Annie C. Wallis

Sidley represented Orion Resource Partners LP (“Orion”) in connection with the formation of the Orion Critical Mineral Consortium (“Orion CMC”), a mission-driven investment platform designed to support the United States, its allied and partner nations in developing secure, responsible, and resilient critical mineral supply chains underpinning future economic growth and national security. Orion CMC was established with an initial capital commitment of US$1.8 billion through a partnership between Orion, the U.S. International Development Finance Corporation (“DFC”), and a global sovereign investor focused on critical infrastructure and global supply chains. The consortium will bring together leading metals and mining investors and operators to invest in and develop critical minerals assets, prioritize near-term producing projects, and build diversified supply chains that address demand from advanced manufacturing, data centers, artificial intelligence, and other strategic sectors. This is a first-of-its-kind debt and equity platform transaction with the U.S. government. The Sidley team was led by Jennifer A. Spiegel, Joshua W. Thompson and Noam M. Waltuch, and included Ellen Murphy (Investment Funds); Ashtyn M. Hemendinger and Bill Turnbull III (Global Finance); and Christian D. Barraza (Tax). Read DFC’s press release here.

Feb 27

1 min

Pointing to an explosion of consumer class actions and a surge of contingency and premium-priced matters, Shook, Hardy & Bacon said it grew revenue 28.4% to nearly $643.4 million, while average profits per partner soared 57.4% to about $2.32 million. Revenue per lawyer also grew 24.1%, to $1.16 million, even amid a bump in firm headcount. Meanwhile, the firm’s net income grew a substantial 59.2%, to $309.2 million, while average comp for all partners surged 47.7%, to $1.4 million. The gains were also made as the firm slightly grew its equity and nonequity partnership tiers. The firm didn’t say how many hours it billed. But in an interview this week, firm chair Madeleine McDonough said it was a year of “tremendous client demand,” saying there were more hours billed in 2025 than 2024, as billing rates also grew between 7% and 9%. More than a third of the firm’s revenue (38%) came from alternative fee arrangements, and some of that includes matters where there are success or premium bonuses built in for achieving certain milestones. McDonough said they have found that clients appreciate when firms “also have skin in the game with them, and we like to do that wherever we can.” She also said they like to joke that “if there are 100 clients we’re negotiating with, we might have 100 different [billing] arrangements.” But the traditional contingency matters are in a separate bucket, she said. “We always have a pretty robust pipeline of potential contingency fee recoveries, but because they are inherently contingent, we never budget for them, so when they happen, they are quite a positive, and we have quite a few in the works right now,” McDonough said on Monday. She added, “That’s become, I would say, a more interesting and profitable piece of our overall portfolio. We really do like betting on ourselves, and so far it’s been a pretty profitable approach.” The firm’s leader noted that there’s been an “explosion” of consumer class actions in California in particular, and that’s affected the firm’s top and bottom lines, noting that Shook represents 23 of the top 25 automotive manufacturers. Meanwhile, tech clients, like Microsoft, and chemical and pharmaceutical companies are significant parts of the firm’s rolodex, she said. Shook has been able to more aggressively expand its client list over the last decade or two, while continuing to serve legacy clients that have been with the firm for generations, she said. “We have far less concentration issues than we did 10 years ago, or 20 years ago,” she said. Products liability, large-scale multidistrict litigation, antitrust and complex commercial litigation work in particular led to much of the firm’s gains in 2025. McDonough also called the firm’s complex litigation strategic counseling practice, which helps clients coordinate on mass torts, “transformative.” “They look at early planning for large-scale litigation, from really a strategic and discovery and technology perspective; use all sorts of AI and other approaches to managing large-scale litigation, and it’s really across industries,” she said. “So I would say that approach has been a really important piece of our portfolio.” She noted that the group’s hiring of John Rosenthal and Jamie Brown, plus the addition of Simone Jones as a partner to its class action and appellate litigation practice from Sidley Austin, are early key hires this year. McDonough also pointed to the notable additions last year of Holly Polgase, from Clyde & Co., and former U.S. Magistrate Judge Kimberly Priest Johnson in Boston in complex litigation and strategic counseling, respectively; Matt Ball in class actions in San Francisco, from K&L Gates; and trial attorney Kurt Weaver in Chicago, from Womble Bond Dickinson. She said the firm has multiple strategies on the lateral market, including looking for overlapping clients, industry depth and partners they’ve worked with in virtual law firm environments or otherwise. Also: “Sometimes we really just need more horsepower, because some of the litigations are so large,” she said. At a time when many firms are creating and increasing nonequity partners, while seeing declines in the equity ranks, Shook slightly grew both tiers last year, with equity increasing 1.1% to about 133.4 full-time equivalents, and nonequity partners increasing about 1.4%, to about 130. McDonough said the firm wants to grow in those areas, but they’re always looking at the qualities of those partners, and the overall numbers “never guided our decision-making on that.” McDonough said while there is nothing imminent, she is “always open to exploring” combinations, whether it’s acquiring smaller firms, merging with similar-sized firms or even getting interest from larger firms. She said that, especially in a competitive and increasingly expensive environment, they have to remain open-minded. “You have to look at growing in almost every way, whether it’s individuals, small practice groups, large practice groups, or even combinations,” McDonough said. The 2025 financial figures reported in this story are preliminary. Law.com will report finalized data for the Am Law 200 on The American Lawyer in April and May.

