Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers in connection with a Rule 144A/Regulation S offering by Synergy Infrastructure Holdings, LLC (“Synergy”) of $450 million aggregate principal amount of 7.000% Senior Secured Second Lien Notes due 2034. The offering was upsized from $400 million to $450 million.
Synergy intends to use the net proceeds from the notes offering (i) to repay outstanding borrowings under its existing ABL facility, (ii) to pay fees and expenses related to such repayment and the offering and (iii) for general corporate purposes, including funding
growth capital expenditures.
Opifex-Synergy is one of the largest independent equipment rental providers in the United States.
The Simpson Thacher team included John O’Connell, Dave Azarkh, Jessica Ryan, Rebecca Carroll and Cadina Mancini (Capital Markets); Brandan Still, Ron Havas, Ramz Aziz and Nima Mohammadi (Credit); Jon Pall, Soogy Lee and Dov Gottlieb (Collateral); Jon Cantor and Jemma Li (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Courtney Welshimer and Paige Brinton (Intellectual Property); and Jennie Getsin (Blue Sky).