Jones Day Expands Banking & Finance Practice in Düsseldorf with Team Led by Claudia Leyendecker

Monday, November 12, 2012

Jones Day’s Düsseldorf Office, opened in March 2012, continues its rapid growth with the addition of a Banking & Finance team led by Claudia Leyendecker. Ms. Leyendecker and her team join a number of other market-leading lawyers who have moved to Jones Day’s Düsseldorf Office in the past few months, including the transactional team of Dr. Ulrich Brauer, Dr. Kerstin Mast, and Dr. Ralf Recknagel; an employment law team led by Dr. Markus Kappenhagen; and an IP practice led by Kai Rüting. The team led by Ms. Leyendecker includes three additional attorneys with in-depth experience in regulatory and capital investment law: Mathias Raabe and Marc von Ammon, joining the Firm as European Counsel, and Markus Brusch.

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Tags:  Jones Day | Germany

Restructuring and Insolvency Partner to Join SH

Monday, November 12, 2012

International law firm Stephenson Harwood has appointed Elizabeth (Libby) Elliott to its banking group within the finance practice. Elizabeth joins from the restructuring and insolvency group of SNR Denton where she was a partner. She joins Sue Moore who arrived at Stephenson Harwood last month and who was also previously a partner in the SNR Denton restructuring and insolvency group.

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Willkie Paris Office Advises Bank Pools and 44 French Authorities on €610 Million Bond Issue

Monday, November 12, 2012

On November 8, it was announced that a group of 44 French local authorities, including regions, cities, and other local public institutions, successfully launched a €610 million jumbo bond at 4.30% due in 10 years. A multidisciplinary team of Willkie attorneys represented all 44 issuers and bank pools including Natixis, CACIB and HSBC. The newly announced bond issue, the first bond issue of this size in France relative to the large number of entities involved, will finance public investments that were pending due to the several months-long banking liquidity shortage. More than 30 French and international investors have already subscribed to this currently unrated bond.

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Tags:  Willkie Farr & Gallagher LLP

Davis Polk – McJunkin Red Man Corporation $650 Million Term Loan Credit Facility

Monday, November 12, 2012

Davis Polk advised Goldman Sachs Lending Partners LLC as lead arranger and Bank of America, N.A. as administrative agent in connection with the redemption of McJunkin Red Man Corporation’s (MRMC) 9.5% senior secured notes due 2016 (the “Notes”) with a new $650 million senior secured term loan credit facility. The new credit facility is secured by a security interest in substantially all the assets of MRMC, MRC Global, Inc. (MRC Global), the parent of MRMC, and MRC Global’s material domestic subsidiaries on a first-lien or, in the case of certain assets also securing MRC Global’s asset-based revolving facility, a second-lien basis. The Notes will be redeemed with the proceeds of term loans under the new facility and drawings under MRMC’s revolving facility. U.S. Bank National Association is acting as collateral trustee under the new term loan facility.

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Tags:  Davis Polk & Wardwell LLP | New York

Davis Polk Adds Top-Tier U.K. M&A Lawyer Will Pearce, Further Developing London-Based English Law Practice

Monday, November 12, 2012

Davis Polk today announces that Will Pearce, a prominent M&A and corporate finance lawyer, will join the firm as a partner in its London office. Mr. Pearce’s arrival expands Davis Polk’s London-based English law practice, which launched earlier this year with Simon Witty, one of the City’s preeminent capital markets lawyers, and Jonathan Cooklin, an equally distinguished tax lawyer. With a rapidly growing suite of premier English law capabilities to complement its unsurpassed U.S. law practice in London, the firm further expands the scope of its offerings on complex securities, mergers and acquisitions and other cross-border corporate matters in the world’s key financial centres.

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Tags:  Davis Polk & Wardwell LLP