Simpson Thacher Represents Initial Purchasers in Connection with Cinemark USA, Inc.’s $400 Million Senior Notes Offering and the Lenders in Connection with the Amendment and Restatement of Cinemark USA, Inc.’s Senior Credit Facility

The Firm recently represented the initial purchasers in connection with Cinemark USA, Inc.’s private placement of $400 million aggregate principal amount of 5.125% Senior Notes due 2022 and Barclays Bank PLC and the other lenders in connection with the amendment and restatement of the Cinemark USA, Inc. Senior Credit Facility. Barclays Capital Inc., Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities LLC acted as joint book-running managers, and Nomura Securities International, Inc. acted as co-manager, in connection with the senior notes offering. Barclays acts as joint bookrunner, Deutsche Bank Securities Inc., acts as joint bookrunner and co-documentation agent, Morgan Stanley Senior Funding, Inc. acts as joint bookrunner and syndication agent, Wells Fargo Securities, LLC acts as joint bookrunner and co-documentation agent, Webster Bank, N.A. acts as co-documentation agent and Barclays Bank PLC continues to act as administrative agent in connection with the amended and restated credit facility. Cinemark USA, Inc. intends to use the net proceeds from the senior notes offering and borrowings under the amended and restated credit facility to fund the repayment of all remaining outstanding amounts under its previous credit facility, to fund a portion of the purchase price for substantially all of the theaters of Rave cinemas and for fees and expenses related to the refinancing transactions.

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Simpson Thacher Represents Underwriters in $250 Million Debt Offering by Brandywine Operating Partnership, L.P. and Brandywine Realty Trust

The Firm represented underwriters, led by J.P. Morgan, Bank of America Merrill Lynch and RBS, in a $250 million public offering of 3.95% Guaranteed Notes due 2023 of Brandywine Operating Partnership, L.P. The Notes are guaranteed by Brandywine Realty Trust, the parent company of Brandywine Operating Partnership, L.P.

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Simpson Thacher Represents Initial Purchasers in US $600 Million Securitized Fixed Rate Senior Secured Notes Offering by Subsidiaries of Iconix Brand Group, Inc.

The Firm represented the initial purchasers, led by Barclays Capital Inc., in connection with a US $600 million offering of 4.229% Fixed Rate Senior Secured Notes by subsidiaries of Iconix Brand Group, Inc. The offering was made to qualified institutional buyers in reliance on Rule 144A and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The net proceeds from the offering were used to repay amounts outstanding under Iconix’s existing revolving credit facility and costs associated with the securitized financing transaction as well as to finance a portion of Iconix’s purchase of the Umbro brand and general corporate purposes.

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King & Spalding Advises Sprint on Acquisition of 100 Percent of Clearwire

King & Spalding advised Sprint Nextel in its definitive agreement with Clearwire Corporation in which Sprint will acquire the approximately 50 percent stake in Clearwire it does not currently own for $2.97 per share, equating to a total cash payment to Clearwire shareholders, other than Sprint, of $2.2 billion and an enterprise value for Clearwire of $10 billion. King & Spalding also advised Sprint in connection with voting and support agreements for the transaction that were obtained from Clearwire shareholders Comcast, Intel Capital and Bright House Networks.

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Tags:  King & Spalding LLP | New York