Simpson Thacher Represents JPMorgan in $3.5 Billion Revolving Credit Facility for Expand Energy Corporation
Simpson Thacher represented JPMorgan Chase Bank, N.A. in connection with the amendment and restatement of Expand Energy Corporation’s (“Expand”) credit agreement, which establishes an unsecured revolving credit facility (“the Credit Facility”) with initial aggregate commitments of $3.5 billion and an incremental capacity for additional commitments up to $1.0 billion. The Credit Facility provides for a $1.0 billion sublimit for issuing letters of credit and a $100 million sublimit for swingline loans.
Expand is the largest independent natural gas producer in the U.S., based on net daily production, with approximately 8,000 gross natural gas and oil wells and operations in the Haynesville and Bossier Shales in Louisiana, in the Marcellus Shale in Pennsylvania and in the Marcellus and Utica Shales in West Virginia and Ohio.
The Simpson Thacher team included Matt Einbinder, Andrew Lanius, Ramz Aziz, Caroline Toohey (Banking and Credit); and Michael Mann (Tax).