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Orrick’s Higgins advises on Southern Star $450M private offering

Orrick, Herrington & Sutcliffe LLP partner and co-head of the U.S. Energy practice Tara A. Higgins was part of a cross-practice team that recently advised Southern Star Central Corp.

Tara A. Higgins

Orrick, Herrington & Sutcliffe LLP partner and co-head of the U.S. Energy practice Tara A. Higgins was part of a cross-practice team that recently advised Southern Star Central Corp. with its $450 million private offering of 5.125 percent senior notes due 2022.

Southern Star, the parent company of Southern Star Central Gas Pipeline Inc., is an interstate natural gas transportation company in the Midwest and Mid-continent regions. Southern Star’s pipeline system is composed of approximately 6,000 miles of mainline and branch transmission and storage pipelines located in Colorado, Kansas, Missouri, Nebraska, Oklahoma, Texas and Wyoming. Southern Star is indirectly owned by Morgan Stanley Infrastructure Partners and certain other affiliated investment funds managed by Morgan Stanley Infrastructure Inc.

According to the firm, concurrently with the launch of the notes offering, Southern Star launched a tender offer for its outstanding 6.75 percent senior notes due 2016 and concurrently with the closing of the notes offering, Southern Star also entered into an amendment and restatement of its current revolving credit facility, and Central entered into a $100 million unsecured term loan facility. The proceeds from the notes offering and the Central term loan facility were used primarily to repay or redeem the 2016 notes, repay Southern Star’s current revolving credit facility and make a distribution to its parent company.

New York-based Higgins was part of the team that included attorneys from Orrick’s Energy and Infrastructure, Corporate and Banking and Finance groups. She focuses primarily on domestic and international energy and infrastructure-related projects, including project financings, credit enhancement facilities, high-yield and bond financings and other senior secured lending transactions, project development, restructurings and bankruptcy-related transactions, including Section 363 sales, mergers and acquisitions, joint development arrangements, limited partners and other member investments and miscellaneous investor arrangements.

Contributing Author

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Amy I. Stickel

Amy I. Stickel has extensive experience covering the legal, financial and pharmaceutical industries as a writer and editor. A past managing editor of Corporate Legal Times and...

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