DLA Piper has advised Dignity Group (“Dignity”) on its exchange offer and further issue of secured notes which was completed on 17 October 2014.
The bond issue will be followed by a return of circa £64 million to shareholders, equating to £1.20 per ordinary share. Following the transaction the group’s annual debt service costs are expected to reduce from £40 million to approximately £33 million. More >>
Tags: DLA Piper | Birmingham | London
Dentons has advised Oman Oil Company, a national oil investment company wholly owned by the Government of the Sultanate of Oman, on its inaugural corporate borrowing.
Acting as Omani law counsel, Dentons advised OOC on its US$1.85 billion revolving credit facility from over 15 international and local banks together with related corporate governance aspects of OOC’s entry into the facility. The revolving credit facility was split between a US$1 billion three-year tranche and an US$850 million piece with a five-year lifespan. More >>
Tags: Dentons | Muscat
BDT Capital Partners (“BDT”) announced in a filing with the United States Securities and Exchange Commission that BDT had raised approximately $5.2 billion of capital commitments from over 100 investors for BDT Capital Partners Fund II, L.P. and its related parallel partnership vehicles. Cravath represented BDT in connection with the fundraising for Fund II.
The Cravath team included partner David J. Perkins and associate Matthew J. Aldana on corporate matters; partners Andrew W. Needham and Christopher K. Fargo and associate Ashley N. Elnicki on tax matters; and partner Jennifer S. Conway and associate Jonathan J. Katz on ERISA matters.
Tags: Cravath, Swaine & Moore LLP | New York
International law firm Bird & Bird today announced a merger with Sydney based firm Truman Hoyle. The merger will go live on 3 November 2014, bringing the number of Bird & Bird offices around the world to 27. The merger with Truman Hoyle follows a successful cooperation agreement which the two firms entered into in March 2013. More >>
Tags: Bird & Bird LLP | Sydney
Paul Hastings LLP, a leading global law firm, represented the banks in financing the acquisition of the equity interests and certain oil and gas properties of PDC Mountaineer, LLC by Mountaineer Keystone Energy, LLC.
Citigroup Global Markets, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint lead arrangers and bookrunners, and Citibank, N.A., acted as administrative agent, on the financing. The financing consisted of a $110 million first lien reserve-based revolving facility. More >>
Tags: Paul Hastings, LLP | New YorkDavis Polk advised Construtora Norberto Odebrecht S.A. in connection with the construction and joint venture arrangements for the design, engineering, procurement, construction and commissioning of two “clean coal” fired thermoelectric power plants to be located in Punta Catalina, Hatillo, in the Dominican Republic. The power plants are being constructed on behalf of Corporación Dominicana de Empresas Eléctricas Estatales. The Project has been undertaken as a solution to the country’s electricity shortages and high energy prices. More >>
Tags: New York | Sao Paulo
The Firm represented Goldman Sachs in the initial public offering and Rule 144A/Regulation S offering by Hua Hong Semiconductor Limited. Hua Hong sold an aggregate of 228,696,000 ordinary shares in the offering (before greenshoe) and raised gross proceeds of approximately HK$2,572.8 million (US$332.0 million). The ordinary shares of Hua Hong are listed on the Hong Kong Stock Exchange. Goldman Sachs acted as sole sponsor, sole global coordinator and sole bookrunner. More >>
Tags: Simpson Thacher & Bartlett LLP | Hong KongSimpson Thacher recently represented the managers, led by Morgan Stanley & Co. LLC, Mitsubishi UFJ Securities (USA), Inc., Citigroup Capital Markets Inc., and J.P. Morgan Securities LLC, in an offering by Mitsubishi UFJ Trust and Banking Corporation (“MUTB”) of $1.5 billion aggregate principal amount of its fixed rate senior notes due 2017 and 2019. The offering was conducted pursuant to Rule 144A and Regulation S. The notes are listed on the Singapore Exchange. More >>
Tags: Simpson Thacher & Bartlett LLP | Tokyo
Stephenson Harwood celebrated the opening of its new office last night at The British Embassy in Seoul.
Two hundred clients and contacts joined key personnel from Stephenson Harwood at its launch event, which follows from the firm receiving its licence to open in August this year. The firm has for some time acted for some of Korea’s largest conglomerates across shipping, ship-building and ship finance work, banking, and trade sectors. Clients include the Export-Import Bank of Korea, STX Corporation, Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Merchant Marine (HMM), Sungdong Shipbuilding & Marine Engineering, and Korea Line, all of which were represented at the launch. More >>
Tags: Stephenson Harwood | SeoulDavis Polk advised underwriters represented by BNP Paribas, Deutsche Bank AG, London Branch and J.P. Morgan Securities plc in connection with the offering of $2.5 billion aggregate principal amount of notes issued by Merck & Co., Inc. (Merck). The notes were offered in three tranches, maturing in 2021, 2026 and 2034. More >>
Tags: New York