Davis Polk advised underwriters represented by Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated in connection with the offering of $4.1 billion aggregate principal amount of notes issued by McKesson Corporation. The notes were offered in five tranches maturing in 2015, 2017, 2019, 2024 and 2044.
Davis Polk advised J.P. Morgan Securities plc, BNP Paribas, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, Credit Suisse Securities (Europe) Limited, Goldman, Sachs & Co., Merrill Lynch International and The Royal Bank of Scotland plc as joint bookrunners in connection with an SEC-registered offering of €300 million of 2.375% senior notes due 2022 by Discovery Communications, LLC. The senior notes are guaranteed by the issuer’s indirect parent company, Discovery Communications, Inc.
Cravath represented Burlington Northern Santa Fe, LLC in connection with its US$1.5 billion registered debt offering.
Burlington Northern Santa Fe, LLC is a holding company engaged primarily in freight railroad transportation through its ownership of its principal operating subsidiary, BNSF Railway Company, which operates one of the largest railroad networks in North America. The transaction closed on March 7, 2014.
The Cravath team included partner Andrew J. Pitts and associate Michael W. Young.
Cravath represented European Investment Bank in connection with its US$5 billion registered debt offering. The European Investment Bank is a long-term financing institution of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on March 5, 2014.
The Cravath team included partner Philip J. Boeckman and associates Gemma Mootoo Rajah and Giacomo Reali.
Shearman & Sterling advised Bank of America, N.A. and Goldman Sachs Bank USA, as joint lead arrangers and joint bookrunners in connection with a $1.567 billion refinancing for J. Crew Group Inc., the retailer owned by TPG Capital and Leonard Green & Partners LP.
The Hong Kong and London offices of Debevoise & Plimpton LLP have advised Hong Kong-based life insurer AIA Group Limited (AIA) on the expansion of its $3 billion Global Medium Term Note Programme and its first ever Rule 144A placement in the United States.
Davis Polk advised Aetna Inc. on its SEC-registered notes offering of $750 million aggregate principal amount in two series: $375 million aggregate principal amount of 2.20% senior notes due 2019 and $375 million aggregate principal amount of 4.75% senior notes due 2044. The proceeds of the offering will be used, together with available resources, to redeem all of Aetna’s outstanding 6.00% senior notes due 2016. Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBS Securities Inc. and U.S. Bancorp Investments, Inc.
Davis Polk advised J.P. Morgan Securities LLC as the sole book-running manager on the SEC-registered offering by Xilinx, Inc. of $500 million of its 2.125% senior notes due 2019 and $500 million of its 3.000% senior notes due 2021.
Headquartered in San Jose, California, Xilinx designs, develops and markets programmable devices and associated technologies, including advanced integrated circuits in the form of programmable logic devices, software design tools and predefined system functions delivered as intellectual property.
Davis Polk advised Delphi Corporation in connection with an SEC-registered offering of $700 million aggregate principal amount of its 4.15% senior notes due 2024. The notes are guaranteed by certain of Delphi Corporation’s parent companies, including its ultimate parent, Delphi Automotive PLC. J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc. and Goldman, Sachs & Co. acted as joint book-running managers for the offering.