Davis Polk advised Marsh & McLennan Companies, Inc. on its cash tender offers for an aggregate of $600 million outstanding principal amount of its 5.375% notes due 2014 and 5.75% notes due 2015. Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. acted as dealer managers for the tender offers. Davis Polk also advised Marsh & McLennan Companies in connection with a concurrent SEC-registered offering of $500 million aggregate principal amount of 4.8% senior notes due 2021. The proceeds from the senior notes offering were used to partially fund the tender offers. Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC acted as joint book-running managers for the senior notes offering.

On July 14, Willkie client Zurich Financial Services Group announced that it has signed definitive agreements with Banco Santander SA to enter into a long-term alliance in Latin America.  Zurich and Madrid-based Banco Santander have agreed to enter into a 25-year strategic distribution arrangement in Latin America.

Jenner & Block recently represented Swiss-based Lonza Group Ltd. in its agreement to acquire all of the outstanding shares of Arch Chemicals, Inc., for a purchase price of approximately $1.2 billion.  Lonza is one of the world’s leading suppliers to the pharmaceutical, healthcare and life science industries companies.  Arch is a global biocides company with more than $1 billion in annual sales.

Shearman & Sterling represented Citigroup Global Markets Inc. and RBS Securities Inc. as dealer managers in connection with exchange offers of various series of notes of Prologis, L.P. (formerly AMB Property, L.P.) for certain series of outstanding notes issued by ProLogis, conducted in connection with, and subject to the consummation of, a merger of equals between ProLogis and AMB Property Corporation. The combined company is now known as Prologis, Inc. Concurrently with the exchange offers, Citigroup Global Markets Inc. and RBS Securities Inc. acted as solicitation agents on behalf of the combined company, for the solicitation of consents from the holders of the ProLogis notes to certain proposed amendments to the relevant ProLogis notes indenture. The exchange offers closed on June 8, 2011.

Davis Polk advised Equinix, Inc. on its SEC-registered offering of $750 million aggregate principal amount of 7% senior notes due 2021. J.P. Morgan Securities LLC and Citigroup Global Markets Inc. acted as joint book-running managers for the offering.

Dewey & LeBoeuf has represented Citibank, N.A. as depositary receipts servicer and Citigroup Global Markets Deutschland AG as depositary on OJSC PhosAgro’s US$538 million initial public offering (IPO) in the form of shares and global depositary receipts on the London Stock Exchange (LSE).

A cross-office Baker & McKenzie team acted as Thai and US law counsel to the joint underwriters – The Hongkong and Shanghai Banking Corporation Limited (Bangkok Branch), Krung Thai Bank Public Company Limited, The Siam Commercial Bank Public Company Limited and KASIKORNBANK Public Company Limited – in connection with the issuance of 10-year 1.2% inflation-linked bonds (the “Bonds”) by the Ministry of Finance of Thailand.

Global law firm White & Case LLP has advised the Turkish lead arrangers — Yapi ve Kredi Bankasi A.Ş., Türkiye İş Bankasi A.Ş., Vakiflar Bankasi T.A.O. and Türkiye Garanti Bankasi A.Ş. — in connection with a term loan facility of US$700 million and a letter of guarantee facility of US$80 million to project finance the development and operation of a gas fired combined cycle power (CCGT) plant of 865 MW within the Kocaeli-Gebze VI IMES OIZ industrial zone in Gebze, Republic of Turkey.