Paul Hastings Advises JP Morgan on SBI Holdings, Inc.’s Listing of Hong Kong Depositary Receipts

Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised JPMorgan Chase Bank, N.A. (“JPMorgan”) as the depositary bank in the listing of Hong Kong Depositary Receipts (“HDRs”) for SBI Holdings, Inc. (“SBI”), a Japanese internet-based financial group, on the Main Board of the Hong Kong Stock Exchange. SBI is the only Japanese company to be listed in Hong Kong and the second company after Brazil’s Vale S.A. (“Vale”) to issue HDRs. Paul Hastings advised JPMorgan as the sponsor and depositary in Vale’s listing of HDRs by way of introduction. Unlike Vale, SBI raised funds from its listing.

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Tags:  Paul Hastings, LLP | Hong Kong

Simpson Thacher to Open Houston Office and Robert R. Rabalais to Join

Simpson Thacher & Bartlett LLP announced today that it plans to open an office in Houston, Texas and that Robert R. Rabalais will be joining that office as a partner in the Banking and Credit Practice Group. Establishment of a Houston office will enhance the Firm’s ability to serve clients in the energy sector, including financial institutions, corporate clients and private equity firms involved in oil and gas transactions. In addition, the Houston office’s focus on the energy sector will provide synergies with the Firm’s global offices.

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Willkie Represents Level 3 Communications in Its Acquisition of Global Crossing Limited

Willkie represented longtime client Level 3 Communications in its tax-free, stock-for-stock acquisition of Global Crossing Limited. The transaction, announced on April 11, is valued at approximately $3.0 billion, including the assumption of approximately $1.1 billion of net debt. It will create a premier global communications provider with an owned network in more than 50 countries and connections to more than 70 countries.

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Tags:  Willkie Farr & Gallagher LLP

King & Spalding Advises on World’s First Floating LNG Production Unit

King & Spalding advised Pacific LNG Operations, Ltd., on the commercial framework agreement and related project agreements among Pacific LNG, InterOil Corporation, Liquid Niugini Gas Ltd. (LNGL), Flex LNG Ltd. (FLNG) and Samsung Heavy Industries Co., Ltd., governing the terms for the development, construction, financing and operation of a planned floating liquefied natural gas (LNG) production unit in the Gulf Province of Papua New Guinea.

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Davis Polk Advises Stable Investment Corporation on Its Investment in China Lumena New Materials

Davis Polk is advising Stable Investment Corporation (SIC), a wholly owned subsidiary of China Investment Corporation, the Chinese sovereign wealth fund, and CITIC Capital China Access Fund Limited (CITIC Capital), a private investment fund managed by a subsidiary of CITIC Capital Holding Limited, in connection with their investment in China Lumena New Materials Corp. SIC and CITIC Capital agreed to subscribe for 6% convertible bonds due 2014 of Lumena in an aggregate principal amount of US$120 million (equivalent to approximately HK$933 million).

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Simpson Thacher Represented DJO Finance LLC and DJO Finance Corporation in Acquisition Finance Transactions

Simpson Thacher represented DJO Finance LLC and DJO Finance Corporation, wholly-owned subsidiaries of DJO Global, Inc., as co-issuers in connection a Rule 144A offering of $300 million aggregate principal amount of 7.75% Senior Notes due 2018, guaranteed by each of DJO Finance LLC’s direct and indirect wholly owned domestic subsidiaries.  The deal closed on April 7, 2011.  DJO used the net proceeds from the offering to fund the acquisition of Rikco International, LLC, D/B/A Dr. Comfort, a provider of therapeutic footwear, to pay fees and expenses associated with the acquisition and the related financing and to repay borrowings under DJO’s senior secured revolving credit facility.

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Tags:  Simpson Thacher & Bartlett LLP