Cravath represented the underwriters, led by J.P. Morgan Securities, Goldman, Sachs & Co., BofA Merrill Lynch and Citigroup, in connection with the US$552 million registered common stock offering of CoStar Group, Inc., a leading provider of information and analytic services to the commercial real estate industry in the United States and the United Kingdom. The shares were listed on the NASDAQ Global Select Market. The transaction closed on June 11, 2014.
Freshfields advises London Stock Exchange Group on its $2.7bn acquisition of Russell Investments and its related rights issue
Leading international law firm, Freshfields Bruckhaus Deringer is advising London Stock Exchange Group plc (“LSEG”) on its $2.7bn acquisition of Russell Investments from Northwestern Mutual and on its related $1.6bn rights issue. The transaction represents a rare opportunity for LSEG to acquire a high quality US business with a leading global brand providing index and investment management services.
Tags: Freshfields LLP 
Goodwin Advises Dropcam in $555 Million Sale to Nest
A team of Goodwin Procter attorneys recently advised Dropcam in its $555 million sale to Nest Labs. Terms of the transaction were not disclosed.
Dropcam, founded in 2009 by Greg Duffy and Aamir Virani, is a cloud-based wifi video monitoring service with free live streaming, two-way talk and remote viewing capabilities. Its products are used for home security, baby monitors, pet monitors and small business security systems. The company is based in San Francisco, Calif.
Tags: Goodwin Procter LLP 
Linklaters advises on largest ever African debut sovereign bond
Linklaters has advised the underwriters on the Republic of Kenya’s debut international bond. The US$2 billion transaction is the largest debut bond issuance by an African sovereign issuer. The capital raising comprised two tranches of bonds: a $500m, five-year tranche paying an interest rate of 5.875 per cent, and a $1.5bn 10-year tranche with an interest rate of 6.875 per cent.
Tags: Linklaters LLP 
Paul Hastings Represents UBS AG in World Triathlon Corp. Financing
Paul Hastings LLP, a leading global law firm, announced today that the firm represented UBS AG, Stamford Branch as administrative agent, lender and issuing bank and UBS Securities LLC and Macquarie Capital (USA) Inc. as joint lead arrangers and joint bookrunners in connection with a recapitalization of World Triathlon Corporation, which owns and licenses the Ironman brand.
The financing consists of a $225 million term loan facility and a $20 million revolving credit facility.
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Milbank Advises Nabors Industries in $2.9B Spinoff of Oil Well Maintenance Unit and Merger with C&J Energy Services
Milbank, Tweed, Hadley & McCloy LLP is advising leading oil exploration and servicing company Nabors Industries Ltd. (NYSE: NBR) in the announced merger of its completion and production services unit with oilfield services provider C&J Energy Services (NYSE: CJES), for which Nabors will receive nearly $940 million in cash and stock worth an approximately 53% ownership stake in C&J.
The transaction, expected to close by the end of 2014, is valued at about $2.86 billion. The Milbank team representing Bermuda-based Nabors is led by New York-based Corporate partner Charles Conroy.
Tags: Milbank LLP
Simpson Thacher Represents the Underwriters in $2 Billion Notes Offering by Target Corporation
Simpson Thacher represented the underwriters, led by Barclays Capital Inc., Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with an offering by Target Corporation of $1,000,000,000 aggregate principal amount of 2.300% Notes due 2019 and $1,000,000,000 aggregate principal amount of 3.500% Notes due 2024. The proceeds of the notes offering will be used to pay for Target Corporation’s cash tender offers for up to a maximum aggregate purchase price of $1,000,000,000 of various series of its outstanding notes and debentures and for general corporate purposes.
Tags: Simpson Thacher & Bartlett LLP 
White & Case Advises Intesa Sanpaolo on Benchmark US$2 billion Subordinated Tier 2 Bond Issue
Global law firm White & Case LLP has advised Intesa Sanpaolo S.p.A. on a US$2 billion Tier 2 subordinated Yankee bond placed under its US$25 billion Medium Term Note Programme.
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Allen & Overy Advises on USD1 Billion 144A/Reg S hybrid bond offering by PTT Exploration and Production Public Company Limited
Allen & Overy has advised Bank of America Merrill Lynch, Credit Suisse, HSBC and J.P. Morgan, as joint bookrunners, on PTT Exploration and Production Public Company Limited’s corporate hybrid bond issuance, in what is reported to be the first USD hybrid issuance by a Thai corporate since 2006. The USD1 billion subordinated perpetual capital securities were offered in a combined Rule 144A/Regulation S transaction to institutional investors internationally. PTTEP is Thailand’s largest publically listed oil and natural gas explorer.
Tags: Allen & Overy LLP 
Crowell & Moring Represents Gulf Tubing Company in US$1 Billion Project to Build Seamless Tubing Manufacturing Plant in Saudi Arabia
Crowell & Moring LLP is representing Gulf Tubing Company, a Saudi company, as it enters into a binding exclusive memorandum of understanding (MOU) with international firms Larsen & Toubro Limited in India, SMS Meer GmbH in Germany, and Vitkovice Heavy Machinery in the Czech Republic, to develop and build a first of its kind US$1 billion seamless tube manufacturing plant in Ras Alkhair, Saudi Arabia.
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