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 YorkShearman & Sterling advised Morgan Stanley Senior Funding, Inc. as administrative agent, bookrunner and arranger, along with Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. as bookrunners and arrangers, in connection with a $720 million financing, consisting of a $525 million first lien term loan and a $195 million second lien term loan, related to the leveraged acquisition of Smart & Final by Ares Management.
Tags: Shearman & Sterling LLP | New YorkShearman & Sterling represented Johannesburg-based Sasol Limited on its inaugural US dollar bond offering. The investment grade $1 billion 4.50% notes due 2022 were issued by Sasol’s wholly-owned finance subsidiary Sasol Financing International Plc and are fully and unconditionally guaranteed by Sasol Ltd. The offering was made in an SEC-registered offering in the US pursuant to a shelf registration statement, and the bonds are listed on the New York Stock Exchange.
Tags: Shearman & Sterling LLP | New York
Mayer Brown advised longtime client and private equity firm The Jordan Company on the acquisition by its affiliate, The Resolute Fund II SIE, L.P., of Sequa Automotive Group from Sequa’s parent company, Sequa Corporation. Terms of the transaction were not disclosed.
Tags: Mayer Brown LLP | New York
Travers Smith partners Aaron Stocks, Paul Lyons and Anthony Judge have advised Metric Property Investments plc on its £811m recommended all-share merger with London & Stamford Property Plc by way of a scheme of arrangement to form London Metric Property Plc.
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The Korean Ministry of Justice this week granted final approval of the application of global law firm K&L Gates LLPfor a foreign legal service office in Seoul, the capital of the Republic of Korea. Pending registration with the Korean Bar Association in the coming weeks, K&L Gates’ Seoul office — the firm’s 42nd office worldwide and seventh in Asia — will be formally launched in January 2013. K&L Gates is one of the first U.S.-based law firms to avail themselves of the benefits of the Korea-U.S. Free Trade Agreement, which, upon becoming effective in March 2012, opened the Korean legal market to U.S. law firms for the first time.
Tags: K&L Gates LLP
Thompson Hine LLP is pleased to announce that Gregory D. Chafee has joined the firm as a corporate and energy partner in the Atlanta office. Chafee serves as vice chair of the American Bar Association Energy and Environmental Markets and Finance Committee and was the chair of his prior firm’s Sustainability practice.
Tags: Thompson Hine LLP
International law firm Clifford Chance, in conjunction with Al Jadaan & Partners Law Firm, has advised The National Shipping Company of Saudi Arabia (Bahri) in relation to the proposed US$1.3 billion merger of the fleets and operations of Bahri and Vela International Marine Ltd., a wholly-owned subsidiary of Saudi Aramco. The definitive transaction documents were signed in Riyadh on 4 November 2012.
Tags: Clifford Chance LLP | Dubai