Milbank Advises on US$400 Million Acquisition Financing for Leading Insurance Company Global Atlantic

International law firm Milbank, Tweed, Hadley & McCloy LLP represented Goldman Sachs and Royal Bank of Canada as Joint Bookrunners and Goldman Sachs, Royal Bank of Canada and Lloyds Bank as Joint Lead Arrangers in connection with the $300 million term loan facility, which closed in 2014 and was used to finance, in part, Global Atlantic Financial Group’s (Global Atlantic) acquisition of Forethought Financial Group (Forethought).  Milbank also represented Lloyds Bank as Sole Lead Arranger for Global Atlantic’s $100 million letter of credit and revolving credit facility that closed in 2013.

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Tags:  Milbank LLP | New York

Akin Gump Advises Monongahela Power Company in Closing of $1 Billion Bond Offering

Akin Gump advised Monongahela Power Company, a wholly owned subsidiary of FirstEnergy Corp., in a Rule 144A/Reg. S offering of $1 billion of first mortgage bonds. The bonds were issued in two tranches: $400 million of 4.10 percent bonds due 2024 and $600 million of 5.40 percent bonds due 2043. Monongahela Power is using the proceeds primarily to repay existing debt, including debt incurred in connection with its recent acquisition of sole ownership of the coal-fired Harrison Power Station (1,984 MW) in an asset swap with affiliate, Allegheny Energy Supply Company LLC.

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Tags:  Akin Gump Strauss Hauer & Feld LLP | New York