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 >>
Tags: Freshfields LLP
Herbert Smith Freehills advises PTTEP Canada on its Kai Kos Dehseh Oil Sands Project
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).
Tags: Herbert Smith Freehills Kramer LLP
Simpson Thacher Represents JPMorgan in Refinancing of Philip Morris International Inc.’s $2.5 Billion Revolving Credit Facility
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.
Tags: Simpson Thacher & Bartlett LLP
Shearman & Sterling Advises SafeNet in its Dividend Recapitalization
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 advises SCOR on £5 billion pension scheme longevity swap
King & Spalding Leads On £280.8 Million Eddie Stobart Sale
King & Spalding is representing private equity firm DouglasBay Capital (DBAY) in relation to the £280.8 million purchase of a majority holding in leading UK transport and infrastructure brand Eddie Stobart Logistics.
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Paul Hastings Represents Underwriters in Poly Cultural Group’s US$331 Million H-share Listing
Paul Hastings, a leading global law firm, announced today that the firm represented CITIC Securities Corporate Finance (HK) Limited as the sole sponsor and CLSA Limited as the sole global coordinator, bookrunner and lead manager in Poly Cultural Group Corporation Limited’s (“Poly Cultural Group”) US$331 million global offering and listing of its H-shares on the Main Board of the Hong Kong Stock Exchange. More >>
Tags: Paul Hastings, LLPShearman & Sterling Advises Arrangers in $1.567 Billion Refinancing for J. Crew Group Inc.
Shearman & Sterling advised Bank of America, N.A. and Goldman Sachs Bank USA, as joint lead arrangers and joint bookrunners in connection with a $1.567 billion refinancing for J. Crew Group Inc., the retailer owned by TPG Capital and Leonard Green & Partners LP.
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Sidley Austin Llp Advised Munich Re On £5 Billion Pension Scheme Longevity Swap
Sidley advised Munich Re on a reinsurance deal with Aviva Life & Pensions UK Ltd to cover longevity liabilities relating to the Aviva Staff Pension Scheme. The transaction is the largest UK pension scheme longevity swap to date. It covers 19,000 lives, with approximately £5 billion of liabilities.
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Clifford Chance Advises Carlyle on Acquisition of ADT Korea from Tyco for US$1.93 Billion
Leading international law firm Clifford Chance is advising The Carlyle Group on its acquisition of Tyco Fire & Security Services Korea Co. Ltd. and its subsidiaries (ADT Caps Co., Ltd., Capstec Co., Ltd. and ADT Security Co., Ltd.) that form and operate the company’s Korean security business (“ADT Korea”), from US-listed Tyco, the world’s largest pure-play fire protection and security company, for approximately US$1.93 billion. The transaction is the largest private equity buyout deal in US dollar value in Korea since 2008 and subject to regulatory approval, is expected to close in the second quarter of 2014.
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