Paul Hastings Advises First Gen on Acquisition of Natural Gas Power Projects

Paul Hastings, a leading global law firm, announced today that it represented First Gen Corporation (“First Gen”), the largest vertically integrated power producer in the Philippines, in its US$360 million acquisition of BG Group’s (“BG”) power assets in the Philippines. First Gen’s wholly-owned subsidiary, Blue Vulcan Holdings Corp., acquired the entire outstanding capital stock of Lisbon Star Management Limited, a company incorporated in the British Virgin Islands, through which BG owned 40% stakes in the 1 GW Santa Rita combined-cycle natural gas-fired power plant, the 400 MW San Lorenzo combined-cycle natural gas-fired power plant and the corporate vehicle for the development of the San Gabriel power project.

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Paul Hastings Represents DFS Deutsche Flugsicherung GmbH Leasing Transaction Restructure

Paul Hastings LLP, a leading global law firm, announced today that the firm represented DFS Deutsche Flugsicherung GmbH which owns the majority of Germany’s air traffic control network, on the restructuring of a US cross-border leasing transaction set up in 2003 with a value over US$1 billion. The Federal Republic of Germany is the sole shareholder of DFS Deutsche Flugsicherung GmbH.

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Clifford Chance Advised Lead Manager on KfW Issue of Bonds with a Volume of 1 Billion Renminbi

Clifford Chance advised Hongkong and Shanghai Banking Corporation Limited who acted as lead manager in connection with the issue of bonds with a total volume of 1 billion Renminbi by KfW. The transaction is part of the KfW issue programme and is the first bond issued by KfW in the Chinese currency. The bond bears interest at a rate of 2% p.a. and its maturity is two years.

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Davis Polk – Covidien plc $1.25 Billion Senior Notes Offering

Davis Polk advised BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. as joint book-running managers and representatives of the several underwriters in connection with an SEC-registered offering of $600 million aggregate principal amount of 1.35% senior notes due 2015 and $650 million aggregate principal amount of 3.2% senior notes due 2022, issued by Covidien International Finance S.A. and guaranteed by Covidien plc and Covidien Ltd.

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Davis Polk – PIMCO Dynamic Income Fund Initial Public Offering

Davis Polk advised Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC as representatives of the several underwriters on the $1.015 billion SEC-registered initial public offering of 40,600,000 shares of common stock of PIMCO Dynamic Income Fund. The shares are listed on the New York Stock Exchange under the symbol “PDI.”

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Tags:  Davis Polk & Wardwell LLP | New York