Simpson Thacher represented Goldman Sachs Lending Partners LLC, as administrative agent and lead arranger, in connection with Atlas Energy Solutions ProjectCo, LLC's ("Atlas ProjectCo") $424 million senior secured bridge facility (the "Bridge Facility"). The Bridge Facility is a $424 million delayed draw term loan, with the ability for Atlas ProjectCo to request up to $286 million of incremental commitments, subject to lender consent and other conditions. Backed by the two cost reimbursement agreements previously announced by Atlas, the Bridge Facility will fund the purchase of power generation and balance-of-plant equipment for two significant data center projects, with first power for both expected in late 2027.
Atlas ProjectCo, a Texas limited liability company, is an indirect wholly owned subsidiary of Atlas Energy Solutions Inc. ("Atlas"). Atlas is a leading energy solutions provider, unlocking energy that powers the world's critical infrastructure. From large-scale private grid power systems to the world's most advanced frac sand delivery networks, Atlas delivers the engineering, technology and turnkey project execution expertise that turns energy constraints into advantages.
The Simpson Thacher team included Matt Einbinder, Amy Beller, Brian Flynn, Ike Obioma and Noah Moreano (Banking and Credit); Brian Rosenzweig, Maggie Selbe, Lidia Donaldson, Ethan McGinty and Sam Curry (Capital Markets); Steven Lorch and Nathan Bunch (Tax); George Gerstein and Christopher Torikoglu (Executive Compensation and Employee Benefits); Courtney Welshimer (Intellectual Property); Carleigh Rodriguez and Caylea Barone (Environmental); Anais Bourbon (Regulatory); and Dennis Loiacono (Real Estate).