Milbank, Tweed, Hadley & McCloy advised four principal lenders in an $800 million syndicated financing for Ternium México S.A. de C.V., a leading steel, plastics, and aluminum processor that is the Mexican arm of Luxembourg-based steel concern Ternium SA (NYSE:TX).
Sheffield-based marine safety and equipment supplier International Mining and Marine (IM&M) has undergone a Management Buy-out (MBO) with the support of HSBC and law firm, Irwin Mitchell.
The company has been acquired by existing Director and General Manager Mark Westerman, who has increased his stake in the business from 25% to 87.5%. Company founder Alan Justice will retain a 12.5% stake.
Slaughter and May is advising Shire plc on the acquisition financing and competition aspects of its acquisition of ViroPharma Incorporated, a leading rare disease company, for approximately US$4.2 billion.
Shire, announced on 11 November 2013, that it had secured a US$2.6 billion, fully underwritten short term bank facility which in addition to its existing facilities will enable it to finance the acquisition, pay fees and expenses relating to the acquisition and repay Shire's existing US$1.1 billion convertible bond at its maturity in 2014, if required.
In one of the largest unsecured credit financings ever in the aircraft leasing industry, Milbank, Tweed, Hadley & McCloy represented a group of leading financial institutions in providing an $850 million revolving credit facility for leading aircraft lessor Aviation Capital Group.
New York transportation partner Drew Fine, chair of Milbank’s Finance practice, led the team advising lenders, including JP Morgan Chase as lead arranger, along with Citigroup Global Markets Inc., RBC Capital Markets, and BNP Paribas.
Kirkland & Ellis International LLP represented Hastings Insurance Group in an offering of £266.5 million 8 percent senior secured fixed-rate notes due 2020 and £150 million senior secured floating-rate notes due 2019 to finance the acquisition of a 50-percent stake in Hastings by Goldman Sachs Merchant Banking Division. Hastings is a fast-growing retail car and home insurance business operating in the United Kingdom that provides both insurance broking and underwriting services.
Allen & Overy LLP has advised E.ON SE in connection with a significantly oversubscribed syndicated 5 billion euros revolving credit facility.
The team included partner of Allen & Overy Dr Neil George Weiand and senior associate Dr. Urs Lewens (both Banking and Finance, Frankfurt).
E.ON SE-house Dr. Cora Hartan worked.
Shearman & Sterling advised Advent International and Oberthur Technologies in connection with the market leading refinancing of Oberthur's senior bank debt with a New York law covenant-lite Term Loan B credit facility, consisting of a €260 million term loan tranche, a US$280 million term loan tranche and a €88 million revolving credit facility; arranged by J.P. Morgan Securities LLC, Goldman Sachs International, Lloyds Securities Inc., Barclays Bank Plc, HSBC France and Société Générale S.A., with JPMorgan Chase Bank, N.A. as administrative agent.
Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman Sachs Bank USA as joint bookrunners and joint lead arrangers and Bank of America, N.A. as administrative agent, in connection with a $5.5 billion senior bridge term loan credit facility for McKesson Corporation. The financing is being provided on a “funds certain” basis in accordance with German takeover rules to support McKesson’s takeover offer for Celesio AG.
Davis Polk advised Morgan Stanley Senior Funding, Inc., as administrative agent and joint lead arranger, in connection with a $1 billion senior unsecured revolving credit facility provided to Twitter, Inc.
Ashurst has advised the investment fund Astorg Partners with regards to the sale of the funeral services company OGF to Pamplona Capital Partners.
The financing aspects of the operation were managed by Ashurst banking team with partner Laurent Mabilat and senior associate Stéphanie Vannier Corbière, and by Cravath Swaine & Moore LLP with George Stephanakis. On the corporate aspects, Astorg Partners was advised by Paul Hastings with Alexis Terray, Sébastien Crépy and Vincenzo Feldmann.