Linklaters has advised Tank & Rast on the 1.45 billion euro senior secured credit facilities and associated hedging transactions in connection with the complete refinancing of its existing senior and junior credit facilities maturing in August 2014 which was completed at the beginning of this month. Tank & Rast is the leading German motorway services operator owned by private equity firm Terra Firma and Deutsche Bank’s infrastructure division RREEF. The refinancing was implemented through a combination of debt that also includes high yield bond issuance and a payment-in-kind term loan.

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Global law firm Proskauer served as counsel to American Realty Capital Properties, Inc. (NASDAQ: ARCP) in its concurrent underwritten public offerings of (i) $300.0 million of ARCP’s 3.00% Convertible Senior Notes due 2018 (“2018 Notes”) pursuant to a reopening of its existing series of such notes and (ii) (ii) $350 million of its 3.75% Convertible Senior Notes due 2020 (“2020 Notes”). Both of the transactions closed on December 10, 2013. Additionally, the representatives for the underwriters delivered notice to ARCP on December 9, 2013 electing to fully exercise their over-allotment options to purchase (i) $37.5 million of additional 2018 Notes and (ii) $52.5 million of 2020 Notes. The exercise of both over-allotment options also closed on December 10, 2013. As a result of the offerings, ARCP received $670.7 million in net proceeds from the offering and intends to use the net proceeds of the offerings (a) to repay outstanding indebtedness under its existing senior secured credit facility (which will increase the availability of funds under such credit facility) and (b) for other general corporate purposes.

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Cahill represented Bank of America, N.A. as administrative agent; Merrill Lynch, Pierce, Fenner & Smith Incorporated as lead arranger; and the other arrangers in connection with the $375,000,000 senior secured term loan and $60,000,000 senior secured asset-based revolving credit facility for Dayco Products, LLC and Dayco Canada Corp., a leader in the research, design, manufacturing and distribution of a broad range of belts, tensioners and pulleys for the automotive, trucking, construction, agricultural and industrial markets.

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Kramer Levin represented Perella Weinberg Partners Asset Based Value Strategy in its agreement to sell Flagship Rail Services, its Chicago-based rail car leasing business, to Sumitomo Mitsui Banking Corporation. The deal is valued at $1.1 billion.

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In December 2013, a team of McGuireWoods corporate and securities attorneys, led by partner Stephen Older and associate Rakesh Gopalan, provided legal counsel to the underwriters in connection with the registered public offering and settlement of $690 million of two series of convertible senior notes of American Realty Capital Properties, Inc. (ARCP), a publicly traded NASDAQ-listed real estate investment trust (REIT) with a market capitalization of $2.4 billion. Barclays Capital Inc. and Citigroup Global Markets, Inc. served as the lead underwriters for the syndicate, which consisted of Credit Suisse (USA) LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, Capital One Securities, Inc. and JMP Securities LLC. Associates David Wolpa, Lindsay Schall and Alex Scharyj also provided assistance with this transaction.

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International law firm Milbank, Tweed, Hadley & McCloy is representing Nomura, Morgan Stanley and Banco Bilbao Vizcaya Argentaria SA as lead arrangers for a senior unsecured bridge loan for Grifols S.A., a multinational public healthcare company. As a leading producer of plasma medicines, Grifols has a presence in more than 100 countries and is the world leader in plasma collection, with 150 plasma donation centers across the U.S.  The company is headquartered in Barcelona, Spain and employs more than 11,000 people worldwide. In 2012, Grifols’ sales exceeded 2,620 million euros.

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On December 11, 2013, the Board of Directors of UNS Energy Corporation (NYSE: UNS) unanimously approved a definitive merger agreement with Fortis, Inc. (TSX: FTS), Canada’s largest investor-owned gas and electric distribution utility, that calls for Fortis to acquire all of the outstanding common stock of UNS Energy for $60.25 per share in cash.

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International law firm Clifford Chance advised Goldman Sachs International on the origination and securitisation of a €363,000,000 commercial real estate loan secured over a portfolio of shopping centres and retail parks in Italy.

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