Latham & Watkins LLP is pleased to announce that Alan W. Avery has joined the firm’s New York office as a partner in the Corporate Department. Avery’s practice spans a broad range of transactional and advisory assignments, including bank regulatory matters, investments in banks and bank holding companies, and the development and analysis of institutional and retail financial products, among others.

Davis Polk advised HSBC Securities (USA) Inc. and Mitsubishi UFJ Securities (USA), Inc. as representatives of the initial purchasers in connection with the offering by Corporación Nacional del Cobre de Chile (CODELCO) of $1.15 billion aggregate principal amount of its 3.875% notes due 2021. The notes were sold in an offering exempt from registration pursuant to Rule 144A and Regulation S.

Simpson Thacher represented Morgan Stanley Senior Funding, Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., The Bank of Nova Scotia and RBS Securities Inc. as joint lead arrangers and joint bookrunners in connection with approximately $1.4 billion of committed financing for the $1.0 billion acquisition of Avis Europe plc by Avis Budget Group, Inc. (the “Company”).  In addition, Simpson Thacher represented Morgan Stanley & Co. LLC as representative of the initial purchasers of $250.0 million 9.75% Senior Notes due 2020 issued by Avis Budget Car Rental, LLC (“ABCR”) and Avis Budget Finance, Inc., each a wholly owned subsidiary of the Company, in connection with the acquisition. The acquisition was effected through a scheme of arrangement under Part 26 of the UK Companies Act 2006 in the United Kingdom, and was subject to the “certain funds” and “cash confirmation” requirements for a public bid in the United Kingdom under the City Code on Takeovers and Mergers.