Davis Polk advised PPL Capital Funding, Inc. on its registered offering of $400 million aggregate principal amount of 3.50% senior notes due 2022, fully and unconditionally guaranteed by PPL Corporation (PPL). Mitsubishi UFJ Securities (USA), Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC acted as representatives of the several underwriters for the offering. PPL Capital Funding and PPL expect the net proceeds from the sale of the notes to be invested in or loaned to subsidiaries of PPL, which will use the funds to repay short-term debt obligations, including commercial paper borrowings, and for general corporate purposes.

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Paul Hastings LLP, a leading global law firm, announced today that the firm represented LIN Media, a local multimedia company, in the closing of its acquisition of 13 broadcast network affiliates and related assets from seller New Vision Television for $334.9 million and the assumption of $12 million of debt.

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Simpson Thacher represented The Blackstone Group L.P. (“Blackstone”) in the establishment of its seventh global opportunistic real estate fund, Blackstone Real Estate Partners VII L.P. (“BREP VII”). Blackstone has announced that BREP VII raised approximately $13.3 billion of total commitments from more than 250 investors globally and that BREP VII is the largest opportunistic real estate private equity fund ever raised.

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Simpson Thacher represented the underwriters, led by joint bookrunners, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC, in the initial public offering by Realogy Holdings Corp. (“Realogy”) of an aggregate of 40,000,000 shares of its common stock. Realogy also granted the underwriters a 30-day option to purchase up to an additional 6,000,000 shares to cover over-allotments, which was exercised in full on October 11, 2012. The offering is the largest real estate offering ever and it priced at $27.00 per share, which was the top of the indicative price range. The offering raised aggregate net proceeds of approximately $1.2 billion. Realogy’s common stock is listed on The New York Stock Exchange under the symbol “RLGY” and opened for trading on October 11, 2012. Realogy intends to use the net proceeds of the offering, together with cash on hand, primarily to repay outstanding indebtedness.

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