Harbinger Group Inc. $700 Million High-Yield Notes Offering and Concurrent Tender Offer and Consent Solicitation

LawFuel.com – US Law News – 27 December 2012 – Davis Polk advised Deutsche Bank Securities Inc., Jefferies & Company, Inc. and Macquarie Capital (USA) Inc., as initial purchasers, on a Rule 144A/Regulation S offering by Harbinger Group Inc. of $700 million aggregate principal amount of its 7.875% senior secured notes due 2019. The notes are secured by first-priority liens on substantially all of the assets of Harbinger Group. Davis Polk also advised Deutsche Bank Securities Inc. as dealer manager of a concurrent tender offer and consent solicitation by Harbinger Group to purchase any and all of its outstanding 10.625% senior secured notes due 2015 and a solicitation of consents to certain amendments to the related indenture. The tender offer was funded with the proceeds of the 7.875% senior secured notes offering.

Harbinger Group is an NYSE-listed company that is majority owned by funds affiliated with Harbinger Capital Partners LLC. Harbinger Group’s principal focus is to identify and evaluate business combinations or acquisitions of businesses.

The Davis Polk capital markets team included partner John B. Meade and associates Robby Sen, Yasin Keshvargar, Connor Kuratek and Jeffery Brenner. The credit team included partner Jinsoo H. Kim, associate Jeong M. Oh and law clerk Loren A. Crary. Counsel Hayden S. Baker provided environmental advice. The tax team included partner Samuel Dimon and law clerk Tracy L. Matlock. Kristyn M. Dunleavy was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.

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