Cravath represented the managers, led by BofA Merrill Lynch, J.P. Morgan Securities and Wells Fargo Securities, in connection with the €700 million Regulation S debt offering of Albemarle Corporation, a leading global developer, manufacturer and marketer of highly engineered specialty chemicals across a diverse range of end markets. The notes were listed on the Irish Stock Exchange. The transaction closed on December 8, 2014. More >>

Simpson Thacher represented the underwriters, led by joint bookrunners Morgan Stanley & Co. LLC, Jefferies LLC, Piper Jaffray & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, and co-manager, Wells Fargo Securities, LLC, in the initial public offering by Neff Corporation (“Neff”) of an aggregate of 10,476,190 shares of its Class A common stock. Neff also granted the underwriters a 30-day option to purchase up to an additional 1,571,428 shares of Class A common stock to cover over-allotments. The offering raised aggregate net proceeds of approximately $146 million. Neff’s Class A common stock is listed on the New York Stock Exchange under the symbol “NEFF” and opened for trading on November 21, 2014. Neff intends to use the net proceeds of the offering primarily to repay outstanding indebtedness. More >>

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 >>

Cahill represented the joint book-running managers and the co-managers in connection with the Rule 144A offering of $1,250,000,000 aggregate principal amount of 5.25% Senior Secured First Priority Notes due 2021 by HD Supply, Inc., one of the largest industrial distributors in North America. Proceeds from the offering were used to refinance existing indebtedness.

The Firm represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as joint book-running managers in connection with a public offering by UnitedHealth Group Incorporated of $750 million aggregate principal amount of 1.400% Notes due December 15, 2017, $500 million aggregate principal amount of 2.300% Notes due December 15, 2019 and $750 million aggregate principal amount of 2.875% Notes due December 15, 2021. The offering closed on December 8, 2014. More >>

Debevoise & Plimpton LLP is advising Protective Life Corporation (“Protective”) in a definitive agreement under which Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”) will acquire all outstanding shares of Protective for $70.00 per share in cash, or a total transaction value of approximately $5.7 billion. More >>

Cahill represented Wells Fargo Securities, Citigroup, and Morgan Stanley as joint book-running managers, and the co-managers in connection with the public offering of $225,000,000 aggregate principal amount of 5.375% Senior Notes due 2024 by Tenneco Inc., one of the world’s leading manufacturers of clean air and ride performance products and systems for light vehicle, commercial truck and off-highway applications. Proceeds from the offering were used to repurchase Tenneco’s existing notes due 2018.