Milbank Advises Nabors Industries in $2.9B Spinoff of Oil Well Maintenance Unit and Merger with C&J Energy Services

Friday, June 27, 2014

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.

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Tags:  Milbank LLP

Simpson Thacher Represents the Underwriters in $2 Billion Notes Offering by Target Corporation

Friday, June 27, 2014
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.

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Allen & Overy Advises on USD1 Billion 144A/Reg S hybrid bond offering by PTT Exploration and Production Public Company Limited

Thursday, June 26, 2014
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.

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Crowell & Moring Represents Gulf Tubing Company in US$1 Billion Project to Build Seamless Tubing Manufacturing Plant in Saudi Arabia

Thursday, June 26, 2014

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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Hess Corporation $600 Million Notes Offering

Thursday, June 26, 2014

Davis Polk advised J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBS Securities Inc., BNP Paribas Securities Corp. and Goldman, Sachs & Co. as joint book-running managers on an SEC-registered offering by Hess Corporation of $300 million principal amount of 1.30% notes due 2017 and $300 million principal amount of 3.50% notes due 2024.

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Nabarro advises Land Securities on £656m Bluewater acquisition

Thursday, June 26, 2014

Nabarro has played a central role in advising Land Securities on its £656m acquisition from Lend Lease of a 30% stake in Bluewater, the iconic, Kent shopping centre. In addition, Land Securities has acquired the asset management rights for the centre and 110 acres of surrounding land.

Bluewater is the UK’s prime retail mall outside London attracting 27 million visitors a year in one of the most affluent areas of the country. The centre totals 1.8 million sq. ft. and is home to over 330 retailers, cafes, bars and restaurants and includes 13,000 parking spaces.

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Paul Hastings Advises Sino-Ocean Land on US$800 Million Multi-currency Syndicated Loan Facility

Thursday, June 26, 2014

Paul Hastings, a leading global law firm, announced today that the firm advised Sino-Ocean Land Holdings Limited (“Sino-Ocean Land”), one of the largest real estate companies in China, whose shares are listed on the Hong Kong Stock Exchange, on a 3-year multi-currency term loan facility in the principal amount of approximately US$800 million-equivalent, with US dollar and HK dollar tranches.
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Appleby Advised Cosmo Lady on its Hong Kong Listing

Thursday, June 26, 2014

Appleby acted as Cayman counsel for Cosmo Lady (China) Holdings Limited (Cosmo Lady) in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 26 June, with gross proceeds of approximately HK$1.56 billion. Cosmo Lady will use the majority of the net proceeds from the global offering for expansion of its retail network, as well as establishment of three logistics centers in Dongguan, Tianjin and Chongqing in China.

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Tags:  Appleby | Hong Kong