Dechert Advises Tech Mahindra on US$240 Million Acquisition of Lightbridge Communications Corporation

Tech Mahindra Ltd., an independent global provider of network engineering services to the telecommunications industry, announced that it has signed a definitive agreement to acquire global network services leader Lightbridge Communications Corporation for an enterprise value of approximately US$240 million, subject to regulatory approvals. Dechert LLP is acting as legal advisor to Tech Mahindra in the transaction, which is expected to close by Q4 of Tech Mahindra’s 2015 fiscal year.

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PRA Health Sciences’ IPO Raises $351 Million

The Firm recently represented PRA Health Sciences, Inc. (“PRA”), a portfolio company of Kohlberg Kravis Roberts & Co. L.P., in connection with its initial public offering of common stock. The offering of 19,523,255 shares of common stock, which included the underwriters’ option to purchase 2,546,511 additional shares, raised approximately $351 million in gross proceeds. The shares of PRA are now listed on the Nasdaq Global Select Market under the ticker symbol “PRAH”.

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Hogan Lovells Advises Republic of Ecuador in its US$509 Million Loan from Chexim

Hogan Lovells advised the Republic of Ecuador in the negotiation of a US$509 million facility agreement that was executed by the Export-Import Bank of China (Chexim) and the Ministry of Finance of Ecuador. Under the agreement, Chexim granted a loan to be used for the construction of the 500Kv transmission lines, which are strategically required to connect the three mega hydroelectric projects currently being built in Ecuador by Chinese construction companies.

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Goodwin Procter Represents Paramount Group in $2.3 Billion IPO; Largest Ever REIT IPO

Goodwin Procter recently advised Paramount Group Inc. in connection with its initial public offering of 131 million shares of common stock. Shares priced at $17.50 per share, making the offering the largest IPO in the REIT industry since it was first established 50 years ago. The company is listed on the New York Stock Exchange and shares began trading on November 19, 2014 under the ticker “PGRE.”

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Recruit’s IPO Raises $1.8 Billion

The Tokyo office of Simpson Thatcher recently represented Recruit Holdings Co., Ltd. (“Recruit”) in connection with its initial public offering on the Tokyo Stock Exchange and global offering to institutional investors pursuant to Rule 144A and Regulation S under the Securities Act. Recruit sold 21,589,600 shares in the international offering, with an additional 6,000,000 shares sold by the selling shareholders in the international offering.

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Canadian Natural Resources Closes $1.2 Billion Debt Offering

Paul, Weiss client Canadian Natural Resources Limited, a Canadian energy company, completed a public offering in the United States of $1.2 billion of debt securities in two tranches: $600 million of 1.750% notes due 2018 and $600 million of 3.900% notes due 2025. The joint bookrunning managers were Citigroup Global Markets Inc., Barclays Capital Inc., J.P. Morgan Securities LLC, Mitsubishi UFJ Securities (USA), Inc. and RBS Securities Inc.

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