Independence Energy’s $500 Million High-Yield Senior Notes Offering

Simpson Thacher represented the initial purchasers in the offering.

Independence Energy Finance LLC, a wholly-owned subsidiary of Independence Energy LLC (“Independence Energy”), executed its offering of $500 million aggregate principal amount of 7.25% Senior Notes due 2026. Independence Energy intends to use the net proceeds from the offering, together with its initial borrowings under its new reserves-based revolving credit facility, to repay outstanding borrowings under its existing credit facilities and to pay related fees and expenses.

Independence Energy is a diversified U.S. independent energy company with assets in key proven basins across the lower 48 states. Independence Energy has a cash flow-based investment mandate with a focus on operated working interests, and is complemented by non-operated working interests, minerals and royalty interests, and midstream infrastructure, as well as an active risk management strategy and a strong focus on responsible investment practices. The management team of Independence Energy is employed by KKR through a management services agreement.

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, with a team which included David Azarkh (Picture), Tony Rim and Frances Fuqua (Capital Markets); Jonathan Goldstein and Scott Grundei (Tax); Genevieve Dorment and Kate Mirino (Intellectual Property); Jennifer Neilsson (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Abram Ellis and Christine Tillema (Regulatory); and Jennie Getsin (Blue Sky).

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Frances Fuqua – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Tony Rim – Simpson Thacher & Bartlett; Christine Tillema – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

Author: Martina Bellini

Independence Energy’s $500 Million High-Yield Senior Notes Offering

Simpson Thacher represented the initial purchasers in the offering.

Independence Energy Finance LLC, a wholly-owned subsidiary of Independence Energy LLC (“Independence Energy”), executed its offering of $500 million aggregate principal amount of 7.25% Senior Notes due 2026. Independence Energy intends to use the net proceeds from the offering, together with its initial borrowings under its new reserves-based revolving credit facility, to repay outstanding borrowings under its existing credit facilities and to pay related fees and expenses.

Independence Energy is a diversified U.S. independent energy company with assets in key proven basins across the lower 48 states. Independence Energy has a cash flow-based investment mandate with a focus on operated working interests, and is complemented by non-operated working interests, minerals and royalty interests, and midstream infrastructure, as well as an active risk management strategy and a strong focus on responsible investment practices. The management team of Independence Energy is employed by KKR through a management services agreement.

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, with a team which included David Azarkh (Picture), Tony Rim and Frances Fuqua (Capital Markets); Jonathan Goldstein and Scott Grundei (Tax); Genevieve Dorment and Kate Mirino (Intellectual Property); Jennifer Neilsson (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Abram Ellis and Christine Tillema (Regulatory); and Jennie Getsin (Blue Sky).

Involved fees earner: David Azarkh – Simpson Thacher & Bartlett; Genevieve Dorment – Simpson Thacher & Bartlett; Abram Ellis – Simpson Thacher & Bartlett; Frances Fuqua – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Jonathan Goldstein – Simpson Thacher & Bartlett; Scott Grundei – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Kate Mirino – Simpson Thacher & Bartlett; Jennifer Neilsson – Simpson Thacher & Bartlett; Tony Rim – Simpson Thacher & Bartlett; Christine Tillema – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: J.P. Morgan Securities LLC;

Author: Martina Bellini