Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has achieved success in the English High Court on behalf of Lehman Brothers Finance SA (in liquidation) (“LBF”) against German private bank Sal Oppenheim jr. & Cie. KGAA. The case required the court to consider key issues relating to the interpretation of payment mechanisms under the ISDA Master Agreement (1992 version).
Davis Polk advised Citibank, N.A., as administrative agent in connection with a $250 million revolving credit facility and a $250 million delayed draw term loan facility for Magellan RX Management, Inc., a direct subsidiary of Magellan Health, Inc. The proceeds of the loans will be used from time to time for general corporate purposes.
Davis Polk advised J.P. Morgan Securities LLC as sole lead arranger and bookrunner and JPMorgan Chase Bank, N.A. as administrative agent in connection with a $1 billion senior unsecured revolving credit and competitive advance facility provided to The Dun & Bradstreet Corporation, which amends and restates the company’s existing $800 million facility. Dun & Bradstreet will use the proceeds of the amended and restated credit facility for general corporate purposes.
Davis Polk advised Toyota Motor Credit Corporation as an issuer in connection with an SEC-registered offering of $1.25 billion aggregate principal amount of 2.125% medium-term notes, Series B due 2019 under its medium-term notes program. The joint book-running managers were Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets, LLC.
Trowers & Hamlins is delighted to have advised new clients Cairn Financial Advisers LLP and HD Capital Partners LLP as nominated adviser and broker, respectively, for TSX-V listed Bacanora Minerals ("Bacanora"), which was successfully admitted to the AIM Market of the London Stock Exchange ("AIM") today after completing a CAD$8.7m equity offering.
Ashurst advised DZ BANK Deutsche Zentralgenossenschaftsbank, Frankfurt am Main and Commerzbank Aktiengesellschaft on the financing of the acquisition of ADA Cosmetics (ADA), a leading maker of hotel cosmetics, by private equity investor Ardian (formerly AXA Private Equity). The acquisition comprised subsidiaries in, inter alia, Austria and Switzerland. The parties have agreed not to disclose the financial terms of the transaction. ADA was sold by funds of the US private equity firm The Carlyle Group.
Shearman & Sterling represented Goldman Sachs International, Jefferies International Limited, and TPG Capital BD, LLC, as initial purchasers, in connection with the offering of £200 million 6.75% Senior Secured Notes due 2020 and £100 million Senior Secured Floating Rate Notes due 2020 issued by TES Finance Plc, a wholly owned subsidiary of TSL Education Group Limited (“TSL Education”).
Simpson Thacher represented the underwriters, led by joint book-running managers J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC, in the initial public offering by Globant S.A. of 6,727,5000 common shares at a price to the public of $10.00 per share, including 877,500 shares sold in connection with the full exercise of the option to purchase additional shares granted to the underwriters. Globant’s common shares are listed on the New York Stock Exchange under the ticker symbol “GLOB.”
Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with a secondary offering by a fund affiliated with The Carlyle Group (“Carlyle”) of 20,125,000 shares of common stock of CommScope Holding Company, Inc. (“CommScope”), a portfolio company of Carlyle. Approximately $445.5 million in net proceeds was raised in the offering.
The Firm is representing J.P. Morgan Securities in its role as financial advisor to CIT Group Inc. (NYSE: CIT) in connection with CIT’s announced acquisition of the parent company of OneWest Bank N.A. for approximately $3.4 billion in cash and common stock. The transaction has been approved by the boards of directors of both companies and is subject to regulatory approvals and other customary closing conditions.