Venator Materials’ $225 Million Senior Secured Notes Offering


Simpson Thacher represented the initial purchasers in the offering.

Venator Materials PLC executed the offering of $225 million aggregate principal amount of 9.5% Senior Secured Notes due 2025 pursuant to Rule 144A and Regulation S. The offering closed on May 22, 2020.

Venator intends to use the net proceeds from the offering to repay borrowings under its ABL Credit Facility and for general corporate purposes, including enhancing its liquidity position.

Venator is a leading global manufacturer and marketer of chemical products that improve the quality of life for downstream consumers and promote a sustainable future. Venator’s products comprise a broad range of innovative chemicals and formulations that bring color and vibrancy to a variety of applications, protect and extend product life, and reduce energy consumption.

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities, with a team including Art Robinson (Picture), David Azarkh, John C. Ericson, Lisa Zhang and Brian Mathes (Capital Markets); Jon Pall and Michael Ratay (Collateral); Jonathan Cantor (Tax); Jennifer Neilsson (Executive Compensation and Employee Benefits); Lori Lesser and Melanie Jolson (Intellectual Property); Timothy Gallagher and Dennis Loiacono (Real Estate); Michael Isby (Environmental); and Jennie Getsin (Blue Sky).

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; John Ericson – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Melanie Jolson – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Dennis Loiacono – Simpson Thacher & Bartlett; Brian Mathes – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Jonathan Pall – Simpson Thacher & Bartlett; Michael Ratay – Simpson Thacher & Bartlett; Arthur Robinson – Simpson Thacher & Bartlett; Lisa Zhang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

Author: Ambrogio Visconti