Cahill represented BofA Merrill Lynch and Citigroup as joint book-running managers and Barclays, Credit Suisse, Morgan Stanley, and Jefferies as co-managers in connection with the public offering of $700,000,000 aggregate principal amount of 5.25% Senior Notes due 2019 by Springleaf Finance Corporation, a leading consumer finance company. Proceeds from the offering will be used to refinance existing indebtedness and for general corporate purposes.
Tags: Cahill Gordon & Reindel LLP | New York
The insurance giant’s takeover ranks as the largest deal between two UK companies in the last five years.
Allen & Overy corporate partners David Broadley and Philip Jarvis are advising insurance giant Aviva on its GBP5.6 billion acquisition of life insurance specialist Friends Life Group Limited. More >>
Tags: Allen & Overy LLP | LondonDeal is Prudential’s third longevity transaction in the U.K. market in 2014 that Willkie has handled.
The firm recently represented Prudential Retirement Insurance and Annuity Company (PRIAC) in its $2.2 billion longevity risk transfer transaction with Legal & General Group Plc. Under the terms of the transaction, PRIAC will provide reinsurance of longevity risk for a portion of Legal & General’s pension bulk annuity business, which provides security to thousands of U.K. retirees. This was Prudential’s third longevity transaction in the U.K. market in 2014, following its agreement to reinsure $27.7 billion of longevity risk associated with BT Pension Scheme’s liabilities (the largest single longevity transaction on record) and $1.7 billion of longevity risk associated with Rothesay Life Limited’s liabilities under 93 U.K. defined benefit plans. More >>
Tags: London | New York
The Firm is representing Silver Lake Partners and IPC Corp. (“IPC”) in connection with the sale of IPC to Centerbridge Partners, L.P. for approximately $1.2 billion. The transaction is expected to close in the first quarter of 2015, subject to customary regulatory and other closing conditions. More >>
Tags: Simpson Thacher & Bartlett LLP | New York
Paul Hastings LLP, a leading global law firm, announced today that it represented the banks arranging $550 million in financing for The Carlyle Group’s acquisition of a controlling interest in Southeast PowerGen, LLC, an operator of six natural gas-fired power plants in Georgia, from ArcLight Capital Partners and GIC, Singapore’s sovereign wealth fund. More >>
Tags: Paul Hastings, LLP | New York
Akin Gump has advised VimpelCom Holdings BV as borrower and VimpelCom Amsterdam BV as guarantor under a $1 billion credit facility from China Development Bank and Bank of China, which was signed on November 19, 2014. More >>
Tags: Akin Gump Strauss Hauer & Feld LLP | LondonBarnes & Noble announced that it has entered into agreements with Microsoft providing for the termination of the commercial agreement between Microsoft and NOOK Media and the acquisition by Barnes & Noble of Microsoft’s preferred interest in NOOK Media for approximately $62.4 million in cash and approximately 2.7 million shares of Barnes & Noble common stock. Cravath represented Barnes & Noble in connection with this transaction. More >>
Tags: New YorkDavis Polk advised underwriters represented by Citigroup Global Markets Inc., Daiwa Capital Markets Europe Limited, Morgan Stanley & Co. International plc and TD Securities (USA) LLC in connection with the offering of $1 billion aggregate principal amount of 1.625% U.S. dollar bonds due 2019, issued by Export Development Canada. More >>
Tags: New York
International law firm Freshfields Bruckhaus Deringer has advised CVC Capital Partners on its agreement to acquire a controlling stake in Sky Betting & Gaming, the online betting and gaming business owned by Sky plc.
The transaction values Sky Bet at £800 million, with Sky receiving £600 million cash on completion, together with further deferred and contingent consideration. More >>
Verrill Dana LLP, a full-service law firm with principal offices in Portland, Maine and Boston, Massachusetts, announced today that the attorneys and staff of Levett Rockwood, P.C., a highly respected business law firm located in Westport, Connecticut, will join Verrill Dana on January 1, 2015. As a result of this combination, Verrill Dana will have approximately 140 lawyers and expand its ability to service clients throughout New England. More >>
Tags: Verrill Dana LLP | Boston | Portland (ME)