Herbert Smith has advised NB Global Floating Rate Income Fund Limited (the “Fund”) on its initial public offering and successful fundraising of over US$500 million.

Corporate Advisory Partner Andrew Bullock and Finance Partner Nick Grambas led the cross-functional transaction team, which included senior lawyer Hiroshi Narushima.

International law firm Greenberg Traurig, P.A. represented Rowland Coffee Roasters, Inc., a privately-held company based in Miami, in the $360 million sale of its coffee brands and business operations to The J.M. Smucker Company, a leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk and health and natural food beverages in North America. Rowland’s products are sold under the leading Hispanic brands Café Bustelo® and Café Pilon®.

O’Melveny & Myers LLP has launched a transnational task force to counsel China-based companies that have shares listed on US exchanges on the increased scrutiny by the US Securities and Exchange Commission, Congress, and the plaintiffs’ class action bar. There have been a burgeoning number of lawsuits — nearly 20 filed so far this year, comprising a quarter of all securities class actions in the US — targeting US-listed Chinese companies for their methods for coming to market, including companies that have listed through reverse mergers.

Milbank’s Global Securities Group represented Wells Fargo Securities, BofA Merrill Lynch, J.P. Morgan and a syndicate of ten other underwriters in connection with the registered public offering by BRE Properties, Inc. (“BRE”) of 9,200,000 shares of its common stock at a price of $48.00 per share. The offering was one of the largest by a property REIT this year. BRE is a real estate investment trust (“REIT”) focused on the development, acquisition and management of multifamily apartment properties located primarily in California, and Seattle, Washington, with a multifamily portfolio of real estate assets having a book value of approximately $3.1 billion. BRE intends to use the proceeds to further its development efforts by paying off outstanding amounts under its revolver and redeeming outstanding preferred stock.

The Firm recently represented Texas Competitive Electric Holdings Company LLC (“TCEH”), a subsidiary of Energy Future Holdings Corp. (“EFH Corp.”), formerly known as TXU Corp., in a refinancing and extension of the maturities in a portion of its capital structure.  To effect these changes, TCEH entered into an extension amendment with certain lenders under its existing senior secured credit facilities pursuant to which the maturity date was extended on approximately $1.38 billion of revolving commitments, $15.4 billion of term loans and $1 billion deposit letter of credit loans under such senior secured credit facilities.  TCEH also issued $1.725 billion aggregate principal amount of new 11.5% Senior Secured Notes due 2020 in reliance on Rule 144A and Regulation S. TCEH used the net proceeds of the debt offering, together with cash on hand, to repay term loans, deposit letter of credit loans and revolving loans (and permanently reduce certain revolving commitments) under its senior secured credit facilities and to pay related fees and expenses.  The Firm also represented Energy Future Intermediate Holding Company LLC, a subsidiary of EFH Corp., in an issuance of 11% Senior Secured Second Lien Notes due 2021 in an exchange offer for existing debt of EFH Corp.

Davis Polk advised CVS Caremark Corporation on its $1.5 billion registered offering of $550 million aggregate principal amount of 4.125% senior notes due 2021 and $950 million aggregate principal amount of 5.75% senior notes due 2041. Barclays Capital Inc., J.P. Morgan Securities LLC, BNY Mellon Capital Markets, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm advised Yonkers Racing Corporation, a provider of video gaming machines, live harness racing, and simulcasting services in New York, in its new offering of $100 million aggregate principal amount of its 11 3/8% Senior Secured Notes due 2016.

Davis Polk advised J.P. Morgan Securities LLC and Goldman, Sachs & Co. as joint book-running managers on a Rule 144A offering by Lam Research Corporation of $450 million aggregate principal amount of 0.5% convertible senior notes due 2016 and $450 million aggregate principal amount of 1.25% convertible senior notes due 2018. In addition, Davis Polk advised an affiliate of J.P. Morgan Securities LLC and Goldman, Sachs & Co. as counterparties to convertible note hedge and warrant transactions with Lam Research Corporation in connection with the convertible senior notes offering.