Davis Polk advised Deutsche Bank Securities Inc. as the sole underwriter in connection with an SEC-registered follow-on offering by Kennedy-Wilson Holdings, Inc. of 6,900,000 shares of Kennedy-Wilson’s common stock, which included 900,000 shares that the underwriter purchased pursuant to an additional share purchase option. The net proceeds from the offering totaled approximately $122.2 million.
The Firm recently represented Citigroup Global Markets Inc., Deutsche Bank AG, Singapore Branch, Goldman Sachs International, The Hongkong and Shanghai Banking Corporation Limited, The Korea Development Bank and Woori Investment & Securities Co., Ltd., as underwriters, in connection with The Republic of Korea’s US$1.0 billion takedown offering of 3.875% Notes due 2023 under its shelf registration program on Schedule B registered with the U.S. SEC.
The Firm represented Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC, the lead dealer managers, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, the co-dealer manager, for the modified “Dutch” auction tender offer by Halliburton Company for $3.3 billion of its common stock. The tender offer expired on August 22, 2013 and settlement for the tender offer occurred on August 29, 2013. The shares acquired represented approximately 7.4% of the total number of shares of Halliburton common stock issued and outstanding as of August 20, 2013.
Simpson Thacher represented affiliates of GSO Capital Partners as the lead backstop party and, together with the other backstop parties, provided a commitment of $406,000,000 in connection with a rights offering which was the crucial financing necessary to permit Kodak’s emergence from bankruptcy. The rights offering was implemented through Kodak’s plan of reorganization, which had the support of all of its major creditor constituencies. Kodak emerged from bankruptcy on September 3, 2013.
Leading international law firm, Freshfields Bruckhaus Deringer has advised Bank of America Merrill Lynch, J.P. Morgan Cazenove and UBS as joint bookrunners in connection with the sale by UK Financial Investments on behalf of HM Treasury of approximately 6% of its shareholding in Lloyds Banking Group.
Slaughter and May advised UK Financial Investments Limited ('UKFI') on the disposal of part of HM Treasury's shareholding in Lloyds Banking Group ('the Company') to raise proceeds of £3,211,525,582.
The disposal was effected by way of a placing of shares by way of an accelerated bookbuilding process to institutional investors.
Davis Polk is advising Morgan Stanley & Co. LLC as the sole dealer manager in connection with a modified “Dutch Auction” cash tender offer by Polycom, Inc. to purchase up to $250 million in value of its common stock at a price range that is not greater than $11.50 nor less than $10.00 per share. The number of shares of common stock proposed to be purchased in the tender offer (at the minimum purchase price of $10.00 per share) represents approximately 14.7% of the company’s outstanding common stock as of September 9, 2013.
Davis Polk advised Morgan Stanley & Co. LLC, Barclays Capital Inc. and RBC Capital Markets, LLC as the initial purchasers in connection with a Rule 144A offering by Cubist Pharmaceuticals, Inc. of $350 million aggregate principal amount of its 1.125% convertible senior notes due 2018 and $450 million aggregate principal amount of its 1.875% convertible senior notes due 2020. In addition, Davis Polk advised Morgan Stanley & Co.
Global law firm Reed Smith has helped leading private equity house Nova Capital Management complete a complex US$214 million acquisition of a portfolio of hardware businesses from Newell Rubbermaid.
The deal saw Nova Capital acquire five standalone businesses - Amerock, Ashland Hardware Systems, Bulldog Hardware, Drapery Hardware and Shur-line - in a single transaction and required a law firm with the breadth and reach of expertise across multiple jurisdictions in Europe, North America and Asia.
Paul Hastings LLP, a leading global law firm, announced today that the firm represented Wells Fargo Securities, LLC as sole lead arranger and sole bookrunner, and Wells Fargo Bank, National Association, as the administrative agent, in connection with a $600,000,000 senior secured revolving credit facility for Sequitur Energy Resources, LLC.
Finance partner Paris Theofanidis led the Paul Hastings team, which also included associates R. Cramer Miller and Brian Carter, and property analyst Norman Carnahan.