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Energy & Utilities

Davis Polk Advises Westar Energy on $250 Million First-Mortgage Bond Offering

21 Aug 2013

Davis Polk advised Westar Energy, Inc. in connection with its SEC-registered offering of $250 million in aggregate principal amount of 4.625% first-mortgage bonds due 2043. The joint book-running managers were Mitsubishi UFJ Securities (USA), Inc., UBS Securities LLC and Wells Fargo Securities, LLC.

Westar Energy is the largest electric utility in Kansas, providing electric generation, transmission and distribution services to approximately 694,000 customers.

Shearman & Sterling Advises on Transelec S.A.’s $300 Million Senior Notes Offering

20 Aug 2013

Shearman & Sterling represented Transelec S.A. in connection with the Rule 144A/Regulation S offering of $300 million aggregate principal amount of its 4.625% Senior Notes due 2023.

Transelec S.A. is the largest power transmission company in Chile, providing power to cities in which 98% of the Chilean population live and to large-scale industrial users and miners.

Simpson Thacher Represents International Transmission Company in $285 Million Mortgage Bonds Offering

20 Aug 2013

Simpson Thacher recently represented International Transmission Company (“ITCTransmission”), a wholly-owned subsidiary of ITC Holdings Corp. (“ITC Holdings”), in connection with its offering pursuant to Rule 144A and Regulation S of $285 million aggregate principal amount of its 4.625% First Mortgage Bonds, Series E, due 2043.  The offering closed on August 14, 2013.

McDermott Advises Irving Oil in $300 Million Joint Venture with TransCanada

19 Aug 2013

McDermott Will & Emery represented Irving Oil, a privately owned regional energy and marketing company that owns and operates Canada’s largest refinery, in forming a joint venture with TransCanada to develop and construct the proposed $300 million Canaport Energy East Marine Terminal at Irving Canaport in Saint John, New Brunswick.  Irving Oil will operate the Canaport Energy East Marine Terminal, which will connect the proposed $12 billion Energy East Pipeline project recently announced by TransCanada to an ice-free, deep water port.

WFW advises Escal UGS S.L on the financing of the Castor energy storage project in Spain

19 Aug 2013

Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised the borrower Escal UGS S.L (“Escal”) on the €1.4 billion financing of the Castor energy storage project in Spain.

Escal owns the Castor underground gas storage project, which will provide storage for 30% of Spain’s daily gas consumption. The project is being developed by Escal, which is owned by the Spanish construction company ACS Group and the Canadian oil and gas company Dundee Energy, and promoted by the Spanish Ministry of Industry.

Shearman & Sterling Advises Underwriters in Cenovus Energy Inc.’s $800 Million Offering of Notes

16 Aug 2013

Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC, as joint book-running managers, BMO Capital Markets Corp., BNP Paribas Securities Corp., CIBC World Markets Corp., Credit Suisse Securities (USA) LLC, RBS Securities Inc. and Scotia Capital (USA) Inc., as senior co-managers, and Mitsubishi UFJ Securities (USA), Inc., Mizuho Securities USA Inc.

Shearman & Sterling Advises on The AES Corporation’s $500 Million Senior Notes Offering, Additional $250 Million Senior Notes Offering and Tender Offers for Four Series of Outstanding Senior Notes

15 Aug 2013

Shearman & Sterling represented Morgan Stanley & Co. LLC, as representative of the several underwriters, in connection with The AES Corporation’s offering of $500 million of its 4.875% Senior Notes due 2023. In a subsequent reopening of the notes, the firm represented Morgan Stanley & Co. LLC, as sole underwriter, in AES’s offering of $250 million of its 4.875% Senior Notes due 2023. The proceeds from both offerings were used to fund concurrent tender offers for four series of AES’s outstanding senior notes identified below.

White & Case Advises South African National Electricity Company on Global Medium Term Note Programme and Inaugural Drawdown

14 Aug 2013

Global law firm White & Case LLP has advised South African national electricity company Eskom Holdings SOC Ltd on the launch of its US$4 billion global Medium Term Note programme and the inaugural US$1 billion Reg S/Rule 144A bond issuance thereunder.

"We were very pleased to work with long term client Eskom on this important transaction for them," said Johannesburg-based partner Steve Raney.

Triton is taking over the energy and infrastructure service provider ALPINE-ENERGIE using the legal advice from Linklaters

13 Aug 2013

Munich, 13 August 2013. Triton is to become the new owner of the German-Austrian energy and infrastructure service provider ALPINE-ENERGIE Holding AG with the assistance of Linklater’s legal consultancy and other leading law firms. Triton is taking over all shares of the company with the domicile being in Linz. The seller is the Spanish company Fomento de Construcciones y Contratas. The take - over will be completely financed by Triton Fond’s equity. The transaction is still under reservation of agreement by the relevant competition authorities.

Royal Dutch Shell - issue of a triple-tranche US$3.75 billion bond under its US shelf programme

13 Aug 2013

Slaughter and May, working as a team with Cravath, Swaine & Moore LLP and De Brauw Blackstone Westbroek, advised Royal Dutch Shell plc on the issue of a triple-tranche US$3.75 billion bond under its US shelf programme. The issue consists of US$1.5 billion 1.900% Fixed Rate Notes due 2018, US$1 billion 3.400% Fixed Rate Notes due 2023 and US$1.25 billion 4.550% Fixed Rate Notes due 2043, in each case issued by Shell International Finance B.V. and guaranteed by Royal Dutch Shell plc. Shell plans to use the proceeds for general corporate purposes.

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