KWM acts for winning consortium on $1.75bn Port of Newcastle privatisation

KWM, led by our Infrastructure leader Mark Upfold, has advised a consortium comprising China Merchants and Australia’s Hastings Fund Management on their successful bid for the long-term lease of the Port of Newcastle following a highly competitive five-month auction process. Hastings’ investment is being made by The Private Capital Group’s The Infrastructure Fund which is managed by Hastings.

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Tags:  King & Wood Mallesons

Kirkland & Ellis Represents Exelon in Pepco Acquisition

Kirkland & Ellis LLP represents Exelon Corporation (NYSE: EXC), which today announced it signed a definitive agreement to acquire Pepco Holdings Inc. (NYSE: PHI), in an all-cash transaction consideration of $27.25 per share. The agreement brings together Exelon’s three top-performing electric and gas utilities – BGE, ComEd and PECO – and Pepco Holdings’ electric and gas utilities – Pepco, Atlantic City Electric and Delmarva Power – to create the leading Mid-Atlantic electric and gas utility. More >>

Tags:  Kirkland & Ellis LLP

Cahill Represents Lead Arrangers in $650 Million Amended and Restated Credit Facility for Res-Care, Inc.

Cahill represented Bank of America as administrative agent and BofA Merrill Lynch, J.P. Morgan and RBC Capital Markets as lead arrangers in connection with a $650,000,000 amended and restated credit facility, comprised of a new $200,000,000 term A loan, a $250,000,000 revolving credit facility, and a new committed delayed draw term loan of up to $200,000,000, for Res-Care, Inc., which is the nation’s largest provider of services to people with disabilities and the largest privately-owned home care company. Proceeds from the facility will be used to pay a dividend, refinance existing indebtedness and for general corporate purposes. More >>

Tags:  Cahill Gordon & Reindel LLP

Cadwalader Advises Global Financial Institution on $200 Million Multi-Currency Loan Deal

Cadwalader, Wickersham & Taft LLP, a counselor to corporations and financial institutions, advised a leading global financial institution on its recent $200 million, tranched, multi-currency revolving loan facility to an affiliate of Callidus Capital Corporation. The facility become effective concurrently with a restructuring of Callidus’ existing term debt and an initial public offering of 18,000,000 common shares of Callidus at a price of $14.00 per common share for aggregate gross proceeds of $252 million.

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Tags:  Cadwalader, Wickersham & Taft LLP

Akin Gump Advises El Paso Partners Conflicts Committee in $2 Billion Kinder Morgan Deal

Akin Gump advised the conflicts committee of El Paso Pipeline Partners, L.P.’s (EPB) general partner, El Paso Pipeline GP Co. LLC, in a deal in which EPB said it will acquire Kinder Morgan, Inc.’s 50 percent stake in Ruby Pipeline, 50 percent stake in Gulf LNG and 47.5 percent stake in Young Gas Storage. The transaction is valued at approximately $2 billion, including $1.012 billion of proportionate debt at Ruby and Gulf LNG, resulting in an equity purchase price of $972 million.

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Tags:  Akin Gump Strauss Hauer & Feld LLP

Baker Botts Represents EQT Corporation in $1.18 Billion Sale of Jupiter Gas Gathering System

EQT Corporation (NYSE: EQT) today announced that EQT Midstream Partners, LP (NYSE: EQM) (Partnership) has agreed to acquire EQT’s Jupiter natural gas gathering system (Jupiter) for $1.18 billion. EQT will receive $1.12 billion of cash and $59 million of common and general partner units. The Jupiter system gathers EQT’s Marcellus production in portions of Greene and Washington Counties, Pennsylvania, and consists of approximately 35 miles of natural gas gathering pipeline and approximately 21,300 horsepower of compression. Jupiter has a total of 970 MMcf per day of pipeline capacity and six interconnects with the Partnership’s transmission and storage systems.

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Tags:  Baker Botts L.L.P. | Austin

Mayer Brown JSM advises Sinochem Offshore Capital Company on US$500 million bond offering

Mayer Brown JSM today announced that it advised Sinochem Offshore Capital Company Limited in connection with the establishment of its US$1,000,000,000 Medium Term Note Programme, guaranteed by Sinochem Hong Kong (Group) Limited, and its initial takedown of US$500 million 3.25 percent Senior Notes due 2019. The investment grade notes were listed on the Hong Kong Stock Exchange and the proceeds will be used for general corporate purposes.

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Tags:  Mayer Brown LLP