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Paul, Weiss advised Alorica Inc., a global leader in customer experience solutions, in a $750 million refinancing led by funds managed by affiliates of Apollo Global Management, Inc.
Paul, Weiss is advising funds managed by affiliates of Apollo Global Management, Inc. in their acquisition, alongside Hudson Executive Capital LP, of Cardtronics plc, the world’s largest ATM owner and operator, for $2.3 billion,…
- Dec 03, 2020
- Publications
Recently, the administrator of LIBOR announced that it will solicit feedback from market participants early this month on its intention to cease the publication of two USD LIBOR settings after December 31, 2021 and the remaining USD…
Paul, Weiss advised Chevron Corporation in its all-stock acquisition of Noble Energy Inc., a Houston-based, leading independent energy company, at a total enterprise value of $13 billion.
Paul, Weiss advised Teladoc Health, the global leader in virtual care, in its acquisition of Livongo, the leading Applied Health Signals company.
Paul, Weiss is advising Brookfield Asset Management, Inc and Simon Property Group in their agreement, announced October 28, to purchase certain assets of J. C. Penney Company, Inc. out of bankruptcy.
- Oct 27, 2020
- Publications
The International Swaps and Derivatives Association, Inc. (ISDA) recently launched the IBOR Fallbacks Supplement to the 2006 ISDA Definitions and the ISDA 2020 IBOR Fallbacks Protocol to address the expected cessation of various…
Paul, Weiss, in partnership with our client Apollo Global Management, hosted two recent virtual pro bono clinics that involved nearly 50 Paul, Weiss lawyers and eight Apollo attorneys.
- Oct 12, 2020
- Publications
On October 1, the Antitrust Division of the U.S. Department of Justice issued a business review letter finding that a proposal of the International Swaps and Derivatives Association (ISDA) relating to amendments to ISDA’s model…
Paul, Weiss advised an ad hoc committee of secured noteholders of Neiman Marcus Group in its successful chapter 11 reorganization.
Paul, Weiss advised certain funds sponsored by CIM Group, LLC and multiple third-party co-investors in the acquisition of five multifamily towers in Alexandria, Virginia for an aggregate purchase price of $506 million.
- Aug 10, 2020
- Publications
On October 16, 2020, central clearing houses (“CCPs”) are set to transition their discounting methodology and rates used to pay interest on cash margin for USD cleared swaps from Fed Funds to SOFR.
Paul, Weiss is advising Teladoc Health, the global leader in virtual care, in its acquisition of Livongo, the leading Applied Health Signals company, in a cash-and-stock deal valued at $18.5 billion.
Paul, Weiss is advising Chevron Corporation in its all-stock acquisition of Noble Energy Inc., a Houston-based, leading independent energy company, at a total enterprise value of $13 billion.
- Jul 07, 2020
- Publications
The anticipated cessation of the London Interbank Offered Rate (“LIBOR”) remains the end of calendar year 2021. Notwithstanding challenges presented by the COVID-19 pandemic, regulators, industry leaders and working groups remain…
- Jul 02, 2020
- Publications
Corporate partner Manuel Frey and associate Anastasia Peterson co-authored the “United States” chapter of the International Comparative Legal Guide (ICLG) to: Derivatives 2020, published by the Global Legal Group Ltd., London.
Paul, Weiss advised General Atlantic in its investment in Royalty Pharma PLC, a leading funder of innovation across the biopharmaceutical industry, and Royalty Pharma’s subsequent initial public offering.
Paul, Weiss is advising SeaWorld Parks & Entertainment, Inc. in its offering of $227.5 million in aggregate principal amount of its 8.750% first-lien senior secured notes due 2025.
- Apr 20, 2020
- Publications
On April 15, ISDA announced preliminary results of its second market consultation regarding the implementation of pre-cessation fallbacks for derivatives contracts referencing LIBOR. ISDA found that “a significant majority of…
- Apr 09, 2020
- Publications
On April 8, 2020, the Alternative Reference Rate Committee (“ARRC”), a working group convened to help prepare for the cessation of the U.S. dollar London Interbank Offered Rate (USD LIBOR), announced that it had agreed on a…
- Mar 29, 2020
- Publications
Notwithstanding COVID-19-related market volatility and associated challenges faced by market participants, UK regulators have affirmed that the timetable for LIBOR’s anticipated cessation at the end of calendar year 2021 currently…
- Feb 13, 2020
- Publications
Real estate partners Mitchell Berg and Peter Fisch’s latest transactional real estate column, “LIBOR’s Replacement In the Real Estate Loan Market,” appeared in the February 13 issue of the New York Law Journal.
