Paul Hastings Represents Lead Arrangers in Saxon Refinancing

Paul Hastings LLP, a leading global law firm, announced today that the firm represented RBC Capital Markets, UBS Securities LLC, HSBC Securities (USA) Inc. and The Bank of Nova Scotia as joint lead arrangers in connection with new $550 million senior secured credit facilities consisting of a $440 term loan facility and a $110 million revolving loan facility, the proceeds of which were used, among other things, to refinance existing indebtedness of SES Intermediate Holdings Limited, Saxon Enterprises LLC and Saxon Energy Services Inc., an international oilfield services company.

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Tags:  Paul Hastings LLP | New York

Paul, Weiss – Office Depot and OfficeMax Agree to $1.2 Billion Merger

Paul, Weiss clients PJ Solomon and Morgan Stanley acted as joint financial advisers to Office Depot in its agreement to merge with OfficeMax for $1.2 billion. Terms of the deal call for Boca Raton, Florida-based Office Depot to issue 2.69 shares for each share of OfficeMax, valuing the smaller company at $13.50 per share. Naperville, Illinois-based Officemax will have the ability to pay dividends of up to $131 million, or $1.50 per share, before closing.

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Tags:  Paul, Weiss, Rifkind, Wharton & Garrison LLP | New York

Simpson Thacher Represents Best Buy in Announced Agreement by Citigroup to Purchase Best Buy Card Portfolio

The Firm is representing Best Buy Co., Inc. (NYSE: BBY) in connection with the announced agreement by Citigroup to purchase from Capital One Financial Corporation (NYSE: COF) and issue and manage for Best Buy the $7 billion portfolio of Best Buy-branded private label and co-branded credit cards in the United States. The transaction is subject to customary conditions.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Simpson Thacher Represents Office Depot in Announced Merger of Equals with OfficeMax

The Firm is representing Office Depot, Inc. (NYSE: ODP) in connection with its announced merger with OfficeMax Incorporated (NYSE: OMX). Under the terms of the merger agreement, the companies will be combined in an all-stock merger of equals transaction. The transaction is subject to stockholder approval from both companies, the receipt of regulatory approvals and other customary closing conditions, and is expected to close by the end of calendar year 2013.

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Tags:  Simpson Thacher & Bartlett LLP | New York