King & Spalding Continues Global Expansion with Announcement of Moscow Office

Tuesday, May 10, 2011
The international law firm King & Spalding today announced the establishment of a major presence in Moscow with its initial hiring of five lawyers from Hogan Lovells and White & Case. The Moscow office will be King & Spalding’s 17th worldwide and will work closely with the firm’s extensive transactions practices in London, the historic legal centre for transactions originating in Russia, as well as its highly regarded international arbitration practice in Paris, an important venue for Russian disputes. Opening in Moscow, which will occur following receipt of government registration, has also been a widely anticipated next step in the expansion of King & Spalding’s top-ranked international energy practice, and the office will have close ties to the firm’s existing operations in the global energy centres of Abu Dhabi, Dubai, Riyadh, Singapore, Houston, London and New York.

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Freshfields Advises on Evraz Group SA Notes Issue

Tuesday, May 10, 2011
International law firm Freshfields Bruckhaus Deringer has advised Goldman Sachs International, ING and VTB Capital in relation to the issue by Evraz Group S.A. of U.S.$850m (6.75%) Notes due 2018 and the simultaneous cash tender offer by Evraz Group S.A. for U.S.$622m of its outstanding U.S.$1.3 bn (8.875%) Notes due 2013. The newly issued Notes are listed on the UKLA’s official list and admitted to trading on the LSE’s regulated market.

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Day Pitney Teams with New Mexico Attorney General in Pursuing Lawsuits Arising from “Pay-to-Play” Investment Scheme Involving the $15 Billion New Mexico Permanent Funds

Tuesday, May 10, 2011
On May 6, 2011, the New Mexico State Investment Council (“SIC”), the trustee for New Mexico’s $15 billion Permanent Funds, filed lawsuits in both federal and state district courts, seeking to hold multiple individuals and a partnership accountable for their role in “pay-to-play” and kickback schemes involving the SIC during the period 2003 to 2009. The suits seek monetary damages and recovery of ill-gotten gains acquired by the defendants at the expense of the New Mexico Permanent Funds.

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Simpson Thacher Represents HCA Inc. in Refinancing

Tuesday, May 10, 2011
The Firm recently represented HCA Inc. in steps designed to increase its flexibility and options and to extend the maturities of certain of its term loans.  To effect these changes, HCA Inc. entered into restatement agreements with the lenders under its existing $13.55 billion/€1.0 billion senior secured cash flow credit facility and $2.0 billion senior secured asset-based credit facility, pursuant to which the credit agreements were amended and restated to among other things, remove certain restrictions on HCA Inc.’s ability to issue new first lien, second lien and unsecured debt.

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Simpson Thacher Represents Microsoft in $8.5 Billion Skype Acquisition

Tuesday, May 10, 2011
Simpson Thacher is representing Microsoft Corporation in connection with its acquisition of Skype Global S.à r.l. for $8.5 billion in cash from the investor group led by Silver Lake.  Completion of the transaction is subject to satisfaction of customary conditions to closing, including the receipt of applicable regulatory approvals.  The transaction will be Microsoft’s largest acquisition to date.

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Davis Polk Advises on Financing for Acquisition of Frac Tech Services

Monday, May 9, 2011
Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Citigroup Global Markets Inc. as lead arrangers and Bank of America, N.A. as administrative agent of $1.7 billion in secured credit facilities provided to an investor group comprised of, among others, Maju Investments (Mauritius) Pte Ltd, a wholly owned investment holding company of Temasek Holdings (Private) Limited, Chesapeake Energy Corporation and Senja Capital Ltd. in connection with their acquisition of Frac Tech Services, LLC.

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