Paul, Weiss advised national homebuilder and developer Taylor Morrison Home Corporation in its cash-and-stock acquisition of William Lyon Homes for approximately $2.5 billion, including assumption of debt.
Paul, Weiss advised Elanco Animal Health Incorporated, a premier global animal health company, in the concurrent offerings of 22,694,732 shares of common stock and 11,000,000 5.00% tangible equity units.
- Jan 22, 2020
- Publications
It is widely expected that within two years, by the end of 2021, the London Interbank Offered Rate (“LIBOR”) will no longer be published by LIBOR panel banks. Recognizing the potential impact LIBOR’s cessation could have on lenders,…
Paul, Weiss represented CIM Group, L.P. in its acquisition and financing of Skyline Towers, two 26-story high-rise apartment buildings located at 5599 Seminary Road in the Bailey's Crossroads area of Fairfax County, Virginia.
Paul, Weiss is advising The Medicines Company in its all-cash $9.7 billion acquisition by Swiss pharmaceutical giant Novartis AG.
- Nov 21, 2019
- Publications
On November 5, 2019, Vietnam-based cryptocurrency exchange VinDAX was hacked, losing half a million U.S. dollars’ worth of funds spread across 23 different cryptocurrencies.[1]
Paul, Weiss represented Loews Hotels in connection with a $103.6 million mortgage loan with SunTrust Bank secured by Universal's Aventura Hotel in Orlando.
Paul, Weiss is representing leading national homebuilder and developer Taylor Morrison Home Corporation in its cash-and-stock acquisition of William Lyon Homes for $2.4 billion, including assumption of debt.
Paul, Weiss is representing Endemol Shine Group and funds managed by affiliates of Apollo Global Management, Inc. in the acquisition of Endemol Shine, which is co-owned by The Walt Disney Company and the Apollo funds, by France-based…
Paul, Weiss is representing GE Capital and its GE Capital Aviation Services unit in their sale of PK AirFinance to Apollo Global Management, LLC and Athene Holding Ltd.
- Jul 18, 2019
- Publications
On July 12, the SEC’s staff issued a statement (the “LIBOR Statement”) urging market participants to prepare for the transition away from the London Interbank Offered Rate (“LIBOR”) reference rate.
Paul, Weiss advised International Business Machines Corp. in its all-cash acquisition of Red Hat Inc., creating the world’s largest hybrid cloud provider.
Paul, Weiss client The Medicines Company, a biopharmaceutical company focused on developing treatments for atherosclerotic cardiovascular disease, closed a public offering of 5,227,273 shares of its common stock at a public offering…
Paul, Weiss is representing Chassis Brakes International Group, a portfolio company of KPS Capital Partners, LP, in its sale to Hitachi Automotive Systems, Ltd., a wholly owned subsidiary of Hitachi, Ltd.
- May 29, 2019
- Publications
On May 22, 2019, the Internal Revenue Service (the “IRS”) and the Department of the Treasury (“Treasury”) released final regulations (the “Final Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as amended…
SSR Mining Inc. closed its offering of $230 million aggregate principal amount of 2.50% convertible senior notes due 2039.
- Mar 15, 2019
- Publications
Article 9 of Regulation (EU) No. 648/2012 of the European Parliament and of the Council of 4 July 2012 on over-the-counter derivatives (“OTC Derivatives”), central counterparties and trade repositories (as amended, “EMIR”) requires…
Paul, Weiss is representing Oak Hill Capital Partners in its commitment to lead recapitalization efforts, alongside Pamlico Capital, of Vast Broadband to support the company’s accelerated growth plans.
Paul, Weiss is advising Oak Hill Capital Partners in its recapitalization, alongside Canada Pension Plan Investment Board, in packaging products company Berlin Packaging L.L.C, a portfolio company of Oak Hill.
- Nov 27, 2018
- Publications
U.S. regulations imposing stay requirements on the terms of swaps, repurchase agreements and other qualified financial contracts of globally systemically important banks (GSIBs) take effect on January 1, 2019 in support of a policy…
Paul, Weiss is representing global consumer products company Spectrum Brands Holdings in the sale of its Global Auto Care business to Energizer Holdings.
- Nov 01, 2018
- Publications
On October 31, 2018, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) released proposed regulations (the “Proposed Regulations”) under Section 956 of the U.S. Internal Revenue Code of 1986, as…
Paul, Weiss is advising International Business Machines Corp. in its all-cash acquisition of Red Hat Inc., creating the world’s largest hybrid cloud provider.
