Daily News: November 30, 2012

Paul Hastings Represents RBC, GE Healthcare, Cowen


Paul Hastings announced it has represented Royal Bank of Canada, GE Healthcare and Cowen & Company in three separate transactions.

Paul Hastings represented Royal Bank of Canada, as administrative agent, and RBC Capital Markets, as joint lead arranger, in connection with a $150 million senior secured revolving credit facility for Cubist Pharmaceuticals, Inc.

Leveraged finance partner Rick Denhup led the Paul Hastings team, which also included associates Melissa Muscat, Seth Chandler, Shekhar Kumar and Julie Park.

Paul Hastings also is representing GE Healthcare in the sale of Thomas Medical Products, Inc. to Merit Medical Systems, Inc., a manufacturer and marketer of proprietary disposable devices used primarily in cardiology, radiology and endoscopy, for the purchase price of $167 million subject to customary post-closing adjustments. The transaction is expected to close prior to Dec. 31, 2012.

Thomas Medical designs and manufactures catheter-based vascular access delivery devices for diagnostic and therapeutic procedures in electrophysiology, cardiac rhythm management, interventional cardiology and interventional radiology applications, primarily on an OEM basis.

M&A partner Thaddeus Malik and of counsel Richard Radnay led the Paul Hastings team.

In addition, Paul Hastings represented Cowen and Company, CRT Capital and The Seaport Group as joint bookrunning managers in connection with the Rule 144A/Reg S offering of $200 million of 11.50% senior secured notes due 2017 by JW Aluminum Company, a manufacturer of specialty, flat-rolled aluminum products. Proceeds from the offering, together with amounts drawn at closing under JW Aluminum Company’s amended asset-based revolving credit facility, were used to refinance existing indebtedness.

Leveraged finance partner Richard Farley led the Paul Hastings team, which also included associates Joe Fastiggi, Paul Henesy, Melissa Muscat and Valerie Silverman.