Shearman & Sterling represented The Royal Bank of Scotland, Lloyds Bank and Barclays as Joint Global Coordinators and Joint Bookrunners, on an offering of £225,000,000 5.25% Senior Notes due 2021 by Debenhams plc. The net proceeds from the issuance will be used to refinance Debenhams’ outstanding indebtedness under its existing senior credit facility. The offering, which was conducted pursuant to Regulation S under the US Securities Act, closed on July 2, 2014.

More >>

Skadden is advising U.S.-based gaming machine provider Video Gaming Technologies, Inc. in its $1.3 billion acquisition by Australia-based gaming product and service provider Aristocrat Leisure Limited, announced July 7.
More >>

International law firm Freshfields Bruckhaus Deringer has advised a consortium of underwriters on a US$421m rights issue for Uni-President China Holdings Limited (Uni-President).

The new issue, comprised of 3,599,445,000 shares at a price of HK$4.56 per share, commenced trading on the Hong Kong Stock Exchange on 25 June 2014.

More >>

The scheme is subject to customary conditions precedent including Wotif Group shareholder approval and court approval. If the scheme is implemented, Wotif Group shareholders will receive cash consideration. The offer is valued at approximately $703 million.

More >>

NautaDutilh advised Partners Group which invested US$750 million in Fermaca in February 2014. The bond offering was used to pay back a US$140 million loan connected to Partners Group’s acquisition of Fermaca, as well as a loan taken out by a Fermaca subsidiary that operates a 381 km natural gas pipeline.

More >>

Paul Hastings LLP, a leading global firm, announced today that it advised Citigroup Global Markets Limited, Raiffeisen Bank, and Société Générale Corporate and Investment Banking, as joint global coordinators and joint bookrunners, on the €444.3 million initial public offering of Romania’s leading state-owned electricity distributor and supplier, Electrica S.A. The offering, which closed on Friday 4 July, is the largest ever Romanian IPO, valuing the company at €900 million.

More >>

Allen & Overy has advised ING and NN Group on the initial public offering of up to 77 million ordinary shares of NN Group through ING (the Selling Shareholder). This includes the exchange into NN Group shares of EUR 450 million of mandatorily subordinated notes and excluding the exercise of the over-allotment option, gross proceeds to ING at settlement of the IPO amount to approximately EUR 2.0 billion.

More >>

Simpson Thacher represented Duff & Phelps Select Energy MLP Fund Inc. (the “Fund”) in connection with its $485 million initial public offering of common stock. The Fund is a newly organized, non-diversified, closed-end management investment company which trades on the New York Stock Exchange under the symbol “DSE”. The underwriting syndicate for the offering was led by Morgan Stanley & Co. LLC and Wells Fargo Securities LLC. 
More >>

Shearman & Sterling represented STMicroelectronics on its US$1 billion dual-tranche convertible bond offering which closed on July 3, 2014. The senior unsecured convertible bonds are convertible into ordinary shares of STMicroelectronics and are listed on the Open Market (Freiverkehr) segment of the Frankfurt Stock Exchange. The bonds were issued in two tranches of US$600,000,000 zero coupon convertible bonds due 2019 and US$400,000,000 1.00% convertible bonds due 2021.

More >>