TNT Crane & Rigging Completes $504 Million Refinancing
09.09.21
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Simpson Thacher represented TNT Crane & Rigging (“TNT”) in connection with its entry into a $385 million asset-based revolving credit facility (the “ABL Facility”) and a new $119 million second lien term loan (the “2L Facility”).
TNT Crane & Rigging is the largest open-shop crane services platform in North America with leadership positions in core maintenance end markets and geographies. TNT operates through 40 branches spanning the Gulf Coast, Rockies, and Southeast regions of the U.S., along with Western Canada. TNT serves more than 4,000 customers who predominantly operate in the downstream, commercial, power and infrastructure end markets.
The Simpson Thacher team included Michael Vernace, Tina Zheng and Kyle Nelson (Banking and Credit); Jennifer Neilsson (Executive Compensation and Employee Benefits); Nancy Mehlman, Tyler Robbins and Edward Grais (Tax); Genevieve Dorment (IP); Michael Isby (Environmental); and Jonathan Pall (Collateral).