Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers in connection with a Rule 144A/Regulation S offering by Dealer Tire Financial, LLC of $500 million aggregate principal amount of 10.375% Senior Notes due 2031.
Simpson Thacher also represented JPMorgan Chase Bank, N.A., as lead arranger and administrative agent, in connection with an amendment and extension of Dealer Tire’s existing $250 million revolving credit facility.
Dealer Tire’s core business manages replacement tire and parts programs for more than 20 automotive OEMs in the U.S. and China. It serves more than 8,000 automotive dealerships from more than 40 distribution centers across the U.S.
The Simpson Thacher team included John C. Ericson, Matt Petrone, Jeryne Fish and Chase Juszczak (Capital Markets); Alexandra Kaplan, Mari Zaldivar, Kyle Nelson and Seya Lewis-Meeks (Credit); Jonathan Cantor and TK Lee (Tax); J. Pasco Struhs (Executive Compensation & Employee Benefits); Dennis Loiacono (Real Estate); Kate Mirino and Corina DeFeo (Intellectual Property); and Jennie Getsin (Blue Sky). Summer Associate Fiona Sparano also provided valuable assistance.