Simpson Thacher Represented Initial Purchasers in Sale of $1.0 Billion Senior Notes due 2017 and $1.0 Billion Senior Notes due 2022 by FMG Resources (August 2006) Pty Ltd

Friday, March 23, 2012

Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., RBS Securities Inc. and UBS Securities LLC, in the sale of an aggregate principal amount of $1.0 billion 6.000% Senior Notes due 2017 and $1.0 billion 6.875% Senior Notes due 2022 of FMG Resources (August 2006) Pty Ltd, an Australian corporation (“FMG”), and a direct wholly-owned subsidiary of Fortescue Metals Group Ltd (“Fortescue”), pursuant to Rule 144A and Regulation S. The notes are guaranteed by certain of Fortescue’s direct and indirect subsidiaries. The deal closed on March 19, 2012. FMG intends to use the net proceeds from the offering to expand its existing operations and for general corporate purposes.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Paul, Weiss – Barclays Capital and J.P. Morgan Complete $1.6 Billion Notes Offering

Thursday, March 22, 2012
Paul, Weiss clients Barclays Capital and J.P. Morgan completed a more than $1.6 billion offering of senior secured term and variable funding notes backed by a “whole business” securitization of the assets of Domino’s Pizza on March 15. Paul, Weiss represented Barclays Capital as sole structuring advisor and joint bookrunning manager, and J.P. Morgan as joint bookrunning manager. The transaction refinanced the company’s 2007 securitization. The notes were secured by substantially all of the revenue-generating businesses of Domino’s, including company owned store licensing fees, franchising revenues and distribution revenues.

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Tags:  Paul, Weiss, Rifkind, Wharton & Garrison LLP | New York

Simpson Thacher Represents Barclays in $880 Million Senior Secured Credit Facilities for iStar Financial, Inc.

Thursday, March 22, 2012
The Firm recently represented Barclays Bank PLC as administrative agent in connection with $880 million of senior secured credit facilities for iStar Financial, Inc. (“iStar”).  Barclays Capital and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as Joint Lead Arrangers and Joint Bookrunners and J.P. Morgan Securities LLC acted as Joint Bookrunner. The credit facilities include a $410 million A-1 tranche maturing in four years and a $470 million A-2 tranche maturing in 5 years.

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Davis Polk – Verso Paper $345 Million Senior Secured Notes Offering and Concurrent Tender Offer

Thursday, March 22, 2012
Davis Polk advised Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Barclays Capital Inc. and Goldman, Sachs & Co. as initial purchasers on a Rule 144A/Regulation S offering by Verso Paper Holdings LLC and its subsidiary, Verso Paper Inc., of $345 million aggregate principal amount of their 11.75% senior secured notes due 2019. The notes are guaranteed by certain of Verso Paper Holdings’ subsidiaries and are secured by first priority liens on substantially all of the issuers’ and guarantors’ assets.

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Tags:  Davis Polk & Wardwell LLP | New York

Shearman & Sterling Advises on $2.25 Billion Financing for Deere & Company

Wednesday, March 21, 2012
Shearman & Sterling advised Deere & Company, John Deere Capital Corporation and John Deere Bank S.A. as borrowers under a $1.5 billion multiyear credit facility and a $750 million 364-day credit facility arranged by J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated and a related amendment to the existing $2.5 billion 49-month credit facility.

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Curtis Advises World Courier Group, Inc. in its $520 Million Sale to AmerisourceBergen

Wednesday, March 21, 2012
Curtis, Mallet-Prevost, Colt & Mosle LLP represented World Courier Group, Inc., the premier global specialty-transportation and logistics provider for the biopharmaceutical industry, and its stockholders in its recent agreement to be acquired by AmerisourceBergen Corporation, one of the world’s largest pharmaceutical services companies, for $520 million in cash.

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Tags:  Curtis, Mallet-Prevost, Colt & Mosle LLP | New York

Davis Polk – Spectrum Brands Senior Notes Offering and Concurrent Tender Offer and Consent Solicitation

Wednesday, March 21, 2012
Davis Polk advised Credit Suisse Securities (USA) LLC, as representative of the several initial purchasers, on a Rule 144A/Regulation S offering by Spectrum Brands, Inc., of $300 million aggregate principal amount of its 6.75% senior notes due 2020. The notes are guaranteed by Spectrum Brands’ immediate parent company and by certain of its subsidiaries. Davis Polk also advised Credit Suisse Securities (USA) LLC as dealer manager and solicitation agent of a concurrent tender offer and consent solicitation by Spectrum Brands to purchase any and all of its outstanding 12% senior subordinated notes due 2019. The tender offer was funded with the proceeds of the 2020 notes offering.

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Simpson Thacher Represents Underwriters in $400 Million Senior Notes Offering by Covanta Holding Corporation

Wednesday, March 21, 2012
Simpson Thacher recently represented the Underwriters, led by Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Credit Agricole Securities (USA) LLC, J.P. Morgan Securities LLC and Citigroup Global Markets Inc., in a registered offering of $400,000,000 6.375% Senior Notes due 2022 by Covanta Holding Corporation.

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Shearman & Sterling Advises ICE on Its Launch of Over-the-Counter Foreign Exchange Clearing

Tuesday, March 20, 2012
Shearman & Sterling is advising IntercontinentalExchange, a leading operator of global over-the-counter (OTC) markets, clearing houses and regulated futures exchanges, on its launch of a new clearing facility for OTC Non-Deliverable Forward Foreign Exchange (FX) contracts. The firm has previously advised ICE on the establishment of ICE Clear Europe and ICE Clear Credit, including the development of credit default swaps (CDS) clearing, as well as on several significant acquisitions and other transactions. ICE now lists over 300 unique CDS contracts for clearing and to date has cleared over $28 trillion in gross notional for U.S. and European index and single name CDS. ICE also provides clearing services for its futures and OTC markets, including the central clearing of more than 1.5 million futures and OTC Energy contracts per day.

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