Linklaters LLP advised the joint bookrunners in connection with the issue by Arkema of its €700 million undated deeply subordinated notes bearing interest at a fixed rate of 4.75% per annum until 2020, then at a fixed rate calculated every five years on the basis of the 5-year swap rate. More >>
Tags: Linklaters LLP
The Law Office of Salman M. Al-Sudairi in association with Latham & Watkins LLP advised The National Commercial Bank (NCB) on the US$6 billion (SAR22.5 billion) initial public offering (IPO) of 25 percent of its shares at an offer price of SAR45 per NCB share. The 500 million shares sold in the IPO were held by the Saudi Public Investment Fund (PIF), and were divided into 300 million shares allocated for subscription by Saudi individuals and 200 million shares allocated for subscription by the Public Pension Agency (PPA). The individual allocation portion of this successful IPO was 23 times oversubscribed as of the close of the subscription period on 2 November 2014, and the PPA fully subscribed to the shares allocated to it. The IPO is the largest equity offering ever in Saudi Arabia and in the Arab world, and is also the second largest IPO globally so far this year. PIF retained a 44.9 percent stake in NCB after listing on the Tadawul, which took place on 12 November 2014. More >>
Tags: Latham & Watkins LLP | Dubai
Leading international law firm Freshfields Bruckhaus Deringer has advised on Yașar’s $250m bond issue. The Yașar group is one of Turkey’s leading producers of food and beverage products and coatings products.
The bond is a senior, unsecured, Rule 144A / Reg S issue, guaranteed by certain group operating companies, with an annual coupon of 8.875% and maturing in 2020. The bond has been rated B2 by Moody’s and B by Fitch and is listed on the Luxembourg Euro MTF Market. More >>
Tags: Freshfields LLP | Ankara
Continuing its strategic growth in Texas, the international law firm Greenberg Traurig LLP has added a top-tier team of five attorneys and one director across various practice areas including real estate, energy regulatory, corporate & securities and government law & policy to its Austin office. The team, whose experience further enhances the firm’s highly regarded multi-practice capabilities, includes shareholders Joshua Bernstein, Todd Kimbrough and Elizabeth Rogers along with associates William Teten, Jr. and Katie Van Dyk. Rounding out the group is Government Law & Policy senior director, Dr. Jennifer McEwan. More >>
Tags: Greenberg Traurig, LLP | AustinAT&T announced it has entered into an agreement with Paul, Weiss client Grupo Salinas to acquire Mexican wireless company Iusacell for $2.5 billion, inclusive of Iusacell’s debt. Under the terms of the agreement, AT&T will acquire all of Iusacell’s wireless properties, including licenses, network assets, retail stores and approximately 8.6 million subscribers. The acquisition will occur after Grupo Salinas, owner of 50 percent of Iusacell, closes its announced purchase of the 50 percent of Iusacell that it does not already own. Subject to customary closing conditions and regulatory approval, the transaction is expected to close in the first quarter of 2015. More >>
Tags: New York | WashingtonThe Firm represented Hilton Worldwide Holdings Inc. in connection with a $2.6 billion secondary offering, consisting of 103,500,000 shares of common stock (including 13,500,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares) at a public offering price of $25.00 per share. More >>
Tags: New York
Simpson Thacher represented the underwriters, led by Goldman, Sachs & Co. and Deutsche Bank AG, London Branch, in connection with Apple Inc.’s first registered public offering of euro-denominated notes. Apple Inc. offered €1.4 billion aggregate principal amount of 1.000% notes due 2022 and €1.4 billion aggregate principal amount of 1.625% notes due 2026. The notes will be listed on the New York Stock Exchange. The net proceeds from the offering will be used for general corporate purposes, including repurchases of common stock and payment of dividends under Apple Inc.’s program to return capital to shareholders, funding for working capital, capital expenditures, acquisitions and repayment of short-term debt. More >>
Tags: Simpson Thacher & Bartlett LLP | Palo Alto
Kirkland & Ellis LLP represented Wynnchurch Capital in the raising of its fourth private equity fund, Wynnchurch Capital Partners IV, L.P., which announced its final closing at $1.2 billion of limited partner commitments. The fund, which had a target of $900 million, was oversubscribed, resulting in the fund reaching its hard cap closing relatively quickly after its initial launch in September 2014. More >>
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Blank Rome LLP is pleased to announce that it is expanding the Firm’s presence in Florida with the opening of a Fort Lauderdale office on November 17. Located at 500 East Broward Boulevard on the 21st floor, the office provides the Firm with accommodations for up to 20 attorneys. More >>
Tags: Blank Rome LLP | Fort Lauderdale
Cahill represented Wells Fargo Securities, Citigroup, Deutsche Bank Securities, Scotiabank, HSBC, and SunTrust Robinson Humphrey as joint book-running managers and the co-managers in connection with the Rule 144A offering of $900,000,000 Senior Notes, comprised of $500,000,000 aggregate principal amount of 4.125% Senior Notes due 2020, and $400,000,000 aggregate principal amount of 4.75% Senior Notes due 2024 by Fresenius Medical Care US Finance II, Inc. Proceeds from the offering were used to refinance existing indebtedness and for general corporate purposes.
Tags: Cahill Gordon & Reindel LLP | London | New York