Paul, Weiss clients Barclays Capital and J.P. Morgan completed a more than $1.6 billion offering of senior secured term and variable funding notes backed by a “whole business” securitization of the assets of Domino’s Pizza on March 15. Paul, Weiss represented Barclays Capital as sole structuring advisor and joint bookrunning manager, and J.P. Morgan as joint bookrunning manager. The transaction refinanced the company’s 2007 securitization. The notes were secured by substantially all of the revenue-generating businesses of Domino’s, including company owned store licensing fees, franchising revenues and distribution revenues.

The Firm recently represented Barclays Bank PLC as administrative agent in connection with $880 million of senior secured credit facilities for iStar Financial, Inc. (“iStar”).  Barclays Capital and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as Joint Lead Arrangers and Joint Bookrunners and J.P. Morgan Securities LLC acted as Joint Bookrunner. The credit facilities include a $410 million A-1 tranche maturing in four years and a $470 million A-2 tranche maturing in 5 years.

Davis Polk advised Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Barclays Capital Inc. and Goldman, Sachs & Co. as initial purchasers on a Rule 144A/Regulation S offering by Verso Paper Holdings LLC and its subsidiary, Verso Paper Inc., of $345 million aggregate principal amount of their 11.75% senior secured notes due 2019. The notes are guaranteed by certain of Verso Paper Holdings’ subsidiaries and are secured by first priority liens on substantially all of the issuers’ and guarantors’ assets.