Topic
Debt Financing
80 published works
M & A Law Prof Blog
Huntsman/Hexion Debt Commitment Letter
At last. Download 100708_Exhibit_1.pdf
M & A Law Prof Blog
BCE Debt Commitment Letter
Download abridged_debt_commitment_letter_2.pdf
Securities Law Prof Blog
Sallie Mae Settles Suit for New Financing
Sallie Mae settled its lawsuit against the former buyers who backed out of the $25 billion buyout and claimed that new legislation cutting federal subsidies to student lenders was a…
M & A Law Prof Blog
Cerberus’s Sad Goodbye
Affiliated Computer Services has admirably filed today on a Form 8-K the letter it received from Cerberus. ACS had no other comment. Obviously, there is a back story here which…
M & A Law Prof Blog
PHH Corp’s Vague Condition
The Wall Street Journal yesterday ran an article on PHH Corp. which has an agreement to be acquired by General Electric Capital Co. and Blackstone Group LP for $1.7 billion. …
Securities Law Prof Blog
KKR Debt for First Data Acquisition Goes on Sale This Week
In order to finance the debt necessary for its $26.4 billion acquisition of First Data, KKR agreed to a covenant that place performance criteria on the debt. The sale of…
Securities Law Prof Blog
First Data LBO Debt Goes on the Market
This week, in what is expected to be a test of the credit markets, seven banks will be offering for sale $24 billion in loans and bonds to finance the…
Securities Law Prof Blog
Market’s Too Risky for Arbs
The Wall St. Journal's "Heard on the Street" column reports that even the merger arbitragers are losing their appetite for risk and selling some of their holdings, in many cases…
M & A Law Prof Blog
SLM Corporation: Playing Hardball
SLM Corporation's press release on Tuesday and its Wednesday 10-Q filing focused primarily on rebutting the buyer consortium's claim that a Material Adverse Effect would occur if Congress passes pending…
Securities Law Prof Blog
Allison LBO Postponed
In another sign of difficult conditions in the debt-financing market, the LBO of Allison Transmission (a GM unit) to two private equity firms was postponed because of problems in selling…