Experience

• • Booz Allen Hamilton in its inaugural investment grade notes offering, consisting of $650 million aggregate principal amount of 5.950% Senior Notes due 2033.
  • agilon health and Clayton, Dubilier & Rice in the $2 billion secondary offering and repurchase of shares of agilon health common stock.
  • Principal Financial Group in the offering of $400 million aggregate principal amount of 5.375% Senior Notes due 2033 and $300 million aggregate principal amount of 5.500% Senior Notes due 2053.
  • Warner Bros. Discovery in the offering of $1.5 billion aggregate principal amount of 6.412% Senior Notes due 2026 by WarnerMedia Holdings.
  • Clayton, Dubilier & Rice in the financing aspects of its $5.8 billion acquisition of Cornerstone Buildings Brands, the largest manufacturer of exterior buildings products in North America.
  • Blackstone as lead investor in DNAnexus’ $200 million financing round.
  • Discovery, Inc. in the offering of $30 billion of senior unsecured notes in the acquisition of WarnerMedia.
  • Carlyle in the financing aspects of its investment in Resonetics, a leader in micro-manufacturing for the medical device and diagnostics equipment industries, valuing the company at approximately $2.25 billion.
  • Carlyle in the financing aspects of its strategic growth investment and acquisition of a majority stake in Saama, a leading AI-driven intelligent clinical cloud company that enables the life sciences industry to conduct faster and safer clinical developments and regulatory programs, valuing the company at up to $430 million.
  • Jackson and Prudential plc in the separation of Jackson through a demerger, in a transaction valued at approximately $2.5 billion and that establishes Jackson as an independent, publicly-traded company.
  • agilon health and Clayton, Dubilier & Rice in the $587 million secondary offering of agilon health common stock.
  • The underwriters in the offering and sale of $750 million fixed-to-fixed rate subordinated debentures due 2051 by Global Atlantic.
  • The initial purchasers in the offering and sale of $650 million 3.125% senior notes due 2031 by Global Atlantic Financial Group.
  • Discovery, Inc. in the financing aspects of the acquisition of WarnerMedia from AT&T in a Reverse Morris Trust transaction that values the combined entity at approximately $130 billion.
  • Domtar in its $3 billion sale to Paper Excellence.
  • agilon health in its $1.2 billion initial public offering.
  • CPP Investments as lead investor in a $400 million Series C financing for insitro, a machine learning-driven drug discovery and development company.
  • Global Atlantic (Fin) Company, a wholly-owned subsidiary of Global Atlantic Financial Limited, in the issuance of $500,000,000 aggregate principal amount of its 4.400% Senior Notes due 2029.
  • White Cap Parent in the offer and sale of $300 million of 8.25%/9.00% Senior PIK toggle notes due 2026 to fund a dividend payment to the company's equity holders.
  • Carlyle as a lead investor in the $1 billion launch of Vantage Group, a new re/insurance entity and its wholly owned subsidiary, Vantage Risk, a new property catastrophe reinsurance provider.
  • Elliott Management in the restructuring of Windstream Holdings, a leading communications and software company.
  • Carlyle in the financing aspects of its $175 million investment in Grand Rounds, a leader in healthcare quality and clinical navigation.
  • Clayton, Dubilier & Rice in the financing aspects of its $2.9 billion acquisition of White Cap, a leading distributor of specialty concrete and construction products, and its combination of White Cap with CSG, a leading U.S. distributor of specialty concrete and masonry accessories, for a total transaction value of approximately $4 billion. The financing for the transaction includes a $2.38 billion cash flow-based facility, a $700 million asset-based revolving facility and $640 million in senior unsecured notes.
  • Prudential plc and Jackson National in the reinsurance to Athene of $27.6 billion of Jackson’s in-force fixed and fixed index annuities and a $500 million equity investment in Jackson’s holding company.
  • Spirit Airlines, in its concurrent SEC registered $201 million offering of common stock and $175 million offering of 4.75% convertible senior notes due 2025.
  • Carlyle in the financing aspects of its $1.8 billion acquisition, with T&D Holdings, of a majority interest in Fortitude Re.
  • Principal Financial Group in its $500 million offering of 3.700% senior notes due 2029 to finance the $1.2 billion acquisition of Wells Fargo & Company’s Institutional Retirement & Trust business.
  • Elliott Management in the recapitalization of Affinion Group Holdings and related equity and stockholder arrangements.
  • Elliott Management in a $450 million equity rights offering of Roadrunner Transportation Systems, resulting in Elliott acquiring 90% of Roadrunner.
  • Gogo in its $215 million offering (including $13 million sold in a separate, concurrent private placement) of 6.00% convertible senior notes due 2022.
  • Carlyle in its strategic partnership with AIG to position DSA Re as a platform to provide solutions for insurance liabilities globally.
  • Principal Financial Group in the offer and sale of $400 million P-Caps of High Street Funding Trust I Redeemable 2028.
  • Discovery, Inc. in its $14.6 billion acquisition of Scripps Networks Interactive.
  • Verizon Communications in its $3.1 billion acquisition of Straight Path Communications, a leading wireless spectrum holder.
  • TPG and Welsh, Carson, Anderson & Stowe in the $4.1 billion acquisition of Kindred Healthcare.
  • Atkore International, a Clayton, Dubilier & Rice portfolio company, in its $259 million secondary offering of common stock.
  • Gogo in its $525 million offering of 12.5% senior secured notes due 2022.
  • TruGreen, a Clayton, Dubilier & Rice portfolio company, and CD&R in TruGreen’s merger with Scotts LawnService.
  • Kelso & Company, the private equity sponsor of Logan’s Roadhouse, in Logan’s prearranged Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. Debevoise also represented Kelso and Logan’s in a privately negotiated exchange offer to holders of Logan’s senior secured notes resulting in the issuance of over $220 million in new senior secured notes.
  • Carlyle, together with its portfolio company Getty Images, in multiple capital-raising initiatives to complement and improve Getty Images’ existing debt structure and in exploring related balance sheet alternatives with respect to its approximately $3 billion in funded debt, followed by representing Carlyle in its successful exit from the investment in the form of an equity sale.
  • Standard General in securities law matters related to various investments, including its acquisition of RadioShack’s asset-based credit facility and its investment in clothing manufacturer and distributor American Apparel.
  • Providence Equity Partners and SRA in the merger of SRA with the government services unit of CSC, creating the largest pure-play IT services provider serving the U.S. government sector.
  • Altegrity, a global, diversified risk and information services company, together with its operating businesses Kroll, HireRight and USIS, in their pre-negotiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, in which they successfully restructured more than $1.8 billion in funded indebtedness and consensually resolved significant contested claims that had been asserted by the U.S. government. This restructuring was honored by Turnarounds & Workouts as one of ten Successful Restructurings – 2015.
  • Oaktree Capital Management in the Chapter 11 proceedings of Energy Future Holdings and its subsidiaries. With over $49 billion in debt, EFH is the largest leveraged buyout ever to file for bankruptcy. Oaktree was one of the largest creditors in the case, holding over $2.9 billion of first lien debt.
  • Syncora Holdings, as insurer of power revenue bonds issued by PREPA, Puerto Rico’s troubled electric utility, including in connection with PREPA’s forbearance agreement, with more than 60% of the holders of its $8.3 billion of outstanding bonds.