Leading international law firm Clifford Chance has advised FountainVest Partners on its investment as part of a consortium including Morgan Stanley Infrastructure and Olympus Capital, in Zhaoheng Hydropower Limited, a privately owned holding company operating hydropower assets in China. The consortium is investing a second US$150 million following an initial US$150 million investment in Zhaoheng in 2010.
Tags: Clifford Chance LLP | Beijing
The Firm recently represented Tesoro Logistics LP and Tesoro Logistics Finance Corp., as co-issuers, in connection with a Rule 144A/Regulation S offering of $350 million aggregate principal amount of 5.875% senior notes due 2020. The proceeds of the offering were used to fund the acquisition of a marine terminal and short-haul pipelines and to repay outstanding indebtedness under Tesoro Logistics’ revolving credit facility.
Tags: Simpson Thacher & Bartlett LLP | New YorkThe Firm recently represented JPMorgan Chase Bank, N.A., as administrative agent, in connection with $325 million in senior secured credit facilities for National Vision, Inc. (“NVI”), which consisted of a five year $25 million revolving credit facility and a six year $300 term loan facility. The proceeds of the term loan will be used to refinance existing indebtedness and fund a dividend to Berkshire Partners LLC, NVI’s financial sponsor. This transaction expands NVI’s borrowing capacity by $100 million and reduces its borrowing spread by 475 basis points.
Tags: Simpson Thacher & Bartlett LLP | New York
Bird & Bird is pleased to welcome Allan Poulter as partner to its International Intellectual Property Practice Group and London office.
Tags: Bird & Bird LLP
Davis Polk advised the United States Department of the Treasury (Treasury) in connection with its offering of approximately 636.9 million shares of common stock of American International Group, Inc. (AIG), which included the full exercise of the underwriters’ over-allotment option, representing proceeds to Treasury of approximately $20.7 billion. AIG agreed to purchase approximately 153.8 million shares in the offering, representing approximately $5 billion of Treasury’s proceeds from the sale. The offering reduced Treasury’s remaining investment in AIG to approximately 234.2 million shares of common stock and reduced Treasury’s percentage ownership of AIG’s outstanding shares of common stock from approximately 53.4% to approximately 15.9%. The offering was the largest common stock offering (IPO or follow-on) in U.S. history.
Tags: Davis Polk & Wardwell LLP | New YorkDavis Polk advised underwriters represented by Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated in connection with the offering of $2.5 billion aggregate principal amount of notes issued by Merck & Co., Inc. The offering consisted of $1 billion principal amount of 1.1% notes due 2018, $1 billion principal amount of 2.4% notes due 2022 and $500 million principal amount of 3.6% notes due 2042.
Tags: Davis Polk & Wardwell LLP | New York
Leading international law firm Freshfields Bruckhaus Deringer announces the opening of an office in Singapore.
Tags: Freshfields LLP | Singapore
Hogan Lovells has advised independent oil and gas exploration company, Mitra Energy Limited (“Mitra”), on its farmout of a 75% working interest in Service Contract No. 56 (“SC-56”) located in the Sulu Sea in the Philippines to Total E&P Philippines B.V. (“Total”).
Tags: Hogan Lovells | Singapore
Katten Muchin Rosenman LLP announced today the hiring of Michael M. Rosensaft, who joins the firm’s Litigation Practice as a partner. Rosensaft represents businesses and individuals in white collar criminal and regulatory enforcement matters, corporate internal investigations, and complex civil litigation with an emphasis on insurance and health care fraud litigation.
Tags: Katten Muchin Rosenman LLP | New York