Herbert Smith Advises on HK$8.2 Billion IPO of Sun Art Retail Group Limited

Herbert Smith has advised The Hongkong and Shanghai Banking Corporation Limited, UBS AG Hong Kong Branch, Citigroup Global Markets Asia Limited, BNP Paribas Capital (Asia Pacific) Limited, China International Capital Corporation Hong Kong Securities Limited, Goldman Sachs (Asia) L.L.C., and Morgan Stanley Asia Limited, as joint bookrunners on the HK$8.2 billion (US$1.1 billion) IPO of Sun Art Retail Group Limited (“Sun Art”) on the Main Board of the Hong Kong Stock Exchange and Rule 144A/Regulation S global offering.

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Tags:  Herbert Smith Freehills Kramer LLP | Hong Kong

Paul Hastings Continues Leveraged Finance Expansion with Addition of Another Prominent Partner

Paul Hastings LLP, a leading global law firm, announced today that Michael Baker has joined the Leveraged Finance practice in New York. Mr. Baker, previously with Shearman & Sterling LLP, is a prominent leveraged finance lawyer with extensive bank lending experience. His arrival follows the addition of leveraged finance partners Michael Michetti and Rich Farley, who joined in July and June, respectively.

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Tags:  Paul Hastings, LLP | New York

Proskauer – American Realty Capital REIT Seeks to Raise $1.5 Billion

Proskauer assisted with the formation of American Realty Capital Daily Net Asset Trust, Inc. (ARC NAV), a non-traded real estate investment trust that could raise up to $1.5 billion through a best efforts offering. The firm represented ARC NAV in obtaining effectiveness with the U.S. Securities and Exchange Commission, and will continue to serve as counsel during the REIT’s offering period, which became effective on August 15.

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Tags:  Proskauer Rose LLP

O’Melveny Represents Valedo II in SEK 2 Billion Fund Closing

O’Melveny & Myers LLP represented Valedo Partners Fund II (Valedo II) in its July 22, 2011, fund closing with committed capital of SEK 2 billion (approx. US$311 million).  Valedo II, a Swedish private limited liability company, reached its target size of SEK 2 billion on a single closing and is the successor to Valedo I, which was raised in 2006 and 2007, with committed capital of SEK 1 billion (approx. US$155 million).

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Tags:  O'Melveny & Myers, LLP