Tag Archives: Wachtell Lipton Rosen & Katz

Washington Prime Group Enters Chapter 11, Secures $100MM in DIP Financing

Washington Prime Group filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. Washington Prime Group also secured $100 million in new money debtor-in-possession financing.

Webster and Sterling to Combine, Merger Valued at $10.3B

The boards of directors of Webster Financial and Sterling Bancorp unanimously approved a definitive agreement under which the two companies will combine in an all-stock merger of equals transaction with a total market value of approximately $10.3 billion.

BancorpSouth Bank and Cadence to Combine in Merger Valued at More Than $6B

BancorpSouth Bank and Cadence Bancorporation, the parent company of Cadence Bank, entered into a merger agreement under which the companies will combine in an all-stock merger with a total market value of more than $6 billion.

Huntington Bancshares and TCF Financial to Merge

Huntington Bancshares, the parent company of Huntington National Bank, and TCF Financial, the parent company of TCF National Bank, signed an agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion.

PNC Agrees to Acquire BBVA USA for $11.6B

The PNC Financial Services Group and the Spanish financial group, Banco Bilbao Vizcaya Argentaria, signed a definitive agreement for PNC to acquire BBVA USA Bancshares, including its U.S. banking subsidiary, BBVA USA, for a purchase price of $11.6 billion.

PIMCO, Davidson Kempner, Sixth Street Provide $750MM in Exit Financing to Neiman Marcus

Neiman Marcus emerged from voluntary Chapter 11 protection. The company’s new owners, including PIMCO, Davidson Kempner Capital Management and Sixth Street, are funding a $750 million exit financing package.

PNC and Sixth Street Arrange $650MM in Financing for Designer Brands

PNC Bank served as administrative agent on a $400 million asset-based revolving credit facility and, according to an 8K, Sixth Street Specialty Lending served as administrative agent and lead arranger on a $250 million senior secured term loan for Designer Brands.