Orrick, Herrington & Sutcliffe LLP recently advised Wells Fargo Bank, National Association, as administrative agent, and Wells Fargo Securities, LLC, as lead arranger, in connection with the extension of a $140 million secured credit facility to Fortegra Financial Corporation (“Fortegra”) and its wholly-owned subsidiary, LOTS Intermediate Co. The primary purpose of the facility was to partially finance the acquisition of Fortegra by Tiptree Operating Company, LLC (“Tiptree”). The financing includes an amended and restated $140 million secured, five-year credit agreement and provides for a $50 million term loan facility and a $90 million revolving credit facility. More >>

Cravath represented Cox Communications, Inc. in connection with its US$1.35 billion 144A/Reg. S debt offering. Cox Communications, Inc. is a broadband communications and entertainment company, providing advanced digital video, high‑speed Internet and telephone services over its nationwide IP network to approximately six million residences and businesses. The transaction closed on December 8, 2014. More >>

Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC as joint book-running managers on a Rule 144A/Regulation S offering by Medtronic, Inc. of $17 billion aggregate principal amount of notes. The notes were issued in seven tranches: $500 million aggregate principal amount of floating-rate senior notes due 2020, $1 billion aggregate principal amount of 1.500% senior notes due 2018, $2.5 billion aggregate principal amount of 2.500% senior notes due 2020, $2.5 billion aggregate principal amount of 3.150% senior notes due 2022, $4 billion aggregate principal amount of 3.500% senior notes due 2025, $2.5 billion aggregate principal amount of 4.375% senior notes due 2035 and $4 billion aggregate principal amount of 4.625% senior notes due 2045. The offering is tied for the second-largest corporate bond offering on record and represents the largest corporate bond offering of 2014 to date. More >>