Simpson Thacher Represents Arrangers in Connection With Financing for Acquisition of Momentive Performance Materials Inc.
Simpson Thacher represented BNP Paribas and Citibank, N.A. as lead arrangers for a $300 million asset-based revolving credit facility, a $750 million U.S. dollar first lien term loan credit facility and a €78.0 million first lien euro term loan credit facility, in connection with the acquisition of Momentive Performance Materials, Inc. by a consortium of SJL Partners LLC, KCC Corp. and Wonik QnC Corp. Simpson Thacher also represented Kookmin Bank Co., Ltd., The Korea Development Bank and The Export-Import Bank of Korea as lead arrangers in connection with a $839 million second lien term loan facility and KEB Hana Bank, The Export-Import Bank of Korea and The Korea Development Bank as lead arrangers in connection with a $162 million additional term loan facility.
Momentive is one of the world’s largest producers of specialty silicones and silanes and is a global leader in fused quartz and specialty ceramics products.
The Simpson Thacher team included Jessica Tuchinsky, Chance Goldberg, Arman Naraghi-Pour, Remy Denner and Julia Tory (Credit – New York); Shahpur Kabraji, Makiko Harunari and Alvin Kwong (Credit – Hong Kong); Jin Hyuk Park, Joongwon Park and Heesu Kim (Corporate – Hong Kong); Timothy Gallagher (Real Estate); Andrew Kofsky, Andrew Blau and Jeanne Annarumma (Executive Compensation and Employee Benefits); Lori Lesser, Melanie Jolson and Ellie Gladstone (Intellectual Property); Mark Skerry and Joseph Betteley (OFAC/FCPA); and Adeeb Fadil and Noreen Lavan (Environmental).