TPC Group Inc.’s Debt Refinancing


Simpson Thacher represented TPC Group Inc. (“TPC”) in connection with its offering of $930 million aggregate principal amount of 10.5% Senior Secured Notes due 2024 (the “Notes”) in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended.

The net proceeds from the offering of the Notes were used to refinance TPC’s existing outstanding secured notes, repay its existing term loans and repay a portion of borrowings outstanding under TPC’s existing senior secured asset-based revolving credit facility.

TPC is a leading producer of value-added products derived from petrochemical raw materials such as C4 hydrocarbons, and provider of critical infrastructure and logistics services along the Gulf Coast. TPC sells its products into a wide range of performance, specialty and intermediate markets, including synthetic rubber, fuels, lubricant additives, plastics and surfactants.

The Simpson Thacher team included Dave Azarkh (Picture), Matt Hart, Brian Mathes and Dorothy Hector (Capital Markets); Dan Kay, Robyn Cho and Teresita Acedo (Credit); Jonathan Cantor and Jasmine Hay (Tax); Melanie Jolson (IP); Krista McManus and Dennis Loiacono (Real Estate); Andrew Blau and Ashlie Lawton (ECEB); Timothy Mulvihill (Environmental); Mark Skerry and Joseph Betteley (Regulatory); and Soogy Lee and Jon Pall (Collateral).

Involved fees earner: Teresita Acedo Betancourt – Mayer & Brown; David Azarkh – Simpson Thacher & Bartlett; Joseph Betteley – Simpson Thacher & Bartlett; Andrew Blau – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Robyn Cho – Simpson Thacher & Bartlett; Matthew Hart – Simpson Thacher & Bartlett; Jasmine Hay – Simpson Thacher & Bartlett; Dorothy Hector – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Daniel Kay – Simpson Thacher & Bartlett; Ashlie Lawton – Simpson Thacher & Bartlett; Hyang-Sook Lee – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Brian Mathes – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Mark Skerry – Simpson Thacher & Bartlett;

Law Firms: Mayer & Brown; Simpson Thacher & Bartlett;

Clients: TPC Group Inc.;