Mar 3

4 min

Sidley represented Fifth Star, Inc. (Fifth Star) as DIP lender and Plan sponsor in the reorganization of PARTS iD, Inc. (the Company, f/k/a ID Auto, Inc.), a Cranbury, NJ-based digital commerce company that sells automotive parts and accessories through its proprietary platforms. Fifth Star supported the Company with pre-Chapter 11 and Chapter 11 debt financing and acquired the Company by sponsoring the Company’s joint prepackaged Chapter 11 plan of reorganization (the Plan). The Plan involved a unique “straddle” concept where voting on the Plan commenced prior to the bankruptcy filing and finished after the bankruptcy filing. This unique structure allowed the Company to achieve confirmation of the Plan within 47 days of the bankruptcy filing. The Company went public in 2020 through a de-SPAC transaction. On December 26, 2023, the Company filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The Company reported US$18.7 million in assets and US$55 million in liabilities. The Plan received overwhelming support from the Company’s trade vendors, funded debt holders and other key stakeholders, and was approved on February 28, 2024 by Judge Laurie Selber Silverstein. The Plan provides for the equitization of existing debt and the purchase by Fifth Star of US$26 million of preferred equity issued by the reorganized debtor. The proceeds of the preferred equity issuance will be used to fund plan distributions and future operations of the Company. The reorganization strategy, backed by substantial support from suppliers and investors, positions the Company for growth and long-term success. Sidley partners Matthew A. Clemente (Restructuring), Alexis A. Cooper (Private Equity), and Annie C. Wallis (Global Finance) led Sidley’s cross-functional team working on the deal on the key partner side. The team also included partners Suresh T. Advani (Tax), Lauren A. Gallagher (Employee Benefits and Executive Compensation), and Elizabeth Y. Austin (Securities and Shareholder Litigation); counsel Allison Ross Stromberg (Restructuring) and Julia M. Chester (Technology and Life Sciences Transactions); senior managing associates Elizabeth T. Burns and Alexandra M. Peterson (Employee Benefits and Executive Compensation); managing associates Juliana Hoffman, Ian C. Ferrell, and Ryan Fink (Restructuring), Dustin B. Page (M&A), and Christian Wyse (Global Finance); and associates Hayden Ross Golemon (Restructuring), Becca Dyson (Global Finance), Matt Nelson (Private Equity), Madeline Clasen (Employee Benefits and Executive Compensation), and Catie Demaret (Commercial Litigation and Disputes).~~Sidley represented Fifth Star, Inc. (Fifth Star) as DIP lender and Plan sponsor in the reorganization of PARTS iD, Inc. (the Company, f/k/a ID Auto, Inc.), a Cranbury, NJ-based digital commerce company that sells automotive parts and accessories through its proprietary platforms. Fifth Star supported the Company with pre-Chapter 11 and Chapter 11 debt financing and acquired the Company by sponsoring the Company’s joint prepackaged Chapter 11 plan of reorganization (the Plan). The Plan involved a unique “straddle” concept where voting on the Plan commenced prior to the bankruptcy filing and finished after the bankruptcy filing. This unique structure allowed the Company to achieve confirmation of the Plan within 47 days of the bankruptcy filing. The Company went public in 2020 through a de-SPAC transaction. On December 26, 2023, the Company filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. The Company reported US$18.7 million in assets and US$55 million in liabilities. The Plan received overwhelming support from the Company’s trade vendors, funded debt holders and other key stakeholders, and was approved on February 28, 2024 by Judge Laurie Selber Silverstein. The Plan provides for the equitization of existing debt and the purchase by Fifth Star of US$26 million of preferred equity issued by the reorganized debtor. The proceeds of the preferred equity issuance will be used to fund plan distributions and future operations of the Company. The reorganization strategy, backed by substantial support from suppliers and investors, positions the Company for growth and long-term success. Sidley partners Matthew A. Clemente (Restructuring), Alexis A. Cooper (Private Equity), and Annie C. Wallis (Global Finance) led Sidley’s cross-functional team working on the deal on the key partner side. The team also included partners Suresh T. Advani (Tax), Lauren A. Gallagher (Employee Benefits and Executive Compensation), and Elizabeth Y. Austin (Securities and Shareholder Litigation); counsel Allison Ross Stromberg (Restructuring) and Julia M. Chester (Technology and Life Sciences Transactions); senior managing associates Elizabeth T. Burns and Alexandra M. Peterson (Employee Benefits and Executive Compensation); managing associates Juliana Hoffman, Ian C. Ferrell, and Ryan Fink (Restructuring), Dustin B. Page (M&A), and Christian Wyse (Global Finance); and associates Hayden Ross Golemon (Restructuring), Becca Dyson (Global Finance), Matt Nelson (Private Equity), Madeline Clasen (Employee Benefits and Executive Compensation), and Catie Demaret (Commercial Litigation and Disputes).

