Kirkland Advises Vista Equity Partners in Formation and Fundraising of Vista Equity Partners Fund V

Wednesday, October 22, 2014

Kirkland represented Vista Equity Partners in the formation and fundraising of Vista Equity Partners Fund V, its fifth flagship fund, which completed its fundraising six months early and announced its final closing on October 15, 2014. With Kirkland’s assistance, Fund V far exceeded its $3.5 billion target, raising in excess of $5.775 billion in limited partner commitments. Investors in Fund V include significant commitments from Fund IV limited partners as well as new corporate limited partners, public pension plans, non-U.S. pension funds and sovereign wealth funds, foundations and high-net-worth individuals, including many Vista portfolio company executives. Target investments, for which Vista routinely retains Kirkland as counsel, will focus on middle and upper-middle market enterprise software companies. More >>

Tags:  Kirkland & Ellis LLP | Chicago | Houston | Los Angeles | New York

CC advises Statoil on the US$2.25 billion disposal of its Shah Deniz interest to PETRONAS

Wednesday, October 22, 2014

Clifford Chance is advising the international energy company Statoil ASA (Statoil) on the disposal of Statoil’s interest in the Shah Deniz field, off shore Azerbaijan, to the Malaysian oil and gas company PETRONAS. The transaction value is US$2.25 billion. Closing is expected in early 2015 following approvals from the relevant authorities. More >>

Tags:  Clifford Chance LLP | London

Shearman & Sterling Advises Underwriters in Atmos Energy’s $500 Million Offering of Senior Notes

Tuesday, October 21, 2014

Shearman & Sterling acted as counsel to the underwriters, represented by Credit Agricole Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC, in connection with Atmos Energy’s offering of $500 million aggregate principal amount of 4.125% Senior Notes due 2044. More >>

Tags:  Shearman & Sterling LLP | New York | Palo Alto

Simpson Thacher Represents Tesoro Logistics LP in Committed Financing in Connection with its Announced Acquisition of QEP Field Services, LLC.

Tuesday, October 21, 2014

The Firm is representing Tesoro Logistics LP (“TLLP”) in connection with the committed financing for its announced acquisition of 100% of the outstanding equity interests of QEP Field Services, LLC (“QEPFS”), including up to $2.5 billion in senior unsecured bridge financing and a $900 million revolving credit facility. The bridge financing will be reduced by the amount of gross proceeds TLLP receives from a public offering of its common units and a private placement of its debt securities. More >>

Tags:  Simpson Thacher & Bartlett LLP | Houston | New York

Weil Advises GLOBALFOUNDRIES in its Agreement to Acquire IBM’s Global Commercial Semiconductor Technology Business

Tuesday, October 21, 2014

Weil is advising GLOBALFOUNDRIES in its agreement to acquire IBM’s global commercial semiconductor technology business, including intellectual property and technologists and technologies related to IBM Microelectronics. Following completion, GLOBALFOUNDRIES will also receive $1.5 billion cash over three years from IBM and will become IBM’s exclusive server processor semiconductor technology provider for 22nm, 14nm and 10nm semiconductors for the next 10 years. This acquisition will give GLOBALFOUNDRIES a substantial intellectual property portfolio containing thousands of patents, making it the holder of one of the largest semiconductor patent portfolios in the world. Completion of the transaction is subject to the satisfaction of regulatory requirements and customary closing conditions.
GLOBALFOUNDRIES is the world’s first full-service semiconductor foundry with a global manufacturing footprint, and is the second largest semiconductor foundry in the world. GLOBALFOUNDRIES is owned by Mubadala Development Company PJSC. IBM is a multinational technology and consulting corporation. More >>

Tags:  Weil, Gotshal & Manges, LLP | New York

Milbank Advises Lion Group in US$1.2B Aircraft Engine Purchase, Support and Maintenance Agreement with CFM International

Tuesday, October 21, 2014

In a noteworthy Asian aviation transaction, Milbank, Tweed, Hadley & McCloy LLP acted as international counsel to Indonesia-based Lion Group in its $1.2 billion purchase of 124 jet engines from aircraft engine maker CFM International. The deal includes development of a multimillion-dollar maintenance facility and implementation of a long-term engine parts and repair consultancy. More >>

Tags:  Milbank LLP | Singapore

Davis Polk Advises Greenland Group on the Establishment of Its US$3 Billion MTN Program and US$500 Million Drawdown of Notes

Tuesday, October 21, 2014

Davis Polk advised Greenland Global Investment Limited, a subsidiary of Greenland Holding Group Company Limited (“Greenland Holding”), in connection with the establishment of its US$3 billion medium-term note program and the issuance of US$500 million notes thereunder which are guaranteed by Greenland Holding. More >>

Tags:  Davis Polk & Wardwell LLP | Hong Kong | London

HCA Completes $2 Billion High Yield Debt Offering

Monday, October 20, 2014

Simpson Thacher recently represented HCA Inc. in its high yield offering of $600 million aggregate principal amount of 4.25% Senior Secured Notes due 2019 and $1.4 billion aggregate principal amount of 5.25% Senior Secured Notes due 2025. HCA intends to use the net proceeds for the redemption of a series of its existing secured notes, for related fees and expenses and for general corporate purposes. More >>

Tags:  New York