Baker & McKenzie Client Ecolab Closes USD8.3 Billion Merger with Nalco

Friday, December 2, 2011
Longstanding Baker & McKenzie client Ecolab Inc. announced today that it has closed on its merger with Nalco Holding Company.  The closing follows the overwhelming approval of the deal by shareholders from both Ecolab and Nalco on November 30, with 99% of each company’s shareholder votes cast in favor of the merger.  Baker & McKenzie advised Ecolab in the USD8.3 billion transaction.

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Tags:  Baker McKenzie

O’Melveny Represents Standard Chartered Bank in US$300 Million Securitization Transaction

Friday, December 2, 2011
O’Melveny & Myers LLP represented client Standard Chartered Bank as arranger and various Citibank entities as note trustee (and related roles) in the US$300 million securitization of Korean Air’s US$ receivables arising from the sale of airline tickets and related services where customers pay using MasterCard or Visa cards.  The Korea Development Bank further provided a credit facility of approximately US$316 million as well as an interest rate swap.

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Tags:  O'Melveny & Myers, LLP | Hong Kong

Milbank Represents Initial Purchasers in $900 Million Offering of 6.25% Senior Secured Notes and Cash Tender Offer by Tenet Healthcare Corporation

Friday, December 2, 2011
International law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Securities partners Rod Miller and Paul Denaro, acted as US counsel in a $900 million offering by Tenet Healthcare Corporation (“Tenet”) of its 6.25% Senior Secured Notes due in 2018, pursuant to Rule 144A and Regulation S.  The offering raised net proceeds of approximately $885 million.  Tenet will use the net proceeds from the offering to fund its cash tender offer for all of its outstanding $714 million 9% Senior Secured Notes due 2015, and for other general corporate purposes, including the repayment of indebtedness and drawings under its revolving credit facility.

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Tags:  Milbank LLP | New York

Bingham Expands in Asia With Beijing Office Launch

Thursday, December 1, 2011
Expanding its strategic investment in Asia and globally, Bingham McCutchen LLP announces the opening of a Beijing office with the addition of recognized international lawyer Xiaowei Ye as a partner and the transfer of Tokyo corporate partner Brian Beglin to Beijing. Ye and Beglin will serve as managing partners of the new office, Bingham’s third Asian location in addition to Tokyo and Hong Kong. Both are also principals in Bingham Consulting LLC, the firm’s affiliated business providing strategic and public policy advice on cross-border and multijurisdictional matters.

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Tags:  Beijing