Fiduciary Trust Company International’s Acquisition of The Pennsylvania Trust Company

Willkie Farr & Gallagher LLP served as legal counsel to Fiduciary Trust and Franklin Resources. Morgan, Lewis & Bockius LLP served as Pennsylvania Trust’s legal counsel on the transaction. Fiduciary Trust Company International, a global wealth manager and wholly-owned subsidiary of Franklin Resources, Inc. [NYSE: BEN], entered into an agreement to acquire The Pennsylvania Trust […]

Baker Bros. Advisors’ Investment in Leap Therapeutics

Akin Gump Strauss Hauer & Feld LLP advised Baker Bros. Advisors LP in the purchase by its affiliates of Series A mandatorily convertible preferred stock of Leap Therapeutics, Inc. Baker Bros. acted as the lead investor in the transaction. Upon approval by the Leap stockholders, the Series A mandatorily convertible preferred stock will automatically convert […]

Velocity Financial’s $94 Million Initial Public Offering

Simpson Thacher represented Velocity Financial, Inc. in connection with its initial public offering of common stock. Velocity Financial, Inc. completed its initial public offering of common stock, which raised approximately $94 million in gross proceeds. Shares of Velocity Financial are now listed on the New York Stock Exchange under the symbol “VEL.” Based in Westlake […]

Sonnedix’s $15 Million Puerto Rican Solar Energy Plants Financing

Holland & Knight represented City National Bank in the financing. City National Bank, Florida’s third largest bank, issued a $15 million loan to Sonnedix. The non-recourse loan will be used to finance Sonnedix’s solar photovoltaic (PV) plants in Puerto Rico. The transaction was announced on January 14. Sonnedix is a global independent solar power producer. […]

Incline Equity Partners’ $1.165 Billion Fundraising

Kirkland & Ellis counseled Incline Equity Partners on the closing of Incline Equity Partners V, L.P. Incline Equity Partners V, L.P. closed on $1.165 billion of capital commitments. The Fund was oversubscribed above its initial target of $850 million after just three months of marketing. Fund V’s strategy focuses on middle-market durable businesses with multiple […]

Air Lease Corporation’s $1.4 Billion Medium-Term Notes Offering

O’Melveny & Myers acted as special counsel to Air Lease Corporation. Simpson Thacher represented the underwriters in connection with the public offering. Air Lease Corporation completed the issuance of $750 million aggregate principal amount of 2.3% Medium-Term Notes, Series A, due February 1, 2025 and $650 million aggregate principal amount of 3% Medium-Term Notes, Series […]

Energy Transfer Operating’s $4.5 Billion Senior Notes Offering

Hunton Andrews Kurth LLP represented the underwriters in connection with the senior notes offering. Energy Transfer Operating announced a $4.5 billion senior notes offering comprised of $1.0 billion aggregate principal amount of 2.900% senior notes due 2025, $1.5 billion aggregate principal amount of 3.750% senior notes due 2030, and $2.0 billion aggregate principal amount of […]

McDermott International’s Chapter 11 Restructuring

Bracewell LLP represented Crédit Agricole as agent to the revolving DIP lenders in prepacked Chapter 11 restructuring transaction for McDermott International, Inc. The restructuring transaction will be financed by a debtor-in-possession (DIP) financing facility of $2.81 billion. Subject to court approval, McDermott expects the DIP financing, combined with cash generated by McDermott, to enable the […]