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.
- 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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