Mar 8

3 min

Sidley advised R-Bridge Healthcare Fund (RBF), a fund managed by healthcare-dedicated asset management firm, CBC Group, on a US$120 million “hybrid” financing granted by Natixis Corporate & Investment Banking through its Hong Kong branch. This transaction is market-leading as it is a bespoke hybrid fund financing which is emerging in the Asian market. As opposed to traditional capital call facilities, hybrid financing combines elements of both capital call financing “looking up” to the undrawn investor capital commitments, and net asset value (NAV) financing “looking down” to the value of the underlying assets of the fund for recourse. This provides a more flexible solution, as the fund can not only utilise the facility when there are undrawn and recallable investor capital commitments, but also borrow against the NAV of the investments made. Due to the complexity of the hybrid nature of the transaction, we had to navigate issues relating to the methodology and determination of the borrowing base at an early stage and negotiate a highly customised covenant package, which required a good understanding of the legal framework for the fund as well as its underlying assets. As the underlying assets of the fund were located in different jurisdictions, the security documents were subject to different governing laws, and we worked seamlessly with our London, Singapore, and U.S. offices to ensure a smooth and swift closing. Headquartered in Singapore, CBC Group is focused on platform building, buyout, private credit, venture, and real estate across the healthcare space, including pharmaceutical, biotech, medical technology, and healthcare services. RBF provides leading biotech, biopharma, medical technology, and healthcare services companies with bespoke, non-dilutive financing, backed by Asia-sourced healthcare royalty/revenue interests, or through a range of alternative financing structures. The Sidley team is led by partner Olivia Ngan (Hong Kong). Other core members also included Lei Li, managing partner of Sidley’s offices in Beijing and Shanghai, and other partners Annie Wallis (Chicago), Daniel Lindsey (Singapore), and William Gwyn (London). They were supported by China advisor Dora Pan (Beijing), senior managing associate Horine Ye (Hong Kong), managing associate Shen Mei Bolton (New York), associate Kelly Lam (Hong Kong), legal assistant Caulyn Bong (Singapore), and trainee solicitor Kelly Kan (Hong Kong). Sidley’s banking and finance team in Hong Kong is part of the multidisciplinary China Corporate and Finance group. The team has been ranked as a Leading Firm in Banking and Finance by Legal 500 Asia Pacific 2023. The team is also ranked Nos. 1 and 2 in Borrower’s Legal Counsel by Debtwire’s Asia (ex-Japan) Loans Legal Advisors League Table in 2021 and 2022, respectively. It has advised on a number of award-winning financings which were recognized by as China Business Law Journal (CBLJ), IFLR Asia-Pacific Awards and The Asset. Sidley’s China Life Sciences practice is an integrated part of the firm’s Global Life Sciences practice, which has more than 200 dedicated lawyers globally. It is the only Band One firm ranked by Chambers Asia Pacific/Greater China Region for 14 consecutive years. It advises clients across the full spectrum of the business lifecycle, ranging from formation, corporate governance, and compliance operations for startups to collaboration, licensing, commercialization, and filing in the business development phase, including initial public offering, refinancing, and bonds/notes issuance, as well as domestic and cross-border mergers and acquisitions, asset restructuring, dispute resolution and international arbitration, equity incentive plans, and privatizations.