Simpson Thacher represented the initial purchasers, led by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, in VoltaGrid LLC’s (“VoltaGrid” or the “Company”) Rule 144A/Regulation S offering of $2.0 billion aggregate principal amount of 7.375% senior secured second lien notes due 2030 (the “Notes”). The Company intends to use the net proceeds from the offering to repay all of the outstanding loans under the Company’s existing credit facility, to pay for capital expenditures, including with respect to funding VoltaGrid’s ongoing growth initiatives, and to pay related costs and expenses in connection with the refinancing transactions.
Simpson Thacher also represented JPMorgan Chase Bank, N.A., as lead arranger and administrative agent, in connection with VoltaGrid’s new asset-based revolving credit facility (the “ABL”), which provides for an initial $3.0 billion of commitments for revolving loans and letters of credit, subject at all times to a borrowing base. Prior to the comprehensive debt refinancing, Simpson Thacher represented JPMorgan Chase Bank, N.A. and Goldman Sachs Bank USA, as joint lead arrangers, in connection with VoltaGrid’s $1.2 billion credit facility, which was refinanced with the proceeds of the Notes and replaced with the ABL.
VoltaGrid is a U.S.-based clean energy innovator providing ultra-responsive, low-emission natural gas power solutions for data centers, industrial operations, and grid resiliency. Its proprietary platform combines industry-leading performance with modular, scalable deployment—making VoltaGrid the preferred partner for next-generation energy infrastructure.
The Simpson Thacher team included Brian Rosenzweig, Richie Ragusa, Ryan Poché, Margaret Selbe, Lidia Kurganova and Andrew Scattergood (Capital Markets); Erland Modesto, Brandon Barton, Dennis Durkin, Oscar Campos and Michael O’Rear (Credit); Michael Mann (Tax); Mike Isby (Environmental); Courtney Welshimer, Chandler Gerard-Reimer, Corina Holland and Alexander Kokka (Intellectual Property); and Jennie Getsin (Blue Sky).