Simpson Thacher & Bartlett Archives

TPC Group Commences Chapter 11 to Deleverage and Recapitalize

TPC Group, a provider of products to chemical and petroleum-based companies, voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware.

TD Bank Acquires First Horizon for $13.4B

TD Bank Group signed a definitive agreement to acquire First Horizon in an all-cash transaction valued at $13.4 billion, or $25 for each common share of First Horizon.

AllianceBernstein, Deutsche, Guggenheim and Webster Provide Financing to FirstDigital

FirstDigital Telecom, a fiber-based carrier in the western United States, raised debt financing from a group of investors, including AllianceBernstein, Deutsche Bank, Guggenheim and Webster Bank.

BofA-Led Syndicate Refinances and Increases Hilton Grand Vacations’ Revolver to $1B

Hilton Grand Vacations refinanced and increased the capacity under its existing revolving facility from $800 million to $1 billion. Bank of America will remain the administrative agent for the new revolving credit facility.

U.S. Bancorp Enters Agreement to Acquire MUFG Union Bank

U.S. Bancorp entered into a definitive agreement to acquire MUFG Union Bank’s core regional banking franchise from Mitsubishi UFJ Financial Group. Under the terms of the agreement, U.S. Bancorp will purchase MUFG Union Bank for approximately $8 billion.

CitiGroup & Goldman Sachs Provide Financing to Support Avantor’s Acquisition of Masterflex

Avantor entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets of Antylia Scientific, a privately held, portfolio company of investment firms GTCR and Golden Gate Capital.

J.P. Morgan Provides Financing to Support Hyatt Hotels’ Acquisition of Apple Leisure Group

Hyatt Hotels entered into a definitive agreement to acquire Apple Leisure Group from affiliates of KKR and KSL Capital Partners for $2.7 billion in cash. Hyatt secured a financing commitment from J.P. Morgan to help support the acquisition.

Ares Acquires Black Creek Group

A subsidiary of Ares Management entered into a definitive agreement to acquire 100% of Black Creek Group’s U.S. real estate investment advisory and distribution business.

BofA Securities Provides Debt Financing to Support Platinum Equity’s Buy of Club Car

Platinum Equity entered into a definitive agreement to acquire Club Car from Ingersoll Rand in a transaction valued at approximately $1.7 billion. BofA Securities will lead the debt financing for Platinum Equity and Club Car in connection with the transaction.

M&T Bank Acquires People’s United Financial in All-Stock Transaction

M&T Bank and People’s United Financial entered into a definitive agreement under which M&T will acquire People’s United in an all-stock transaction. The implied total transaction value based on closing prices on Feb. 19, 2021, is approximately $7.6 billion.

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