Legal DealFolio - Molycorp purchase of Neo Material Technologies

Davis Polk is advising Morgan Stanley Senior Funding, Inc. and Credit Suisse Securities (USA) LLC as lead arrangers in connection with a commitment to provide a $635 million senior secured bridge facility for Molycorp, Inc. The bridge facility would be available to Molycorp to finance its purchase of Neo Material Technologies Inc. in the event it is unable to consummate a planned high-yield debt offering. Headquartered in Greenwood Village, Colorado, Molycorp is the largest rare earth oxide producer in the Western hemisphere and currently produces approximately 3,000 metric tons of commercial rare earth materials per year. Following the execution of Molycorp's "mine-to-magnets" strategy and the completion of both phases of its modernization and expansion efforts at its Mountain Pass, California, processing facility, Molycorp expects to achieve an annual production capacity by mid-2013 of approximately 40,000 metric tons of rare earth oxide equivalent per year. Molycorp intends to provide to the market a range of rare earth products, including high-purity oxides, metals, alloys and permanent magnets. The Davis Polk corporate team included partner Michael Kaplan, counsel Jeff Ramsay and associates Shakhi Majumdar and Tsz Hin Kwok (not yet admitted). The environmental team included counsel Hayden S. Baker and associate Jesse Kramer (not yet admitted). Partner Po Sit and associates Arie Rubenstein and Una Au provided tax advice. Partner Frank J. Azzopardi and associates David R. Bauer and Bruce Rose-Innes provided intellectual property advice. Members of the Davis Polk team are based in the New York office.

Deal Date:	09-03-2012	Practice Area:	International Finance and Bank Credit
Deal Title:	Molycorp purchase of Neo Material Technologies	Industry:	Mining
Description:	Davis Polk is advising Morgan Stanley Senior Funding, Inc. and Credit Suisse Securities (USA) LLC as lead arrangers in connection with a commitment to provide a $635 million senior secured bridge facility for Molycorp, Inc. The bridge facility would be available to Molycorp to finance its purchase of Neo Material Technologies Inc. in the event it is unable to consummate a planned high-yield debt offering. Headquartered in Greenwood Village, Colorado, Molycorp is the largest rare earth oxide producer in the Western hemisphere and currently produces approximately 3,000 metric tons of commercial rare earth materials per year. Following the execution of Molycorp's "mine-to-magnets" strategy and the completion of both phases of its modernization and expansion efforts at its Mountain Pass, California, processing facility, Molycorp expects to achieve an annual production capacity by mid-2013 of approximately 40,000 metric tons of rare earth oxide equivalent per year. Molycorp intends to provide to the market a range of rare earth products, including high-purity oxides, metals, alloys and permanent magnets. The Davis Polk corporate team included partner Michael Kaplan, counsel Jeff Ramsay and associates Shakhi Majumdar and Tsz Hin Kwok (not yet admitted). The environmental team included counsel Hayden S. Baker and associate Jesse Kramer (not yet admitted). Partner Po Sit and associates Arie Rubenstein and Una Au provided tax advice. Partner Frank J. Azzopardi and associates David R. Bauer and Bruce Rose-Innes provided intellectual property advice. Members of the Davis Polk team are based in the New York office.
Financial Center:	New York	Value:	500.01-1000.00
Advised Party:	Lender	Law Firm	Davis Polk
Borrower Jurisdiction:	United States	Lender Jurisdiction:	United States
Classification:	Acquisition Finance Private Company Acquisition	Lawyer	Michael Kaplan

Practice Areas -

International Finance and Bank Credit Law Firms and Lawyers

Practice Areas - International Finance and Bank Credit Law Firms and Lawyers