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White & Case LLP

Gary Kashar

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White & Case

Work Department

Capital Markets, Real Estate




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United States: Finance

Capital markets: debt offerings

Within: Capital markets: debt offerings

White & Case LLP’s traditionally issuer-focused practice secured an impressive volume of high-profile manager mandates during 2017. As a case in point, regional practice head John Vetterli and Andrew Weisberg advised the joint book-running managers on a $2bn cross-border bond issuance by Peruvian government-owned Petróleos del Perú. Furthermore, Gary Kashar and Colin Diamond advised the underwriting syndicate on two debt offerings by Delta Air Lines totaling $2.4bn. Walt Disney remains a trophy client on the issuer side and recently engaged the firm to advise on $6bn worth of debt issuances, including a C$1.2bn SEC-registered offering sold in Canada through private placement - Michelle Rutta led that work. The team, which is largely centered in New York, has also recently handled matters for Avangrid, Empresa de Transporte de Pasajeros Metro and Société Générale.

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Capital markets: high-yield debt offerings

Within: Capital markets: high-yield debt offerings

White & Case LLP has traditionally been stronger on the manager side, with the firm leveraging its strong relationships with major global lenders to routinely advise underwriters on major domestic and cross-border high-yield offerings. However, the firm’s focus on raising its issuer-side profile has paid dividends, and it handled a string of headline mandates for major corporations through 2017. Most notably, New York partners Gary Kashar and Andrew Weisberg advised Calpine on a tack-on private placement of notes worth $560m. The same team also assisted Dynergy with a $850m offering of notes and a $1.2bn cash tender offer. Underwriter-side highlights include Kenneth Suh acting for the joint lead arrangers on two notes offerings worth $1.4bn by Golden Nugget connected to its complex reorganization with Landry’s. Also in New York, Ronald Brody and Jonathan Michels advised Jefferies and Macquarie Capital as joint book-running managers and initial purchasers on Everi Payments’ $375m offering of senior unsecured notes.

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