Cravath – Qualcomm’s $10 Billion Debut Registered Debt Offering

Cravath represented Qualcomm Incorporated in connection with its US$10 billion debut registered debt offering. Qualcomm develops and commercializes digital communication technologies called Code Division Multiple Access (CDMA), Orthogonal Frequency Division Multiple Access (OFDMA) and several other key technologies used in handsets and tablets that contribute to end‑user demand. The transaction closed on May 20, 2015

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Simpson Thacher Represents the Underwriters in Inaugural $10 Billion Debt Offering by Qualcomm

The Firm represented the underwriters led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co. and J.P. Morgan Securities LLC in the public offering of $10 billion aggregate principal amount of debt securities of QUALCOMM Incorporated, a Delaware corporation (“Qualcomm”), consisting of $250 million aggregate principal amount of Floating Rate Notes due 2018, $250 million aggregate principal amount of Floating Rate Notes due 2020, $1.25 billion aggregate principal amount of 1.4% Notes due 2018, $1.75 billion aggregate principal amount of 2.25% Notes due 2020, $2 billion aggregate principal amount of 3% Notes due 2022, $2 billion aggregate principal amount of 3.45% Notes due 2025, $1 billion aggregate principal amount of 4.65% Notes due 2035 and $1.5 billion aggregate principal amount of 4.8% Notes due 2045. The offering closed on May 20, 2015.

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Craig A. Newman Joins Patterson Belknap as Partner

Patterson Belknap Webb & Tyler LLP is pleased to announce that Craig A. Newman, a prominent litigator who has represented a number of the world’s top investment firms and financial services companies, has joined the firm as a partner in its Litigation Department. He will continue to advise global companies, investment firms and their boards in complex business, governance and litigation matters. A nationally-recognized authority on cybersecurity, he will also lead Patterson Belknap’s Privacy and Data Security Practice Group, and be a member of its Structured Finance Litigation Practice Group, which handles significant disputes among financial and investment entities including major banks.

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Davis Polk Advises Verisk Analytics on Its $1.25 Billion Senior Notes Offering

Davis Polk advised Verisk Analytics, Inc. on its SEC-registered offering of $900 million aggregate principal amount of 4.000% senior notes due 2025 and $350 million aggregate principal amount of 5.500% senior notes due 2045. Verisk intends to use the proceeds of the offering to partially finance its acquisition of Wood Mackenzie Limited.

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Chadbourne Represents Lenders on US$11.5 Billion Senior Debt Financing for Corpus Christi LNG Project

Chadbourne & Parke LLP represented the lenders in connection with the US$11.5 billion senior debt financing for the Corpus Christi LNG Project.

The Corpus Christi LNG Project is sponsored by affiliates of Cheniere Energy, Inc. and is located on the La Quinta Channel on the northeast side of Corpus Christi Bay in San Patricio County, Texas. The project, when fully constructed, is expected to comprise three liquefaction trains with expected aggregate nominal production capacity of approximately 13.5 mmtpa, three full-containment LNG storage tanks with capacity of approximately 10.1 Bcfe, two LNG carrier docks and a 22-mile, 48″ natural gas supply pipeline, as well as all associated facilities. The estimated total capital cost of the project is US$15.4 billion.

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Arrangement of $5 Billion Financing for The Chemours Company’s Proposed Separation from DuPont

Cravath represented the initial purchasers, led by Credit Suisse, J.P. Morgan Securities, BofA Merrill Lynch, Barclays, Citigroup and Goldman, Sachs & Co., in connection with the US$2.1 billion and €360 million 144A/Reg. S high‑yield senior debt offering of The Chemours Company related to its proposed separation from E. I. du Pont de Nemours and Company. Cravath also represented Credit Suisse and J.P. Morgan Securities in their third‑party tender offer for US$500 million aggregate principal amount of DuPont bonds and their subsequent debt‑for‑debt exchange with DuPont for Chemours notes. In addition, Cravath represented J.P. Morgan Securities, Credit Suisse, Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, Barclays, HSBC and RBC, as joint lead arrangers of a credit agreement providing for a seven‑year US$1.5 billion senior secured Term Loan B Facility and a five‑year US$1.0 billion senior secured Revolving Credit Facility. The transactions closed on May 12, 2015.

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Andrew Charles Joins Kramer Levin as Partner in Real Estate Practice

Kramer Levin Naftalis & Frankel LLP announced today that Andrew Charles has joined the firm as a partner in the Real Estate practice.

Mr. Charles has extensive experience in all aspects of commercial real estate law, including, partnerships and joint ventures, financing for borrowers and lenders, acquisitions and sales, and development and leasing. His client base includes private equity funds, financial institutions, developers and operators in the acquisition, financing, development, sale and leasing of all classes of commercial properties including office, hotel, multi-family, retail, public storage, mixed use and condominium properties. Mr. Charles focuses on structuring transactions for institutional investors and opportunity funds such as joint ventures, preferred equity investments, mezzanine financing and mixed debt/equity investments. He was formerly a partner in King & Spalding’s Capital Transactions and Real Estate Group.

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Shearman & Sterling Advises Pall Corporation on $13.8 Billion Acquisition by Danaher Corporation

Shearman & Sterling is advising Pall Corporation, a global leader in filtration, separation and purification technologies, on its acquisition by Danaher Corporation for $127.20 per share in cash, or $13.8 billion including assumed debt and net of acquired cash. The transaction is subject to customary closing conditions, including approval by Pall shareholders and is expected to close in calendar 2015.

Pall Corporation (NYSE:PLL) is a filtration, separation and purification leader providing solutions to meet the critical fluid management needs of customers across the broad spectrum of life sciences and industry. Pall works with customers to advance health, safety and environmentally responsible technologies. The company’s engineered products enable process and product innovation and minimize emissions and waste. Pall Corporation is an S&P 500 company serving customers worldwide.

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