Davis Polk advised Goldman, Sachs Lending Partners LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc., and RBC Capital Markets as joint lead arrangers and joint bookrunners, and KKR Capital Markets LLC, MCS Capital Markets LLC and Blackstone Holdings Finance Co.
White & Case LLP has advised a syndicate of banks led by Banca IMI S.p.A., as agent, and Banca IMI S.p.A., Banca Nazionale del Lavoro S.p.A. and UniCredit S.p.A. as arrangers and bookrunners, on a €130 million term and revolving credit facility for Esprinet S.p.A.
Esprinet is a wholesale distributor of IT and consumer electronics that operates in Italy and Spain, serving around 40,000 reseller clients and supplying 600 brands.
The Firm represented the initial purchasers and the lenders, led by Goldman, Sachs & Co.
Davis Polk is advising Greenhill & Co., LLC as financial adviser to Gannett Co., Inc. in connection its acquisition of the 73% interest it does not already own in Classified Ventures LLC, which owns Cars.com, for $1.8 billion in cash. The transaction, which is subject to regulatory approval and other customary closing conditions, is expected to be completed in the fourth quarter of 2014.
Simpson Thacher represented Kohlberg Kravis Roberts & Co. L.P. in connection with Walgreen Co.’s (NYSE: WAG) announcement that it has exercised its option to complete the second step of its strategic transaction with Alliance Boots. The transaction, subject to shareholder and various regulatory approvals, would fully combine the two companies to form the first global pharmacy-led, health and well-being enterprise under the name Walgreens Boots Alliance. The transaction is expected to close in the first quarter of 2015.
Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, in an offering of $250 million in aggregate principal amount of 4.25% Senior Notes due 2024 by Symetra Financial Corporation (“Symetra”).
Proceeds from the offering are expected to be used for general corporate purposes, which may include but are not limited to working capital, capital expenditures, repayment of outstanding indebtedness, stock repurchases and dividends.
Davis Polk advised JPMorgan Chase & Co. as a shareholder of Tribune Media Company in connection with its spinoff of Tribune Publishing Company. Pursuant to the spinoff, 25,042,263 shares of Tribune Publishing Company common stock were distributed pro-rata to the holders of Tribune Media Company Class A common stock, Class B common stock and warrants. Tribune Media Company received $275 million in connection with the spinoff, consisting of a cash dividend paid by Tribune Publishing Company prior to the spinoff.
The Firm represented the initial purchasers, led by J.P. Morgan Securities LLC and Goldman, Sachs & Co. as joint book-running managers and Scotia Capital (USA) Inc., U.S. Bancorp Investments, Inc., Lloyds Securities and PNC Capital Markets LLC as co-managers, in a Rule 144A/Regulation S offering by Compass Minerals International, Inc. (NYSE: CMP) of $250 million principal amount of 4.875% Senior Notes due 2024. The offering closed on June 23, 2014.
Davis Polk advised JPMorgan Chase Bank, N.A., as administrative agent, and Barclays Bank PLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, JPMorgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint bookrunners, and BNP Paribas Securities Corp., The Bank of Tokyo-Mitsubishi UFJ, Ltd., HSBC Bank USA, National Association, Mizuho Bank, Ltd., RBC Capital Markets, RBS Securities Inc., Santander Bank, N.A., Societe Generale, S
The Firm recently represented RBC Capital Markets and JPMorgan Chase in connection with credit facilities relating to Sinclair Television Group, Inc.’s. $985.0 million acquisition of certain television station assets from Allbritton Communication Co.
Sinclair Television is a wholly-owned subsidiary of Sinclair Broadcast Group, Inc. and is one of the largest and most diversified television broadcasting companies in the United States.