Herbert Smith Freehills has advised CfC Stanbic Bank and other lenders on the project financing of the US$200 million Kwale sugar plantation, refinery and power plant in Kenya, which reached financial close last month.
Herbert Smith Freehills has advised Darwin based Australian Oil and Gas Limited (AOG) in relation to a farm-out to Blue Energy Limited (BUL), of nine exploration permits located in the Wiso Basin, Northern Territory, Australia, a total area of 111,887 square kilometres or 27.6 million acres.
Under the terms of the farm-in, BUL will make an upfront cash payment to cover back costs incurred by AOG and fully fund the 3-stage work program to earn a 50% equity position in the permits.
Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated as the underwriter in connection with an SEC-registered block trade of 5,175,000 shares of common stock of PDC Energy, Inc. The net proceeds from the offering were approximately $276 million. The common stock is listed on the Nasdaq Global Select Market under the symbol “PDCE”.
International law firm Freshfields Bruckhaus Deringer has advised on South African power utility Eskom’s $1bn bond, issued under Eskom's newly established $4bn global medium term programme. Eskom generates, transmits and distributes electricity to industrial, mining, commercial, agricultural and residential customers and redistributors across southern Africa.
The new bond is a senior, unsecured 6.75% global bond that will be due for maturity in 2023. Freshfields advised the joint mandated lead arrangers and managers, Barclays and Citigroup.
Clifford Chance advised KfW IPEX-Bank GmbH and SEB AG on the financing of the Skogberget wind farm project in northern Sweden.
Davis Polk is advising Murphy Oil Corporation in connection with the spinoff of its U.S. retail marketing business, which will be achieved through the distribution of 100% of the shares of Murphy USA Inc. The distribution of Murphy USA shares is expected to be completed after the market close on August 30, 2013, with Murphy Oil shareholders receiving one share of Murphy USA common stock for every four shares of Murphy Oil common stock.
Global legal practice Norton Rose Fulbright has advised Fusion for Energy (F4E), the European Union organisation managing Europe’s contribution to ITER, on a €31 million mechanical handling contract, representing a further important milestone in the construction of its fusion reactor complex at the International Thermonuclear Experimental Reactor (ITER) project in Cadarache, France.
Davis Polk advised San Antonio Internacional, Ltd., a portfolio company of GP Investments, Ltd., in connection with the $122.5 million sale of its subsidiary, San Antonio Internacional Colombia Inc., to Estrella International Energy Services Ltd., an affiliate of Southern Cross Group. The transaction closed on August 1, 2013.
International law firm Stephenson Harwood LLP has advised Soma Oil & Gas (Soma) on its agreement, signed with the Government of the Federal Republic of Somalia on 6th August 2013, to assist in the development of the country’s hydrocarbons sector.