Hunton & Williams (Thailand) Limited advised Krung Thai Bank PCL on its recent 35 billion baht (USD1.2 billion) rights offering. Krung Thai Bank (KTB:Bangkok) is the largest state-owned financial institution in Thailand. KTB’s first capital increase in 13 years and the largest ever by a Thai corporation, the share offering was the first by a Thai bank, or by any Thai issuer, under Rule 801 of the U.S. Securities Laws. It was successfully subscribed in full by the bank’s existing shareholders.

More >>

OneBeacon Insurance Group recently announced it will sell its runoff business to an affiliate of Bermuda-based Armour Group Holdings Ltd. for around $107 million, subject to regulatory approval. Certain legal entities will be transferred to Armour from OneBeacon including assets, liabilities and capital supporting the run-off business as well as certain elements of the runoff business infrastructure which includes staff and office space. As of September 30, 2012, the gross reserves associated with OneBeacon’s run-off business were in excess of $2.2 billion.

More >>

International law firm Herbert Smith Freehills announced today that in early 2013 it will be opening an office in Conakry, the capital of Guinea in West Africa.

More >>

Davis Polk advised Oracle Corporation on its SEC-registered debt offering of $2.5 billion aggregate principal amount of 1.2% notes due 2017 and $2.5 billion aggregate principal amount of 2.5% notes due 2022. Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBS Securities Inc. and Wells Fargo Securities, LLC were the lead joint book-running managers.

More >>