Puerto Rico’s record $3.5 billion debt sale was structured to keep out individual investors with less than $100,000 to spend. Those buyers have found a way in, lured by the biggest rally in high-yield municipal bonds in five years.
The biggest rally in high-yield municipal debt in five years is luring individuals to Puerto Rico’s $3.5 billion deal, even as the commonwealth seeks to keep them away because the securities are so risky.
When Facebook Inc. sought to acquire messaging startup WhatsApp Inc. for as much as $19 billion in cash and stock, the social networking site turned to Weil, Gotshal & Manges LLP for the deal. WhatsApp relied on Fenwick & West LLP, the firm that acted as Facebook’s outside counsel in its 2012 initial public offering.
Toronto-Dominion Bank was sanctioned by a federal judge in Miami for “willfully” concealing evidence relevant to a trial over whether it aided a $1.2 billion Ponzi scheme by disbarred attorney Scott Rothstein.
K&L Gates LLP and Australian firm Middletons agreed to combine as of Jan. 1. Middletons’ 300 lawyers in four Australian offices will bring the firm, which will continue to be known as K&L Gates, to 2,000 lawyers in 46 offices on five continents.