PLS Group Completes Debut $600 Million High-Yield Senior Notes Offering

"Simpson Thacher & Bartlett represented the initial purchasers led by J.P. Morgan Securities LLC in a 144A/Reg S offering by PLS Group Limited of $600 million 6.875% Senior Notes due 2031. The notes are guaranteed by certain wholly-owned subsidiaries. PLS will use net proceeds to repay its revolving credit facility and for general corporate purposes."

Simpson Thacher & Bartlett represented the initial purchasers led by J.P. Morgan Securities LLC in connection with PLS Group Limited's offering of high-yield debt. The transaction consisted of a 144A/Regulation S offering of $600 million aggregate principal amount of 6.875% Senior Notes due 2031 issued by PLS Group Limited. 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 its revolving credit facility and for general corporate purposes. PLS is a leading global producer of lithium materials based in Australia, with a diversified portfolio of assets and strategic partnerships in the battery materials sector, and is listed on the Australian Securities Exchange. Simpson Thacher & Bartlett represented the initial purchasers led by J.P. Morgan Securities LLC with a team composed by: 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).

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PLS Group Completes Debut $600 Million High-Yield Senior Notes Offering

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PLS Group Completes Debut $600 Million High-Yield Senior Notes Offering

Read the full story

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