Cravath represented Drax Finco plc in connection with its $300 million 144A/Reg. S high-yield senior secured notes offering. Drax Finco plc is an indirect wholly owned subsidiary of Drax Group plc, a vertically integrated electricity generation and supply business with operations in the UK and U.S. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on April 26, 2018.

Shearman & Sterling advised Malaysian national oil company Petroliam Nasional Berhad (“PETRONAS”) in connection with the completion of an investment by the Saudi Arabian Oil Company (“Saudi Aramco”) in PETRONAS’ Refinery and Petrochemical Integrated Development (“RAPID”) project in Johor State, Malaysia.

A&O represented KCA Deutag on its offering of USD535m senior secured notes due 2022.

Transocean Ltd. (NYSE:RIG) announced today that, through a joint venture with funds managed and/or advised by Hayfin Capital Management LLP (“Hayfin”), it has purchased a 33.3% interest in the West Rigel, a newbuild harsh environment semisubmersible. The total purchase price for the rig, built by Sembcorp Marine Ltd.’s (“Sembcorp”) Jurong Shipyard Pte Ltd, is $500 million.

CMS has acted for Mainstream Renewable Power (“Mainstream) on the disposal of the 450MW Neart na Gaoithe offshore wind farm project to the EDF Group, via EDF Renewables in the United Kingdom, a joint subsidiary of EDF Energy and EDF Energies Nouvelles. Mainstream is the world's leading pure-play renewable energy developer in high growth markets.

Herbert Smith Freehills has advised Acciona on its successful bid to acquire one of Australia’s largest solar projects, the 265MW(AC) Aldoga solar farm in Gladstone, Queensland.

Acciona will develop, finance, construct and operate the solar farm through a 30-year lease with the Queensland State Government.

The substantial scale of this project will also contribute significantly to the Queensland Government’s target of achieving 50 per cent renewable energy by 2030, and will support up to 240 construction jobs and 10 ongoing jobs upon completion.

Milbank, Tweed, Hadley & McCloy advised Star Energy Geothermal (Wayang Windu) Limited (“Star Energy”) in its US$580 million offering of 6.75% green bonds due 2023 under 144A and Regulation S of the Securities Act. The proceeds of the bond issuance will be used to refinance debt of Star Energy that had funded the acquisition of two geothermal assets, the Salak and Darajat geothermal fields.

Davis Polk advised CNOOC Limited as to U.S. and Hong Kong law in connection with the SEC-registered offering of guaranteed notes by CNOOC Finance (2015) U.S.A. LLC, a wholly owned subsidiary of CNOOC Limited, of its $1 billion 4.375% guaranteed notes due 2028 and $450 million 3.750% guaranteed notes due 2023, for a combined aggregate principal amount of $1.45 billion. The notes were listed on the Hong Kong Stock Exchange.