Goodwin Advises Dropcam in $555 Million Sale to Nest

Friday, June 27, 2014
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.

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Linklaters advises on largest ever African debut sovereign bond

Friday, June 27, 2014
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.

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Paul Hastings Represents UBS AG in World Triathlon Corp. Financing

Friday, June 27, 2014

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

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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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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