Paul, Weiss represented Honeywell in its spin-off of Garrett Motion Inc., Honeywell’s former transportation systems business.
- Sep 15, 2018
- Publications
Ten years after the collapse of Lehman Brothers, market participants and other global companies operate in a markedly changed regulatory enforcement and compliance landscape. This memorandum discusses the legal and business…
Paul, Weiss represented timeshare operator ILG Inc. in its $4.7 billion cash-and-stock sale to Marriott Vacations Worldwide Corporation (NYSE: VAC), creating a leading global provider of premier vacation experiences.
Paul, Weiss advised Canadian online gaming company The Stars Group in its $6.8 billion financing in connection with Stars’ acquisition of U.K.-based Sky Betting & Gaming.
Perry Ellis International has agreed to be acquired by George Feldenkreis, Perry Ellis’ founder and a member of the company’s board of directors, in a transaction valued at $437 million.
Paul, Weiss is representing timeshare operator ILG in its $4.7 billion cash-and-stock sale to Marriott Vacations Worldwide, creating a leading global provider of premier vacation experiences.
Paul, Weiss is representing KPS Capital Partners, LP in its sale of Electrical Components International, Inc. (ECI) to Cerberus Capital Management, L.P.
Paul, Weiss is representing leading government IT provider CSRA in its $9.6 billion acquisition by defense contractor General Dynamics.
Paul, Weiss represented Hunt Companies, Inc. and its affiliates in a series of asset and equity transactions with MMA Capital Management, LLC (NASDAQ: MMAC).
Paul, Weiss represented Mitel Networks Corporation in its $531 million all-cash acquisition of Sunnyvale, California-based communications solutions company ShoreTel, Inc.
Paul, Weiss is representing Roark Capital Group in its proposed acquisition of International Car Wash Group (ICWG) from TDR Capital LLP.
Paul, Weiss represented KPS Capital Partners, LP in its acquisition, through a newly formed affiliate, of C&D Technologies, Inc. and its affiliates.
- Aug 08, 2017
- Publications
Recently, the International Swaps and Derivatives Association published the ISDA 2017 OTC Equity Derivatives T+2 Settlement Cycle Protocol, the newest installment of ISDA’s mechanism aimed at facilitating the multilateral and…
Paul, Weiss is representing New York-based middle market private equity firm Gamut Capital Management, L.P. in its acquisition of JPW Industries, Inc. and its global affiliates from Tenex Capital Management.
Paul, Weiss represented an affiliate of KPS Capital Partners, LP in its acquisition of WHA Holding SAS (Winoa) from a consortium of investors
Paul, Weiss is representing certain noteholders of Mood Media Corporation, including funds managed by affiliates of Apollo Global Management, LLC and funds advised or sub-advised by GSO Capital Partners LP or its affiliates, in…
Paul, Weiss represented global auto parts supplier Dana Inc. in its private offering by its subsidiary Dana Financing Luxembourg S.à r.l. of $400 million in aggregate principal amount of 5.750% Senior Notes due 2025.
Paul, Weiss is representing Cornell Capital LLC, a private investment firm, in its agreement to acquire WKI Holdings Company, Inc. (World Kitchen), a leading multinational manufacturer and marketer of housewares.
- Feb 24, 2017
- Publications
The CFTC and various prudential regulators recently promulgated rules imposing minimum margin requirements on swap dealers, major swap participants and certain other regulated institutions with respect to their uncleared swaps and…
Paul, Weiss is representing ARIAD Pharmaceuticals, Inc. in its
proposed $5.2 billion acquisition by Takeda Pharmaceutical Company
Limited.
The International Swaps and Derivatives Association's (ISDA)
credit derivatives rule-making body unanimously agreed with a
position argued by Paul, Weiss that a Failure to Pay Credit Event
had occurred with respect to…
Paul, Weiss advised Great Lakes Caring Home Health and Hospice
in an agreement with Blue Wolf Capital Partners.
The Estée Lauder Companies Inc. announced that it will acquire
Paul, Weiss client Too Faced Cosmetics, LLC, a feminine makeup
brand and General Atlantic portfolio company for approximately
$1.45 billion.
Paul, Weiss is representing wireless technology leader Qualcomm Incorporated in its agreement to acquire NXP Semiconductors for $47 billion.
