Ropes & Gray’s high yield track record serves as a testament of our ability to adapt and lead in a continually evolving financial landscape. Extensive experience in capital markets securities offerings and leveraged finance allows us to provide effective public and private high yield solutions for clients in a variety of industries. Corporate issuers, private equity sponsors and their portfolio companies, and initial purchasers in high yield financings rely on Ropes & Gray to overcome the complexities of the global high yield markets.

While many firms pay lip service to the idea of an integrated high yield, senior and mezzanine finance capability, for Ropes & Gray this is a reality. We offer highly seasoned advisers – many of whom have been active in these specialized markets for decades.

The depth of our transactional experience has led to our involvement in a number of recent high profile transactions around the world, including:

• Representing a global private investment firm in the issuance and sale of approximately $400 million (€280 million) in senior notes to help finance the acquisition of J. Crew, a leading U.S. recognized apparel and accessories retailer, in one of the largest LBOs of 2011 (Q1 2011)
   
• Representing Liberty Global Inc. in connection with its €3.16 billion (US$4.48 billion) acquisition financing, including €2.25 billion (US$3.17 billion) in aggregate high yield notes issuance to acquire Germany’s third-largest cable TV operator, Kabel BW Erste Beteiligungs GmbH, from Swedish private equity group EQT Partners AB (Q1 2011)
   
• Representing The Blackstone Group in the issuance and sale of $750 million (€525 million) of senior notes, including $375 million (€262.5 million) placed with mezzanine financing sources on a U.S. “certain funds” basis, to help finance the acquisition of Emdeon, Inc., a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions (Q4 2011)

The faith placed in us by our clients is demonstrated by our sixth placed ranking by deal count according to Bloomberg in Q3 2011 acting for issuers on Euromarket high yield deals. Since January 2011, the firm has represented clients in connection with the offering of more than US$12 billion (€8.4 billion) of senior notes.

Representative High Yield Debt Offerings                      

Client	Issuer	Closing	Type	Total Size
The Blackstone Group	Emdeon	Q4 2011	Senior Notes (144A) Senior Notes (Mezz)	$375 Million $375 Million
Global Private Investment Firm	Immucor	Q3 2011	Senior Notes	$400 Million
Thomas H. Lee Partners	inVentiv Health	Q2 2011	Senior Notes	$390 Million
Lead Equity Investors	Satelites Mexicanos, S.A. de C.V.	Q2 2011	Senior Notes	$325 Million
Silver Lake Partners, Global Private Investment Firm	Avaya	Q1 2011	Senior Notes	$1 Billion
Global Private Investment Firm	J. Crew	Q1 2011	Senior Notes	$400 Million
Kohlberg & Co LLC	Packaging Dynamics	Q1 2011	Senior Notes	$289 Million

EU Deals

Client	Issuer	Closing	Type	Total Size
UPC Finance V Limited	UPC Finance V Limited	Q4 2011	Senior Notes	$750 Million
Telenet Finance IV Luxembourg S.C.A	Telenet Finance IV Luxembourg S.C.A	Q2 2011	Senior Notes	€400 Million
Vision Capital	Bormioli Rocco Holdings S.A.	Q3 2011	Senior Notes	€250 Million
Liberty Global Inc.	Kabel BW Erste Beteilgungs GmBH	Q1 2011	Senior Notes	€3.16 Billion
UPCB Finance III Limited	UPCB Finance III Limited	Q1 2011	Senior Notes	$1 Billion
UPCB Finance II Limited	UPCB Finance II Limited	Q1 2011	Senior Notes	€750 Million
Telenet Finance III Luxembourg S.C.A and Telenet Group Holding N.V.	Telenet Finance III Luxembourg S.C.A and Telenet Group Holding N.V.	Q1 2011	Senior Notes	€300 Million

London
Jonathan Bloom

New York
Jay Kim 

Chicago
Andrew Terry 

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