Shearman & Sterling represented Credit Suisse Securities (USA) LLC, Barclays Bank PLC and Citigroup Global Markets Limited as representatives of the several initial purchasers in connection with GTECH’s offering of $5.2 billion (equivalent) of temporary senior secured notes, comprising: $600 million aggregate principal amount of 5.625% senior secured notes due 2020, $1,500 million aggregate principal amount of 6.250% senior secured notes due 2022, $1,100 million aggregate principal amount of 6.500% senior secured notes due 2025, €700 million aggregate principal amount of 4.125% senior secured notes due 2020 and €850 million aggregate principal amount of 4.750% senior secured notes due 2023. More >>

The firm has opened an office in Seattle, Washington with former U.S. Attorney, Jenny Durkan. She will serve as Global Chair of the Cyber Law and Privacy Group, and join the firm’s White Collar & Corporate Investigations practice. She will be joined by John (“Jay”) Neukom, a partner from the firm’s San Francisco Office. More >>

Wragge Lawrence Graham & Co’s Life Sciences team has advised GlaxoSmithKline (GSK) on the sale of its shareholding interests in biopharmaceutical company Convergence Pharmaceuticals to NASDAQ-listed Biogen Idec. The $675 million deal takes place just four years after the team advised GSK on the spin-out venture which created Convergence.

The deal sees Biogen Idec pay Convergence shareholders an upfront payment of $200 million for the business and its innovative portfolio of drugs for use in the treatment of neuropathic pain. These include products that have demonstrated ‘proof of concept’ for treating conditions such as sciatica and trigeminal neuralgia, which causes severe, episodic facial pain. Shareholders will also be eligible for future milestone payments of up to $475 million, contingent on future milestone events. More >>