Davis Polk – PPL Capital Funding, Inc. $400 Million Senior Notes Offering

Monday, June 18, 2012

Davis Polk advised PPL Capital Funding, Inc. on its SEC-registered offering of $400 million aggregate principal amount of 4.2% senior notes due 2022, fully and unconditionally guaranteed by PPL Corporation (PPL). BNP Paribas Securities Corp., Goldman, Sachs & Co., J.P. Morgan Securities LLC and UBS Securities LLC acted as representatives of the several underwriters for the offering. PPL Capital Funding expects to loan the net proceeds from the sale of the notes to subsidiaries of PPL, which will use the funds for general corporate purposes.

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Tags:  Davis Polk & Wardwell LLP | New York

Freshfields Advises the London Metal Exchange on Its £1.388bn Acquisition by Hong Kong Exchanges & Clearing Limited

Monday, June 18, 2012

International law firm Freshfields Bruckhaus Deringer has advised LME Holdings Limited, the parent company of The London Metal Exchange Limited (the “LME”), on the £1,388bn recommended cash offer for its entire issued and outstanding ordinary share capital by a wholly- owned subsidiary of Hong Kong Exchanges & Clearing Ltd (“HKEx”) (the “Transaction”). The Transaction brings together the LME, the world’s leading non-ferrous base metals exchange trading venue with the leading operator of exchanges and clearing houses in Asia.

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Tags:  Freshfields LLP | Hong Kong

Pinsent Masons Grows Shanghai Practice

Monday, June 18, 2012

International law firm Pinsent Masons is strengthening its practice in China with the appointment of Dr. Bernd-Uwe Stucken and Liu Wei as partners, specialising principally in corporate, mergers and acquisitions, and commercial work. Bernd and Liu Wei will join the Shanghai office to grow practice expertise of inbound investment in Chinese manufacturing and technology business.

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Tags:  Pinsent Masons LLP | Shanghai

Pinsent Masons Strengthens City Insurance Practice

Monday, June 18, 2012

International law firm Pinsent Masons has strengthened its full service insurance practice in the City with the appointment of a new Head of Insurance, Nick Bradley. Nick’s arrival from Lawrence Graham follows a successful period for Pinsent Masons’ insurance sector which grew by 20% during the last year.

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Tags:  Pinsent Masons LLP

Clifford Chance Advises DIFC Investments in Securing a USD 1.035 Billion Islamic Syndicated Facility to Refinance its Sukuk

Monday, June 18, 2012

Clifford Chance advised DIFC Investments LLC (DIFCI) in securing a USD 1.035 billion Islamic syndicated facility to contribute towards financing in full the repayment of its USD 1.25 billion Sukuk maturing 13th June 2012. This is a landmark transaction in the history of the DIFC which further evidences the commitment of Dubai to meet its obligations in a timely manner.

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Tags:  Clifford Chance LLP | Dubai

Paul Hastings Advises Sino-Ocean Land on US$600 Million Multi-Currency Syndicated Loan Facility

Monday, June 18, 2012

Paul Hastings, a leading global law firm, announced today that it represented Sino-Ocean Land Holdings Limited (“Sino-Ocean Land”), one of the leading property developers in China whose shares are listed on the Hong Kong Stock Exchange, on a 3-year multi-currency term loan facility in the principal amount of approximately US$600 million-equivalent, with US dollar, HK dollar and RMB tranches.

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Tags:  Paul Hastings, LLP | Hong Kong

Willkie – Frankfurt Office Advises Sachtleben on Acquisition of Titanium Business and on €430 Million Refinancing Transaction

Monday, June 18, 2012

It was recently announced that Willkie client Sachtleben GmbH, a manufacturer of specialty chemical products, has agreed to acquire the titanium dioxide production assets and inventory of crenox GmbH from the company’s insolvency administrator, Mr. Eberhard Stock. Sachtleben, a venture of Rockwood and Kemira, conducted the purchase agreement through its subsidiary Sachtleben Pigment GmbH. Sachtleben manufactures titanium dioxide and functional additives at plants in Duisburg, Germany and Pori Finland. The acquisition will add over 100,000 metric tons of titanium dioxide production, increasing capacity to approximately 340,000 metric tons, enhancing Sachtleben’s position as a leading global supplier of high quality TiO2 pigments. Closing of the transaction is subject to regulatory approvals in Germany and Austria.

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Tags:  Willkie Farr & Gallagher LLP | Germany