Herbert Smith Freehills Advised on over US$780 Million Worth of New Real Estate Financings

Wednesday, September 11, 2013

Earlier this year, Hong Kong property developer and long-standing client of the firm, Wing Tai Properties Limited, engaged Herbert Smith Freehills for advice on a US$464 million (HK$3.6 billion) financing deal for the development of a 318,076 sqft. residential development in Sha Tin, New Territories, Hong Kong. Following the successful closing of that transaction in March, the firm was again instructed to advise on another of the developer’s financing transaction—a US$224 million (HK$1.74 billion) financing for a plot of land adjacent to the client’s initial purchase in Sha Tin.  The lender on both transactions—Bank of China (Hong Kong) Limited—was advised by Mayer Brown JSM.

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Tags:  Herbert Smith Freehills Kramer LLP | Hong Kong

Cahill Represents Underwriters in $750 Million Public Offering by Ally Financial

Wednesday, September 11, 2013

Cahill represented BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, and RBC Capital Markets as joint book-running managers and the co-managers in connection with the public offering of $750,000,000 aggregate principal amount of 4.75% Senior Guaranteed Notes due 2018 by Ally Financial Inc. Proceeds from the offering will be used to redeem certain outstanding debt securities.

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Tags:  Cahill Gordon & Reindel LLP | New York

Ogletree Deakins Opens London Office, Drives International Expansion

Wednesday, September 11, 2013

Ogletree, Deakins, Nash, Smoak & Stewart, P.C. (Ogletree Deakins), one of the largest labor and employment law firms representing management, is pleased to announce that it is expanding its international platform by opening an office in London, England. The London office joins Ogletree Deakins’ network of more than 650 lawyers in 45 offices throughout the United States and in Europe. The London office represents the next phase in the firm’s international strategy, as part of its vision to be the premier global labor and employment law firm. The firm’s international expansion began with the opening of its Berlin office in December 2012 and the firm expects to continue its growth globally.

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Tags:  Ogletree Deakins

Clifford Chance Advises on a USD 3.30bn Financing for Dangote Industries Limited

Wednesday, September 11, 2013

International law firm Clifford Chance has advised Dangote Industries Limited, as borrower, on a USD 3.30 billion financing. The proceeds of the financing will be used for the planning, development and construction of a greenfield fertilizer manufacturing plant and a greenfield crude oil refinery plant. The plants are to be constructed in the Olokola Free Trade Zone in Nigeria, at a combined development cost of USD 9 billion. It will be the largest industrial complex project in the history of Nigeria.

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Tags:  Clifford Chance LLP

Simpson Thacher Represents GSO Capital Partners LP in Establishing $5 Billion Capital Solutions Fund

Tuesday, September 10, 2013

Simpson Thacher represented GSO Capital Partners LP (“GSO”), the credit division of The Blackstone Group L.P. (NYSE: BX), in the establishment of its second “capital solutions” fund, GSO Capital Solutions Fund II LP (“GSO CSF II”).  GSO CSF II raised $5 billion of total capital commitments and will focus primarily on providing “rescue financing” to distressed companies primarily in North America and Western Europe.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Milbank – Vueling US$5.4 Billion Purchase of New Fleet From Airbus

Tuesday, September 10, 2013

Vueling has signed the purchase agreement for the purchase of 62 narrow-body passenger jets with a total value of US$5.4 billion, as well as options to purchase a further 58 aircraft from Airbus.  The new aircraft will replace some older aircraft in the fleet as well as expand the fleet numbers overall.  Milbank advised Vueling on the transaction, with the team led out of London by Transportation & Space Group senior associate Jo Syrett.

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Tags:  Milbank LLP