Davis Polk advised the several underwriters in connection with an SEC-registered offering by Atlas Air Worldwide Holdings, Inc. of $224.5 million aggregate principal amount of its 2.25% convertible senior notes due 2022, which included $24.5 million aggregate principal amount of convertible senior notes issued pursuant to the partial exercise of the underwriters’ over-allotment option. In addition, Davis Polk advised the counterparties to convertible note hedge and warrant transactions entered into by Atlas Air in connection with the offering. More >>

Hunton & Williams LLP advised Barclays Capital Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as joint-booking running managers on an SEC registered offering by Xcel Energy Inc. (“Xcel”) of $250 million aggregate principal amount of senior notes due 2017 and $250 million aggregate principal amount of senior notes due 2025. More >>

Paul, Weiss represented The Wendy’s Company in connection with its $2.275 billion whole business securitization of its franchise system. Wendy’s Funding, LLC issued securitization notes, rated BBB by Standard & Poor’s Rating Services, which, among other things, enabled the company to refinance its existing debt and return cash to shareholders. Guggenheim Securities acted as representative of the several initial purchasers of the notes. Notable legal issues of interest included structuring around covenants associated with existing debentures that were left outstanding, the contribution to the securitization entities of all domestic and international, excluding Canada, franchise assets, certain company-operated restaurant assets, over 600 owned real properties and substantially all worldwide intellectual property and drafting disclosure related to the foregoing.

The Paul, Weiss team included financing partners Valerie Radwaner and Jordan Yarett; securities partners Brian Janson and John Kennedy and counsel Phil Heimowitz; intellectual property counsel Claudine Meredith-Goujon; employee benefits partner Lawrence Witdorchic; tax partners Richard Bronstein and Jeffrey Samuels and counsel Alyssa Wolpin; bankruptcy partner Alice Eaton; and real estate partner Peter Fisch.

Kramer Levin Naftalis & Frankel LLP announced today that David S. Berg has joined the firm as a partner in the Corporate Department.

Mr. Berg focuses his practice on corporate and financial transactions, particularly mergers and acquisitions, divestitures, venture capital, private equity, private investment funds, joint ventures and other financing transactions for a wide variety of industries such as aviation, biotech, media, telecom, and forest and paper products. He has significant experience representing both sellers and buyers in domestic and cross-border transactions as well as distressed and special situation investments. He was formerly a partner in Arnold & Porter LLP’s Corporate and Securities Practice. More >>