Davis Polk advised JPMorgan Chase Bank, N.A., as administrative agent, and Barclays Bank PLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, JPMorgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley Senior Funding, Inc., as joint lead arrangers and joint bookrunners, and BNP Paribas Securities Corp., The Bank of Tokyo-Mitsubishi UFJ, Ltd., HSBC Bank USA, National Association, Mizuho Bank, Ltd., RBC Capital Markets, RBS Securities Inc., Santander Bank, N.A., Societe Generale, Sumitomo Mitsui Banking Corporation, Credit Agricole Corporate and Investment Bank, Fifth Third Bank, Banco Bilbao Vizcaya Argentaria, S.A., ING Bank NV, Intesa San Paolo and Commerzbank AG, New York and Grand Cayman Branches, as co-lead arrangers, in connection with an $8 billion five-year senior unsecured term loan facility provided to Synchrony Financial (“Synchrony”). The proceeds of the facility will be used to refinance Synchrony’s existing indebtedness and for working capital and general corporate purposes.
Herbert Smith Freehills advises on A$164 million solar farm project
Herbert Smith Freehills has advised Fotowatio Renewable Ventures (FRV) on its new solar farm at Moree in northern New South Wales, which is the first merchant financed project ever undertaken in Australia.
Tags: Herbert Smith Freehills Kramer LLPEntergy Louisiana, LLC and Entergy Gulf States Louisiana, L.L.C. – $ 315 million System Restoration Bond Offerings
Hunton & Williams LLP advised the underwriters in connection with the sale of $243,850,000 Louisiana Local Government Environmental Facilities and Community Development Authority System Restoration Bonds (Louisiana Utilities Restoration Corporation Project/ELL) Series 2014 (Federally Taxable) and $71,000,000 Louisiana Local Government Environmental Facilities and Community Development Authority System Restoration Bonds (Louisiana Utilities Restoration Corporation Project/EGSL) Series 2014 (Federally Taxable).
Milbank Represents Initial Purchasers in $1.1 Billion Bond Offering by Chile’s GNL Quintero
Milbank, Tweed, Hadley & McCloy LLP represented a group of international banks as initial purchasers in the $1.1 billion bond offering by leading Chilean natural gas provider GNL Quintero S.A.
Tags: Milbank LLP | New York
Baker Botts Represents Underwriters in $423 Million Initial Public Offering of VTTI Energy Partners LP
VTTI Energy Partners LP (NYSE: VTTI), a Marshall Islands limited partnership, completed its initial public offering of 20,125,000 common units (including 2,625,000 common units pursuant to the underwriters’ option to purchase additional common units). The common units were sold by VTTI MLP Partners B.V., a wholly-owned subsidiary of VTTI B.V.
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Kirkland Advises Qihoo 360 on US$900m Notes Offering
Kirkland represented Qihoo 360 Technology Co. Ltd. in connection with the offering of US$900 million of convertible senior notes. This was the largest-ever convertible bond issued by a US-listed Chinese technology company and the largest convertible bond in Asia in the last three years. The offering consisted of a private placement of US$450 million principal amount of convertible senior notes due 2020 and US$450 million principal amount of convertible senior notes due 2021, with a 30-day over-allotment option to buy an additional US$135 million of the notes.
Tags: Kirkland & Ellis LLPMilbank Represented Initial Purchaser in the $400M Offering of Notes by ContourGlobal Power Holdings S.A.
Milbank, Tweed, Hadley & McCloy LLP represented Goldman Sachs International, as sole initial purchaser, in the $400 million offering of Senior Secured Notes due 2019 by ContourGlobal Power Holdings S.A., a finance subsidiary of the parent ContourGlobal L.P.
The notes were secured by share pledges of certain existing and future subsidiaries of ContourGlobal L.P.
Tags: Milbank LLP
McGuireWoods Represents Special Committee of Pike Corporation in $595 Million ‘Going Private’ Transaction
A Charlotte-based team of McGuireWoods attorneys represented the Special Committee of the Board of Directors of Pike Corporation (NYSE: PIKE) in connection with the Special Committee’s negotiations and Pike’s entry into a merger agreement under which New York private equity firm Court Square Capital Partners and J. Eric Pike, Pike’s chairman and chief executive officer, will acquire Pike in a “going-private” transaction valued at approximately $595 million. At the effective time of the merger, each of Pike’s shareholders will receive $12 per share in cash, which represents a premium of approximately 50.8% over Pike’s closing price on Aug. 1, 2014, and a premium of approximately 39.6% over the 30-day volume-weighted average closing prices leading up to that date.
Tags: McGuireWoods LLP
Norton Rose Fulbright advises on US$787 million part financing for the procurement of four LNG vessels
Global legal practice Norton Rose Fulbright has advised a syndicate of lenders on four limited-recourse facilities totalling US$787 million to part finance the procurement of four 174,400m3 LNG vessels to be built by Hudong-Zhonghua in China.
Tags: Norton Rose Fulbright
Simpson Thacher Represents Underwriters in $250 Million Senior Notes Offering by Symetra Financial Corporation
Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, in an offering of $250 million in aggregate principal amount of 4.25% Senior Notes due 2024 by Symetra Financial Corporation (“Symetra”).
Proceeds from the offering are expected to be used for general corporate purposes, which may include but are not limited to working capital, capital expenditures, repayment of outstanding indebtedness, stock repurchases and dividends.
Tags: Simpson Thacher & Bartlett LLP