Mayer Brown Represents Global Bank Corporation on First Covered Bond Transaction in Latin America

Mayer Brown, a leading global law firm, advised the Panama-based Global Bank Corporation as borrower in a Rule 144A/Regulation S offering of $200 million covered bonds under a $500 million residential mortgage covered bond program guaranteed by a pool of assets transferred to a guaranty trust. The transaction marks Latin America’s first-ever covered bond deal. Deutsche Bank and HSBC served as underwriters.

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Tags:  Mayer Brown LLP | New York

Willkie Represents Ryerson in Offering of $900 Million Principal Amount of Notes and Related Tender Offers and Consent Solicitations

On October 10, Willkie client Ryerson Inc., a Platinum Equity portfolio company, closed on its offering of $600 million aggregate principal amount of 9% Senior Secured Notes due 2017 and $300 million aggregate principal amount of 11¼% Senior Notes due 2018. The gross proceeds from the notes offering were used to (i) to repay in full Ryerson Holding Corporation’s outstanding 14 1/2% Senior Discount Notes due 2015, (ii) to repay in full the Ryerson Inc.’s outstanding Floating Rate Senior Secured Notes due November 1, 2014 and Ryerson Inc.’s outstanding 12% Senior Secured Notes due November 1, 2015, (iii) to repay outstanding indebtedness under the Ryerson Inc.’s senior secured asset-based revolving credit facility and (iv) to pay related fees, expenses and premiums. The Notes were repaid through the early settlement of tender offers (and related consent solicitations) and the satisfaction and discharge of any remaining notes.

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Tags:  Willkie Farr & Gallagher LLP | New York

Shearman & Sterling Advises Citigroup, Jefferies and BNP Paribas on First Quantum Minerals’ Debut US$350 Million High Yield Bond Offering

Shearman & Sterling represented joint bookrunning managers Citi, Jefferies and BNP Paribas on First Quantum Minerals’ debut international US$350 million high yield bond offering. The offering of the senior unsecured notes, which was undertaken by way of a private placement (including in the US pursuant to Rule 144A), closed on 10 October. The company will use the proceeds of the bond sale for general corporate purposes.

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Tags:  Shearman & Sterling LLP | New York