Paul, Weiss client Berlin Packaging, a portfolio company of Oak
Hill Capital Partners, announced that it has agreed to acquire
Italy-based Bruni Glass, a provider of glass packages designed for
spirits, wine, food and gourmet…
- Sep 15, 2016
- Publications
The International Swaps and Derivatives Association, Inc.
recently published the 2016 Variation Margin Protocol to assist
market participants in adapting to a new margin regime for
uncleared derivatives that will come into effect …
E*TRADE Financial Corporation announced that it has agreed to
acquire Paul, Weiss client Aperture New Holdings, Inc., the parent
company of OptionsHouse, for $725 million in cash.
Toys "R" Us, Inc. entered into a support agreement with
noteholders of approximately 50 percent of the company's $850
million in debt scheduled to mature in 2017 and 2018.
Paul, Weiss client Dana Holding Corporation, a worldwide
supplier of auto parts, closed a private offering by its wholly
owned subsidiary, Dana Financing Luxembourg S.à r.l., of $375
million in aggregate principal amount of…
As widely reported in The New York
Times, The Wall Street Journal and other
media outlets, Paul, Weiss client Mitel Networks Corporation
announced that it had entered into a definitive merger agreement to
acquire…
- Jul 10, 2015
- Publications
Pursuant to Section 716 (the "Push-out Rule")
of the Dodd-Frank Wall Street Reform and Consumer Protection Act of
2010 (as amended by the Consolidated and Further Continuing
Appropriations Act, 2015) and the rules and regulations …
- Jul 02, 2015
- Publications
The District Court for the Central District of California
recently held that an assignee that acquired rights to a terminated
swap agreement was not a "swap participant" under the Bankruptcy
Code and, therefore, could not invoke…
Paul, Weiss client Encana Corporation closed the cash tender
offer made by its indirect, wholly owned subsidiary, Alenco
Acquisition Company, Inc., to acquire all of the issued and
outstanding shares of common stock of…
Hess Energy Trading Company LLC (HETCO), a leading global
marketer and trader of energy commodities, announced that funds
managed by Paul, Weiss client Oaktree Capital Management L.P. will
acquire an interest in the firm held by…
Paul, Weiss client, Citibank, N.A. agreed to sell its retail
banking business in the Dallas, Houston, Midland and Odessa, Texas
markets to Branch Banking and Trust Company (BB&T), including
the sale of 41 of the company's…
- Aug 27, 2014
- Publications
On August 21, 2014, the International Swaps and Derivatives Association ("ISDA") published the 2014 ISDA Credit Derivatives Definitions Protocol (the "Protocol"), the newest installment of ISDA's well-tested mechanism aimed at…
Paul, Weiss client Kohlberg & Company, L.L.C., through a
newly formed affiliate, announced the closing of its acquisition of
a majority of the equity interests in Troon Golf, L.L.C., a leading
global provider of third-party…
Paul, Weiss client KPS Capital Partners, LP, through a newly
formed affiliate, announced their acquisition of Electrical
Components International, Inc., the world's leading manufacturer of
wire harnesses and value-added assembly…
Paul, Weiss client KPS Capital Partners announced that, through
a newly formed affiliate, it has entered into definitive agreements
to acquire Electrical Components International, Inc. and its
affiliates. Completion of the…
- Mar 24, 2014
- Publications
The Dodd-Frank Wall Street Reform and Consumer Protection Act
(the "Dodd-Frank Act") allows swap counterparties to require that
any upfront collateral, or initial margin, collected by a swap
dealer or major swap participant with…
- Jan 30, 2014
- Publications
- Jan 29, 2014
- Publications
Since the effectiveness of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the "Dodd-Frank Act"), the Commodity Futures Trading Commission (the "CFTC") has finalized many of the rules that implement the…
- Dec 20, 2013
- Publications
- Sep 06, 2013
- Publications
- May 31, 2013
- Publications
As reported by The New York Times "DealBook" and
multiple other media sources, Paul, Weiss client Elliott Management
reached a successful resolution of its proxy contest with Hess
Corporation. Hess agreed to give Elliott, which…
Paul, Weiss client Time Warner Cable (TWC) has agreed to be the
charter distributor for SportsNet LA, the new regional television
network for the Los Angeles Dodgers beginning with the 2014 Major
League Baseball season. SportsNet …
- Dec 26, 2012
- Publications
The CFTC has adopted a phase-in approach to clearing, with
compliance dates staggered by counterparty type.
- Aug 31, 2012
- Publications
Considerations, timelines and action steps to help prepare for
the new regulatory regime set to begin on October 12.
- Aug 13, 2012
- Publications
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