Former US DOJ Tax Division head Kathryn Keneally joining DLA Piper in New York

Thursday, September 18, 2014

DLA Piper announced today that Kathryn Keneally is joining the firm’s global Tax practice as chair of its Civil and Criminal Tax Litigation group. She arrives in October as partner in the New York office.

Recognized as a national leader in the tax and criminal defense bar, Keneally served as Assistant Attorney General for the Tax Division of the US Department of Justice from 2012–2014, where she was responsible for the work of over 350 attorneys. During her tenure, she developed a groundbreaking program to redress past wrongdoing by foreign banks, and she worked closely with federal and state regulators on a precedent-setting prosecution of a large financial institution. She also developed and implemented a comprehensive approach to civil and criminal tax enforcement. Attorney General Eric G. Holder recognized her achievements by awarding her the Edmund J. Randolph Award for outstanding service to the Department of Justice and the nation, the highest honor that the Attorney General may award to a department employee. More >>

Tags:  DLA Piper | New York

Herbert Smith Freehills advises Arrium Limited on its A$754 million entitlement offer

Thursday, September 18, 2014

Herbert Smith Freehills is pleased to have advised Arrium Limited (Arrium) on its A$754 million fully underwritten pro-rata accelerated renounceable entitlement offer including retail rights trading (“PAITREO”) and institutional placement (Offer), announced to the ASX on 15 September 2014. More >>

Tags:  Herbert Smith Freehills Kramer LLP | Brisbane | Melbourne | Perth | Sydney

Glimcher’s $4.3 Billion Acquisition by Washington Prime

Wednesday, September 17, 2014

The Firm is representing Glimcher Realty Trust in connection with its acquisition by Washington Prime Group Inc. in a stock and cash transaction valued at $4.3 billion. Glimcher shareholders will receive, for each Glimcher share, $10.40 in cash and 0.1989 of a share of WPG stock at closing. As part of the transaction, Simon Property Group, Inc. has entered into an agreement to acquire two properties currently owned by Glimcher for an aggregate cash purchase price of $1.09 billion. The transaction is expected to close in the first quarter of 2015. The combined company will be renamed WP Glimcher and will maintain Glimcher’s headquarters in Columbus, Ohio. More >>

Tags:  New York | Washington

Firm Advises Washington Prime Group in $4.3 Billion Acquisition of Glimcher Realty Trust

Wednesday, September 17, 2014

Willkie serves as real estate counsel to WPG in connection with the transaction, which role includes advising WPG on Glimcher’s $1.09 billion simultaneous sale of two malls to Simon Property Group.

On September 16, it was announced that Willkie client Washington Prime Group Inc. and Glimcher Realty Trust entered into a definitive agreement under which WPG will acquire Glimcher in a stock and cash transaction valued at $14.20 per Glimcher common share. The total transaction value, including the assumption of debt, is approximately $4.3 billion. More >>

Tags:  Washington

Paul Hastings Represents Banks in Axtel, S.A.B. de C.V. Bond Offering

Wednesday, September 17, 2014

Paul Hastings LLP, a leading global law firm, announced today that it represented Citigroup and Credit Suisse as initial purchasers in a new $150 million issuance of senior secured bonds in connection with a financing for Mexican telecommunications company Axtel, S.A.B. de C.V. The new financing of senior secured bonds was issued as a reopening of Axtel’s Senior Secured Notes due 2020, which are step-up notes that currently have a coupon of 8% that will rise to 9% on January 31, 2015. In June 2014, the company conducted a consent solicitation of the existing holders of Senior Secured Notes due 2020 to allow this new issuance and additional secured debt to be secured by the same collateral securing the existing Senior Secured Notes due 2020, and Paul Hastings represented Citigroup and Credit Suisse as solicitation agents in that successful consent solicitation. More >>

Tags:  Paul Hastings, LLP | New York

Shearman & Sterling Represents Underwriters in Connection with HSBC Holdings plc’s US$3.75 Billion Inaugural Contingent Convertible Securities Offering

Wednesday, September 17, 2014

Shearman & Sterling represented the underwriters (led by HSBC Securities (USA) Inc.) in connection with HSBC Holdings plc’s inaugural contingent convertible securities offering, comprising an offering of US$1.5 billion aggregate principal amount of 5.625% perpetual subordinated contingent convertible securities (callable January 2020 and every five years thereafter) and US$2.25 billion aggregate principal amount of 6.375% perpetual subordinated contingent convertible securities (callable September 2024 and every five years thereafter). The securities qualify as additional Tier 1 capital instruments under bank regulatory capital rules. More >>

Tags:  Shearman & Sterling LLP | London | Washington

Goodwin Advises Boston Properties on $1.5 Billion Sale of Interests in Boston and New York Properties

Wednesday, September 17, 2014

Goodwin Procter attorneys advised Boston Properties on its announced agreement to sell a 45% interest in each of three properties – 601 Lexington Avenue (New York City), Atlantic Wharf Office Building (Boston), and 100 Federal Street (Boston) – to affiliates of Norges Bank Investment Management for an aggregate, gross purchase price of approximately $1.5 billion. Boston Properties and an affiliate of Norges Bank Investment Management will form a joint venture for each property upon closing, and Boston Properties will retain property and leasing management for the ventures. The transaction is subject to customary closing conditions and is expected to close on or about October 31, 2014. More >>

Tags:  Goodwin Procter LLP | Boston | New York

London and Frankfurt Offices of Bingham McCutchen to Join Akin Gump

Wednesday, September 17, 2014

International law firm Akin Gump today announces that the London and Frankfurt offices of Bingham McCutchen, along with a group of partners from Bingham’s Hong Kong office, will join the firm. With this 22-partner expansion, Akin Gump will grow its London and Hong Kong offices markedly and will also open the firm’s first office in Germany. The move will be effective over the coming weeks.

The move will bring together Akin Gump’s financial restructuring practice in the United States, led by partners Daniel Golden, Ira Dizengoff, Fred Hodara and Mike Stamer, with the London-based leaders of Bingham’s financial restructuring group, partners James Roome, Barry Russell and James Terry. The combination cements Akin Gump’s reputation as the home of a top-tier global financial restructuring practice and adds substantial depth to the firm’s corporate, finance, disputes, regulatory and tax practices while significantly increasing the firm’s international footprint.

The firm further expects to welcome a number of additional attorneys from Bingham soon in London, Hong Kong and Frankfurt. More >>

Tags:  Akin Gump Strauss Hauer & Feld LLP | Frankfurt | Hong Kong | London