Leading insurance law firm Nelson Levine announced today that Marc Abrams has joined the firm as a partner in the Reinsurance Practice, resident in its New York office.
Tags: New York
Simpson Thacher Represents Associated Materials, LLC in $100 Million Senior Secured Notes Offering
Simpson Thacher represented Associated Materials, LLC (“Associated Materials”) and its co-issuer in connection with an offering of $100 million aggregate principal amount of 9.125% senior secured notes due 2017. The notes were issued as additional notes under the same indenture governing $730 million of existing senior secured notes. Associated Materials used a portion of the net proceeds from the notes to repay all of the outstanding borrowings under its senior secured asset-based revolving credit facilities and intends to use the remaining net proceeds for other general corporate purposes.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents the Underwriters in an Offering of $275 Million of Preferred Stock by Aspen Insurance Holdings Limited
The Firm represented the underwriters, led by Barclays Capital Inc., Citigroup Global Markets Inc. and Goldman, Sachs & Co. as joint book-running managers, in connection with a registered offering of 11,000,000 shares of 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares of Aspen Insurance Holdings Limited, representing $275,000,000 in aggregate liquidation preference. The offering closed on May 2, 2013.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents JPMorgan in connection with Asset-Based Credit Facilities for Momentive Specialty Chemicals Inc. and Momentive Performance Materials Inc.
Simpson Thacher recently represented JPMorgan as a lead arranger and administrative agent in connection with a new $400 million senior secured asset-based credit facility for Momentive Specialty Chemicals Inc. (“MSC”) and $270 million senior secured asset-based credit facility for Momentive Performance Materials Inc. (“MPM”), each to replace all or part of its respective existing revolving credit facility. The MSC credit facility has US, Canadian, Dutch and English borrowers, and the MPM credit facility has US, Canadian and German borrowers.
Tags: Simpson Thacher & Bartlett LLP | New York
Willkie Advises on Brookfield’s $426 Million Acquisition of MPG Office Trust
On April 25, it was announced that Brookfield Office Properties Inc. and its affiliates have entered into a definitive merger agreement with MPG Office Trust, Inc. pursuant to which a newly formed fund (“DTLA Holdings”) controlled by Brookfield will acquire MPG for a total equity value of about $426 million.
Tags: Willkie Farr & Gallagher LLP | New YorkWillkie Represents W. R. Berkley in $350 Million Hybrid Bond Offering
On May 2, Willkie client W. R. Berkley closed on its offering of $350 million aggregate principal amount of 5.625% Subordinated Debentures due 2053.
Tags: Willkie Farr & Gallagher LLP | New York
Davis Polk Advises an Affiliate of Goldman Sachs on Its Acquisition of Ebix
Davis Polk is advising an affiliate of Goldman, Sachs & Co. in connection with its $820 million acquisition of Ebix, Inc. The proposed transaction, which is subject to antitrust approvals, shareholder approval and other customary closing conditions, is expected to close in the third quarter of 2013.
Tags: Davis Polk & Wardwell LLP | New YorkSimpson Thacher Represents Affiliates of Goldman Sachs & Co. in Connection with the Committed Financing for Their Acquisition of Ebix, Inc.
Simpson Thacher recently represented Broad Street Principal Investments, L.L.C., an affiliate of Goldman Sachs & Co., in connection with the financing for its acquisition of Ebix, Inc. (EBIX), a public company listed on the NASDAQ Global Market. The transaction, which is expected to close later this year, values Ebix, Inc., at about $820 million. Ebix, Inc. is a leading international supplier of software and e-commerce solutions to the insurance industry.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents Cogeco Cable Inc. in $400 Million Senior Notes Offering
The Firm recently represented Cogeco Cable Inc. (“Cogeco Cable”) in its offering of $400 million aggregate principal amount of 4.875% Senior Notes due 2020. Cogeco Cable is using the net proceeds from the offering, together with borrowings under its revolving credit facility, to repay in full the term loan tranches of the senior secured credit facilities entered into in connection with its acquisition of PEER 1 Network Enterprises, Inc. in January 2013. The notes are guaranteed by certain of Cogeco Cable’s wholly-owned subsidiaries. The offering was conducted in reliance on Rule 144A and Regulation S.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents Initial Purchasers in Sale of $250 Million Senior Notes due 2021 by Rent-A-Center, Inc.
Simpson Thacher represented the initial purchasers, led by joint book-running managers, J.P. Morgan Securities LLC and Goldman, Sachs & Co., and by co-managers, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, BB&T Capital Markets, a division of BB&T Securities, LLC and Citigroup Global Markets Inc., in the sale of an aggregate principal amount of $250 million 4.75% Senior Notes due 2021 by Rent-A-Center, Inc. (“Rent-A-Center”). The notes are guaranteed on an unsecured senior basis by each of Rent-A-Center’s existing and future subsidiaries that are either borrowers under Rent-A-Center’s senior credit facilities or that guarantee any indebtedness of Rent-A-Center or any other guarantor, subject to certain exceptions. Rent-A-Center intends to use the net proceeds from the offering to (1) repay $46 million of the revolving loans outstanding under its revolving credit facility and (2) apply the remainder to accelerated common stock repurchases as market conditions permit, and to the extent not so applied, for general corporate purposes.
Tags: Simpson Thacher & Bartlett LLP | New York