20 05 2016

Corral Petroleum Holdings AB's €570 million Notes Offering

Simpson Thacher represented the initial purchasers, led by Deutsche Bank AG, London Branch, in connection with a Rule 144A and Regulation S offering by Corral Petroleum Holdings AB (publ), the parent company of Preem AB (publ), of (i) EUR 570 million aggregate principal amount of its 11.75% / 13.25% Senior PIK Toggle Notes due 2021 and (ii) SEK 500 million aggregate principal amount of its 12.25% / 13.75% Senior PIK Toggle Notes due 2021.


The Notes were issued as a part of a larger refinancing including Preem’s bank debt. Corral is the largest oil refining company in the Nordic region. The Simpson Thacher team included Greg Conway (Picture), Wim De Vlieger, Aled Knights, Cleo Koh, Rita R. Soares and Pelin Demirdere (Capital Markets); Sinead O’Shea and Jennifer Passagne (Credit); and Jonathan Cantor and Michael Badain (Tax). Involved fees earner: Gregory Conway - Simpson Thacher & Bartlett; Wim De Vlieger - Simpson Thacher & Bartlett; Aled Knights - Simpson Thacher & Bartlett; Rita Soares - Simpson Thacher & Bartlett; Pelin Demirdere - Simpson Thacher & Bartlett; Sinead O’Shea - Simpson Thacher & Bartlett; Jennifer Passagne - Simpson Thacher & Bartlett; Jonathan Cantor - Simpson Thacher & Bartlett; Michael Badain - Simpson Thacher & Bartlett;

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