~~Sidley advised R-Bridge Healthcare Fund (RBF), a fund managed by healthcare-dedicated asset management firm, CBC Group, on a US$120 million “hybrid” financing granted by Natixis Corporate & Investment Banking through its Hong Kong branch. This transaction is market-leading as it is a bespoke hybrid fund financing which is emerging in the Asian market. As opposed to traditional capital call facilities, hybrid financing combines elements of both capital call financing “looking up” to the undrawn investor capital commitments, and net asset value (NAV) financing “looking down” to the value of the underlying assets of the fund for recourse. This provides a more flexible solution, as the fund can not only utilise the facility when there are undrawn and recallable investor capital commitments, but also borrow against the NAV of the investments made. Due to the complexity of the hybrid nature of the transaction, we had to navigate issues relating to the methodology and determination of the borrowing base at an early stage and negotiate a highly customised covenant package, which required a good understanding of the legal framework for the fund as well as its underlying assets. As the underlying assets of the fund were located in different jurisdictions, the security documents were subject to different governing laws, and we worked seamlessly with our London, Singapore, and U.S. offices to ensure a smooth and swift closing. Headquartered in Singapore, CBC Group is focused on platform building, buyout, private credit, venture, and real estate across the healthcare space, including pharmaceutical, biotech, medical technology, and healthcare services. RBF provides leading biotech, biopharma, medical technology, and healthcare services companies with bespoke, non-dilutive financing, backed by Asia-sourced healthcare royalty/revenue interests, or through a range of alternative financing structures. The Sidley team is led by partner Olivia Ngan (Hong Kong). Other core members also included Lei Li, managing partner of Sidley’s offices in Beijing and Shanghai, and other partners Annie Wallis (Chicago), Daniel Lindsey (Singapore), and William Gwyn (London). They were supported by China advisor Dora Pan (Beijing), senior managing associate Horine Ye (Hong Kong), managing associate Shen Mei Bolton (New York), associate Kelly Lam (Hong Kong), legal assistant Caulyn Bong (Singapore), and trainee solicitor Kelly Kan (Hong Kong). Sidley’s banking and finance team in Hong Kong is part of the multidisciplinary China Corporate and Finance group. The team has been ranked as a Leading Firm in Banking and Finance by Legal 500 Asia Pacific 2023. The team is also ranked Nos. 1 and 2 in Borrower’s Legal Counsel by Debtwire’s Asia (ex-Japan) Loans Legal Advisors League Table in 2021 and 2022, respectively. It has advised on a number of award-winning financings which were recognized by as China Business Law Journal (CBLJ), IFLR Asia-Pacific Awards and The Asset. Sidley’s China Life Sciences practice is an integrated part of the firm’s Global Life Sciences practice, which has more than 200 dedicated lawyers globally. It is the only Band One firm ranked by Chambers Asia Pacific/Greater China Region for 14 consecutive years. It advises clients across the full spectrum of the business lifecycle, ranging from formation, corporate governance, and compliance operations for startups to collaboration, licensing, commercialization, and filing in the business development phase, including initial public offering, refinancing, and bonds/notes issuance, as well as domestic and cross-border mergers and acquisitions, asset restructuring, dispute resolution and international arbitration, equity incentive plans, and privatizations.

