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Finance

Our finance lawyers are well known for structuring a wide variety of global acquisition financings, including tender offer, merger, leveraged recapitalization and stock and asset purchase financings for both public and private companies. Our finance related advice also involves work on senior and subordinated bridge financings and we are a leading firm in leveraged syndicated finance.

We have a strong record of structuring financings on behalf of healthcare companies, for example, our team assisted Boston Scientific in securing a $14 billion senior financing in respect of its acquisition of Guidant and advised Quest Diagnostics as borrower in connection with its acquisition of AmeriPath, Inc. in which the deal was arranged by JP Morgan and Bank of America.

We have broad high-yield debt experience that is key to our finance capability, allowing us to provide one-stop bank/bond financings. Representative experience includes representing Bank of America in leading both the bank and bond financings of Encore Medical by affiliates of The Blackstone Group and representing JPMorgan Chase, Bank of America, and GECC Capital Markets Group in a bank/bond transaction to finance the acquisition of LifeCare Holdings, Inc.

We have built extensive relationships with major financial institutions, including Morgan Stanley in connection with a $4 billion credit facility for Abbott Laboratories. The group also advised Citigroup and J.P. Morgan as joint lead arrangers of a $6 billion credit facility Johnson & Johnson. The team has also acted for Goldman Sachs as joint lead arranger and bookruner in Goldman Sachs Credit Partners L.P. as joint lead arranger and bookrunner of a €11 billion financing for Schering-Plough Corporation acquisition of Organon BioSciences N.V.

In addition, we have significant experience in middle market financings including, representing CIT Healthcare in a series of acquisition financings.

Representative Finance Experience

• Banc of America Securities LLC as lead arranger and Bank of America, N.A. as administrative agent of a $750 million amended and restated financing for Caremark Rx, Inc.
• Boston Scientific Corporation in connection with a $14 billion of senior and interim financing in respect of its acquisition of Guidant Corporation.
• CIT Capital Securities LLC as sole lead arranger and sole bookrunner of a $125 million secured financing for TLC Vision (USA) Corporation. The financing was provided to fund a share repurchase by the parent of the borrower.
• CIT Capital Securities LLC as lead arranger and sole bookrunner of a $200 million secured Shari'ah financing provided to a private equity firm in connection with the acquisition of a dental management company.
• CIT Healthcare LLC as lead arranger of a $65 million financing for a leveraged recapitalization of a private equity sponsor for an investment in a renal care management company.
• CIT Healthcare LLC, a unit of CIT Group Inc. as sole lead arranger and bookrunner of a $55 million financing for U.S. Renal Care, Inc. in connection with its acquisition of a majority of interest in the assets of nine existing dialysis centers from Tarrant Dialysis Centers, L.P.
• Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. as joint lead arrangers and joint book managers of a $6.4 billion 364 day credit facility and a $1.6 billion five year credit facility for Johnson & Johnson.
• Citigroup Global Markets Inc. as co-advisor, co-lead arranger and joint bookrunner of a $1.2 billion competitive advance and revolving credit facility for Eli Lilly and Company.
• Citigroup Global Markets Inc. as joint lead arranger and joint bookrunner of a $1 billion credit facility for Genentech, Inc.
• Citigroup Global Markets Inc. as joint lead arranger and joint book manager of a $1.75 billion five year revolving credit facility for Medtronic, Inc.
• Citigroup Global Markets Inc. as joint lead arranger and joint bookrunner of a $1 billion amended and restated five year credit facility for Becton, Dickinson and Company.
• Goldman Sachs Credit Partners L.P. as administrative agent and lead arranger of $35 million bridge financing for Southern Ohio Medical Center.
• Goldman Sachs Credit Partners L.P. as joint lead arranger and bookrunner of a €11 billion financing for Schering-Plough Corporation acquisition of Organon BioSciences N.V.
• Morgan Stanley Senior Funding, Inc. and Goldman Sachs Credit Partners, L.P., as joint lead arrangers, and Morgan Stanley Senior Funding, Inc., as administrative agent, in connection with $1.763 billion in senior credit facilities. The senior credit facilities consisted of U.S. dollar and Euro term loan facilities and U.S. dollar revolving credit facilities in favor of PTS Acquisition Corp. (which was merged with and into Cardinal Health 409, Inc.), an indirect wholly-owned subsidiary of Phoenix Charter LLC. The financings were in connection with Blackstone’s acquisition of the pharmaceutical and technology services division of Cardinal Healthcare.
• Morgan Stanley Senior Funding, Inc. as joint lead bookrunner and joint lead arranger of a $1.425 billion bridge loan for Hospira, Inc.
• Morgan Stanley Senior Funding, Inc. as sole bookrunner and lead arranger of a $4 billion credit facility for Abbott Laboratories.
• Quest Diagnostics Incorporated as borrower in connection with its acquisition of AmeriPath, Inc. The deal was arranged by J.P. Morgan Securities Inc. and Banc of America Securities LLC and as borrower under a $450 million facility agented by Bank of America, N.A.
• RBC as administrative agent and RBC Capital Markets as sole lead arranger and bookrunner a $367 first lien facility and a $140 million second lien facility. The financings were provided to a privately held pharmaceutical company in connection with Apax Partners’ acquisition of Qualitest and Vintage Pharmaceuticals.
• RBC Capital Markets as sole lead arranger and bookrunner and General Electric Capital Corporation as co-arranger of a senior secured credit facility for TZ Merger Sub, Inc. This financing is in connection with Apax's acquisition and taking private of The TriZetto Group, Inc.