Global law firm Proskauer advised Lexington Partners on the closing of Lexington Middle Market Investors III, L.P. with $1.05 billion in commitments. The fund is focused on making U.S. growth capital, small and middle market investments through secondary market acquisitions.
Shearman & Sterling Advises on Banca Carige’s €800 Million Rights Issue
Shearman & Sterling acted as counsel to Banca Carige – Cassa di Risparmio di Genova e Imperia (Banca Carige) in connection with its €800 million rights issue. Mediobanca is acting as global coordinator; Citigroup, Credit Suisse, Deutsche Bank, and UniCredit are acting as co-global coordinators; Commerzbank, Nomura, and Santander are acting, together with the global coordinator and the co-global coordinators, as joint bookrunners; and Banca Akros, Banca Aletti, and Intermonte SIM are acting as co-lead managers on this transaction.
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Simpson Thacher Represents Underwriters in Connection with Oracle’s $10 Billion Investment-Grade Note Offerings
Simpson Thacher represented the underwriters, led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC, in connection with the registered public offering by Oracle Corporation of $1 billion aggregate principal amount of senior floating rate notes due 2017, $750 million aggregate principal amount of senior floating rate notes due 2019, $2 billion aggregate principal amount of 2.250% senior notes due 2019, $1.5 billion aggregate principal amount of 2.800% senior notes due 2021, $2 billion aggregate principal amount of 3.400% senior notes due 2024, $1.75 billion aggregate principal amount of 4.300% senior notes due 2034, and $1.0 billion aggregate principal amount of 4.500% senior notes due 2044.
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Freshfields advises on the Republic of Bulgaria’s Sovereign Bond issue
International law firm Freshfields Bruckhaus Deringer has advised Citigroup, HSBC and J.P. Morgan in relation to the issue by the Republic of Bulgaria of EUR 1,493 million 2.95% Notes due 2024.
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Allen & Overy advises on a jumbo USD 1.3bn prepayment facility in favour of Glencore Energy UK Ltd.
Allen & Overy has acted for the lenders on a jumbo USD 1.3bn prepayment facility in favour of Glencore Energy UK Ltd for advance payments for crude oil purchases from the national oil company of the Republic of Chad, Société des Hydrocarbures du Tchad (SHT).
Facility proceeds were applied by SHT, for the purposes of financing SHT’s acquisition of Chevron’s upstream and midstream oil and gas assets in the Republic of Chad. The acquired assets include a 25 per cent stake in seven fields in the Doba basin (operated by ExxonMobil) and a 21 per cent stake in the 1,070km Chad-Cameroon oil pipeline.
Lenders include Africa Finance Corporation, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, ING, First Bank of Nigeria, Natixis and Société Générale.
Adrian Mellor, Partner and head of the banking & finance department at Allen & Overy Paris, commented: “this deal continues the growing but still recent trend of using jumbo prepayment facilities as a source of financing in the oil and gas sector”.
The deal has been described in the Financial Times as “transformational” for the Republic of Chad and SHT.
The Allen & Overy team was led from Paris and comprised partner Adrian Mellor, senior associate Tom Longmuir and associates Benjamin Marché and Tristan Jambu-Merlin, with Tax support from partner Vimal Tilakapala in London and Regulatory support from partner Ken Rivlin and senior associate Allie Cheatham in New York.
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Cahill Represents Initial Purchasers in Multicurrency Note Offering by Ardagh
Cahill represented Citigroup and Deutsche Bank Securities as joint book-running managers in connection with the Rule 144A offering of €1,155,000,000 aggregate principal amount of 4.250% First Priority Senior Secured Notes due 2022, $1,110,000,000 aggregate principal amount of First Priority Senior Secured Notes due 2019, and $440,000,000 aggregate principal amount of 6% Senior Notes due 2021 by Ardagh Packaging Finance plc/Ardagh Holdings USA Inc. Proceeds were used to refinance existing indebtedness.
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INEOS Group Holdings S.A.’s High-Yield Senior Debt Offering
Cravath represented INEOS Group Holdings S.A. in connection with its €600 million and US$590 million 144A/Reg. S high‑yield senior debt offering, guaranteed by INEOS Luxembourg S.A., INEOS Holdings Limited and certain of their subsidiaries. INEOS is one of the world’s largest chemical companies and has highly integrated, world‑class chemical facilities and production technologies. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on February 18, 2014.
Dentons acts for lenders in €215 million refinancing of P3 logistics portfolio in CEE
FaegreBD Represents Spectranetics in Acquisition of AngioScore Inc.
Faegre Baker Daniels represented The Spectranetics Corporation, a Colorado Springs-based medical device company, in acquiring AngioScore Inc. in a $230 million cash purchase, along with contingent commercial and regulatory milestone payments. The transaction closed June 30, and was funded with the proceeds from a $230 million public offering of convertible notes.
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Shearman & Sterling Advises on Medtronic’s Acquisition of Covidien
Shearman & Sterling advised Bank of America, N.A., as administrative agent, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as sole lead arranger, in connection with the $16.3 billion senior unsecured bridge financing raised by Medtronic, Inc. to finance its acquisition of Covidien plc. The financing included a $13.5 billion senior unsecured bridge loan and a $2.8 billion senior unsecured bridge loan.
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