Davis Polk – Torchmark Corporation Senior Notes Offering and Junior Subordinated Debentures Offering

Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC as joint book-running managers on an SEC-registered offering by Torchmark Corporation of $300 million aggregate principal amount of 3.8% senior notes due 2022. Davis Polk also advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC as joint book-running managers on an SEC-registered offering by Torchmark Corporation of $125 million aggregate principal amount of 5.875% junior subordinated debentures due 2052.

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Tags:  Davis Polk & Wardwell LLP

Davis Polk Advises Grupo Aval on Its $1 Billion Global Offering

Davis Polk advised Grupo Aval Acciones y Valores S.A. in connection with its global offering of $1 billion aggregate principal amount of 4.75% senior notes due 2022. The notes were issued by Grupo Aval’s wholly owned finance subsidiary, Grupo Aval Limited, and guaranteed by Grupo Aval and were offered pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933.

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Tags:  Davis Polk & Wardwell LLP | New York

New Arbitration Specialist Joins London Office

International law firm Stephenson Harwood has appointed Shai Wade as a partner in its commercial litigation practice. Shai joins from Reed Smith where he was co-practice group leader of international arbitration and where he has been a partner since 2008. Prior to this he was a partner at Kilpatrick Stockton.

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Weil Advises on $1B Bond Offering by Largest Polish Bank

International law firm Weil, Gotshal & Manges LLP acted as outside legal counsel on matters of Polish, UK and US law to PKO Bank Polski (PKO), Poland’s top bank by assets, on the issuance of $1 billion in senior 10-year bonds by its subsidiary, PKO Finance AB. The bonds will be traded on the Luxembourg Stock Exchange, and proceeds will be used to refinance the bank’s existing financial indebtedness as well as for general corporate purposes. Goldman Sachs International and J.P. Morgan Securities plc acted as the joint lead managers.

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Tags:  Weil, Gotshal & Manges, LLP