Shearman & Sterling Advises on Refinancing for Astoria Generating

Shearman & Sterling advised Goldman Sachs Lending Partners LLC, Morgan Stanley Senior Funding, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers, joint bookrunners and joint syndication agents in connection with a $455 million refinancing, consisting of a $425 million 5-year term loan and a $30 million 4.5-year revolving credit facility for Astoria Generating Company Acquisitions, L.L.C (“Astoria”), an entity formed by an investor group led by Madison Dearborn Partners and New York City-based US Power Generating Company.

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Tags:  Shearman & Sterling LLP | New York

Dechert Advises Stripes Group on Investment in Leading Mobile Cloud Provider Netbiscuits

International law firm Dechert LLP advised SG Growth Partners II Luxco S.a.r.l., a newly established private equity fund with corporate seat in Luxembourg managed by Stripes Group, LLC, in its $25M investment in German-based Netbiscuits GmbH, the global leader in software solutions for adaptive web development. The investment was supported by existing investor T‐Venture, a wholly owned subsidiary of Deutsche Telekom AG.

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Tags:  Dechert LLP

CMS Advises Telefónica Deutschland on the Largest IPO in Germany in the Last Five Years

CMS has advised Telefónica Deutschland Holding AG on its IPO on the Frankfurt Stock Exchange and sale of shares by Telefónica S.A which priced today. The gross issue proceeds from the sale of the shares placed amounts to EUR 1,260 million. If the greenshoe option is fully exercised, the gross issue proceeds will increase to up to EUR 1,449 million. This is the largest flotation in Germany within the last five years.

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Tags:  CMS | Germany