Mar 9

5 min

Nearly 50 partners across six Big Law firms helped steer the $110 billion deal confirmed on Friday between Paramount Skydance Corporation and Warner Bros. Discovery, according to lists of firm lawyers on the deal. Warner Bros., which accepted the offer from Paramount, initially indicated it would accept an offer from Netflix for the business that came in between $72 billion and $83 billion, but a campaign (and substantial financial investment) by the Ellison family eventually won out. Larry Ellison, the father of Skydance/Paramount head David Ellison, personally backed $40.4 billion of the offer. Bank of America and Citigroup are providing around $54 billion in debt financing, while several Middle East sovereign wealth funds (reportedly Saudi Arabia, Qatar and Abu Dhabi) also kicked in cash to reach the $110 billion mark. Cravath, Swaine and Moore was the lead counsel for Paramount, while Debevoise & Plimpton and Wachtell, Lipton, Rosen & Katz acted as co-counsel for Warner Bros. Latham & Watkins worked with the investment consortium on finance, and Cleary, Gottlieb, Steen & Hamilton advised the special committee to the board of directors for Paramount. Covington & Burling was regulatory counsel for Warner Bros. Several Big Law leaders and M&A rainmakers jumped in to see it through. That included Faiza Saeed, presiding partner at Cravath, working for Paramount, and Andrew Nussbaum, co-chair of Wachtell Lipton, working for Warner Bros. Top M&A partners and dealmakers at Latham, Debevoise and Covington also worked the deal. The Cravath team was comprised of partners Saeed, Daniel Cerqueira, Claudia Ricciardi, Alexander Greenberg and Minh Van Ngo on M&A matters; partners Andrew Pitts and C. Daniel Haaren on capital markets matters; partner George Zobitz on banking matters; partner Lauren Angelilli on tax matters; partner Jonathan Katz on executive compensation and benefits matters; partners Andrew Finch and Noah Joshua Phillips on antitrust matters; partners Kevin Orsini and Justin Clarke on litigation matters; and partner John W. White on corporate governance matters. Debevoise & Plimpton and Wachtell, Lipton, Rosen & Katz were co-counsel for Warner Bros. The Debevoise team was led by M&A partners Jonathan Levitsky, Erik Andrén, Gordon Moodie and Katherine Durnan Taylor, employee benefits and executive compensation partner Simone Hicks, IP and technology transactions partner Henry Lebowitz, capital markets partners Benjamin Pedersen and Matthew Kaplan, finance partners Ryan Rafferty and Ramya Tiller and tax partners Peter Schuur and Erin Cleary and includes M&A partners John Love and William Regner The Wachtell team was led by corporate partner and firm co-chair Andrew Nussbaum and corporate partners Karessa Cain, Hannah Clark and Jacob Pearlman. Deborah Paul handled tax, while firm co-chair William Savitt and partner Ryan McLeod handled litigation matters. Finance partner Gregory Pessin rounded out the partners working the deal. Latham worked with Paramount and an investor consortium on equity finance. The team was led by New York partner Ian Nussbaum, Chicago partner Max Schleusener, and Los Angeles partners Rick Offsay and Liliana Ranger. Cleary was led by partners Paul Shim and Kelsey Nussenfeld. The Covington team, as regulatory counsel for Warner Brothers, included Derek Ludwin (DC); Johan Ysewyn (Brussels); Ross Demain (DC); Melissa Van Schoorisse (Brussels); James Marshall (London); Nathan Wilkins (Brussels); Romain Girard (Brussels); Silvia Wu (DC); and Jaina Patel (DC). In all, there were at least