Simpson Thatcher recently represented the underwriters led by Goldman Sachs (Asia) L.L.C. and Deutsche Bank Securities Inc. in connection with concurrent offerings by Vipshop Holdings Limited (“Vipshop”) of US$632.5 million aggregate principal amount of 1.50% Convertible Senior Notes due 2019 (the “Notes”)  (which includes $82.5 million aggregate principal amount of the Notes pursuant to the underwriters’ exercise of the over-allotment option) and 1,311,000 American depositary shares (the “ADSs”) (which includes 171,000 ADSs pursuant to the underwriters’ exercise of the over-allotment option), representing 2,622,000 ordinary shares, from certain shareholders of Vipshop for an aggregate of approximately US$188.4 million.

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King & Wood Mallesons SJ Berwin advised Climate Change Capital Private Equity LP and Climate Change Capital Private Equity Co-Investment LP on the sale of their entire stake in wastewater company Orège.

The two funds, managed by Climate Change Capital, owned 3,682,633 shares representing 5,676,920 voting rights, or 19.8% of the share capital in Orège and 22.4% of its voting rights. Their entire stake has been sold to Eren, the natural resource efficiency group, at a unit price of €4.20.

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Shearman & Sterling represented lead managers Bank of China (Hong Kong) Limited, Banco Bradesco BBI S.A., BB Securities Ltd., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC, all acting as joint bookrunners, and Banca IMI S.p.A. and Scotia Capital (USA) Inc., acting as co-managers, in connection with a shelf takedown consisting of $1,600,000,000 3.250% Global Notes Due 2017, $1,500,000,000 4.875% Global Notes Due 2020, $2,500,000,000 6.250% Global Notes Due 2024, $1,000,000,000 7.250% Global Notes Due 2044, $1,400,000,000 Floating Rate Global Notes Due 2017 and $500,000,000 Floating Rate Global Notes Due 2020 by Petrobras Global Finance B.V. The Global Notes will be unconditionally guaranteed by Petróleo Brasileiro S.A.—PETROBRAS.

The offering is one of the largest dollar bond sales this year to date, and one of a number of financings completed by Shearman & Sterling as Petrobras’ longstanding underwriters counsel.

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Cadwalader, Wickersham & Taft LLP, a leading counselor to global corporations and financial institutions, today announced that it advised Mercuria Energy Group Limited, a global energy and commodities trading company, on its acquisition of J.P. Morgan’s physical energy and commodities business for $3.5 billion.

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Milbank, Tweed, Hadley & McCloy represented the administrative agent and lead arrangers in a $600 million five-year term loan to Argos USA Corp., a U.S. subsidiary of Cementos Argos SA, a Medellín, Colombia-based producer of concrete and other construction materials.

One of the largest bank financings so far this year for a Colombian company, the loan finances a substantial portion of Argos’s acquisition of the Florida cement and concrete business of Alabama-based Vulcan Materials. Vulcan is the largest U.S. supplier of construction aggregate – e.g., gravel, sand, crushed stone and other components of concrete and asphalt.

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Shearman & Sterling represented Grupo Isolux Corsán, S.A. (“Isolux Corsán”) in the inaugural High Yield bond offering of €600 million 6.625% Senior Notes due 2021 by Isolux Corsán’s wholly owned subsidiary, Grupo Isolux Corsán Finance B.V. The net proceeds from the issue and sale of the Notes will be used to repay existing indebtedness and for general corporate purposes. The Notes are guaranteed on a senior unsecured basis by Isolux Corsán and certain of its subsidiaries. The offering, which was conducted pursuant to Rule 144A and Regulation S under the US Securities Act, closed on March 20, 2014.

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King & Wood Mallesons has advised Credit Suisse as sole book-running manager and Westpac Banking Corporation as lead manager on the Australian law aspects of a US$335 million high-yield senior secured notes issue by Emeco Pty Ltd.

The 9.875% senior secured notes due in 2019 were offered to qualified institutional buyers in the United States under Rule 144A and certain persons outside the United States in offshore jurisdictions under Regulation S.

Proceeds from the bonds will be used to repay existing US private placement debt and Australian senior bank debt of the Emeco group.

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Shearman & Sterling advised Citigroup Global Markets Inc., BNP Paribas Securities Corp., Evercore Group LLC, Global Hunter Securities, LLC and Pareto Securities AS, as initial purchasers, in the inaugural High Yield notes offering by Global Ship Lease, Inc. (“Global Ship Lease”) of $420 million 10.000% First Priority Secured Notes due 2019. The notes are guaranteed on a senior basis by Global Ship Lease Services Limited and each of Global Ship Lease’s 17 vessel-owning subsidiaries. Global Ship Lease intends to use the net proceeds of the offering – primarily to repay existing indebtedness, to terminate its existing interest rate swap agreements and for general corporate purposes.

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International law firm, Osborne Clarke has advised the syndicate of institutional investors, who included Imperial Innovations and Invesco Perpetual on the £581m flotation of Circassia on the London Main Market.

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