Simpson Thacher Advises on VoltaGrid's $5 Billion Debt Refinancing

Simpson Thacher represented the initial purchasers, led by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, and represented JPMorgan Chase Bank, N.A. as lead arranger and administrative agent, in connection with VoltaGrid’s comprehensive debt refinancing; the firm also previously represented JPMorgan Chase Bank, N.A. and Goldman Sachs Bank USA as joint lead arrangers on VoltaGrid’s prior credit facility. Simpson Thacher represented the initial purchasers in VoltaGrid LLC’s Rule 144A/Regulation S offering of $2.0 billion aggregate principal amount of 7.375% senior secured second lien notes due 2030 (the “Notes”). VoltaGrid intends to use the net proceeds from the offering to repay all outstanding loans under its existing credit facility, to fund capital expenditures including ongoing growth initiatives, and to pay related costs and expenses in connection with the refinancing transactions. Simpson Thacher also represented JPMorgan Chase Bank, N.A., as lead arranger and administrative agent in connection with VoltaGrid’s new asset‑based revolving credit facility (the “ABL”), which provides for initial commitments of $3.0 billion for revolving loans and letters of credit, subject at all times to a borrowing base. Prior to this comprehensive refinancing, Simpson Thacher represented JPMorgan Chase Bank, N.A. and Goldman Sachs Bank USA as joint lead arrangers in connection with VoltaGrid’s $1.2 billion credit facility, which was refinanced with the proceeds of the Notes and replaced by the ABL. VoltaGrid is a U.S.-based clean energy innovator providing ultra‑responsive, low‑emission natural gas power solutions for data centers, industrial operations, and grid resiliency. Its proprietary platform combines industry‑leading performance with modular, scalable deployment. Simpson Thacher represented the initial purchasers (led by Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC), JPMorgan Chase Bank, N.A. as lead arranger and administrative agent, and, prior to the refinancing, JPMorgan Chase Bank, N.A. and Goldman Sachs Bank USA as joint lead arrangers, with a team composed by: Brian Rosenzweig, Richie Ragusa, Ryan Poché, Margaret Selbe, Lidia Kurganova and Andrew Scattergood (Capital Markets); Erland Modesto, Brandon Barton, Dennis Durkin, Oscar Campos and Michael O’Rear (Credit); Michael Mann (Tax); Mike Isby (Environmental); Courtney Welshimer, Chandler Gerard‑Reimer, Corina Holland and Alexander Kokka (Intellectual Property); and Jennie Getsin (Blue Sky).

Simpson Thacher Advises on VoltaGrid's $5 Billion Debt Refinancing

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