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Transactional

Finance

  • Paul, Weiss Represents Amherst Securities in Time Share Offerings

    FinanceERISA, Pension & Benefits LitigationTax

    Paul, Weiss represented Amherst Securities LP as initial purchaser in connection with the July 18 issuance by Westgate Resorts 2014-A LLC of notes (due October 2026, unrated) collateralized by timeshare loans.

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  • Paul, Weiss Represents Guggenheim Securities in Whole-Business Securitization and Tax Lien Securitization

    CorporateLitigationFinanceERISA, Pension & Benefits LitigationTax

    Paul, Weiss represented Guggenheim Securities as initial purchaser in connection with Hooters of America, LLC's first whole-business securitization (closed August 12, 2014). HOA Funding, LLC and various other Co-Issuers issued securitization notes (due August 2021 and rated BBB by Kroll Bond Rating Agency), which, among other things, enabled the company to refinance its existing debt.

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  • Autocam Corporation To Merge With NN

    Mergers & AcquisitionsEmployee BenefitsEnvironmentalFinanceIP TransactionsReal EstateTax

    Paul, Weiss client Autocam Corporation announced that it has entered into a definitive agreement to be acquired by NN, Inc., a Tennessee-based manufacturer and supplier of high precision metal bearing components and industrial plastic and rubber products, for $244.5 million in cash, $25 million in stock and the assumption of $30.5 million in debt.

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  • Vice Leases New Headquarters Space in Williamsburg, Brooklyn

    FinanceReal EstateMedia & Entertainment

    As reported in The Wall Street Journal, New York Magazine and other news sources, Paul, Weiss client Vice Media Inc. has entered into lease agreements for approximately 60,000 square feet of space for its new headquarters to be located on South 2nd Street in Williamsburg, Brooklyn. Vice plans to undertake a major renovation of the new space and to more than double its workforce with the addition of 525 employees over the next five years. One of the area's largest employers, Vice was founded as a punk magazine and currently runs a website (Vice.com), an HBO show and news, sports and music channels.

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  • Intelsat Amends $3.75 Billion
    Senior Secured Credit Facilities

    Finance

    Paul, Weiss client Intelsat (NYSE: I), a leading global provider of fixed satellite services, amended its existing senior secured credit agreement, which governs its approximately $3.1 billion senior secured term loan facility and $500 million revolving credit facility. The amendment reduced the interest rates applicable to borrowings under the term loan facility and extended the maturity of the term loan facility. In addition, the amendment also reduced the interest rates applicable to $450 million of the $500 million total revolving credit facility and extended the maturity of such portion of the revolving credit facility. Bank of America Merrill Lynch, J.P. Morgan and Credit Suisse served as joint lead arrangers and joint bookrunners.

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  • Oaktree Closes $1.8 Billion
    in Leveraged Loan Vehicles

    FinanceInvestment ManagementEmployee BenefitsTax

    Paul, Weiss client Oaktree Capital Management, L.P.'s (Oaktree) Oaktree Enhanced Income Fund (EIF), a private equity fund investing in leveraged loan assets, closed Oaktree Enhanced Income Funding Series III, Ltd., a $655.2 million collateralized loan-type obligation. This is EIF's third fund series, having already closed the $379.5 million Oaktree Enhanced Income Funding Series I, Ltd. on October 26, 2012 and the $761.6 million Oaktree Enhanced Income Funding Series II, Ltd. on March 28. Wells Fargo Securities, LLC, Mitsubishi UFJ Securities (USA), Inc., and GreensLedge Capital Markets LLC acted as placement agents.

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  • Paul, Weiss Adds Leading Financing Partner

    CorporateFinanceBrian  Kim

    Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Brian Kim has joined the firm as a partner in its corporate department, resident in New York, where he will focus on acquisition financing, distressed debt and other financing transactions, including representing private equity funds in leveraged buyouts and overleveraged companies in restructuring their balance sheets.

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  • Peermont Global Group Completes
    R4.1 Billion Refinancing

    Capital Markets & SecuritiesFinanceTax

    Paul, Weiss client Peermont Global Group, a casino and hotel group with operations in South Africa and Botswana, completed its restructuring and recapitalization through a R4.1 billion local six-year senior debt finance package underwritten by Rand Merchant Bank and jointly arranged with ABSA, Investec and Standard Bank, and the issuance of R1.2 billion of payment-in-kind notes to be listed on a European stock exchange. In addition, certain creditors replaced the R2.4 billion payment-in-kind notes issued in 2007 with preference shares at face value. Certain creditors also replaced existing loans of R3.8 billion with ordinary shares, amounting to 71% of the Group's equity. The senior secured notes issued in 2007 were paid off at maturity.

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  • Ply Gem Closes $930 Million Refinancing

    FinanceEnvironmentalReal EstateTax

    Paul, Weiss client Ply Gem Industries, Inc., a leading manufacturer of exterior building products in North America, closed a $430 million term loan facility and a private offering of $500 million 6.50% Senior Notes due 2022. The net proceeds of the offering and the term loan, as well as cash on hand, were used to refinance in full Ply Gem's outstanding Senior Secured Notes and old Senior Notes. With this refinancing the company has lowered its interest cost and extended maturities on all of its funded debt.

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  • Las Vegas Sands Closes VML Refinancing

    FinanceReal Estate

    Venetian Macau Limited, a subsidiary of Paul, Weiss client Las Vegas Sands Corp., closed an amended and restated credit agreement for the dollar equivalent of approximately $5.2 billion, consisting of the dollar equivalent of $2 billion of new revolving commitments, the dollar equivalent of approximately $2.4 billion of extended initial term loans and the dollar equivalent of approximately $0.8 billion non-extended initial term loans.

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