HCA Completes $2 Billion High Yield Debt Offering

Simpson Thacher recently represented HCA Inc. in its high yield offering of $600 million aggregate principal amount of 4.25% Senior Secured Notes due 2019 and $1.4 billion aggregate principal amount of 5.25% Senior Secured Notes due 2025. HCA intends to use the net proceeds for the redemption of a series of its existing secured notes, for related fees and expenses and for general corporate purposes.

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BDT Raises $5.2 Billion of Capital Commitments for Fund II

BDT Capital Partners (“BDT”) announced in a filing with the United States Securities and Exchange Commission that BDT had raised approximately $5.2 billion of capital commitments from over 100 investors for BDT Capital Partners Fund II, L.P. and its related parallel partnership vehicles. Cravath represented BDT in connection with the fundraising for Fund II.

The Cravath team included partner David J. Perkins and associate Matthew J. Aldana on corporate matters; partners Andrew W. Needham and Christopher K. Fargo and associate Ashley N. Elnicki on tax matters; and partner Jennifer S. Conway and associate Jonathan J. Katz on ERISA matters.

Paul Hastings Advises Banks on Financing Mountaineer Keystone Energy’s Acquisition of PDC Mountaineer Assets

Paul Hastings LLP, a leading global law firm, represented the banks in financing the acquisition of the equity interests and certain oil and gas properties of PDC Mountaineer, LLC by Mountaineer Keystone Energy, LLC.

Citigroup Global Markets, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint lead arrangers and bookrunners, and Citibank, N.A., acted as administrative agent, on the financing. The financing consisted of a $110 million first lien reserve-based revolving facility.

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US $2 billion Punta Catalina Coal Fired Power Project, Dominican Republic

Davis Polk advised Construtora Norberto Odebrecht S.A. in connection with the construction and joint venture arrangements for the design, engineering, procurement, construction and commissioning of two “clean coal” fired thermoelectric power plants to be located in Punta Catalina, Hatillo, in the Dominican Republic. The power plants are being constructed on behalf of Corporación Dominicana de Empresas Eléctricas Estatales. The Project has been undertaken as a solution to the country’s electricity shortages and high energy prices.

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Merck & Co., Inc. $2.5 Billion Notes Offering and Concurrent Tender Offer

Davis Polk advised underwriters represented by BNP Paribas, Deutsche Bank AG, London Branch and J.P. Morgan Securities plc in connection with the offering of $2.5 billion aggregate principal amount of notes issued by Merck & Co., Inc. (Merck). The notes were offered in three tranches, maturing in 2021, 2026 and 2034.

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Shearman & Sterling Advises on Petróleos Mexicanos’ US $1 Billion Notes and US $1.5 Billion Bonds

Shearman & Sterling represented Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with (i) an issuance of 4.250% Notes due 2025 in an aggregate amount of U.S. $1,000,000,000 and (ii) an issuance of 5.50% Bonds due 2044 in an aggregate amount of U.S. $1,500,000,000 of Petróleos Mexicanos (Pemex) and guaranteed by its wholly-owned subsidiaries Pemex-Exploración y Producción, Pemex-Refinación and Pemex-Gas y Petroquímica Básica.

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Paul Hastings Represents Banks in Financing DPx Holdings B.V.’s Acquisition of Gallus BioPharmaceuticals

Paul Hastings LLP, a leading global law firm, announced today that the firm represented UBS Securities LLC, J.P. Morgan Securities LLC, Jefferies Finance LLC, Keybank National Association and Morgan Stanley Senior Funding, Inc. as joint lead arrangers and joint bookrunners and UBS AG, Stamford Branch as administrative agent in connection with a $160 million and €70 million incremental add-on to DPx Holdings B.V.’s credit facility. The proceeds were used primarily for the purchase of Gallus BioPharmaceuticals, LLC, a contract manufacturing company involved in biologics development.

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Mayer Brown advises Milestone Aviation Group and a consortium of financial investors in Milestone’s $1.775 billion sale to GE Capital

Mayer Brown represented Dublin-based helicopter lessor The Milestone Aviation Group and a consortium of financial investors led by private equity firm The Jordan Company in Milestone’s $1.775 billion stock sale to GE Capital Aviation Services, the aircraft leasing unit of GE. Milestone is the world’s largest helicopter-leasing company by fleet value and the first global aircraft operating lease company focused exclusively on the helicopter market. Mayer Brown also represented the financial investors in initially forming Milestone in 2010 and in multiple capital raising transactions.

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Shearman & Sterling Represents InRetail Consumer in Senior Notes Offering, Offer to Purchase and Consent Solicitation

Shearman & Sterling represented InRetail Consumer, a Peruvian trust, along with its subsidiaries, in connection with (1) its issuance of US$300,000,000 aggregate principal amount of 5.250% Senior Notes due 2021 and (2) its offer to purchase and consent solicitation for any and all of the outstanding 8.875% Senior Secured Notes due 2018 of Interproperties Retail Trust, a Cayman trust.

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