The Firm recently represented JPMorgan Chase Bank, N.A., as administrative agent, and Citibank, N.A., as syndication agent, in a new $2.8 billion revolving credit facility for Sprint Nextel Corporation. The new five year credit facility replaces the company’s existing $2.2 billion facility that was to expire in October 2013. The new facility provides supplemental liquidity for general corporate purposes and will be used to support the letter of credit required by the Federal Communications Commission’s Report and Order to reconfigure the 800 MHz band.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher Represents Nielsen in $1.288 Billion Secondary Offering of Common Stock
The Firm recently represented Nielsen Holdings N.V. (“Nielsen”), a portfolio company of AlpInvest Partners, The Blackstone Group, The Carlyle Group, Centerview Partners, Hellman & Friedman, Kohlberg Kravis Roberts & Co. and Thomas H. Lee Partners (together, the “Sponsors”) in connection with a secondary offering of 40,814,884 shares of Nielsen’s common stock. The offering closed at a public offering price of $32.55 per share, resulting in gross proceeds to the Sponsors of approximately $1.288 billion.
Tags: Simpson Thacher & Bartlett LLP | New YorkPaul Hastings Advises Debt Financing Sources in Berkshire’s Acquisition of SRS Distribution
Paul Hastings LLP, a leading global law firm, announced today that the firm represented UBS AG, Stamford Branch, as administrative agent in connection with both a $220 million term loan and a $100 million asset-based revolving credit facility, and UBS Securities LLC and Barclays Bank PLC as arrangers in connection with such credit facilities, the proceeds of which at closing were used to partially finance the acquisition of SRS Holding Corporation, the parent company of roofing supply distributor SRS Distribution Inc., by Berkshire Partners LLC.
Tags: Paul Hastings, LLP | New YorkAkin Gump Represents Eastman Kodak Second Lien Noteholders in $830 Million DIP Financing
Akin Gump Strauss Hauer & Feld LLP represented second lien noteholders of Eastman Kodak in the negotiation of an amended and restated commitment letter for $830 million in supplemental junior DIP financing. The firm also advised the noteholders on the offering to subscribe to fund their pro rata share of the new money loans under the DIP financing and exchange a pro rata amount of their pre-petition second lien notes for junior loans under the DIP financing facility.
Tags: Akin Gump Strauss Hauer & Feld LLP | New YorkDLA Piper Advises ESPN on Sale of UK and Ireland TV Channels to BT Group
DLA Piper has represented ESPN on the acquisition of its UK and Ireland TV business, including its live sports rights portfolio, by BT Group. Under the terms of the deal, BT will acquire the ESPN and ESPN America channels in the UK and Ireland and broadcast rights to the FA Cup, Clydesdale Bank Scottish Premier League, UEFA Europa League and the German Bundesliga.
Tags: DLA Piper | New YorkSimpson Thacher Represents KKR in Sale of Stake in Music Company BMG
The Firm is representing Kohlberg Kravis Roberts & Co. L.P. (KKR) in connection with the sale of its stake in music rights management company BMG to Bertelsmann, the international media group. KKR and Bertelsmann have jointly developed BMG into a leading global music company. Following closing, which is subject to satisfaction of regulatory and other customary conditions, Bertelsmann will have full ownership of the company.
Tags: Simpson Thacher & Bartlett LLP | New YorkManatt Adds Three Litigation Partners in New York
Manatt, Phelps & Phillips, LLP, announced that Michael R. Gordon, Eli R. Mattioli and Andrew L. Morrison have joined the firm’s New York office as partners in the Litigation Division. They join from K&L Gates, where all three were litigation partners.
Tags: Manatt, Phelps & Phillips, LLP | New YorkMilbank Represents Joint Lead Arrangers in $640 M Institutional Refinancing for Topaz Power Holdings, LLC
International law firm Milbank, Tweed, Hadley & McCloy LLP represented Goldman Sachs Bank USA and Barclays Bank PLC as Joint Lead Arrangers, in the $640,000,000 refinancing of the Topaz Power Holdings, LLC (Topaz) power portfolio. The senior secured facilities included a $600,000,000 senior secured term loan facility, maturing in 2020, and a $30,000,000 senior secured revolving credit facility, terminating in 2017, the proceeds of which were used to refinance $527,000,000 of existing term construction loan and a $45,000,000 revolving credit facility of Topaz. Milbank also represented Goldman Sachs Bank USA as administrative agent for the senior secured facilities.
Tags: Milbank LLP | New YorkPaul Hastings Advises Barrington Broadcasting Group LLC in $370 Million Sale of TV Stations to Sinclair Broadcast Group, Inc.
Paul Hastings, a leading global law firm, announced today that the firm represented Barrington Broadcasting Group LLC, an operator of television stations in markets across the United States, in the sale of 18 television stations to Sinclair Broadcast Group, Inc. for $370 million.
Tags: Paul Hastings, LLP | New YorkProskauer – American Realty Capital Properties Acquires American Realty Capital Trust III
American Realty Capital Properties, Inc., and American Realty Capital Trust III, Inc., completed the closing of their merger in which global law firm Proskauer served as corporate counsel to both companies. The closing was announced February 28, 2013, after receiving approval by both companies’ stockholders on February 26.
Tags: Proskauer Rose LLP | New York