Davis Polk advised Barclays Bank PLC, Citigroup Global Markets Limited and J.P. Morgan Securities plc, as joint bookrunners and representatives of several initial purchasers in connection with a Rule 144A/Regulation S offering of notes by Myriad International Holdings B.V., a wholly owned subsidiary of Naspers Limited. The offering consisted of $750 million principal amount of 6% notes due 2020 and a tap issuance of $250 million principal amount of 6% notes due 2020. The notes are guaranteed by Naspers Limited.
Based in Cape Town, South Africa, Naspers is listed on the JSE and LSE, and is a leading group of international media and Internet platforms. Operations include being the leading pay-television provider in Africa and operations in e-commerce and other Internet services, as well as in print media. Significant operations are located in Africa, China, Russia, Central and Eastern Europe, Latin America, India, Southeast Asia and the Middle East.
The Davis Polk corporate team included partner Paul E. Kumleben, associate Tiaan Schreuder and summer associate Fiona Finlay-Hunt. The tax team included partner John D. Paton and associate Sarah Joy. Claire Lim was the legal assistant on this transaction. All members of the Davis Polk team are based in the London office.
