Alston & Bird client Heritage Financial Group, Inc., a bank holding company headquartered in Albany, GA, has signed a definitive agreement to be acquired, in an all-stock merger, by Renasant Corporation. The aggregate deal value is approximately $258 million. More >>
Tags: AtlantaChina’s largest bank issues USD5.65 billion equivalent 6.00% AT1 preference shares in three currencies
The Industrial and Commercial Bank of China Ltd. (ICBC), China’s largest lender, issued USD5.65 billion equivalent in aggregate of Basel III-compliant Additional Tier 1 preference shares. Allen & Overy advised ICBC International as Sole Global Coordinator and ICBC International, Goldman Sachs, UBS and Bank of America Merrill Lynch as joint lead managers and joint bookrunners on ICBC’s debut offshore AT1 preference share offering. More >>
Tags: Hong Kong
Simpson Thacher Represents the Initial Purchasers in $400 Million Senior Notes Offering by First Tennessee Bank National Association
The Firm represented Goldman Sachs & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and FTN Financial Securities Corp. as the initial purchasers in connection with the Section 3(a)(2) exempt offering of $400 million aggregate principal amount of 2.950% Senior Notes due 2019 by First Tennessee Bank National Association. More >>
Tags: Simpson Thacher & Bartlett LLP | New York
Shearman & Sterling Advises Lenders on Los Ramones Sur Gas Pipeline
Shearman & Sterling acted as lenders’ counsel for the Pemex and GDF Suez consortium in connection with the approximately $1.1 billion senior secured financing related to the development, construction, operation and maintenance of the Los Ramones Sur gas transportation system. The new system will be comprised of a new natural gas pipeline of approximately 291.5 km in length and 42 inches in diameter and approximately 15.5 km of 16 inch diameter pipeline to be located in central Mexico, commencing at the point of interconnection with the Los Ramones II (Norte) Project located in the Municipality of Villa Hidalgo in the State of San Luis Potosi and terminating at the interconnection point with the 36-inch diameter natural gas pipeline owned by PGPB located in the Municipality of Apaseo El Alto in the State of Guanajuato. More >>
Tags: Shearman & Sterling LLP | New York
Kirkland Advises CHS Capital and Royall & Company in Sale of Royall & Company to Advisory Board Company
Kirkland & Ellis LLP advised CHS Capital and Royall & Company in the sale of Royall & Company, the higher education industry leader in strategic, data-driven student engagement and enrollment management solutions, to the Advisory Board Company (NASDAQ: ABCO), a global, insight-driven technology, research, and services provider. Under the terms of the agreement, the Advisory Board will purchase Royall for $850 million, consisting of $750 million in cash and $100 million in Advisory Board stock. More >>
Tags: Kirkland & Ellis LLP | Chicago | Houston | Los Angeles | New York | Palo Alto | San Francisco | Silicon Valley | Washington
Freshfields advises on US$1.17bn PICC P&C rights issue
International law firm Freshfields Bruckhaus Deringer has advised the underwriters on the US$1.17bn rights issue of PICC Property and Casualty Company Limited (PICC P&C).
PICC P&C, the Chinese state-controlled and China’s leading non-life insurer, has issued around 397.8m H-shares at HK$7.46 per share and 844.6m domestic shares at RMB5.92 per share. PICC P&C has raised a total of RMB7.24bn (US$1.17bn) from the rights issue. More >>
Tags: Freshfields LLP | Beijing | Hong Kong
Akin Gump Advises Alliance Data Systems in $2.3 Billion Acquisition of Conversant
In a deal that closed December 10, Akin Gump advised Alliance Data Systems Corporation in its purchase of Conversant, Inc. for $2.3 billion in cash and stock. More >>
Tags: Akin Gump Strauss Hauer & Feld LLP | Dallas
Stephenson Harwood advises on BTG’s up to $475 million acquisition of Pneumrx
International law firm Stephenson Harwood LLP has advised long standing client BTG Plc (BTG), a specialist healthcare company, on its acquisition of PneumRx Inc (PneumRx), a growing interventional pulmonology business, for an initial cash consideration of $230 million and up to $245 million in performance-related future milestone payments. More >>
Tags: Stephenson Harwood | London
Paul Hastings Represents Real Estate Capital Asia Partners IV in the Formation of $850 Million Fund
Paul Hastings LLP, a leading global law firm, announced today that the firm represented Real Estate Capital Asia Partners IV and its investment manager, SC Investment Management Pte. Ltd., in the formation of an $850 million private investment fund that will focus on real estate investment opportunities across the Asia Pacific region. The Fund held its final closing on December 5, 2014, raising capital from a diverse institutional investor base including, among others, public and private pension funds, endowments and private foundations. Paul Hastings also represented the Fund in establishing a $150 million subscription line credit facility. More >>
Tags: Paul Hastings, LLP | New York