Simpson Thacher acted as U.S. counsel for the underwriters, led by Scotia Capital Inc. and Morgan Stanley & Co. LLC, as joint bookrunners, in connection with an offering of CAD$250 million aggregate principal amount of 8.25% Senior Secured Notes due 2017 issued by Postmedia Network Inc. (“Postmedia”). The Notes are guaranteed by Postmedia Network Canada Corp., Postmedia’s parent. Postmedia is the largest publisher by circulation of paid English-language daily newspapers in Canada, representing some of the country’s oldest and best known media brands.
Tags: Simpson Thacher & Bartlett LLP | New YorkDavis Polk – Warner Chilcott $1 Billion Leveraged Recapitalization
Davis Polk advised Warner Chilcott plc on its $1 billion leveraged recapitalization. Under this recapitalization, subsidiaries of Warner Chilcott borrowed $600 million of term loans under an amendment to its secured credit facility. Proceeds of the financings together with cash on hand will be used to fund a special one-time cash dividend of $4.00 per share, or approximately $1 billion in the aggregate.
Tags: Davis Polk & Wardwell | New YorkDavis Polk – Aetna Inc. $2 Billion Senior Unsecured Bridge Facility in Connection with Its Acquisition of Coventry Health Care
Davis Polk is advising Aetna Inc. on a $2 billion senior unsecured bridge loan facility in connection with its acquisition of Coventry Health Care, Inc. The bridge facility is being arranged by Goldman Sachs Bank USA, UBS Securities LLC and UBS Loan Finance LLC. The facility would be available to Aetna to pay a portion of the cash consideration used for its purchase of Coventry Health Care, Inc. in the event Aetna has not completed a planned senior notes offering prior to the closing of the acquisition.
Tags: Davis Polk & Wardwell | New YorkLeading Private Equity and M&A Transactional Lawyer Taurie Zeitzer Joins New York Office of Kirkland & Ellis LLP
Kirkland & Ellis LLP is pleased to announce that Taurie M. Zeitzer has joined the New York office as a partner in the Corporate Practice Group. Ms. Zeitzer joins the Firm from the New York office of Latham & Watkins LLP, where she was a partner in the corporate department.
Tags: Kirkland & Ellis LLP | New YorkDavis Polk – Moody’s Corporation $500 Million Senior Notes Offering
Davis Polk advised Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint book-running managers on an SEC-registered debt offering by Moody’s Corporation of $500 million aggregate principal amount of 4.5% senior notes due 2022.
Tags: Davis Polk & Wardwell | New YorkDavis Polk Advises Sterling Financial Corporation on Secondary Common Stock Offering
Davis Polk advised Sterling Financial Corporation in connection with its SEC-registered secondary offering of 5,738,637 shares of its common stock by the U.S. Department of the Treasury (Treasury) for proceeds of approximately $115 million. Treasury’s initial preferred stock investment in Sterling, made as part of the Troubled Asset Relief Program’s (TARP) Capital Purchase Program (CPP), was exchanged for common stock on August 26, 2010, as part of a larger recapitalization of the company.
Tags: Davis Polk & Wardwell | New YorkDavis Polk Advises Aetna on Its Acquisition of Coventry Health Care
Davis Polk is advising Aetna Inc. on its acquisition of Coventry Health Care, Inc. valued at $7.3 billion, including the assumption of Coventry debt. The transaction is subject to customary closing conditions, including receipt of Coventry stockholder approval and antitrust and state regulatory approvals. The transaction is expected to close in mid-2013.
Tags: Davis Polk & Wardwell | New YorkCahill Represents Underwriters in $750 Million Public Offering for ILFC
Cahill represented Citigroup, Morgan Stanley, RBC Capital Markets, and UBS Investment Bank as joint book-running managers and the co-managers in connection with the public offering of $750,000,000 5.875% Senior Notes due 2022 by International Lease Finance Corporation. Proceeds from the offering will be used for general corporate purposes.
Tags: Cahill Gordon & Reindel LLP | New YorkCahill – H&E Equipment Services Completes $530 Million Notes Offering
Cahill represented Deutsche Bank Securities, Credit Suisse, and BofA Merrill Lynch as joint book-running managers in connection with the Rule 144A/Reg S offering of $530,000,000 Senior Notes due 2022 by H&E Equipment Services, Inc., one of the largest integrated equipment dealerships in the United States. Cahill also represented the dealer manager in connection with the consent solicitation and tender offer for any and all of H&E’s outstanding 8.375% Senior Notes due 2016.
Tags: Cahill Gordon & Reindel LLP | New YorkSimpson Thacher Represents Underwriter in Follow-on Offering by Dunkin’ Brands Group, Inc.
The Firm recently represented the underwriter, Citigroup Global Markets Inc., in connection with a registered public offering of common stock of Dunkin’ Brands Group, Inc. A total of approximately $652.6 million in proceeds was raised in the offering. Affiliates of Bain Capital LLC, The Carlyle Group, Thomas H. Lee Partners and RGIP, LLC received all of the gross proceeds from the offering.
Tags: Simpson Thacher & Bartlett LLP | New York