Experience

• • 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 Capital 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 pre-arranged 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 United States 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 United States 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.
  • Syncora Holdings, as insurer of power revenue bonds issued by PREPA, Puerto Rico’s troubled electric utility, and the Commonwealth of Puerto Rico, in the ongoing highly publicized and complex restructuring negotiations relating to PREPA’s and the Commonwealth’s extensive funded debt and their PROMESA Title III proceedings.