Boston Announces Plans for New Hostel; Nixon Peabody Advises on “Green” 400+ Bed Project

International law firm Nixon Peabody LLP announces that its client, Hostelling International USA and its regional affiliate, Hostelling International-New England (HI-New England), have secured funding for the New Boston Hostel, a planned renovation of one of Boston’s historic landmark buildings by leveraging new markets and historic tax credits.

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Milbank Represents Lenders in Financing of 433-MW Norte II Power Plant in Mexico

The international law firm Milbank, Tweed, Hadley & McCloy LLP, led by Global Project Finance partner Dan Bartfeld, represented the Export-Import Bank of Korea (KEXIM), Sumitomo Mitsui Banking Corporation (SMBC) and Crédit Agricole Corporate & Investment Bank in the financing of the 433-MW Norte II combined cycle power plant located in Mexico’s northern state of Chihuahua. The debt to be provided to the consortium, made up of Korea Electric Power Corporation (KEPCO), Samsung C&T Corporation and Techint, S.A. de C.V., will exceed $300 million with three tranches of debt, with total project costs in excess of $400 million. The project is the largest Korean-sponsored power plant ever developed in Latin America and signifies the importance of Mexico (and Latin America) to Korean companies and KEXIM.

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Shearman & Sterling Advises Quest Diagnostics on Acquisition of Celera

Shearman & Sterling is representing Quest Diagnostics Incorporated, the world’s leading provider of diagnostic testing, information and services, in its definitive agreement to acquire Celera, one of the world’s pioneers in genetic diagnostics discovery and development. The aggregate purchase price for the Celera shares is approximately $671 million, with the transaction being valued at approximately $344 million, after taking into account Celera’s $327 million in cash and short-term investments.

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Simpson Thacher Represents HCA in $4.35 Billion Initial Public Offering

The Firm recently represented HCA Holdings, Inc., which is controlled by a private investor group comprised of affiliates of, or funds sponsored by, Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co., BAML Capital Partners, Citigroup Inc., Bank of America Corporation and HCA founder, Dr. Thomas F. Frist, Jr., in connection with its initial public offering of common stock.  The $4.35 billion offering was the largest private-equity backed IPO ever in the United States. HCA’s common stock is now listed on the New York Stock Exchange under the ticker symbol “HCA.”

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Davis Polk Advises Warner Chilcott plc on Secondary Offering

Davis Polk advised Warner Chilcott plc in connection with an SEC-registered offering of 25,000,000 of its ordinary shares by certain selling shareholders for an aggregate price to the public of approximately $581 million. The selling shareholders included funds affiliated with Bain Capital Partners, J.P. Morgan Partners (advised by CCMP Capital) and Thomas H. Lee Partners, as well as members of the company’s senior management. The ordinary shares are listed on Nasdaq.

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