Gide advises KGHM Polska Miedź on financing worth USD 2.5 billion

Gide’s Warsaw and London offices have successfully completed another project for KGHM Polska Miedź. The largest Polish mining company officially announced an investment loan agreement for USD 2.5 billion for general corporate purposes which was signed on 11 July 2014. This is one of the most significant transactions of its type carried out in Europe this year. The agreement was concluded with a consortium of Polish and international banks, including Crédit Agricole Corporate and Investment Bank, Crédit Agricole Bank Polska, Bank Zachodni WBK, Santander Bank, Bank Polska Kasa Opieki, Bank Handlowy w Warszawie and Powszechna Kasa Oszczędności Bank Polski.

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Tags:  Gide Loyrette Nouel

Ashland Inc.’s $1.8 Billion Sale of Water Technologies Business to Clayton, Dubilier & Rice

On February 18, 2014, Ashland Inc. announced it has signed a definitive agreement to sell Ashland Water Technologies to a fund managed by Clayton, Dubilier & Rice in a transaction valued at approximately US$1.8 billion. Cravath represented Ashland in connection with this transaction, which is expected to close by the end of Ashland’s fiscal year on September 30, 2014, contingent on certain customary regulatory approvals, standard closing conditions and completion of required employee information and consultation processes.

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Chadbourne Advises on US$508 Million of Construction Loans for Two US Wind Projects

Chadbourne & Parke represented the lenders, including the joint lead arrangers Société Générale and Bayerische Landesbank, New York Branch (BayernLB), in a US$222 million construction loan for the 150 MW Border Winds project in Rolette County, North Dakota and a US$286 million construction loan for the 200 MW Pleasant Valley Wind project in Mower and Dodge Counties, Minnesota. Both deals recently reached financial close.

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Cahill Represents Initial Purchasers in $450 Million Notes Offering by Triangle Petroleum

Cahill represented J.P. Morgan, Credit Suisse, and BofA Merrill Lynch as joint book-running managers and Barclays, Citigroup, Johnson Rice & Company, Scotiabank, and Simmons & Company International as co-managers in connection with the Rule 144A offering of $450,000,000 aggregate principal amount of 6.75% Senior Notes due 2022 by Triangle USA Petroleum Corporation, an oil and gas exploration and development company. Proceeds from the offering were used for general corporate purposes.
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Tags:  Cahill Gordon & Reindel LLP

Allen & Overy advises Imperial Tobacco on USD7.1bn acquisition of Reynolds and Lorillard brands

Allen & Overy has advised Imperial Tobacco Group PLC on its transformational acquisition of the U.S. Winston, Kool, Salem and Maverick tobacco cigarette brands and the U.S./UK blu e-cigarette brand from Reynolds American Inc following its acquisition of Lorillard Inc – tripling Imperial’s U.S. market share.
Reynolds has agreed to sell these brands to Imperial on the closing of the Lorillard acquisition in order to assuage potential anti-trust concerns, in a deal that will combine America’s second and third-largest tobacco companies. As part of the deal, British American Tobacco will inject USD4.7bn into the combined Reynolds/Lorillard entity in order to maintain the size of its 42% stake.

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Tags:  Allen & Overy LLP

Milbank Advises Senior Lenders on Financing of a Landmark Carbon Capture/Enhanced Oil Recovery Project in Texas

Milbank, Tweed, Hadley & McCloy LLP represented the lenders in connection with the senior debt financing for the Petra Nova Carbon Capture Project, a groundbreaking $1 billion carbon capture and sequestration (CCS) and enhanced oil recovery (EOR) project that is expected to be the world’s largest facility using captured carbon dioxide from an existing power facility to assist in extracting otherwise difficult-to-reach oil.

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Tags:  Milbank LLP

Paul Hastings Represents Unifin Financiera, S.A.P.I. de C.V., SOFOM, E.N.R. in Inaugural US$400 Million Senior Notes Offering

Paul Hastings LLP, a leading global law firm, represented Unifin Financiera, S.A.P.I. de C.V., SOFOM, E.N.R., a leading Mexican specialty finance company focusing on the operating leasing industry.  The US$400 million international bond offering was Unifin’s first ever financing in the international capital markets.  Unifin specializes in operating leasing, factoring and auto and other lending in Mexico.  The high-yield offering involved the issuance of US$400 million of 6.250% Senior Notes due 2019. The notes were issued pursuant to Rule 144A and Regulation S in an offering heard to be twelve times overscribed.  The underwriters involved were Credit Suisse, Citigroup and Scotiabank.
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Tags:  Paul Hastings, LLP