Simpson Thacher Represents Crestwood Midstream
Simpson Thacher represented Crestwood Midstream Partners and Crestwood Midstream Finance as co-issuers in connection with a Rule 144A/Regulation S offering of $600 million aggregate principal amount of 6.125% Senior Notes due 2022, guaranteed by each of Crestwood’s existing and future domestic subsidiaries that guarantee any indebtedness for borrowed money. Crestwood used the net proceeds from the offering to finance a portion of its acquisition of Arrow Midstream Holdings.
Houston-based Crestwood is a fully integrated energy midstream company that provides infrastructure solutions in shale plays in the U.S. First Reserve Management, a private equity firm specializing in the energy industry, owns a significant equity position in Crestwood.
Arrow Midstream Holdings is a privately held company that owns and operates substantial crude oil, natural gas and water gathering systems located in the core of the Bakken Shale in North Dakota.
The Simpson Thacher team included: Ed Tolley, David Azarkh and Erika Tang (Capital Markets); Alden Millard and Gibbs Fryer (Credit), Jonathan Cantor and Sophie Staples (Tax), Timothy Mulvihill (Environmental), and Aimee Adler (Executive Compensation & Employee Benefits).