Goodwin Procter Acts as Lead Counsel in Countrywide RMBS Litigation

Monday, April 22, 2013

Bank of America announced on April 17, 2013 that a settlement in principle has been reached in class action litigation concerning residential mortgage-backed securities (RMBS) issued by subsidiaries of Countrywide Financial Corporation, prior to Countrywide’s acquisition by Bank of America in 2008.  For more information, see Bank of America’s First-Quarter 2013 Press Release. The $500 million settlement resolves claims concerning a total of 429 RMBS offerings with an original principal balance exceeding $350 billion, and is subject to final court approval.

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Tags:  Goodwin Procter LLP

Willkie Advises Issuer in $1.25 Billion Public Debt Offering

Monday, April 22, 2013

On April 15, Willkie client Fidelity National Information Services, Inc. (“FIS”), completed a public offering of $1 billion of 3.5% Senior Notes due 2023 and $250 million of 2.0% Senior Notes due 2018. The offerings represented FIS’s initial entry into the investment grade debt market following recent upgrades by both Moody’s and S&P. The managing underwriters of the offerings were J.P. Morgan, Bank of America Merrill Lynch and Barclays. FIS will use the proceeds to redeem $750 million of 7.625% Notes due 2017 and for general corporate purposes. The deals were preceded by a three-day non-deal roadshow during the week of April 1.

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Tags:  Willkie Farr & Gallagher LLP | New York

Herbert Smith Freehills Advises on the Acquisition and Leaseback of Seven CBD Buildings to the Queensland Government

Monday, April 22, 2013

Herbert Smith Freehills has advised QIC on the acquisition for $614.5 million of seven CBD buildings by QIC Funds from the Queensland Government and the leaseback of those buildings to the Queensland Government. The deal involved the creation of new investment funds to acquire the buildings, the negotiating and drafting of the acquisition agreements and lease terms with the State and associated debt funding arrangements.

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Tags:  Herbert Smith Freehills Kramer LLP

Goodwin Procter Expands Technology Companies Group with Addition of David W. Van Horne, Jr. in San Francisco Office

Friday, April 19, 2013

Goodwin Procter, a national Am Law 50 firm, announced today that David W. Van Horne, Jr. has joined the firm’s Business Law Department in its San Francisco office as a member of Goodwin’s Technology Companies Group. He will focus on representing emerging growth companies throughout their life cycle as well as advising venture capital funds and structuring investments from seed through growth stage. Van Horne joins Goodwin from Gunderson Dettmer, where he was a partner in its Silicon Valley office.

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Tags:  Goodwin Procter LLP | San Francisco

Paul Hastings Represents JPMorgan in $300 Million Credit Facility for Excel Paralubes

Friday, April 19, 2013

Paul Hastings LLP, a leading global law firm, announced today that the firm represented J.P. Morgan Securities LLC and RBS Securities Inc., as joint lead arrangers, and JPMorgan Chase Bank, N.A., as the administrative agent, in connection with a $300,000,000 senior revolving credit facility for Excel Paralubes Funding Corporation and Excel Paralubes.

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Tags:  Paul Hastings, LLP | Houston

Paul Hastings Advises Haitong International on HK$1.17 Billion Rights Issue

Friday, April 19, 2013

Paul Hastings, a leading global law firm, announced today that it represented Haitong International Securities Group Limited (“Haitong International”), a subsidiary of Haitong Securities Co., Ltd., which is the second largest securities firm in China by total assets, in its HK$1.17 billion rights issue. One rights share for every two existing shares was offered at HK$2.55 per rights share.

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Tags:  Paul Hastings, LLP | Hong Kong

K&L Gates Expands Charleston Office with Addition of Corporate and Commercial Disputes Partners

Friday, April 19, 2013

The Charleston office of global law firm K&L Gates LLP welcomes Michael D. Bryan and Julius H. “Sam” Hines as partners in the corporate/M&A and commercial disputes practices, respectively. Bryan joins K&L Gates from Nelson Mullins Riley & Scarborough LLP, where he chaired the firm’s sustainable energy group, while Hines arrives from Womble Carlyle Sandridge & Rice, LLP, where he was a leader of the firm’s admiralty and maritime practice group.

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Tags:  K&L Gates LLP