Davis Polk advised Freeport-McMoRan Copper & Gold Inc. (FCX) in connection with its SEC-registered offering of $3 billion of senior notes. FCX will use the proceeds from the offering plus cash on hand to redeem all of its outstanding 8.375% senior notes due 2017.

Kramer Levin today helped achieve confirmation of a plan of reorganization in the $7 billion bankruptcy of Washington Mutual, Inc. (“WaMu”), which was filed in 2008 in the wake of the largest bank failure in U.S. history. Judge Mary Walrath confirmed the plan after a hearing in U.S. Bankruptcy Court in Wilmington, Delaware. Kramer Levin represented a longtime client that was a significant holder of WaMu debt. The firm and the client helped resolve several complex issues in the case, leading to a consensual plan that ultimately will permit WaMu’s assets to be distributed to a wide range of stakeholders.

International law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Securities partner Robert W. Mullen, Jr., acted as US counsel in a $3 billion offering by the Government of Canada of its 0.875% United States Dollar Bonds due in 2017.  The bonds were purchased by a group of twelve underwriters, for whom Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and RBC Capital Markets, LLC acted as representatives.  The offering raised net proceeds of approximately $2.99 billion.

The Firm recently represented the initial purchasers, led by J.P. Morgan, in the offering of $500 million of 8% Senior Notes due 2020 (the “Notes”) and the add-on offering of $100 million of Notes by The ServiceMaster Company pursuant to Rule 144A and Regulation S.  The net proceeds of the offering are being used to redeem a portion of ServiceMaster’s 10.75% / 11.50% Senior Toggle Notes due 2015.