On March 4, Radian Group Inc. announced that it has completed its concurrent public offerings of 39.1 million shares of Common Stock and $400 million principal amount of Convertible Senior Notes due 2019. Willkie represented the underwriters, led by joint bookrunning managers Morgan Stanley & Co. LLC and Goldman, Sachs & Co., with co-managers, Dowling & Partners Securities, LLC, Keefe, Bruyette & Woods, Inc., Macquarie Capital (USA) Inc. and Wells Fargo Securities, LLC, with respect to the Common Stock offering, and Keefe, Bruyette & Woods, Inc., with respect to the Convertible Notes offering.
Tags: Willkie Farr & Gallagher LLP | New YorkSimpson Thacher Represents Education Management Corporation in Private Exchange Offer
The Firm recently represented Education Management Corporation in a private exchange offer by its indirect subsidiaries Education Management LLC and Education Management Finance Corp., in which they exchanged approximately $361 million aggregate principal amount of their 8.75% Senior Notes due 2014 for (i) approximately $201 million aggregate principal amount of new Senior Cash Pay/PIK Notes due 2018 and (ii) approximately $160 million of cash.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents JPMorgan in Repricing of Web.com Bank Debt
The Firm recently represented J.P. Morgan Securities LLC, as lead arranger, in an amendment and restatement of the First Lien Credit Agreement of Web.com Group, Inc. (“Web.com”), which amendment and restatement repriced the loans thereunder and increased the revolving facility thereunder to $70 million and the term loan facility thereunder to $660 million (the proceeds of which were used to repay Web.com’s second lien term loan in full).
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents Goldman Sachs Bank (USA) in Loan Financing for Empresas ICA
The Firm recently represented Goldman Sachs Bank USA in connection with a US$200 million loan financing to Empresas ICA, S.A.B. de C.V. The loan proceeds will be used to fund an upfront payment for the grant of a concession by the Mexican Government to develop an 83-kilometer toll road between the states of Queretaro and Guanajuato, Mexico, the Palmillas Project.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents the Administrative Agent in Refinancing of $2 Billion Revolving Credit Facility for QVC, Inc.
The firm recently represented the Administrative Agent in connection with the amendment and restatement of QVC, Inc.’s $2,000,000,000 revolving credit agreement.
Tags: Simpson Thacher & Bartlett LLP | New YorkSidley Austin LLP Expands M&A and Private Equity Practices With Addition of Mark Thompson
Sidley Austin LLP announced today that it has added Mark E. Thompson as a partner in its New York and London offices. Mr. Thompson will be a member of the Firm’s M&A and Private Equity practices.
Tags: Sidley Austin LLP | New YorkMayer Brown Adds Lewis Greenwald as Partner in New York Tax Transactions & Consulting Practice
Mayer Brown, a leading global law firm, announced today that Lewis J. Greenwald, has joined the New York office as a partner in the Tax Transactions & Consulting practice. Mr. Greenwald focuses his practice on providing international tax planning for multinational clients.
Tags: Mayer Brown LLP | New YorkSimpson Thacher Represents JPMorgan and Citibank in $2.8 Billion Revolving Credit Facility for Sprint Nextel Corporation
The Firm recently represented JPMorgan Chase Bank, N.A., as administrative agent, and Citibank, N.A., as syndication agent, in a new $2.8 billion revolving credit facility for Sprint Nextel Corporation. The new five year credit facility replaces the company’s existing $2.2 billion facility that was to expire in October 2013. The new facility provides supplemental liquidity for general corporate purposes and will be used to support the letter of credit required by the Federal Communications Commission’s Report and Order to reconfigure the 800 MHz band.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents Nielsen in $1.288 Billion Secondary Offering of Common Stock
The Firm recently represented Nielsen Holdings N.V. (“Nielsen”), a portfolio company of AlpInvest Partners, The Blackstone Group, The Carlyle Group, Centerview Partners, Hellman & Friedman, Kohlberg Kravis Roberts & Co. and Thomas H. Lee Partners (together, the “Sponsors”) in connection with a secondary offering of 40,814,884 shares of Nielsen’s common stock. The offering closed at a public offering price of $32.55 per share, resulting in gross proceeds to the Sponsors of approximately $1.288 billion.
Tags: Simpson Thacher & Bartlett LLP | New YorkPaul Hastings Advises Debt Financing Sources in Berkshire’s Acquisition of SRS Distribution
Paul Hastings LLP, a leading global law firm, announced today that the firm represented UBS AG, Stamford Branch, as administrative agent in connection with both a $220 million term loan and a $100 million asset-based revolving credit facility, and UBS Securities LLC and Barclays Bank PLC as arrangers in connection with such credit facilities, the proceeds of which at closing were used to partially finance the acquisition of SRS Holding Corporation, the parent company of roofing supply distributor SRS Distribution Inc., by Berkshire Partners LLC.
Tags: Paul Hastings LLP | New York