Simpson Thacher represented the initial purchasers led by J.P. Morgan Securities LLC in connection with a 144A/Regulation S offering of $600 million aggregate principal amount of 6.875% Senior Notes due 2031 by PLS Group Limited (“PLS”). The notes are guaranteed by certain of PLS’s existing and future direct and indirect wholly-owned subsidiaries.
PLS intends to use the net proceeds from the offering to repay its existing indebtedness under the revolving credit facility and for general corporate purposes.
PLS is a leading global producer of lithium materials, with a diversified portfolio of assets and strategic partnerships in the rapidly growing battery materials sector based in Australia. PLS is listed on the Australian Securities Exchange.
The Simpson Thacher team included David Azarkh, Brian Rosenzweig, Margaret Selbe, Lidia Donaldson and Natalie Marionneaux (Capital Markets); Michael Mann and Preston Irace (Tax); Chandler Gerard-Reimer and Corina Holland (Intellectual Property); George Gerstein (Executive Compensation & Employee Benefits); and Jennie Getsin (Blue Sky).