The Week at Ropes & Gray
❖ Genstar Invests in Worldwide Facilities
❖ Firm Continues to Grow London Finance Practice
❖ Examining Hospital Price Transparency
❖ Assessing Cryptocurrency Investment Challenges
❖ Firm Ranks Highly for Deals and Loans
This week, Ropes & Gray attorneys advised clients on major transactions, contributed insights to key industry publications on a variety of subjects and received outstanding recognition for leadership. The firm was also recognized for excellence in facilitating deals and loans. Here’s a summary of the week’s highlights:
- Genstar Capital signed an agreement in which the private equity firm will become a new investor in Worldwide Facilities, a national wholesale insurance broker and program manager. As part of the agreement, Lovell Minnick Partners will exit its investment in Worldwide. Ropes & Gray advised Genstar on the investment.
- Building on what has been a stellar 2019 for Ropes & Gray’s London finance group, the team continued to grow its market share of underwriter-side representations by advising on two high yield bond offerings totaling more than €1.5 billion.
- In a bridge-to-bond P2P transaction, the team advised a consortium of banks on a €775 million-equivalent senior secured notes offering to refinance the take-private of international beauty company Oriflame.
- The team also advised a group of banks on an €800 million senior notes offering by Intrum, Europe’s largest credit management company, to refinance Intrum’s existing debt.
- The Trump administration proposed a rule last week that would require hospitals and insurance companies to disclose negotiated prices. Health care partner Tom Bulleit addressed a potential legal challenge to the rule in Healthcare Dive.
- Cryptocurrency continues to pose regulatory and investment challenges for registered investment advisers and the industry as a whole. In Financial Advisor, asset management partner Melissa Bender explains how the custody rule leaves financial advisors with limited investment options. Blockchain and emerging technologies attorney Marta Belcher also discusses how digital asset regulatory uncertainty may be hampering industry growth.
- Ropes & Gray was ranked among the top legal advisors in two separate league table reports for Q2:
- In the Refinitiv (Thomson Reuters) Loan Pricing Corporation U.S. League Tables, the firm ranked second in borrower representation by number of leveraged deals and M&A deals.
- In Debtwire’s North America’s 2019 League Table Report, the firm ranked first in borrower representation for middle-market institutional loans, second for buyout leveraged loans and institutional leveraged loans, and third for middle-market loans.
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