Herbert Smith Freehills Advises CNOOC on Its Heads of Agreement to Acquire QCLNG Stake and New LNG Supply

Monday, November 12, 2012

Herbert Smith Freehills has recently advised China National Offshore Oil Corporation (CNOOC) on its entry into a Heads of Agreement (HOA) with BG Group for the acquisition of major interests in the Queensland Curtis LNG (QCLNG) project in Australia for $1.93 billion and the sale of liquefied natural gas (LNG) from BG Group’s global LNG portfolio. Fully-termed transaction agreements are expected to be executed in the first half of 2013, and upon closing, CNOOC will reimburse BG Group for its share of QCLNG project capital expenditures incurred from 1 January 2012.

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Tags:  Herbert Smith Freehills Kramer LLP | Hong Kong

Herbert Smith Freehills Advises United Breweries on the Disposal of a £1.2 Billion Stake in United Spirits to Diageo

Monday, November 12, 2012

Herbert Smith Freehills is advising United Breweries (Holdings) Limited, (UBHL) on the sale of a 19.3% interest in United Spirit’s Limited’s (USL) share capital, to Diageo plc (Diageo), which was announced on 9 November 2012. The Herbert Smith Freehills team worked very closely with a team led by Cyril Shroff and Nivedita Rao of Amarchand and Mangaldas & Suresh A. Shroff & Co.

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Tags:  Herbert Smith Freehills Kramer LLP

Shearman & Sterling Advises on Petrobras Global Finance B.V.’s Shelf Takedown of Investment Grade Global Notes

Monday, November 12, 2012

Shearman & Sterling represented lead managers Banco Santander, S.A., BB Securities Limited, Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, HSBC Bank plc, J.P. Morgan Securities plc, all acting as joint bookrunners, and Mitsubishi UFJ Securities International plc and Standard Charter Bank, acting as co-managers, in connection with a shelf takedown consisting of €1,300,000,000 3.25% Global Notes due 2019, €700,000,000 4.25% Global Notes due 2023 and £450,000,000 5.375% Global Notes due 2029 by Petrobras Global Finance B.V. (PGF). The Global Notes will be unconditionally guaranteed by Petróleo Brasileiro S.A.—PETROBRAS.

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Tags:  Shearman & Sterling LLP | Sao Paulo

Shearman & Sterling Represents Underwriters on Bank of Montreal’s $2 Billion Medium-Term Notes Offering

Monday, November 12, 2012

Shearman & Sterling represented BMO Capital Markets Corp., Morgan Stanley & Co. LLC, Barclays Capital Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC as lead underwriters in connection with Bank of Montreal’s registered public offering of $1.0 billion aggregate principal amount of 0.80% Senior Notes due 2015 and $1.0 billion aggregate principal amount of 2.55% Senior Notes due 2022 under its US medium-term note program.

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Tags:  Shearman & Sterling LLP | New York

Shearman & Sterling Advises on Caixa Econômica Federal’s US$5 Billion Medium-Note Program

Monday, November 12, 2012

Shearman & Sterling represented Caixa Econômica Federal, the largest fully government-owned bank in Latin America, in connection with the establishment of its US$5,000,000,000 Medium-Term Note Program and its first international issuances, consisting of U.S.$1,000,000,000 2.375% Notes due 2017 and U.S.$500,000,000 3.500% Notes due 2022 listed on the Luxembourg Stock Exchange. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. acted as Dealers.

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Tags:  Shearman & Sterling LLP | Sao Paulo