Global law firm White & Case LLP has acted for Qatar Holding LLC (“QH”), the direct and strategic investment arm of the Qatar Investment Authority, on two recent transactions including QH’s acquisition of a stake in media investment company The Chernin Group (“TGC”) and the establishment of an asset management joint venture between QH and Credit Suisse.
Tags: White & Case LLP | New York
Herbert Smith Freehills investment funds team has advised J.P. Morgan Cazenove as sponsor and global coordinator on the launch of BACIT Limited – Battle Against Cancer Investment Trust – and its £200 million IPO on the Main Market of the London Stock Exchange.
Tags: Herbert Smith Freehills LLP
Bracewell & Giuliani LLP represented Evercore Partners, advisor to Targa Resources Partners LP, regarding Targa Resources Partners’ acquisition of 100% of Saddle Butte Pipeline, LLC’s ownership of its Williston Basin crude oil pipeline and terminal system and its natural gas gathering and processing operations for cash consideration of $950 million, subject to customary purchase price adjustments and certain contingent payments.
Tags: Bracewell LLP | Houston
Simpson Thacher represented Sears Holdings Corporation (Sears Holdings) in the spin-off of approximately 44.5% of the common shares of Sears Canada Inc. (Sears Canada) on a pro rata basis to holders of Sears Holdings common stock. Sears Holdings will retain an ownership interest of approximately 51% in Sears Canada. The distribution was made on November 13, 2012 with a value of approximately $565 million. Sears Holdings is a broadline retailer with 2,172 full-line and 1,338 specialty retail stores in the United States operating through Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. Sears Canada is a multiline retailer with 487 full-line and specialty retail stores in Canada.
Tags: Simpson Thacher & Bartlett LLPSimpson Thacher recently represented Aeropuertos Dominicanos Siglo XXI (Aerodom), which is controlled by affiliates of private equity firm Advent International, in the offering of $550 million aggregate principal amount of 9.250% Senior Secured Notes due 2019. The notes are unconditionally guaranteed by Latin American Airports Holdings Ltd. (LAAH), Aerodom’s parent, and other intermediate holding companies. This offering represents the largest ever bond transaction by a Dominican corporate issuer.
Tags: Simpson Thacher & Bartlett LLP | New YorkSimpson Thacher recently represented Credit Suisse (Hong Kong) Limited and Morgan Stanley Asia Limited as joint placement agents in connection with the private placement of convertible preference shares by Alibaba Group Holding Limited, which raised approximately $1.8 billion. The placement of convertible preference shares was part of a financing package that is the largest private financing for a private sector Chinese company, and the largest ever non-LBO private financing for a technology company globally.
Tags: Simpson Thacher & Bartlett LLP | Hong Kong
International law firm Norton Rose has advised KfW IPEX-Bank GmbH, the international project and export finance bank, on debt funding provided to Barclays Infrastructure Funds (BIF) for the acquisition of Black Hill Wind Farm.
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The London, Frankfurt and New York offices of Sidley Austin LLP have advised the global coordinators, Bank of America Merrill Lynch and HSBC, on the issuance of the $1 billion public sector Pfandbriefe (covered bond) from Norddeutsche Landesbank Girozentrale (Nord/LB), the first time a German Bank has issued a covered bond to U.S. institutional investors pursuant to Rule 144A under the U.S. Securities Act in a number of years.
Tags: Sidley Austin LLPChadbourne represented J.P. Morgan as sole initial purchaser in connection with a $550 million senior secured bond offering for Aeropuertos Dominicanos Siglo XXI, S.A., the principal airport concessionaire in the Dominican Republic. The bonds are guaranteed by Latin American Airports Holdings Ltd., a Bermuda company whose other principal subsidiary is Imobiliaria Fumisa, S.A. de C.V., a Mexican company that owns the master lease at the Mexico City airport’s Terminal 1, as well as certain of its subsidiaries. Latin American Airports Holdings Ltd. is 86% owned by funds managed by affiliates of Advent International, one of the world’s leading private equity firms.
Tags: New York
Shearman & Sterling represented Morgan Stanley & Co. LLC (Global Coordinator), Barclays Capital Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as representatives of the initial purchasers in connection with AbbVie Inc.’s Rule 144A offering of $14.7 billion of senior notes in six tranches (including a tranche sold primarily by Morgan Stanley, as selling noteholder, in connection with a debt for debt exchange with Abbott), representing the largest-ever dollar-denominated debt issue in the high-grade market. Following several months of preparation, the deal was executed in a single day on Monday November 5, 2012 following a week of financial market disruption associated with Hurricane Sandy.
Tags: Shearman & Sterling LLP | New York