Paul Hastings LLP, a leading global law firm, announced today that the firm advised Furniture Brands International (NYSE: FBN), a world leader in designing, manufacturing, sourcing and retailing home furnishings, in closing a $250 million new five year secured financing.

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The Firm represented Goldman, Sachs & Co. and J.P. Morgan Securities LLC, as initial purchasers, in connection with an offering of U.S.$1 billion aggregate principal amount of 4.75% Senior Notes due 2022 issued Grupo Aval Limited (Cayman Islands) and guaranteed by Grupo Aval Acciones y Valores S.A. (Colombia). The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933.

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The Firm recently represented the initial purchasers, led by J.P. Morgan, Deutsche Bank, Wells Fargo, Credit Agricole and Goldman Sachs, in connection with an offering by General Cable Corporation of $600 million aggregate principal amount of its 5.750% Senior Notes due 2022 pursuant to Rule 144A and Regulation S.

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The Firm recently represented CNO Financial Group, Inc. (“CNO”) in connection with a recapitalization that included a private offering of $275 million aggregate principal amount of 6.375% senior secured notes due 2020 and entry into a new senior secured credit agreement consisting of a $250 million four-year term loan facility, a $425 million six-year loan facility and a $50 million three-year revolving credit facility. CNO used the net proceeds of the issuance of the new senior secured notes and borrowings under the new term loan facilities to repay all $224 million outstanding under its existing senior secured credit agreement, repurchase and fund the redemption of $275 million aggregate principal amount of 9.0% senior secured notes due 2018, and repurchase approximately $200 million aggregate principal amount of 7.0% convertible senior debentures due 2016 from entities affiliated with Paulson & Co. Inc.

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Davis Polk advised Citigroup Global Markets, Inc. and Barclays Capital as active joint lead arrangers in connection with a $1 billion 3.5-year unsecured revolving credit facility and a $1.5 billion 5-year unsecured revolving credit facility provided to DIRECTV Holdings LLC. The obligations of the borrower under both credit facilities are guaranteed by DIRECTV and certain of the borrower’s material domestic subsidiaries. The facilities will be used for general corporate purposes.

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Davis Polk advised Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC as representatives of the initial purchasers in connection with the debut global offering by Colombia Telecomunicaciones S.A. ESP of $750 million aggregate principal amount of its 5.375% senior notes due 2022. The notes were offered pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933.

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Davis Polk advised Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Jefferies & Company, Inc. as joint book-running managers on an SEC-registered offering of $125 million aggregate principal amount of 4.5% convertible senior notes due 2017 of XPO Logistics, Inc. The total proceeds of the offering were approximately $120.3 million.

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Davis Polk is advising Merrill Lynch, Pierce, Fenner & Smith Incorporated as sole lead arranger and bookrunner in connection with $2.12 billion of financing provided to Tempur-Pedic International Inc. for its proposed acquisition of Sealy Corporation. The financing consists of $1.42 billion senior secured term loan facilities, a $350 million senior secured revolving credit facility and a $350 million senior unsecured bridge facility.

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Davis Polk advised underwriters represented by Credit Suisse Securities (Europe) Limited, HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Scotia Capital (USA) Inc. in connection with the offering of $1.25 billion aggregate principal amount of 1.65% bonds due 2019, issued by the Province of Ontario.

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Paul Hastings LLP, a leading global law firm, announced today that the firm represented ARCH Capital Management, a boutique Asian real estate investment firm specializing in the management of real estate private equity funds in Asia, as U.S. legal counsel in forming a new real estate private equity fund, ARCH Capital-TRG Asian Master Partners, L.P.

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