Davis Polk advised PepsiCo, Inc. on its registered offering of $500 million aggregate principal amount of 4.25% senior notes due 2044. Goldman, Sachs & Co., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book-running managers for the offering. More >>
Tags: Davis Polk & Wardwell LLP | New York
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised ING Bank N.V. (“ING”) as sole bookrunner and facility agent for a syndicate of banks on a US$340 million loan facility made available to Euronav NV (“Euronav”).
The facility is comprised of a US$192m term loan facility and a revolving credit facility of up to US$148m. Euronav plans to use the funds to refinance four Suezmax tanker vessels, finance the acquisition of four very large crude carrier tankers from Maersk and for general corporate purposes. The ships financed under the facility are registered on Belgian, Greek and French flags. More >>
Tags: Watson Farley & Williams LLP | London
The Firm recently represented Deutsche Bank, Crédit Agricole, J.P. Morgan, Merrill Lynch and The Royal Bank of Scotland as underwriters’ counsel (and sole international counsel) in connection with the offering by Korea Land & Housing Corporation of its US$500 million 1.875% Senior Unsecured Notes due August 2, 2017, issued under its US$1 billion Global Medium Term Notes Program (the “Program”). The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933, as amended. The Firm also recently acted as dealers’ counsel (and sole international counsel) in the establishment of the Program, where Deutsche Bank acted as the arranger. More >>
Tags: Simpson Thacher & Bartlett LLP | Seoul
Milbank, Tweed, Hadley & McCloy LLP represented international banks acting as initial purchasers in offerings of two series of notes issued by Mexico’s state-owned oil company, Petróleos Mexicanos (Pemex) guaranteed by the US Export-Import Bank.
The bank group for each offering of notes consisted of BNP Paribas, Citigroup and Santander. A series of $500 million floating-rate notes due 2025 was priced with an interest rate of three-month LIBOR plus 35 basis points. A second series of $500 million fixed-rate notes due 2025 was priced with an interest rate of 2.378% per annum. More >>
Tags: Milbank LLP | New York
Herbert Smith Freehills has advised Energy Development Corporation (EDC) on its US$315 million financing of the 150 MW Burgos Wind Farm Project (Burgos).
Burgos is the largest wind farm developed in the Philippines to date and the financing represents not only the first international project financing of a wind farm project in the Philippines to reach financial close but also the first time that the Feed in Tariff (FiT) recently introduced by the Philippines Government has been banked. More >>
Tags: Herbert Smith Freehills Kramer LLPDavis Polk advised IHS Inc. and certain of its subsidiaries in connection with a $1.3 billion unsecured revolving credit facility and $700 million unsecured term loan credit facility with Bank of America, N.A. as administrative agent and JPMorgan Chase Bank, N.A. as syndication agent. The facilities will be used for general corporate purposes. More >>
Tags: New YorkCooley advised NewLink Genetics Corporation in its negotiations with Genentech that resulted in an exclusive worldwide license agreement for the development of NLG919, NewLink’s cancer immunotherapy. The agreement also calls for NewLink and Genentech to engage in a research collaboration for the discovery of next generation IDO/TDO compounds, which represent potential breakthrough approaches to cancer therapy. More >>
Tags: Palo Alto
International law firm Clifford Chance has advised UK Asset Resolution Limited (UKAR) on the sale of a portfolio of performing residential mortgage loans worth £2.7bn to a consortium made up of J.P. Morgan and British specialist lender Commercial First. More >>
Tags: Clifford Chance LLP | London
Porter Hedges has expanded its energy practice with the opening of a new office in Oklahoma City led by partner C. Ray Lees. Mr. Lees’ practice focuses on upstream and midstream oil and gas transactions including mergers, acquisitions & divestitures, joint ventures, finance, and real estate. He joins Porter Hedges along with of counsel Kendra D. Streeter and associates John H. Edwards and David K. Gannaway. More >>
Tags: Porter Hedges LLP | Oklahoma City
Shearman & Sterling advised Morgan Stanley Senior Funding, Inc., Deutsche Bank Securities Inc. and Jefferies Finance LLC as joint lead arrangers and joint bookrunners in connection with a $725 million financing, comprising of a $450 million first lien term loan facility, a $75 million revolving credit facility and a $200 million second lien term loan facility, related to the acquisition of Grocery Outlet Inc. by Hellman & Friedman LLC. More >>
Tags: Shearman & Sterling LLP | New York | Palo Alto