Simpson Thacher Represents First Data in Refinancing

Simpson Thacher represented First Data Holdings Inc. (“First Data”) in steps designed to increase its flexibility and options to refinance and extend the maturities of its current capital structure. To effect these changes, First Data agreed to issue $300 million of new convertible preferred equity to KKR and other existing shareholders. The net proceeds will be used to repay a portion of the approximately $2 billion of its 11.5% senior PIK notes due 2016, with the remainder to be exchanged for new 14.5% senior PIK notes due 2019.

More >>

Tags:  Simpson Thacher & Bartlett LLP | New York

White & Case Advises Deutsche Bank on CeramTec Acquisition Financing

Global law firm White & Case LLP has advised the New York branch of Deutsche Bank AG as Administrative Agent as well as Deutsche Bank Securities Inc., RBC Capital Markets and UBS Securities LLC as Joint Lead Arrangers and Joint Bookrunners of senior secured facilities provided by a syndicate of banks for the acquisition financing of German-based CeramTec Group by European private equity firm Cinven from US chemicals manufacturer Rockwood Holdings.

More >>

Tags:  White & Case LLP | New York

Arnold & Porter Represents Republic of Turkey in Its Second Islamic Bond Offering

The Republic of Turkey closed today a $1.25 billion Sukuk offering, its second such closely-watched financing transaction within the last 14 months. The Republic had closed its first-ever Islamic finance offering in September, 2012, which consisted of lease certificates due in 2018 and had also raised $1.5 billion. In the latest offering, the New York and London offices of Arnold & Porter LLP again acted as Turkey’s international legal counsel, in association with Somay Hukuk Burosu, the Republic’s Turkish counsel.

More >>

Tags:  Arnold & Porter Kaye Scholer LLP | New York

Simpson Thacher Represents First Reserve Corporation in its Investment in American Energy – Utica, LLC

Simpson Thacher is representing First Reserve Corporation in connection with its equity investment in an aggregate $1.7 billion fund-raising by American Energy – Utica, LLC (“AEU”). The proceeds of the fund-raising will be used by AEU to pursue a business plan focused on the Utica Shale play in eastern Ohio, including acquiring acreage of leaseholds and financing drilling operations which are expected to commence in the fourth quarter of 2013.

More >>

Tags:  Simpson Thacher & Bartlett LLP | New York

Willkie Represents Men’s Wearhouse in Rejection of $2.3 Billion Buyout Bid

On October 9, Willkie client Men’s Wearhouse announced that after careful evaluation its Board of Directors has determined to reject a $2.3 billion buyout bid from men’s apparel retailer Jos. A Bank Clothiers, Inc. As widely reported in the press, the Board concluded that the unsolicited, non-binding proposal of $48 per share “undervalues Men’s Wearhouse and its strong prospects for continued growth and value creation, and is not in the best interests of Men’s Wearhouse or its shareholders.” Founded in 1973, Houston-based Men’s Wearhouse is one of North America’s largest specialty retailers of men’s apparel with 1,137 stores. Based in Hampstead, MD, Jos. A Bank has over 600 stores nationwide.

More >>

Tags:  Willkie Farr & Gallagher LLP | New York