Sealed Air Corporation Completes $850 Million Senior Notes Offering

The Firm recently represented Sealed Air Corporation (“Sealed Air”) in its offering of $425 million aggregate principal amount of 4.875% Senior Notes due 2022 and $425 million aggregate principal amount of 5.125% Senior Notes due 2024. Sealed Air is using the net proceeds from the offering to repurchase all of its outstanding 8.125% Senior Notes due 2019, to pay related premiums, fees and expenses and for general corporate purposes. The notes are guaranteed by certain of Sealed Air’s wholly-owned domestic subsidiaries. The offering was conducted in reliance on Rule 144A and Regulation S.

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Orrick Advises SunEdison and TerraForm on $2.4 Billion Acquisition of First Wind

Orrick, Herrington & Sutcliffe LLP acted as M&A counsel for long-time client SunEdison, Inc. (“SunEdison”) and its yieldco, TerraForm Power, Inc. (“Terraform”), in the acquisition of First Wind Holdings, LLC (“First Wind”), a leading developer, owner and operator of U.S. wind and solar energy projects, for approximately $2.4 billion, with a $1.9 billion upfront payment and an up to $510 million earn-out. The transaction marks SunEdison’s entry into the U.S. wind energy sector, building on its position as a leading global solar energy developer.

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Cahill Represents Underwriters in $1.25 Billion Public Offering by MGM Grand

Cahill represented BofA Merrill Lynch, J.P. Morgan, Citigroup, SMBC Nikko, and Morgan Stanley as joint book-running managers and the co-managers in connection with the public offering of $1,150,000,000 aggregate principal amount of 6% Senior Notes due 2023, which were issued at par, and $100,000,000 aggregate principal amount of 6% Senior Notes due 2023, which were issued at 100.75% by MGM Grand International. Proceeds were used to refinance existing indebtedness and for general corporate purposes.

Morgan Lewis Welcomes More Than 750 Lawyers, Legal Professionals and Staff from Bingham McCutchen

Positioning itself to better serve its corporate clients, Morgan Lewis today welcomed 226 partners and more than 525 other lawyers, legal professionals, and staff from Bingham McCutchen.

With almost 2,000 lawyers in 28 offices in the United States, Europe, Asia, and the Middle East, Morgan Lewis offers clients global access to broad capabilities across a comprehensive spectrum of services and industries addressing virtually every aspect of corporate, financial, and asset management operations. With the addition of its new lawyers, the firm has a dominant presence along the East and West coasts of the United States and opens new offices in Santa Monica, California, and Hartford, Connecticut.

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Oceaneering’s Registered Senior Debt Offering

Cravath represented the underwriters, led by Credit Suisse, J.P. Morgan Securities and Wells Fargo Securities, in connection with the US$500 million registered senior debt offering of Oceaneering International, Inc., a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry. The transaction closed on November 21, 2014.

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Cahill Represents Underwriters in $700 Million Public Offering by Omnicare

Cahill represented the joint book-running managers and co-managers in connection with the public offering of $700,000,000 Senior Notes, comprised of $400,000,000 aggregate principal amount of 4.75% Senior Notes due 2022, and $300,000,000 aggregate principal amount of 5.00% Senior Notes due 2024 by Omnicare, Inc., a leading healthcare services company that specializes in the management of complex pharmaceutical care. Proceeds from the offering will be used for general corporate purposes and to refinance existing indebtedness.

Dechert Advises Tech Mahindra on US$240 Million Acquisition of Lightbridge Communications Corporation

Tech Mahindra Ltd., an independent global provider of network engineering services to the telecommunications industry, announced that it has signed a definitive agreement to acquire global network services leader Lightbridge Communications Corporation for an enterprise value of approximately US$240 million, subject to regulatory approvals. Dechert LLP is acting as legal advisor to Tech Mahindra in the transaction, which is expected to close by Q4 of Tech Mahindra’s 2015 fiscal year.

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PRA Health Sciences’ IPO Raises $351 Million

The Firm recently represented PRA Health Sciences, Inc. (“PRA”), a portfolio company of Kohlberg Kravis Roberts & Co. L.P., in connection with its initial public offering of common stock. The offering of 19,523,255 shares of common stock, which included the underwriters’ option to purchase 2,546,511 additional shares, raised approximately $351 million in gross proceeds. The shares of PRA are now listed on the Nasdaq Global Select Market under the ticker symbol “PRAH”.

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