Orrick, Herrington & Sutcliffe LLP recently advised Shutterstock, Inc. in the first initial public offering (IPO) for a New York-based technology company in more than two years. Trading on the New York Stock Exchange under ticker symbol SSTK, the company raised $81.8 million in its IPO, which priced at $17 per share (above the proposed range of $13 to $15 per share) and landed the company’s market value at more than half a billion dollars. As a further testament to the offering’s success, the value of shares increased almost 30% to a value of $21.66 during the company’s first day of trading.

More >>

Cahill represented Barclays, Deutsche Bank Securities and BofA Merrill Lynch as joint physical book-running managers and the other managers in connection with the Rule 144A/Reg S offering of $1,200,000,000 comprised of $700,000,000 aggregate principal amount of 5.875% Senior Notes due 2020 and $500,000,000 aggregate principal amount of 6.250% Senior Notes due 2022 by HDTFS, Inc., who will be merged into The Hertz Corporation. Proceeds from the offering will be used to partially fund the acquisition of Dollar Thrifty Automotive Group Inc.

More >>

Cahill represented Barclays, BofA Merrill Lynch, and Credit Suisse as joint book-running mangers in connection with the Rule 144A/Reg S offering of $550,000,000 aggregate principal amount of 7.75%/8.50% Contingent Cash Pay Senior Notes due 2017 by Alphabet Holding Company, Inc., the parent company of NBTY, Inc. Proceeds from the offering will be used to pay a dividend.

More >>

Kramer Levin’s client Sirius XM significantly expanded its current satellite radio subscription business to now include telematics services and products for automobiles. Pursuant to a Master Services Agreement, Sirius XM will be the exclusive provider of a comprehensive suite of telematics services for Nissan branded vehicles, including 24/7 emergency support for accidents, stolen vehicle tracking and roadside assistance through smartphones, tablets and automotive vehicle devices.

More >>

Paul, Weiss client HCP announced that it has entered into a definitive agreement to acquire 133 senior housing communities for $1.73 billion, from a joint venture between Emeritus Corporation and Blackstone Real Estate Partners VI, an affiliate of The Blackstone Group.

More >>

Cahill represented the joint book-running managers in connection with the Rule 144A/Reg S offering of $210,000,000 aggregate principal amount of 8.375% Senior Notes due 2020 by Southern Graphics Inc. Proceeds from the offering will be used in part to fund the acquisition of Southern Graphics Inc., a regional graphic services pre-press provider, by funds affiliated with Onex Corporation and to refinance existing indebtedness.

More >>

Davis Polk is advising Murphy Oil Corporation in connection with the spinoff to its stockholders of Murphy Oil USA, Inc., its U.S. downstream subsidiary, into an independent and separately traded company. Murphy Oil has also authorized a special dividend of $2.50 per share for a total dividend of approximately $500 million and a share buyback program of up to $1 billion. The spinoff of Murphy Oil USA will be subject to customary conditions, including confirmation of the tax-free nature of the transaction and receipt of customary regulatory approvals.

More >>

Davis Polk advised Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC as joint book-running managers on an SEC-registered offering of $396.75 million aggregate principal amount of 1.75% convertible senior notes due 2032 of Stillwater Mining Company (which amount includes the full exercise of the over-allotment option).

More >>

Paul Hastings LLP, a leading global law firm, announced today that the firm represented Banco Continental S.A.E.C.A., one of the largest banks in Paraguay, in connection with its issuance of $200 million 8.875% Senior Notes due 2017 pursuant to Rule 144A and Regulation S.

More >>

The Firm recently represented J.P. Morgan Securities, as joint physical bookrunner and joint lead arranger and bookrunner, and JPMorgan Chase Bank, N.A. as administrative agent, in connection with a $1.82 billion senior secured credit facility for iStar Financial, Inc. (“iStar”). Proceeds from the facility were used to refinance iStar’s existing 2011 credit facility.

More >>