Synergy Raises $550 Million in Debut Secured High‑Yield Notes and Secures $500 Million ABL Facility

Simpson Thacher represented J.P. Morgan Securities LLC and the other initial purchasers, and also represented JPMorgan Chase Bank, N.A., as administrative agent, in connection with related financings for Synergy Infrastructure Holdings, LLC. The transaction comprised an upsized Rule 144A/Regulation S offering by Synergy Infrastructure Holdings, LLC of $550 million aggregate principal amount of 7.875% Senior Secured Second Lien Notes due 2030 (increased from an initial $500 million) and a new $500 million asset‑based lending (ABL) facility for Synergy. Simpson Thacher acted for the initial purchasers in the notes offering and for JPMorgan Chase Bank, N.A., as administrative agent in establishing the ABL facility. Synergy intends to use the net proceeds of the notes offering, together with borrowings under the new ABL facility, to: (i) refinance revolving loans outstanding under its existing revolving facility; (ii) repay amounts due under its existing term loan, seller’s note and other equipment financings; (iii) pay related fees and expenses; and (iv) fund general corporate purposes. Synergy is one of the largest independent equipment rental providers in the United States. Simpson Thacher represented J.P. Morgan Securities LLC, the other initial purchasers and JPMorgan Chase Bank, N.A., with a team composed by: John O’Connell, Dave Azarkh, Matt Petrone, Patrick Baron, Sharon Foster and Rebecca Carroll (Capital Markets); Brandan Still, Ron Havas, Ramz Aziz, Kaylee Yocum and Celeste Fleetwood (Credit); Jon Pall and Soogy Lee (Collateral); Jon Cantor, Jemma Li and Jacob Chefitz (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); Courtney Welshimer and Paige Brinton (Intellectual Property); and Jennie Getsin (Blue Sky).

Synergy Raises $550 Million in Debut Secured High‑Yield Notes and Secures $500 Million ABL Facility

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