Davis Polk advised Delphi Corporation in connection with an SEC-registered offering of $800 million aggregate principal amount of its 5% senior notes due 2023. The notes are guaranteed by Delphi Automotive PLC, the parent company of Delphi Corporation, and certain of its subsidiaries. J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner and Smith Incorporated, Deutsche Bank Securities Inc., Barclays Capital Inc., Citigroup Global Markets Inc. and Goldman, Sachs & Co. acted as joint book-running managers for the offering. Delphi intends to use the net proceeds from the offering to repay a portion of the term loan indebtedness outstanding under its revolving credit facility, and for general corporate purposes.

More >>

The Firm recently represented Team Health Holdings, Inc. (“TeamHealth”), Ensemble Parent LLC (an affiliate of The Blackstone Group), and certain management shareholders in the sale by the selling shareholders of 9,633,107 shares of TeamHealth common stock, resulting in gross proceeds of $319,915,483. Ensemble Parent LLC sold 9,588,990 shares, representing the remainder of its ownership of TeamHealth’s stock. Barclays and Citigroup acted as joint bookrunners for the offering.

More >>

The Firm represented the underwriters, led by Morgan Stanley & Co. LLC, Goldman, Sachs & Co. and UBS Securities LLC, as joint book-running managers, in connection with a public offering of 6,000,000 shares of 5.375% Non-Cumulative Perpetual Preferred Stock, Series A, $0.01 par value per share, with a liquidation preference of $25 per share, of Cullen/Frost Bankers, Inc. The offering closed on February 15, 2013.

More >>

The Firm represents affiliates of Blackstone Real Estate Partners in the formation of Invitation Homes, L.P., a national platform to purchase distressed single family homes and then refurbish, lease and maintain them in neighborhoods across the country. According to press reports, Invitation Homes has spent more than $2.5 billion on 16,000 homes to manage as rentals, making Invitation Homes the largest owner of single-family homes in the country. In connection with the formation of Invitation Homes, the Firm represented affiliates of Invitation Homes in a $600 million revolving credit facility with Deutsche Bank as administrative agent.

More >>

Weil advised AMR, the parent company of American Airlines, in connection with its proposed approximately $11 billion merger with US Airways Group—a merger that would create the world’s largest airline, offering 6,700 daily flights to 336 destinations in 56 countries. The transaction has been approved by the boards of directors of both companies and is expected to close in the third quarter of 2013.

More >>

Troutman Sanders continued the expansion of its Lending and Structured Finance practice, announcing today that it has added a three-member team to its New York office.

More >>

Polsinelli Shughart is pleased to welcome Edward M. Fox as a shareholder to the firm’s New York office where he will assist clients with bankruptcy and financial services needs. Fox comes to the firm with more than 25 years experience, and has served as partner and head of the bankruptcy departments at several major law firms.

More >>

Shearman & Sterling recently advised on CorpBanca’s $800 million 3.125% Senior Notes and Common Share offerings.
The firm represented Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as underwriters in connection with CorpBanca’s registered offering of $800,000,000 3.125% Senior Notes due 2018. Proceeds from the offering will be applied towards general corporate purposes, primarily to fund CorpBanca’s lending activities.

More >>

Paul Hastings LLP, a leading global law firm, represented Credit Suisse, Citi and Morgan Stanley as initial purchasers in connection with Grupo Sanborns’ initial public offering made internationally pursuant to Rule 144A and Regulation S and on the Mexican Stock Exchange. Grupo Sanborns is the flagship company of the Carlos Slim empire and one of the most iconic and well-known brands in Mexico.

More >>

On February 14, H.J. Heinz Company, the iconic maker of ketchup and other food products, announced that it has entered into a definitive merger agreement to be acquired by an investment consortium comprised of Berkshire Hathaway and 3G Capital in a transaction valued at $28 billion, including the assumption of Heinz’s outstanding debt. Willkie represented BofA Merrill Lynch, financial advisor to Heinz, in the transaction. Under the terms of the agreement, which has been unanimously approved by Heinz’s Board of Directors, Heinz shareholders will receive $72.50 in cash for each share of common stock they own.

More >>