Simpson Thacher Represents Arrangers in Inaugural $1 Billion Senior Secured Revolving Credit Facility for Peoria Resources, LLC
Simpson Thacher represented Wells Fargo Bank, National Association, as administrative agent and lead arranger in connection with a $1 billion senior secured revolving credit facility in connection with Peoria Resources, LLC's $1.3 billion acquisition of Verdad Resources Intermediate Holdings LLC.
Peoria Resources, LLC, the U.S. subsidiary of Japan Petroleum Exploration Co., Ltd. is an exploration and production company based in Houston, TX and Denver, CO focused on the development of operated oil and natural gas assets in the DJ Basin while continuing to pursue disciplined acquisitions of operated assets across the lower 48.
The Simpson Thacher team included Erland Modesto, Bryce Kaufman, Kaylee Yocum and Natalie Marionneaux (Banking & Credit); and Michael Mann (Tax).