Paul Hastings Represents Lead Arrangers in Pharmaceutical Research Associates, Inc. Financing

Paul Hastings LLP, a leading global law firm, announced today that the firm represented UBS Securities LLC, Wells Fargo Securities, LLC and General Electric Capital Corporation, as lead arrangers, and UBS AG, Stamford Branch, as administrative agent, in connection with the amendment of the existing amended and restated first lien credit agreement and the second lien credit agreement for Pharmaceutical Research Associates, Inc., to, among other things, permit the incurrence of first lien incremental term loans and second lien incremental term loans for the purposes of, among other things, the payment of a shareholder dividend and the acquisition of ClinStar, LLC.

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Tags:  Paul Hastings LLP | New York

Davis Polk Advises Digicel Limited on Notes Offering and Cash Tender Offer

Davis Polk advised Digicel Limited (Digicel) in connection with the offering by Digicel of an aggregate of $1 billion of Digicel’s 6% senior notes due 2021 and a concurrent cash tender offer by Digicel for any and all of its 12% senior notes due 2014. The notes were sold pursuant to Rule 144A and Regulation S under the Securities Act of 1933. The tender offer consideration was funded from the net proceeds of the offering.

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Tags:  Davis Polk & Wardwell | New York

Davis Polk – Education Management Corporation Senior Cash Pay/PIK Notes Exchange Offer

Davis Polk advised Goldman Sachs & Co., Barclays Capital Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as dealer managers in connection with a Rule 144A/Regulation S exchange offer by Education Management LLC and Education Management Finance Corp. Upon settlement of the exchange offer, Education Management LLC and Education Management Finance Corp. issued approximately $200.8 million aggregate principal amount of senior cash pay/PIK notes due 2018 which, together with approximately $168.7 million in cash consideration, were exchanged for certain of their outstanding 8.75% senior notes due 2014. The notes issued in the exchange offer are guaranteed by Education Management Corporation, the parent company of the issuers, and all of Education Management Corporation’s existing direct and indirect domestic restricted subsidiaries, other than any subsidiary that directly owns or operates a school or has been formed for such purpose and has no material assets.

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Tags:  Davis Polk & Wardwell | New York

Cahill Represents Financing Sources in $885 Million Credit Facility and $500 Million Notes Offering for Cedar Fair

Cahill represented JPMorgan Chase Bank as administrative agent and J.P. Morgan Securities, UBS Securities and Wells Fargo Securities as lead arrangers in connection with the $885,000,000 credit facility, comprised of a $630,000,00 Term B loan facility and a $255,000,00 revolving credit facility, for Cedar Fair, L.P. and its wholly owned subsidiaries Magnum Management Corporation and Canada’s Wonderland Company.

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Tags:  Cahill Gordon & Reindel LLP | New York

Willkie Advises Underwriters in Radian Group’s Concurrent Common Stock and Convertible Notes Offerings with Gross Proceeds of $712 Million

On March 4, Radian Group Inc. announced that it has completed its concurrent public offerings of 39.1 million shares of Common Stock and $400 million principal amount of Convertible Senior Notes due 2019. Willkie represented the underwriters, led by joint bookrunning managers Morgan Stanley & Co. LLC and Goldman, Sachs & Co., with co-managers, Dowling & Partners Securities, LLC, Keefe, Bruyette & Woods, Inc., Macquarie Capital (USA) Inc. and Wells Fargo Securities, LLC, with respect to the Common Stock offering, and Keefe, Bruyette & Woods, Inc., with respect to the Convertible Notes offering.

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Tags:  Willkie Farr & Gallagher LLP | New York

Simpson Thacher Represents Education Management Corporation in Private Exchange Offer

The Firm recently represented Education Management Corporation in a private exchange offer by its indirect subsidiaries Education Management LLC and Education Management Finance Corp., in which they exchanged approximately $361 million aggregate principal amount of their 8.75% Senior Notes due 2014 for (i) approximately $201 million aggregate principal amount of new Senior Cash Pay/PIK Notes due 2018 and (ii) approximately $160 million of cash.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Simpson Thacher Represents JPMorgan in Repricing of Web.com Bank Debt

The Firm recently represented J.P. Morgan Securities LLC, as lead arranger, in an amendment and restatement of the First Lien Credit Agreement of Web.com Group, Inc. (“Web.com”), which amendment and restatement repriced the loans thereunder and increased the revolving facility thereunder to $70 million and the term loan facility thereunder to $660 million (the proceeds of which were used to repay Web.com’s second lien term loan in full).

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Tags:  Simpson Thacher & Bartlett LLP | New York

Simpson Thacher Represents Goldman Sachs Bank (USA) in Loan Financing for Empresas ICA

The Firm recently represented Goldman Sachs Bank USA in connection with a US$200 million loan financing to Empresas ICA, S.A.B. de C.V. The loan proceeds will be used to fund an upfront payment for the grant of a concession by the Mexican Government to develop an 83-kilometer toll road between the states of Queretaro and Guanajuato, Mexico, the Palmillas Project.

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Tags:  Simpson Thacher & Bartlett LLP | New York