Davis Polk advised Warner Chilcott plc on its $1 billion leveraged recapitalization. Under this recapitalization, subsidiaries of Warner Chilcott borrowed $600 million of term loans under an amendment to its secured credit facility. Proceeds of the financings together with cash on hand will be used to fund a special one-time cash dividend of $4.00 per share, or approximately $1 billion in the aggregate.
Tags: Davis Polk & Wardwell LLP | New YorkDavis Polk advised HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, RBS Securities Inc., BNP Paribas Securities Corp., RBC Capital Markets, LLC, SG Americas Securities, LLC and Standard Chartered Bank as joint bookrunners on an SEC-registered offering by Rio Tinto Finance (USA) plc of $3 billion aggregate principal amount of notes guaranteed by Rio Tinto plc and Rio Tinto Limited. The offering consisted of $1.25 billion principal amount of 1.625% notes due 2017, $1 billion principal amount of 2.875% notes due 2022 and $750 million principal amount of 4.125% notes due 2042.
Tags: Davis Polk & Wardwell LLPDavis Polk is advising Aetna Inc. on a $2 billion senior unsecured bridge loan facility in connection with its acquisition of Coventry Health Care, Inc. The bridge facility is being arranged by Goldman Sachs Bank USA, UBS Securities LLC and UBS Loan Finance LLC. The facility would be available to Aetna to pay a portion of the cash consideration used for its purchase of Coventry Health Care, Inc. in the event Aetna has not completed a planned senior notes offering prior to the closing of the acquisition.
Tags: Davis Polk & Wardwell LLP | New York
Itera, one of Russia’s leading independent producers of natural gas, has agreed a strategic venture with Russian oil giant Rosneft to jointly develop their gas fields in the gas-rich Yamalo-Nenets autonomous region in the Russian Arctic.
Tags: Morgan, Lewis & Bockius LLP | Moscow
Haynes and Boone, LLP announces the closing of the majority ownership acquisition of Service King Collision Repair Centers by the Carlyle Group, a global alternative asset manager company.
Tags: Haynes and Boone, LLP | Dallas
International law firm Freshfields Bruckhaus Deringer has advised Ferrovial, indirect owner of 49.99% of BAA, on an agreement to sell 10.62% of FGP Topco (the holding company which owns BAA) to Qatar Holding for £478 million.
Tags: Freshfields Bruckhaus Deringer LLP
Littler Mendelson, P.C. (Littler), the nation’s largest employment and labor law firm representing management, today announced that Guy M. Allen, a lawyer with more than 20 years of experience representing management in a variety of labor and employment matters, has joined the firm. Allen will be a shareholder in the firm’s Melville office.
Tags: Littler Mendelson P.C.
Hogan Lovells is advising Brookfield Infrastructure on its acquisition, together with Abertis Infrastructure, for consideration in excess of €1bn, of the controlling stake in Obrascon Huarte Lain Brasil, S.A. (OHL Brazil), one of Brazil’s major toll road operators.
Tags: Hogan Lovells
The Los Angeles office of O’Melveny & Meyers announced the recruitment of Mark Easton back to the firm’s Los Angeles office. Mr. Easton returns to the firm from Warner Bros. Entertainment where he was general counsel. Mr. Easton’s career focuses on mergers and acquisitions, with significant attention to media, sports and entertainment.
Tags: O'Melveny & Myers, LLP | Los Angeles
Jones Day announced that William Prescott Mills Schwind, an oil and gas industry lawyer focused on cross-border transactions, has joined the Houston Office as a partner in the Firm’s Energy Practice.
Tags: Jones Day | Houston