Shearman & Sterling Advises on $540 million Credit Facilities for Refinancing and One-Time Dividend for SumTotal Systems

Shearman & Sterling advised the joint lead arrangers and joint bookrunners in connection with a refinancing and one-time dividend for SumTotal Systems Inc., a portfolio company of private equity sponsor Vista Equity Partners, comprised of a $370 million first lien term loan, a $30 million revolving credit facility and a $140 million second lien term loan.

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Tags:  Shearman & Sterling LLP | New York

Simpson Thacher Represented Initial Purchasers in Sale of $500 Million Senior Notes by New Gold Inc.

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, in the sale of an aggregate principal amount of $500 million 6.25% Senior Notes due 2022 of New Gold Inc., a British Columbia corporation (“New Gold”). The offering was conducted as a private offering in reliance upon Rule 144A and Regulation S. The notes are guaranteed by certain of New Gold’s direct and indirect subsidiaries. The transaction closed on November 14, 2012. The Firm also worked on an offering by New Gold of $300 million of 7.00% Senior Notes due 2020 earlier this year.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Former DOJ Antitrust Chief Joe Wayland Returns to Simpson Thacher

Simpson Thacher & Bartlett LLP announced today that Joe Wayland has returned to the Firm as a Partner in the Litigation Practice. Mr. Wayland most recently served as the Acting Assistant Attorney General of the U.S. Department of Justice’s Antitrust Division, where he oversaw all of the Division’s criminal and civil matters and led the Division in achieving several major litigation victories.

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Tags:  Simpson Thacher & Bartlett LLP | New York