April 24, 2018
A Weil team advised Goldman Sachs and Morgan Stanley in providing committed bridge financing for the $6 billion merger of CenterPoint Energy, a domestic energy delivery company that includes electric transmission and distribution, natural gas distribution and energy services operations, and Vectren Corporation, an energy holding company. The transaction was announced on April 23, 2018.
The Weil team advising Goldman Sachs and Morgan Stanley was led by Banking & Finance partner Morgan Bale, and included Banking & Finance partner Heather Viets; Capital Markets partners Faiza Rahman and Michael Hickey; M&A partner Raymond Gietz; Environmental partner Annemargaret Connolly; Environmental counsel Thomas Goslin; Banking & Finance associates Charles Driscoll and Vaishali Mahna (not yet admitted to practice); Capital Markets associates Michael Stein, Jonathan Goltser and Joshua Van Kirk (not yet admitted to practice); M&A associate Stephen Liebscher; Regulatory associates Timothy Welch, Greg Chafuen and Carl Duffield; Executive Compensation & Benefits associate Craig Olshan; and Tax associate Mor Agam.
This transaction is the latest in a series of high profile investment grade acquisition financings Weil has been involved in over the past year. Other recent matters include representing:
- J.P. Morgan, Goldman Sachs and another major financial institution in providing committed debt financing for Keurig Green Mountain’s acquisition of Dr Pepper Snapple Group.
- Goldman Sachs in an up to $9 billion bridge facility for a new “Fox,” an entity comprising highly-rated news, sports and broadcast businesses to be spun off by Twenty-First Century Fox, Inc. to its shareholders.
- Barclays, Goldman Sachs and another major financial institution, as joint lead arrangers, in a $49 billion committed facility to finance in part CVS Health Corporation’s pending $77 billion acquisition of Aetna Inc.
- Morgan Stanley in connection with the financing for Assurant, Inc., a global leader in risk management solutions, to support its $2.5 billion acquisition of The Warranty Group, a global provider of warranty solutions and related benefits, from TPG Capital.
- Goldman Sachs and another major financial institution, as joint lead arrangers and joint bookrunners, in a $13.7 billion committed unsecured bridge facility to finance Amazon’s acquisition of Whole Foods Market.
- Morgan Stanley as sole lead arranger and sole lead bookrunner in a $4.5 billion committed bridge facility, and as lead arranger and bookrunner in $3.3 billion term and revolving facilities, and Morgan Stanley, J.P. Morgan and another major financial institution as representatives of the underwriters in a $2.75 billion senior notes offering by Tyson Foods, Inc. to finance its $4.2 billion merger with AdvancePierre Foods Holdings, Inc., a producer and distributor of ready-to-eat sandwiches, sandwich components and other entrées and snacks.
- Citi, as sole lead arranger and sole lead bookrunner in a $15.7 billion committed bridge facility, and as lead arranger and bookrunner in $4.5 billion term and revolving working capital facilities, for Becton, Dickinson and Company (BD), a medical technology company, to support BD's pending $24 billion acquisition of C. R. Bard Inc., a medical equipment maker specializing in the manufacture of vascular, urology, oncology, and surgical specialty products.