Holt Goddard is a partner in White & Case's Capital Markets section. Holt advises clients on a range of securities offerings and other capital markets transactions.
Holt has represented both issuers and underwriters in initial public offerings, as well as follow-on and secondary equity offerings. In addition, Holt has also represented issuers and initial purchasers in offerings of both high-yield and investment grade debt.
Holt has specialized in transactions having unusual complexity, whether from regulatory obstacles, multinational challenges, unusual contractual obligations and structures and others. Clients have appreciated Holt's ability to solve for challenging situations, creating bespoke solutions that allow clients to achieve their goals.
Clients benefit from Holt's wide-ranging sector knowledge, in industries as diverse as entertainment, financial services, media, shipping and retail. International in outlook and approach, Holt has been involved in transactions for issuers headquartered in North America, South America, Europe, Africa, Asia and Australia.
Acosta, Inc. Reorganization and Recapitalization:
Represented Elliott Management Corporation in its participation in US$325 million of new equity capital in the Chapter 11 reorganization and recapitalization of Acosta, Inc., a full-service sales and marketing agency,and elimination of all of Acosta, Inc.'s approximately US$3 billion of long-term debt. The equity raise included a $260 million rights offering.
BJ's Wholesale IPO and Follow-On Offerings:
Represented underwriters, including BofA Merrill Lynch, Deutsche Bank, Goldman Sachs and J.P. Morgan in the private equity backed, US$733 million initial public offering of BJ's Wholesale Club Holdings, Inc. a leading operator of membership warehouse clubs in the eastern United States. Also represented the underwriters in an $837.2 million secondary offering of BJ's common stock and a subsequent $417.8 million secondary block trade.
Concordia International Corp. Recapitalization:
Represented the ad hoc group of secured creditors to Concordia International Corp. on its US$3.7 billion recapitalization. Concordia is a publicly listed international generics pharmaceuticals business with sales in more than 90 countries. Representation included work on a $587 million rights offering for Concordia.
Apollo Global Management Offering:
Represented Goldman Sachs, J.P. Morgan and Credit Suisse in the $950 million initial equity offering by Apollo Global Management. The offering was a global private placement of equity with registration rights.
SFX Entertainment IPO:
Represented UBS, Jefferies and Deutsche Bank in the US$260 million IPO by SFX Entertainment, Inc., a producer of live events and entertainment content focused on electronic music culture. Holt also represented the initial purchasers in a subsequent bond offering for SFX.
CURO Group Holdings Corporation IPO and Follow-On Offering:
Represented underwriters, including Credit Suisse, Jefferies and Stephens on the $93.3 million IPO and subsequent $128 million follow-on offering by CURO Group Holdings, a diversiﬁed consumer ﬁnance company.
Melco Crown Entertainment ADR Offering & Swap:
Represented underwriters, including Deutsche Bank, UBS and Morgan Stanley in a $655 million secondary offering of ADRs of Melco Crown Entertainment Ltd., an operator of casino resorts in Asia. Approximately two-thirds of the ADRs were conveyed to the underwriters via a swap.
HNA Group Co., Ltd. SEC-Registered Sales of Common Stock:
Represented HNA in its sale of its 25% stake in three entities associated with Hilton Hotels: Park Hotels & Resorts, Hilton Grand Vacations and Hilton Worldwide Holdings. Each transaction was structured as a registered secondary equity offering with a simultaneous sale of a portion of the investment back to the issuer. Total proceeds in the three transactions were over $6 billion.
HNA Group Co. Ltd. Sale of Investment in BrightSphere:
Represented HNA in the sale of its 25% stake in BrightSphere Investment Group, a public, asset management company, to Paulson & Co., Inc. in a transaction valued at over $365 million. The transaction closed in two stages, with the second stage coming after regulatory approval.
Represented underwriters, including Credit Suisse and Jefferies, in the US$55 million IPO of Macrocure Ltd. an Israeli biopharmaceutical company.
Breitburn Energy Partners:
Represented ad hoc group of unsecured senior creditors on the US$3 billion reorganization of Breitburn Energy Partners. Representation included work on a $775 million rights offering for common stock of Breitburn.
Ovation (Energy Future Holdings):
Represented an ad hoc committee of unsecured noteholders in the US$42 billion reorganization of Energy Future Holdings. Representation included work on a proposed $5.8 billion rights offering for common stock of Ovation Acquisition I.