Debt Tender Offers and Consent Solicitations

Experience

    • Ambac Assurance Corp., a Wisconsin domiciled insurance company, in a holistic restructuring transaction that involved three exchange offers of existing debt securities and other payment obligations for approximately $2.2 billion of newly-issued debt securities, as well as a new-money financing collateralized by the future proceeds of certain litigation claims against RMBS originators.
    • Goldman, Sachs & Co. in the tender offer by MetLife for up to 59,850,000 shares of its 6.500% of Non-Cumulative Preferred Stock, Series B.
    • NLMK in a tender offer in respect of its $800 million 4.45% loan participation notes due 2018 and $500 million 4.95% loan participation notes due 2019 (issued by Steel Funding Limited) in the aggregate principal amount of $121.7 million.
    • US Foods in a consent solicitation relating to its outstanding high yield notes and the $8.2 billion merger of US Foods with Sysco Corporation.
    • International Paper in its tender offer for up to $1 billion combined aggregate principal amount of its outstanding 9.375% notes due 2019 and 7.950% notes due 2018.
    • MBIA in a consent solicitation with respect to its senior notes.
    • Pacific Life in a tender offer for its 9.25% Surplus Notes due 2039 and its parent company, Pacific LifeCorp, in a related offering of $500 million 5.125% senior notes due 2043.
    • Reynolds Group in its tender offer and consent solicitation for 9.875% senior subordinated notes due 2014, 8.35% senior notes due 2017 and 8.25% senior notes due 2018.
    • Roofing Supply Group in the tender offer of its outstanding $202.5 million 8 5/8% senior secured notes due 2017.
    • J.P. Morgan and Deutsche Bank as underwriters in Cigna Corporation’s offering of $250 million of its 4.375% senior notes due 2020 and $300 million of its 6.35% senior notes due 2018.
    • Polyus Gold International in a consent solicitation in respect of KazakhGold Limited's $200 million 9.375% senior notes due 2013.
    • Reynolds Group in its $1.5 billion offering of 7.125% senior secured notes due 2019 and $1.5 billion offering of 9.000% senior notes due 2019.
    • Domtar in a tender offer for its outstanding senior notes.
    • MBIA in its tender offer for preferred stock.