On Thursday, March 22, 2012, Davis Polk won a significant victory on behalf of Delphi, a world-leading auto parts manufacturer that recently emerged from Chapter 11 restructuring.
Tags: Davis Polk & Wardwell LLP | New York 
Monthly Archives: April 2012
Davis Polk Advises ORIX Corporation on Its $500 Million SEC-Registered Notes Offering
Davis Polk advised ORIX Corporation in connection with its SEC-registered shelf takedown of $500 million aggregate principal amount of 3.75% notes due 2017. Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated were the joint bookrunners for the offering.
Tags: Davis Polk & Wardwell LLP | Tokyo 
Simpson Thacher Represents Initial Purchasers in US$1 Billion Debt Offering by Samsung Electronics America, Inc. Guaranteed by Samsung Electronics Co., Ltd.
Simpson Thacher recently represented Citigroup Global Markets Inc., Goldman Sachs International, J.P. Morgan Securities LLC, Merrill Lynch International and Samsung Securities Co., Ltd. as initial purchasers, in connection with an offering of US$1 billion aggregate principal amount of 1.75% Notes due 2017. The notes were issued by Samsung Electronics America, Inc., a U.S. subsidiary of Samsung Electronics Co., Ltd. (“Samsung Electronics”), and are guaranteed by Samsung Electronics. Samsung Electronics, in its first overseas bond offering in recent years, offered a record amount in the global market with yields being paid to bondholders falling lower than that for the South Korean government debt, the first Korean company to do so. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933.
Tags: Simpson Thacher & Bartlett LLP | Hong Kong Simpson Thacher Represents Initial Purchasers and Lenders in Refinancing Transactions by United Surgical Partners International, Inc.
The Firm recently represented the initial purchasers, led by Barclays Capital Inc., in connection with the issuance by USPI Finance Corp. (“USPI Finance”) of $440 million aggregate principal amount of 9.000% senior notes due 2020. The notes were assumed by United Surgical Partners International, Inc. (“USPI”), an affiliate of USPI Finance. Simpson Thacher also represented J.P. Morgan Chase Bank, N.A. and the other lenders in connection with an amendment of USPI’s existing senior secured credit facility to, among other things, extend the maturity of certain of its term loans, add a new tranche of term loans and refinance the existing revolving credit facility. The amended senior secured credit facility will provide for senior secured financing of up to $958.2 million.
Tags: Simpson Thacher & Bartlett LLP | New York 
T&K Helps Southwest Airlines Win Another East Texas Patent Infringement Verdict
Thompson & Knight attorneys Max Ciccarelli, J. Michael Heinlen, and Gary R. Sorden have obtained another courtroom defense win for Dallas-based Southwest Airlines Co. (NYSE: LUV) in an East Texas patent infringement case.
Tags: Thompson & Knight LLP | Dallas 
Freshfields Boosts its Asian Energy, Natural Resources and Infrastructure Practices with Additional Partner Appointments
International law firm Freshfields Bruckhaus Deringer LLP has appointed Gavin MacLaren and Mark Plenderleith as partners to boost its energy, natural resources and infrastructure capability in Asia.
Tags: Freshfields LLP | Hong Kong 
Igor Gorchakov Joins Allen & Overy in Russia
Allen & Overy is pleased to announce that Igor Gorchakov has joined the firm as a partner in the Banking department, based in Moscow.
Tags: Allen & Overy LLP | Moscow 
Dechert Represents France Telecom-Orange in Its US$3.35 Billion Tender Offer Over ECMS and the Related Transaction With Orascom Telecom Media and Technology Holding
France Telecom-Orange (“FT”) and Orascom Telecom Media and Technology Holding S.A.E. (“OTMT”) announce that they have agreed on the final terms governing the partial sale of OTMT’s direct and indirect stakes in the Egyptian Company for Mobile Services (“ECMS”) and the parties’ continued partnership in the governance and ownership of ECMS. As of the date hereof, MobiNil for Telecommunications S.A.E. (“MobiNil”) owns 51.03% of the shares and voting rights in ECMS. FT holds 71.25% of MobiNil’s shares while OTMT holds the remaining 28.75%. In addition, OTMT directly owns 20% of the shares and voting rights in ECMS. The remaining share capital of ECMS amounting to 29% is traded with the EGX.
Tags: Dechert LLP 
Clifford Chance Advises CVC Capital Partners on Hong Kong Telecom and Broadband Acquisition
Leading international law firm Clifford Chance has advised Metropolitan Light Company Limited, a company formed by CVC Funds, on its acquisition of Hong Kong Broadband Network (HKBN) and the IDD business from City Telecom (H.K.) Limited (CTI).
Tags: Clifford Chance LLP | Hong Kong Clifford Chance Advises on Two Successful Bond Offerings
Leading international law firm Clifford Chance has advised on two separate bond offerings, Shangri-La Asia’s US$600 million five-year notes and Vincom’s US$185 million convertible bond.
Tags: Clifford Chance LLP | Hong Kong 