Simpson Thacher Represents Vanguard Health Systems, Inc. in $375.0 Million Senior Notes Add-on Offering

Simpson Thacher represented Vanguard Health Systems, Inc. (“Vanguard”) in connection with the private placement offering, including registration rights for investors, of $375.0 million aggregate principal amount of 7.750% Senior Notes due 2019 issued by its wholly-owned subsidiaries, Vanguard Health Holding Company II, LLC (“VHS Holdco II”) and Vanguard Holding Company II, Inc. (together with VHS Holdco II, the “Issuers”), conducted in reliance on Rule 144A and Regulation S. The notes were issued as additional notes under an existing indenture, pursuant to which the Issuers issued $350 million aggregate principal amount of 7.750% Senior Notes due 2019 in January 2011. The Issuers intend to use the net proceeds from the offering for general corporate purposes, which may include, but not be limited to, working capital, capital expenditures, acquisitions, the repayment of any outstanding indebtedness under their existing revolving credit facility and to pay the fees and expenses incurred in connection with this offering.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Herbert Smith Advises Goldman Sachs, Citi and HSBC on Top-up Placings of Two Hong Kong-headquartered Multinationals

Herbert Smith advised Goldman Sachs (Asia) and The Hongkong and Shanghai Banking Corporation, as joint placing agents, on the sale of 210 million shares of Li & Fung Limited held by its controlling shareholder, Li & Fung (1937) Limited, for HK$3.9 billion (US$502 million) under a top-up placement.

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Tags:  Herbert Smith Freehills Kramer LLP | Hong Kong

Shearman & Sterling Advises on $1.6 Billion Refinancing for LPL Holdings

Shearman & Sterling advised Bank of America, N.A. as administrative agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman Sachs Bank USA as joint lead arrangers in connection with a $1.6 billion senior secured refinancing for LPL Holdings, Inc.‬ Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman Sachs Bank USA, J.P. Morgan Securities LLC and Morgan Stanley Senior Funding, Inc. acted as joint bookrunners in connection with the refinancing.

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Tags:  Shearman & Sterling LLP | New York

Dechert Guides Medco to Antitrust Clearance for High Profile $29 Billion Merger

Medco Health Solutions, Inc. and Express Scripts, Inc. announced today that the companies closed their $29 billion merger, the largest consummated deal of 2012. Dechert developed the antitrust strategy for Medco and guided the company to an unconditional closing after an extensive eight month review that involved the Federal Trade Commission, 32 state attorneys general, and two Congressional committees.

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Tags:  Dechert LLP