O’Melveny & Myers LLP represented GIC, Singapore’s sovereign wealth fund, in a definitive agreement to invest US$700 million, along with PSP Investments and Ontario Teachers’ Pension Plan, in XPO Logistics. The transaction is scheduled to close on September 17, 2014. More >>
Tags: O'Melveny & Myers, LLP | Silicon Valley | Singapore
Paul Hastings, a leading global law firm, announced today that the firm represented West China Cement Limited in connection with its Regulation S offering of US$400 million of 6.50% senior notes due 2019. West China Cement is one of the leading cement producers in Shaanxi Province. Credit Suisse and Nomura acted as Joint Bookrunners and Joint Lead Managers for the transaction. More >>
Tags: Paul Hastings, LLP | Hong Kong
The Firm represented the underwriters, led by Barclays Capital Inc., in connection with a registered offering by Linn Energy, LLC and Linn Energy Finance Corp. as co-issuers of $650 million aggregate principal amount of 6.5% senior notes due 2021 and $450 million aggregate principal amount of 6.5% senior notes due 2019. The senior notes due 2019 were issued as additional notes under an indenture pursuant to which Linn Energy issued $750 million of 6.5% senior notes due 2019 on May 13, 2011. The net proceeds from the offering were used to repay the Company’s bridge loan agreement, which was entered into to finance the acquisition of certain oil and natural gas properties and related assets of Devon Energy Corporation, and to repay certain indebtedness outstanding under the Company’s revolving credit facility. The offering closed on September 9, 2014. More >>
Tags: Simpson Thacher & Bartlett LLP | New York
Cravath represented the underwriter, J.P. Morgan Securities, in connection with the US$3 billion registered subordinated debt offering of JPMorgan Chase & Co., a leading global financial services firm and one of the largest banking institutions in the United States. The transaction closed on September 10, 2014. More >>
Tags: Cravath, Swaine & Moore LLP | New York
Hogan Lovells has advised Reinsurance Group of America (RGA) on an index-based longevity swap transaction it has entered into with Delta Lloyd covering €12 billion of Delta Lloyd’s longevity reserves. The transaction completed on 22 August 2014.
This marks the first time that Delta Lloyd Levensverzekering N.V., the life insurance arm of the Dutch insurance, pensions and investments firm Delta Lloyd, has used the reinsurance market to transfer longevity risk. More >>
Tags: Hogan Lovells | LondonHunton & Williams LLP advised the underwriters in the sale of $500,000,000 Florida Power & Light Company’s 4.05% Series due October 1, 2044.
Florida Power & Light Company is the third-largest electric utility in the United States, serving approximately 4.7 million customer accounts across nearly half of the state of Florida. It is a leading Florida employer with approximately 8,900 employees. FPL is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. More >>
Tags: New York
Kirkland & Ellis LLP is representing Taminco Corp. (NYSE:TAM), the world’s largest producer of alkylamines and alkylamine derivatives, which today announced a definitive agreement to be acquired by Eastman Chemical Company (NYSE: EMN) for $26.00 per share, for a total transaction value of approximately $2.8 billion in cash. The transaction was approved by the Taminco and Eastman boards of directors, and is expected to close in the fourth quarter of 2014 subject to a go-shop process, approvals and closing conditions. More information on the transaction is available here. More >>
Tags: Kirkland & Ellis LLP | New York
Milbank, Tweed, Hadley & McCloy LLP advised PT Adaro Indonesia on its US$1,000,000 loan facility from a consortium of lenders including ANZ, BTMU, CIMB, Citi, CTBC, DBS, HSBC, ING Bank, Maybank, Mizuho Bank, OCBC, SMBC, Standard Chartered Bank and UOB. The loan will be used to refinance existing indebtedness of the company. More >>
Tags: Milbank LLP | SingaporeShearman & Sterling represented Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Deutsche Bank Securities Inc., as joint bookrunning managers, and BMO Capital Markets Corp., PNC Capital Markets LLC and RBS Securities Inc. and Wells Fargo Securities, LLC as co-managers, in connection with a Rule 144A/Regulation S offering by Steel Dynamics, Inc. (the “Company”) of $700,000,000 aggregate principal amount of 5.125% Senior Notes due 2021 and $500,000,000 aggregate principal amount of 5.500% Senior Notes due 2024. The Senior Notes are guaranteed by certain subsidiaries of the Company. The Senior Notes were issued to escrow pending the Company’s planned acquisition of Severstal Columbus, LLC. More >>
Tags: New York | Washington
Shearman & Sterling acted as designated lenders’ counsel in connection with the $600 million bridge financing for Gasoducto Sur Peruano S.A.’s southern gas pipeline project in Peru. The bridge financing is expected to be taken out by a $3.8 billion project financing. This financing is expected to be one of the largest non-recourse financings in the region. More >>
Tags: Shearman & Sterling LLP | New York | San Francisco