Paul Hastings LLP, a leading global law firm, announced today that the firm represented Atlas Pipeline Partners, L.P., a master limited partnership, in amending its revolving credit facility with the initial borrowing capacity of $800 million, and contains an accordion feature of up to an additional $250 million, which, if exercised, will increase the Partnership’s total available borrowing capacity to $1.05 billion.
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Paul, Weiss client Burger King Worldwide Inc. announced a definitive merger agreement with Tim Hortons Inc., a Canadian multinational fast casual restaurant chain, under which the two companies will create a new quick service restaurant company with an international footprint and significant growth potential. The new global company will be based in Canada, the largest market of the combined company.
The Real Deal reported that real estate investors David Werner and Mark Karasick have secured a $700 million loan from Morgan Stanley Mortgage Capital Holdings to complete their acquisition of the leasehold position in the iconic Mobil Building at 150 East 42nd Street in one of the biggest financing deals of the year. The deal involved entering into a 99-year ground lease extension with the land owner, purchasing the existing leasehold from Hiro Real Estate, and creating a sub-leasehold condominium for Mt. Sinai Medical Center. Olshan attorneys from several practice groups represented the buyers in the transaction: Warren Gleicher and Shirlee Gordon in Tax and Joint Ventures; Thomas Kearns in Real Estate; Martin Cooper, Yehuda Markovits, and Jason Saltsberg in Corporate; and Mark Limardo and Eric Homsi in Tax. Steve Holm, Andrew Kellner and Dana Gallo at Levy Holm Pellegrino & Drath LLP, Lisa Rinaldi at Gerstein Strauss & Rinaldi LLP, and Joseph Hershkovitz at Frenkel, Hershkowitz & Shafran LLP served as co-counsel on the deal.
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International law firm Freshfields Bruckhaus Deringer has advised CITIC Pacific on its acquisition of all of the issued share capital of CITIC Limited from mainland-based CITIC Group and its subsequent share placement to 27 professional and international investors for a total amount of US$6.8bn to settle part of the consideration of the acquisition.
Tags: Freshfields LLPHunton & Williams LLP advised the underwriters in the sale of $400,000,000 Alabama Power Company 4.150% Senior Notes, due October 1, 2044.
Alabama Power provides electricity supply and service to 1.4 million homes, businesses and industries in the southern two-thirds of Alabama. It is one of four US utilities operated by Southern Company, one of the nation’s largest producers of electricity. Alabama Power is the second largest subsidiary of Southern Company, serving homes, businesses and industries in the southern two-thirds of Alabama. More than 78,000 miles of power lines carry electricity to customers throughout 44,500 square miles.
International law firm Milbank, Tweed, Hadley & McCloy LLP represented the joint bookrunners, Goldman Sachs International, UBS Investment Bank, Natixis and Société Générale on the €320 million offering of senior secured notes by HOLDIKKS S.A.S and the lenders under a €40 million super-senior secured revolving credit facility of IKKS Group.
Tags: Milbank LLPMunger, Tolles & Olson LLP is representing Berkshire Hathaway in a $3 billion commitment to finance the proposed merger between Burger King Worldwide Inc. and Tim Hortons Inc. announced Aug. 26, 2014.
Simpson Thacher is representing Japan’s Murata Manufacturing Co., Ltd. in its acquisition of the entire equity interest in NASDAQ-listed Peregrine Semiconductor Corp. Murata Electronics North America, Inc., a wholly-owned subsidiary of Murata, will acquire Peregrine for a transaction value of approximately US$465 million, or US$12.50 per share in cash. The transaction, which is subject to Peregrine’s stockholder approval, regulatory approvals and other customary closing conditions, is expected to close by the end of 2014 or early 2015.
Tags: Simpson Thacher & Bartlett LLP
Global law firm White & Case LLP has advised PointPark Properties (P3), the specialist owner, developer and manager of European logistics properties, on the €523 million acquisition of a Czech logistics portfolio from two funds controlled by Tristan Capital Partners and VGP.
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Herbert Smith Freehills is advising AGL on its A$1.505 billion acquisition of the assets of Macquarie Generation , including the 2,640MW Bayswater Power Station, the 2,000MW Liddell Power Station, the 50MW Hunter Valley Gas Turbine and the Liddell Solar Farm (MacGen Assets), and associated A$1.2 billion capital raising and A$350 million debt funding.
The MacGen Assets give AGL, one of Australia’s leading integrated energy companies that operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio, ownership of the lowest cost, large-scale baseload generators in NSW and increase AGL’s registered generation capacity in the National Electricity Market by approximately 82 percent to more than 10,400 MW.
Tags: Herbert Smith Freehills LLP