Arrangement of Financing for Rite Aid’s Acquisition of EnvisionRx

On February 11, 2015, Rite Aid, one of the nation’s leading drugstore chains, and Envision Pharmaceutical Services (“EnvisionRx”), a national pharmacy benefit management company, announced that they have entered into a definitive agreement under which Rite Aid will acquire EnvisionRx in a transaction valued at approximately $2 billion. Cravath represented Citigroup, BofA Merrill Lynch, Wells Fargo and Credit Suisse as lead arrangers of an aggregate of $1.8 billion of committed debt financing. The transaction is subject to customary closing conditions, and is anticipated to close by September 2015. More >>

Tags:  Cravath, Swaine & Moore LLP | New York

Carlton Fields Jorden Burt Bolsters Its Business Transactions, International, & Real Estate Practices With Addition In New York

Carlton Fields Jorden Burt is pleased to announce the addition of prominent corporate and real estate attorney, Frank J. Cerza, a shareholder in the firm’s New York office. Cerza is member of the firm’s Business Transactions practice group. He will also work closely with the firm’s International and Real Estate and Commercial Finance practice groups and he will chair the firm’s Italian Desk. More >>

Tags:  Carlton Fields, P.A. | New York

Debevoise Advises Morgan Stanley Global Private Equity in Completed $410 Million Sale of EmployBridge

Debevoise & Plimpton LLP has advised Morgan Stanley Global Private Equity (“MSPE”) in the completed sale of its majority interest in EmployBridge, a leading provider of specialty staffing services, to The Select Family of Staffing Companies, a national provider of workforce management services, for approximately $410 million. MSPE and Constitution Capital acquired EmployBridge for $165 million in May 2011, in a transaction in which Debevoise also advised MSPE. More >>

Tags:  Debevoise & Plimpton LLP | New York | Washington

Arent Fox Adds Two Prominent Intellectual Property Partners in New York

Arent Fox LLP is pleased to announce that experienced Intellectual Property lawyers Steven I. Weisburd and Richard LaCava have joined the firm as partners in the New York office. The two attorneys previously practiced together at Dickstein Shapiro, where Mr. Weisburd was deputy leader of the firmwide IP group. Mr. Weisburd and Mr. LaCava both have wide-ranging practices that span transactions and prosecution of patents, as well as litigation and enforcement of IP rights for clients. More >>

Tags:  ArentFox Schiff LLP | New York

Aaron Borden Joins Vedder Price Finance & Transactions Group

Vedder Price is pleased to announce that Aaron J. Borden has joined the firm’s New York office as a Shareholder in the Finance & Transactions group.

Mr. Borden has represented banks, insurance companies, mezzanine funds and other commercial lenders, as well as borrowers, in a variety of debt and equity financing transactions, including private placements, syndicated bank financings, bilateral loans, first lien, second lien and mezzanine financings, cross-border financings, and acquisition and other leveraged financings. He has also been involved in several complex restructuring, workout and bankruptcy matters. More >>

Tags:  Vedder Price P.C. | New York

Shearman & Sterling Advises Lenders on $900 Million Multi-Currency Refinancing for Aon plc

Shearman & Sterling advised Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint bookrunners, in connection with a $900 million multi-currency refinancing for Aon plc, Aon Corporation and Aon UK Limited. More >>

Tags:  Shearman & Sterling LLP | London | New York | Palo Alto | Silicon Valley

Cahill Represents Underwriters in $500 Million Public Offering by D.R. Horton

Cahill represented Citigroup, Deutsche Bank Securities, J.P. Morgan, RBS, and Wells Fargo Securities as joint book-running managers in connection with the public offering of $400,000,000 aggregate principal amount of 4.000% Senior Notes due 2020 by D.R. Horton, Inc., the largest homebuilding company by volume in the United States. Proceeds from the offering were to be used for general corporate purposes.

Tags:  Cahill Gordon & Reindel LLP | New York

Canadian Pacific Railway Completes $700 Million Public Debt Offering

Paul, Weiss client Canadian Pacific Railway Company completed a public offering in the United States of $700 million of its 2.900% senior notes due 2025. The joint bookrunning managers were Morgan Stanley & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC. Canadian Pacific Railway, which provides rail and intermodal transportation services, is based in Calgary, Alberta. More >>

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