Global law firm White & Case LLP has advised Wind Telecomunicazioni S.p.A., a leading Italian telecoms operator, and its wholly-owned subsidiary Wind Acquisition Finance S.A. (WAF) on a corporate refinancing that includes a new €4 billion issuance by WAF of three tranches of senior secured bonds.
The deal also involved a simultaneous tender offer for outstanding securities of WAF to facilitate the transaction.
More >>
Cravath represented the initial purchasers, led by J.P. Morgan Securities, Citigroup, Goldman, Sachs & Co. and Morgan Stanley, in connection with the US$1.25 billion 144A/Reg. S high‑yield senior debt offering of RJS Power Holdings LLC, an independent power producer operating in the United States that sells electric energy, generating capacity and ancillary services on a wholesale basis. Cravath also represented J.P. Morgan Securities as sole lead arranger of the US$150 million senior secured revolving credit facility for RJS Power Holdings LLC. The transactions closed on July 10, 2014.
Davis Polk advised Morgan Stanley Senior Funding, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Fifth Third Bank and SunTrust Robinson Humphrey, Inc. as joint lead arrangers, Fifth Third Bank and SunTrust Bank as co-documentation agents and Morgan Stanley Senior Funding, Inc. as administrative agent and collateral agent in connection with $1 billion of senior secured credit facilities provided to two subsidiaries of Rovi Corporation. The facilities consist of a $125 million Term A facility, a $700 million Term B facility and a $175 million revolving facility. The obligations under the credit facilities are guaranteed by Rovi Corporation and all of its domestic, and certain of its foreign, subsidiaries and secured by substantially all of the assets of Rovi Corporation and the guarantors. The borrowers will use the proceeds of the credit facilities to refinance their existing term loan facilities and for general corporate purposes.
Herbert Smith Freehills’ London Private Equity team, has advised Antin Infrastructure Partners (“Antin”) on the completion of its first deal out of their recently closed Fund II, with the acquisition of BG Group’s majority stake in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure.
Under the terms of the acquisition agreement, Antin now owns a 62.78% interest in CATS. The consideration is up to £562 million (including a potential deferred amount of £39 million) and the deal closed on 10 July 2014.
Tags: Herbert Smith Freehills Kramer LLP
Kirkland & Ellis LLP represented Kinderhook Industries, LLC, a leading middle-market private equity firm, which recently closed its fourth private equity fund Kinderhook Capital Fund IV, L.P. After a twelve-week fund-raise, the fund closed at its hard cap with aggregate capital commitments of $500 million, above its initial target of $400 million. The fund, which will make value-oriented investments in the lower middle market, accepted commitments from a broad mix of investors, including leading domestic endowments, foundations, family offices, pensions and other institutional capital sources.
More >>
The Firm represented the underwriters, led by Merrill Lynch, Citigroup and Credit Suisse, in the offering of US$300 million principal amount of Zero Coupon Convertible Bonds (the “Bonds”) by Zhen Ding Technology Holding Limited (“Zhen Ding”). Zhen Ding is a leading designer and manufacturer of printed circuit boards to leading brand name customers. The common shares of Zhen Ding are traded on the Taiwan Stock Exchange under the trading code “4958”. The Bonds are listed on the Singapore Stock Exchange.
Shearman & Sterling advised on the bank and bond financing related to Actavis plc’s $28 billion acquisition of Forest Laboratories, Inc.
The firm advised Bank of America, as administrative agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Mizuho Bank, as joint lead arrangers and joint bookrunners, in the $4.4 billion bank financing for Actavis Capital s.à r.l., a wholly-owned subsidiary of Actavis plc, which included a $2.4 billion cash bridge loan and a $2.0 billion term loan.
Tags: Shearman & Sterling LLP
The Firm represented joint global coordinators, Merrill Lynch International and Guotai Junan Securities (Hong Kong) Limited in Colour Life Services Group Co., Limited’s initial public offering in Hong Kong and Regulation S offering of an aggregate of 250,000,000 ordinary shares, which raised approximately HK$945 million (approximately US$121.2 million) in gross proceeds. Colour Life Services Group Co., Limited is one of the leading property management companies in the PRC. Its ordinary shares are listed on the Hong Kong Stock Exchange.
More >>
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised BG Group plc affiliate Methane Services Ltd (“MSL”), on the US$930 million sale of six LNG carrier vessels to GasLog Ltd (“GasLog”).
The sale was completed via two deals, each involving three ships. The sale of the final three vessels to GasLog was completed at the end of June. This followed the previous sale of three vessels from MSL to GasLog, completed in April 2014.
More >>
