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 >>

Davis 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 >>

Paul Hastings LLP, a leading global law firm, represented the banks in financing the acquisition of The Sleep Train, Inc. and its subsidiaries by Mattress Firm, a leading specialty retailer of mattresses and related products and accessories in the United States with over 1,500 stores in over 36 states. More >>

Weil is advising GLOBALFOUNDRIES in its agreement to acquire IBM’s global commercial semiconductor technology business, including intellectual property and technologists and technologies related to IBM Microelectronics. Following completion, GLOBALFOUNDRIES will also receive $1.5 billion cash over three years from IBM and will become IBM’s exclusive server processor semiconductor technology provider for 22nm, 14nm and 10nm semiconductors for the next 10 years. This acquisition will give GLOBALFOUNDRIES a substantial intellectual property portfolio containing thousands of patents, making it the holder of one of the largest semiconductor patent portfolios in the world. Completion of the transaction is subject to the satisfaction of regulatory requirements and customary closing conditions.
GLOBALFOUNDRIES is the world’s first full-service semiconductor foundry with a global manufacturing footprint, and is the second largest semiconductor foundry in the world. GLOBALFOUNDRIES is owned by Mubadala Development Company PJSC. IBM is a multinational technology and consulting corporation. More >>

Simpson Thacher recently represented HCA Inc. in its high yield offering of $600 million aggregate principal amount of 4.25% Senior Secured Notes due 2019 and $1.4 billion aggregate principal amount of 5.25% Senior Secured Notes due 2025. HCA intends to use the net proceeds for the redemption of a series of its existing secured notes, for related fees and expenses and for general corporate purposes. More >>

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.