Cravath represented the initial purchasers, led by Wells Fargo Securities, Citigroup and Deutsche Bank Securities, in connection with the US$400 million 144A/Reg. S high‑yield senior secured debt offering of DriveTime Automotive Group and DT Acceptance Corporation. DriveTime is the leading used vehicle retailer in the United States with a primary focus on the sale and lease of quality used vehicles and related products to the subprime market. The transaction closed on June 3, 2014.

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Davis Polk advised Barclays Capital Inc. as underwriter in connection with the secondary offering of 6,000,000 shares of common stock of Wesco Aircraft Holdings, Inc. sold by a selling stockholder, an affiliate of the Carlyle Group, for an aggregate price to the public of $123 million. Wesco Aircraft’s common stock is traded on the New York Stock Exchange under the symbol “WAIR.”

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Attorneys from Goodwin Procter recently advised private equity firm Insight Venture Partners on its announced, definitive agreement to acquire iParadigms, along with GIC, Singapore’s sovereign wealth fund, for $752 million. The transaction is expected to close in the third quarter of 2014 and is subject to the waiting period under the HSR Act and customary closing conditions. Additional terms were not disclosed.

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Hunton & Williams LLP advised Credit Suisse Securities (USA) LLC and RBS Securities Inc., as underwriters on an SEC-registered offering by Southwestern Public Service Company (“SPS”) of $150 million aggregate principal amount of first mortgage bonds due 2024.

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Morrison & Foerster is advising Global Logistic Properties Limited (GLP), the leading provider of modern logistics facilities in China, Japan and Brazil, in its landmark agreement with a group of strategic partners, as detailed in its press release. The first tranche of the transaction – which comprises a US$1.48 billion investment in China Holdco and a US$163 million investment in in GLP Listco – has closed. The second tranche, with a planned investment of up to US$875 million in China Holdco is expected to be completed within the next six months.

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Leading offshore law firm Mourant Ozannes has acted as Jersey counsel to Barclays Bank PLC, HSBC Bank plc and The Royal Bank of Scotland plc as Joint Lead Managers of the States of Jersey’s debut £250m bond issue.

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Shearman & Sterling is representing Macnica, Inc. (“Macnica”) and Fuji Electronics Co., Ltd. (“Fuji Electronics”) in their planned integration under a joint holding company that will be listed on the Tokyo Stock Exchange. The combined market value of their issued shares as of the announcement date was approximately US$733 million. The transaction is subject to, among other things, approval by the shareholders of both companies.

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The Firm represented Sycamore Partners in raising Sycamore Partners II, L.P., a $2.5 billion private equity fund, which is the successor fund to Sycamore’s inaugural $1 billion fund raised in 2011/12.  Sycamore, founded by Stefan Kaluzny, is a leading private equity firm focused on consumer and retail investments.  The Firm has also assisted Sycamore on many of its investments including Talbots, Hot Topic and The Jones Group.
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Hunton & Williams LLP advised the underwriters on an SEC-registered offering by NextEra Energy Capital Holdings, Inc. (“NEE Capital”) of $350 million aggregate principal amount of debentures due 2019.

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Kirkland & Ellis LLP represented Blue Sea Capital LLC, a private equity firm based in Palm Beach, Florida, and with an office in El Segundo, California, in the closing of its debut fund, announced yesterday.  Blue Sea Capital Fund I LP successfully closed with $327 million of capital commitments, substantially oversubscribed from the initial $300 million target, with approximately 10 percent coming from the general partner and its affiliates. Blue Sea achieved the fundraise within 12 months. Investors include pension funds, insurance companies, fund-of-funds, endowments and multi-family offices.
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