six announced deals valued at more than $1 billion in the last week. Two of those were over the $5 billion range. There was at least one new SPAC merger and one new IPO tracked by Radar. There were at least nine debt offerings over $500 million tracked last week. Deals on the Radar The information regarding the deals below was derived exclusively from Law.com Radar. Engie SA has acquired UK Power Networks Holdings Ltd. (UKPN), an electricity distribution operator in the UK, from CK Infrastructure Holdings Ltd. for an equity value of approximately 10.5 billion pounds ($14.2 billion). The transaction, announced Feb. 25, is expected to close in mid-2026. France-based Engie was advised by a Herbert Smith Freehills team led by partners Caroline Rae, Silke Goldberg and Frédéric Bouvet. Counsel information for UKPN was not immediately available. The Brink’s Co., the security and armored truck company, has agreed to acquire ATM network NCR Atleos Corp. in a cash and stock transaction valued at approximately $6.6 billion. The transaction, announced Feb. 26, is expected to close in the first quarter of 2027. Richmond, Virginia-based Brink’s was advised by Sidley Austin New York-based partners Adam Cromie, David Grubman and George Hunter. NCR Atleos, which is based in Atlanta, was counseled by King & Spalding partners Robert J. Leclerc, Rahul Patel, Michelle Stewart and Keith M. Townsend. Latham & Watkins represented J.P. Morgan, acting as the financial advisor to NCR. The Latham & Watkins corporate team was led by partners Charles Ruck and Brian Umanoff. An investor consortium led by Affinius Capital, in partnership with Vista Hill Partners, has agreed to acquire Veris Residential, a Class A multifamily REIT, for an all-cash consideration of Veris common stock valued at an enterprise value of $3.4 billion. Affinius Capital and Vista Hill Partners were advised by Skadden, Arps, Slate, Meagher & Flom; Greenberg Traurig; and Simpson Thacher & Bartlett. Veris Residential, which is based in Jersey City, New Jersey, was counseled by Weil, Gotshal & Manges and Seyfarth Shaw. Fried, Frank, Harris, Shriver & Jacobson guided J.P. Morgan, acting as financial advisor to Veris. The Fried Frank team was led by M&A and private equity partners Philip Richter and Roy Tannenbaum. Goldman Sachs & Co., the lead arranger and underwriter on the bridge loan, was represented by Gibson, Dunn & Crutcher. Citigroup has agreed to sell 24 percent of its Mexico retail-banking unit to General Atlantic, Brazilian bank BTG Pactual and insurance giant Chubb, among others, for roughly $2.5 billion. The transaction, announced Feb. 24, is expected to close by the end of 2026. Sao Paulo-based BTG Pactual Bank was advised by Simpson Thacher & Bartlett partner Grenfel Calheiros. Counsel information for Citigroup, which is based in New York, was not immediately available. CECO Environmental Corp. and Thermon Group Holdings have agreed to merge for a stock and cash consideration valued at approximately $2.2 billion. The transaction, announced Feb. 24, is expected to close in mid-2026. Dallas-based CECO Environmental was advised by Gibson, Dunn & Crutcher. Thermon Group, which is based in San Marcos, Texas, was counseled by Sidley Austin. Fried, Frank, Harris, Shriver & Jacobson has guided Citi, acting as lead financial advisor to CECO. The Fried Frank team was led by M&A and private equity partners Philip Richter and Roy Tannenbaum. SPAC Mergers: IQM Finland Oy, a super conducting quantum computers designer and manufacturer, is going public via SPAC merger with Real Asset