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Dechert D.C.-based partners Paul T. Denis and James A. Fishkin are providing antitrust counsel to Albertsons in its proposed merger with Safeway that was announced today. The transaction values Safeway at over $9 billion.

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Skadden is representing the special committee of the managing member of Caesars Growth Partners, a joint venture partly owned by Caesars Entertainment Corp., in Caesars Entertainment’s $2 billion sale of four casino properties to the joint venture, announced on March 4.  More >>

A Weil team, led by New York partners Morgan Bale and Matthew Bloch, advised Morgan Stanley in connection with providing $1.9 billion of committed bridge financing (and related matters) backing UIL Holdings Corporation’s acquisition of Philadelphia Gas Works, the nation’s largest municipally-owned natural gas utility, from the City of Philadelphia for $1.86 billion. The acquisition is subject to approval by the Philadelphia City Council and state regulators and is expected to close in the first quarter of 2015. More >>

Leading international law firm Clifford Chance has advised Jingneng Investment Group Co., Limited on the issue of US$300,000,000 2.75% credit enhanced bonds due 2017 with the benefit of a keepwell deed provided by Beijing Energy Investment Holding Co., Ltd and an irrevocable standby letter of credit provided by Agricultural Bank of China Limited, Beijing Branch.

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International law firm Freshfields Bruckhaus Deringer has advised China CITIC Bank Corporation Limited (CITIC) on its RMB1,500,000,000 (US$245m) inaugural offshore bond issue. More >>

Herbert Smith Freehills London energy team has advised PTTEP Canada Limited (PTTEPCA), a wholly-owned subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), as international legal counsel on PTTEPCA signing an agreement with Statoil Canada Limited (SCL) to restructure the ownership of the five areas of the Canada Oil Sands Kai Kos Dehseh Project (KKD Project) in Athabasca, Alberta, Canada.

At closing of the transaction, PTTEPCA will directly own and operate 100% of the Thornbury, Hangingstone and South Leismer areas (THSL) and receive cash of US$200 million plus the additional amount calculated from a working capital adjustment relating to expenditures and revenues of KKD Project from January 1, 2013 until the closing date (approximately equivalent to US$235 million as at December 31, 2013), while SCL will own 100% of the Leismer and Corner areas (LC).

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Simpson Thacher recently represented the arrangers, led by J.P. Morgan Europe Limited and JPMorgan Chase Bank, N.A., as facility agent and swingline agent, respectively, in connection with the refinancing of Philip Morris International Inc.’s $2.5 billion revolving credit facility, extending its maturity to February 2019.

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Shearman & Sterling advised SafeNet, a Vector Capital portfolio company, in its $255 million dividend recapitalization of its first and second lien credit facilities arranged by Bank of America Merrill Lynch and Deutsche Bank Securities Inc.

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CMS in London has successfully acted for SCOR SE in the £5 billion reinsurance of Aviva Staff Pension Scheme, a pension fund of Aviva Life & Pensions UK Ltd, in what is the largest pension longevity swap to date.

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