Monthly Archives: November 2011

Morrison & Foerster Advises Dalian Port on its RMB400 Million RMB Bond Offering

Thursday, November 3, 2011
Morrison & Foerster advised Dalian Port (PDA) Company Limited (“Dalian Port”), long-standing client of the firm, on a RMB400 million 5.8% RMB bond offering due 2014 by its wholly-owned subsidiary, Asia Pacific Ports Development Company Limited. The Bonds were guaranteed by another wholly-owned subsidiary, Asia Pacific Ports Company, and had the benefit of a keepwell support arrangement from Dalian Port.  Bank of Communications, BNP Paribas, CCBI, Deutsche Bank, Merrill Lynch International, and UBS acted as the Joint Lead Managers.

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Tags:  Morrison & Foerster LLP | Hong Kong

Clifford Chance Advises on the Issuance by International Petroleum Investment Company P.J.S.C. Under Its Global Medium Term Note Programme

Thursday, November 3, 2011
Clifford Chance has advised International Petroleum Investment Company P.J.S.C. (“IPIC”) in relation to the issuance of U.S.$1,500,000,000 3.750 per cent. guaranteed Notes due 2017, U.S.$1,500,000,000 5.500 per cent. guaranteed Notes due 2022 and U.S.$750,000,000 6.875 per cent. guaranteed Notes due 2041 (the “Notes”) under its Global Medium Term Note Programme, which was updated on 19 October 2011. The issuance of the Notes took place on 1 November 2011. The Notes were admitted to trading on the London Stock Exchange.

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Tags:  Clifford Chance LLP | Dubai

Cooley Advises Web.com on $800 Million Acquisition Financing

Thursday, November 3, 2011
Cooley LLP announced that it advised Web.com (NASDAQ: WWWW) on its $800 million acquisition financing, consisting of a $650 million First Lien Senior Secured Credit Facility and a $150 million Second Lien Senior Secured Credit Facility.  Web.com completed its acquisition of Network Solutions on October 27, 2011.  The First Lien Credit Facility consisted of a $600 million six-year First Lien Term Loan and a $50 million Revolving Credit Facility.  The Second Lien Credit Facility consisted of a seven-year Second Lien Term Loan.  Web.com used the net proceeds of the Credit Facilities to finance a portion of its acquisition of privately held Network Solutions and pay off Web.com’s previous loan facility, and related fees and expenses.

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Tags:  Cooley LLP

Bryan Cave LLP Expands Presence in Germany

Wednesday, November 2, 2011
The international law firm Bryan Cave LLP (www.bryancave.com) will significantly expand its European presence through the addition of two leading attorneys and the establishment of an office in Frankfurt, Germany. The move follows Bryan Cave’s successful launch of a Hamburg office in 2007 and is part of an overall strategic plan to substantially broaden the firm’s legal team in Germany during the next five years.

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Tags:  Bryan Cave Leighton Paisner | Germany

King & Spalding Advises KTPB on US$350 Million Certificates; First-Ever Asset-Backed Certificates Originating from Turkey

Wednesday, November 2, 2011
King & Spalding advised Kuveyt Turk Katilim Bankasi A.S. (KTPB), a Turkish participation bank majority-owned by Kuwait Finance House, in the issuance of US$350 million certificates due 2016, listed on the London Stock Exchange. The certificates are the first-of-its-kind asset-backed certificates from Turkey, and the first certificates issued under newly revised Turkish legislation permitting such certificate issuance (known as rental certificates) through a Turkish incorporated special purpose vehicle. The certificates will be issued through KT Sukuk Varlik Kiralama A.S, a Turkish incorporated special purpose vehicle.

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Tags:  King & Spalding LLP | Dubai

Davis Polk – IBM $1.85 Billion Notes Offering

Wednesday, November 2, 2011
Davis Polk advised underwriters represented by Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC in connection with a public offering by International Business Machines Corporation of $1.35 billion principal amount of its 0.875% notes due 2014 and $500 million principal amount of its 2.900% notes due 2021.

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Tags:  Davis Polk & Wardwell | New York