Acquisition Corp. As a result of the merger, IQM will be listed on one of the two leading U.S. stock exchanges with a post-transaction equity value of $450 million. Espoo, Finland-based IQM Finland was advised by Borenius and Cooley partners Eric Blanchard, Peter Byrne and Rita Sobral. Real Asset Acquisition Corp., which is based in Princeton, New Jersey, was counseled by Perkins Coie; Krogerus; and Conyers. IPOs: Guardian Metal Resources plc, an exploration-stage critical minerals company, announced that it has filed a registration statement with the U.S. Securities and Exchange Commission in connection with its proposed initial public offering of its American Depositary Shares. Guardian Metal was advised by Davis Polk & Wardwell partners Michael Kaplan and Connie Milonakis. BMO Capital Markets, which acted as the underwriter, was counseled by Skadden, Arps, Slate, Meagher & Flom partner Ryan Dzierniejko. Debt Offerings: OpenAI Group PBC has secured $110 billion after announcing the close of its funding round led by Amazon ($50 billion), NVIDIA ($30 billion) and SoftBank ($30 billion). San Francisco-based OpenAI was advised by a Wachtell, Lipton, Rosen & Katz team led by corporate partners Andrew J. Nussbaum and Mark F. Veblen. Counsel information for the lead investors was not immediately available. Bank of America announced a $7 billion aggregate principal senior notes offering. The lead manager, sole bookrunner and representative of the several underwriters were advised by Davis Polk & Wardwell partners Lucy Farr and Christopher Schell. Counsel information for Bank of America, which is based in Charlotte, North Carolina, was not immediately available. Infineon Technologies AG announced an aggregate 2 billion euros ($2.4 billion) in unsubordinated unsecured notes. Neubiberg, Germany-based Infineon Technologies was advised by Freshfields Bruckhaus Deringer partner Christoph Gleske. The Republic of Paraguay announced an aggregate $1.3 billion principal bond offering. The Republic of Paraguay was advised by Cleary Gottlieb Steen & Hamilton partners Matthew Brigham and Ignacio Lagos. Sunoco LP has announced an aggregate principal $1.2 billion senior notes offering. Philadelphia-based Sunoco LP was advised by a Vinson & Elkins team led by partners Jackson O'Maley, Ben Heriaud and David Stone. MetLife announced a $1 billion aggregate principal subordinated debenture. New York-based MetLife was advised by a Willkie Farr & Gallagher team led by partners John Schwolsky, Benjamin Nixon and Anne Barrett. The debentures come due in 2056. Matador Resources Co. announced a $750 million senior unsecured notes offering. Dallas-based Matador Resources Co. was advised by Baker Botts partners Preston Bernhisel, Stephen Marcus and Luke Weedon. The notes come due 2034. TPG Operating Group II LP, an indirect, wholly owned subsidiary of TPG Inc., announced a $500 million senior notes offering. TPG Operating Group II was advised by Weil, Gotshal & Manges. Wells Fargo Securities, BofA Securities, Morgan Stanley and Goldman Sachs Group, which acted as the underwriters, were counseled by a Davis Polk & Wardwell team including partners Stephen Byeff, Derek Dostal, Jack Orford, David Schnabel and Aliza Slansky. The senior notes come due 2031. Paul, Weiss, Rifkind, Wharton & Garrison has guided an ad hoc group of term loan lenders and bondholders in connection with Advantage Solutions Inc.'s $590 million aggregate principal senior secured notes offering. The Paul Weiss team included partners Lauren Bilzin, Joseph Glatt and Sung Pak.

Mar 2

7 min