Covington Advises SandRidge in $1.275 Billion Acquisition of Dynamic Offshore Resources and Related Financing

Covington & Burling advised SandRidge Energy, Inc. on its announced acquisition of Dynamic Offshore Resources, LLC for $1.275 billion in cash and stock. Under the agreement, SandRidge will pay about $680 million in cash and approximately 74 million shares of SandRidge common stock valued at $8.02 per share. Covington also advised SandRidge on the related $725 million in committed financing from Bank of America Merrill Lynch, SunTrust Robinson Humphrey and Royal Bank of Scotland that the Company may use to fund the cash portion of the consideration.

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Tags:  Covington & Burling LLP | New York

Pillsbury Expands in Structured Finance with New York Partners

Pillsbury today announced that Anthony Schouten and Jeffrey Stern have joined its Finance group as partners in New York. Formerly with Stroock & Stroock & Lavan LLP, the highly-regarded partners’ experience includes securitization, derivatives, commodities and cross-border structured financings. Their addition continues Pillsbury’s strategic expansion of its New York office and further strengthens the firm’s capabilities for advising commercial and investment banks, asset managers, private equity funds and global businesses in structured finance.

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Tags:  Pillsbury Winthrop Shaw Pittman LLP | New York

Eric Simonson Joins Blank Rome and Enhances the Firm’s Corporate and Securities Experience

Blank Rome LLP is pleased to announce that Eric Simonson has joined the Firm as a partner in the Mergers & Acquisitions and Private Equity group. Mr. Simonson has more than 25 years of experience in the areas of mergers and acquisitions, securities, corporate finance, technology transactions, general business and corporate law. Mr. Simonson is based in the Firm’s New York office.

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Tags:  Blank Rome LLP | New York

Paul, Weiss Advises Quiznos in Restructuring Deal

As reported in The Wall Street Journal and The Deal Pipeline on Wednesday, Paul, Weiss client Quiznos has concluded a comprehensive restructuring deal with a group of lenders led by hedge fund Avenue Capital Group. All of the company’s second-lien debt will be converted into equity and Avenue Capital will inject $150 million of new equity capital into the quick serve franchise business. The company’s first-lien debt also was restructured as were certain other liabilities. According to Quiznos’ chief executive, Greg MacDonald, “improving our balance sheet and putting our capital structure issues behind us are major steps forward to strengthening the Quiznos brand and our customer experience.”

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