The Firm recently represented the underwriters, led by Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC, in the SEC-registered offering of $2 billion of senior notes of NBCUniversal Media, LLC, comprising $1 billion of 2.875% Senior Notes due 2023 and $1 billion of 4.450% Senior Notes due 2043.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents Hovnanian Enterprises, Inc. in $900 Million Aggregate Offerings of Senior Secured Notes and Exchangeable Note Units and in Related Tender Offer
Simpson Thacher represented Hovnanian Enterprises, Inc. (NYSE: HOV) (the “Company”), one of the nation’s largest homebuilders and a long-standing client of the Firm, in connection with the private placement offering of $577 million 7.25% Senior Secured First Lien Notes due 2020 and $220 million 9.125% Senior Secured Second Lien Notes due 2020 and the registered offering of $100 million aggregate stated amount of 6.00% Exchangeable Note Units (equivalent to 100,000 Units) (which amount includes the full exercise of the over-allotment option granted to the underwriters), with each Unit composed of a senior exchangeable note and a senior amortizing note. The offerings resulted in aggregate gross proceeds of approximately $900 million. Hovnanian used the proceeds of the offerings to fund the cash tender offer and consent solicitation (the “Tender Offer”) for any and all of its 10?% Senior Secured Notes due 2016 (the “Existing Secured Notes”) and to redeem any of its Senior Notes not tendered pursuant to the Tender Offer.
Tags: Simpson Thacher & Bartlett LLP | New YorkMilbank Represents Underwriters In $844 Million EETC Offering By Continental Airlines
International law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Securities partner Arnold Peinado and Transportation and Space partner Elihu Robertson, acted as US counsel to the underwriters in a $844 million public offering of enhanced equipment trust certificates (“EETCs”) by Continental Airlines, Inc.
Tags: Milbank LLP | New YorkPaul Weiss – Roark Capital Management Closes $1.5 Billion Private Equity Fund
Paul, Weiss advised Roark Capital Management in the final closing of Roark Capital Partners III. The final closing secured commitments bringing the aggregate total to $1.5 billion, which exceeded the initial target of $1.25 billion. The fund will target control equity and equity-related investments in middle-market companies primarily in the United States.
Tags: Paul, Weiss, Rifkind, Wharton & Garrison LLP | New YorkPaul Weiss – Oaktree Sells Aircraft Leasing Company to Mitsubishi Unit for $1.3 Billion
As reported in The New York Times, Paul, Weiss client Oaktree Capital Management agreed to a sale of its aircraft leasing company JSA International, which operates as Jackson Square Aviation, to Mitsubishi Corp.’s unit UFJ Lease and Finance Co., Ltd. for U.S. $1.3 billion. San Francisco-based Jackson Square, set up in 2010 with $500 million seed money from Oaktree, operates a fleet of about 70 aircraft with branch offices in Seattle, Miami, Europe and Asia. The deal will be financed with cash and bank loans and is expected to close in December.
Tags: Paul, Weiss, Rifkind, Wharton & Garrison LLP | New YorkShearman & Sterling Advises on Interbank’s US$250 Million Senior Notes Offering
Shearman & Sterling represented Banco Internacional del Perú S.A.A.- Interbank, a Peruvian bank, acting through its Panamanian branch in connection with its 144A/Regulation S offering of US$250 million aggregate principal amount of its 5.750% Senior Notes Due 2020. This offering is a reopening of its previous offering of 5.750% Senior Notes due 2020 issued on October 7, 2010.
Tags: Shearman & Sterling LLP | New YorkShearman & Sterling Advises on US$4.1 Billion Grupo Financiero Santander México IPO
Shearman & Sterling represented the syndicate of banks led by UBS Securities LLC as sole financial advisor and led by global coordinators Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Santander Investment Securities Inc. and UBS Securities LLC, underwriting the US$4.1 billion initial public offering of American depositary shares represented by shares of Series B common stock of Grupo Financiero Santander México, S.A.B. de C.V., the Mexican subsidiary of Spain’s Banco Santander S.A. Grupo Financiero Santander México, S.A.B. de C.V. dual listed its shares with the New York Stock Exchange and the Mexican Stock Exchange.
Tags: Shearman & Sterling LLP | New YorkMilbank Represents Bosque Power Company in $432 Million Sale of Texas Power Plant
International law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Corporate partner John Franchini together with Global Project Finance partner William Bice, acted as counsel to Bosque Power Company, in the $432 million sale, plus adjustments, of its 800-megawatt central Texas power plant to Calpine Corporation, the largest U.S. independent power generator.
Tags: Milbank LLP | New YorkPaul Hastings Represents Waypoint Homes in Securing $245 Million Financing from Citibank
Paul Hastings LLP, a leading global law firm, announced today that the firm represented Waypoint Homes, a leading acquirer of single-family properties, in a $245 million financing facility from Citibank, which is a uniquely structured financing vehicle for multiple single family homes.
Tags: Paul Hastings LLP | New YorkLeading ETF Lawyer Richard Morris to Join Morgan Lewis
Morgan Lewis announced today that Richard Morris, a leading exchange traded fund (“ETF”) lawyer, will join the firm as a Partner in its Investment Management and Securities Industry practice, resident in the firm’s New York office.
Tags: Morgan Lewis & Bockius LLP | New York