Paul Hastings Represents Joint Bookrunners in Essar Steel Minnesota’s $450 Million Senior Secured Notes Offering

Paul Hastings LLP, a leading global law firm, announced that the firm represented joint bookrunners Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and Jefferies LLC in connection with the offering of $450 million of 11.500% senior secured notes due 2020 by Essar Steel Minnesota LLC, a global integrated iron ore producer. The offering closed into escrow and subject to certain conditions, the net proceeds of the notes, together with certain other financing, will be used to complete the construction of a 7.0 million tonnes per annum fully-integrated pellet production facility in northern Minnesota. More >>

Tags:  Paul Hastings, LLP | New York

Seyfarth Represents D.R. Horton in $210 Million Real Estate Acquisition of Crown Communities

Seyfarth Shaw LLP advised D.R. Horton, the largest U.S. residential homebuilder, in connection with its $210 million real estate acquisition of Crown Communities, the largest residential builder in Atlanta and the 28th largest homebuilder in the country.  The deal involved a sales order backlog of approximately 420 homes sold, 640 homes in inventory and 2,350 lots. D.R. Horton also acquired control of approximately 3,400 lots through option contracts. More >>

Tags:  Seyfarth Shaw LLP

Cahill Represents Initial Purchasers in $625 Million Notes Offering by Kratos

Cahill represented SunTrust Robinson Humphrey as sole book-running manager and the co-managers in connection with the Rule 144A offering of $625,000,000 aggregate principal amount of 7% Senior Secured Notes due 2019 by Kratos Defense & Security Solutions, Inc., a specialized security technology business providing mission critical products, solutions and services for domestic and international customers. Proceeds from the offering were used refinance existing indebtedness. More >>

Tags:  Cahill Gordon & Reindel LLP

Cooley Advises Alder Biopharmaceuticals on Initial Public Offering

Cooley LLP announced today that it advised Alder Biopharmaceuticals, Inc. on its $80 million initial public offering. Alder is a Washington-based clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder is currently developing two lead product candidates: ALD403, an investigational monoclonal antibody for migraine, and Clazakizumab, an investigational monoclonal antibody for rheumatoid arthritis and other autoimmune indications, in collaboration with Bristol-Myers Squibb.  The company now trades on the NASDAQ Global Stock Market under the symbol “ALDR.”

More >>

Tags:  Cooley LLP

JPMorgan Chase’s Registered Debt Offering

Cravath represented the underwriter, J.P. Morgan Securities, in connection with the US$2 billion registered debt offering of JPMorgan Chase & Co., a leading global financial services firm and one of the largest banking institutions in the United States. The transaction closed on May 13, 2014.

More >>

Tags:  Cravath, Swaine & Moore LLP

Florida Power & Light Company $500 million first mortgage bonds offering

Hunton & Williams LLP advised BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc., as joint book-running managers in an offering of $500 million aggregate principal amount of first mortgage bonds due 2024 by Florida Power & Light Company (“FPL”). The transaction priced at one of the lowest spreads for a ten year security since 2010.

More >>