Momentive Performance Materials Inc. (with its subsidiaries “Momentive”) is one of the world’s largest producers of silicones and silicone derivatives, and is a global leader in the development and manufacture of products derived from quartz and specialty ceramics. Milbank represented an ad hoc committee of creditors (the “Ad Hoc Committee”), collectively holding over $400 million of the second lien notes issued by Momentive. The company encountered severe liquidity issues in 1Q 2014 as the continued slowdown of global economic growth and increasing over-capacity in its industry negatively impacted the results of both the silicones and quartz businesses. More >>

Cravath represented INEOS Group Holdings S.A. in connection with its €600 million and US$590 million 144A/Reg. S high‑yield senior debt offering, guaranteed by INEOS Luxembourg S.A., INEOS Holdings Limited and certain of their subsidiaries. INEOS is one of the world’s largest chemical companies and has highly integrated, world‑class chemical facilities and production technologies. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on February 18, 2014. More >>

Cahill represented JPMorgan Chase Bank as administrative agent, J.P. Morgan Securities and Wells Fargo Securities as lead arrangers and the other arrangers in connection with the $6,750,000,000 Term B loan, and $500,000,000 revolving credit facility for 1011778 B.C. Unlimited Liability Company (an entity that will own existing Burger King and Tim Hortons if the acquisition is consummated) and New Red Finance, Inc. Proceeds from the facility will be used to finance a portion of the acquisition, to repay existing indebtedness and for general corporate purposes. The facility closed into escrow, subject to the closing of the acquisition. More >>

Willkie recently advised Prudential in its $1.4 billion pension risk transfer transaction with Bristol-Myers Squibb Co. The transaction, which was announced on September 30, 2014, comes on the heels of the September 25 announcement of the pension risk transfer transaction between Prudential and Motorola Solutions. Read Willkie’s Announcement. Under the terms of this transaction, Bristol-Meyers Squibb has agreed to purchase a group annuity contract from The Prudential Insurance Company of America that will transfer to Prudential responsibility for the administration and payment of $1.4 billion of retirement benefits to approximately 8,000 Bristol-Meyers Squibb retirees. The transfer to Prudential is expected to occur in December 2014 and is subject to satisfaction of closing conditions. More >>

Simpson Thacher represented Tesoro Logistics LP (“TLLP”) and Tesoro Logistics Finance Corp., as co-issuers, in connection with a Rule 144A/Regulation S offering of $500 million aggregate principal amount of their 5.50% Senior Notes due 2019 (the “2019 Notes”) and $800.0 million aggregate principal amount of their 6.25% Senior Notes due 2022 (the “2022 Notes”). TLLP will use the proceeds from the 2019 Notes to repay indebtedness outstanding under its revolving credit facility and for general partnership purposes. The proceeds from the 2022 Notes were funded into escrow, which upon release, will be used, together with the portion of the proceeds from the offering of the 2019 Notes that was to be used for general partnership purposes, the proceeds from an equity offering by TLLP that closed on October 24, 2014, the proceeds from borrowings under TLLP’s amended and restated revolving credit facility and the proceeds from a contribution to TLLP’s equity by its general partner, to fund the consummation of TLLP’s announced acquisition of QEP Field Services, LLC (“QEPFS”) from QEP Resources, Inc. and the payment of related fees and expenses. More >>