Simpson Thacher Represents Underwriters in Offering of Convertible Preferred Stock by iStar Financial Inc.

Simpson Thacher represented the underwriters Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC in the recent public offering of 4,000,000 shares of 4.50% Series J Cumulative Convertible Perpetual Preferred Stock issued by iStar Financial Inc. The offering included 500,000 shares issued following the exercise by the underwriters of their over-allotment option.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Dilworth Paxson Opens New York City Office and Welcomes Litigator Greg Blue

Dilworth Paxson LLP announced the opening of its New York City office, adding a seventh location to its regional presence. The firm also welcomes Gregory Blue who will serve as resident partner in charge of the office. Blue’s practice is primarily devoted to business litigation and representation of creditors, shareholders, and official committees in complex bankruptcy cases.

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Tags:  Dilworth Paxson LLP | New York

Simpson Thacher Represents Blackstone and Invitation Homes in $2.075 Billion Revolving Credit Facility in Connection with the Largest National Single-Family Rental Home Platform

The Firm represents affiliates of Blackstone Real Estate Partners and Invitation Homes, L.P. in connection with a $2.075 billion revolving credit facility to capitalize the purchase of distressed single-family rental homes. Invitation Homes is a national platform to purchase distressed single family homes and then refurbish, lease and maintain them in neighborhoods across the country and is the largest owner of single-family homes in the United States.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Shearman & Sterling Advises on $1 Billion Financing for Avon

Shearman & Sterling advised Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas, BBVA Compass, Goldman Sachs Bank USA, HSBC Bank USA, National Association, and Sovereign Bank, N.A. as joint lead arrangers and joint bookrunners in connection with a $1 billion four-year revolving credit facility for Avon Products, Inc. and Avon Capital Corporation.

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Cahill Represents Underwriters in $1.25 Billion Public Offering for ILFC

Cahill represented Barclays, J.P. Morgan, Morgan Stanley, and RBC Capital Markets as joint book-running managers and the co-managers in connection with the public offering of $1,250,000,000 comprised of $750,000,000 aggregate principal amount of 3.875% Senior Notes due 2018 and $500,000,000 aggregate principal amount of 4.625% Senior Notes due 2021 by International Lease Finance Corporation.

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Tags:  Cahill Gordon & Reindel LLP | New York

Dechert Advises Sovereign Wealth Fund in Purchase of Hotel Assets from CNL/MSR Resorts

A multi-disciplinary team of Dechert attorneys recently finalized a long-standing matter allowing a sovereign wealth fund to purchase numerous hotel assets out of the high profile bankruptcy of CNL/MSR Resorts. The firm has represented this client since 2006 when it made its initial loan to CNL/MSR, which was indirectly secured by five high-end luxury resorts (including the iconic Arizona Biltmore and the Grand Wailea in Hawaii). CNL/MSR Resorts filed for Chapter 11 on February 1, 2011 and the firm worked with this client to make an offer to buy the assets owned by the Debtors within a week after the filing. That initial offer was rebuffed and so began a two-year process to gain control of the resorts.

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Tags:  Dechert LLP | New York