Simpson Thacher recently represented the dealers in connection with Sumitomo Mitsui Banking Corporation’s (“SMBC”) update of its US$50 billion Global Medium Term Notes Program and the offering of US$1.25 billion of senior fixed rate notes and US$750 million of senior floating rate notes thereunder. The senior notes were guaranteed by SMBC’s New York branch and offered and sold in reliance on the exemption from SEC registration provided in Section 3(a)(2) of the Securities Act.

Kirkland & Ellis International LLP advised Bain Capital Private Equity on its acquisition of Bugaboo International, a Dutch design company that develops and produces mobility products. Bugaboo is particularly well known for its iconic stroller, which it launched in 1999. The transaction, the value of which was not disclosed, signed on February 2, 2018.

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Allen & Overy is advising Goldman Sachs International as the arranger providing the financing for Compagnie Financière Richemont SA (Richemont) as it launches an EUR2.6 billion voluntary public tender offer to acquire all ordinary shares of Yoox Net-A-Porter Group that it doesn’t already own.

De Brauw has acted as Counsel to ING Bank in the acquisition of 75% stake in Payvision.

Client name
ING Bank N.V.
 
Other parties involved
Payvision Holding B.V., Founding management.
 
Nature of transaction
ING has reached agreement to acquire a 75% stake in Payvision, an international omnichannel payments service provider, valued at EUR 360 million. The founding management of Payvision will hold a 25% minority stake and will continue to lead the company. The acquisition allows ING to further invest in the payments business.

Linklaters has advised on the issue of £750 million Bonds due 2118 (the “Bonds”) by The Wellcome Trust, the UK’s largest charitable foundation and one of the world’s largest funders of medical research. The issue of the Bonds launched and priced on 31 January 2018.

J.P. Morgan acted as lead manager and Bank of America Merrill Lynch and Morgan Stanley acted as co-managers in respect of the issue of the Bonds. Linklaters advised the Managers on the transaction.

Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of $2.75 billion aggregate principal amount of its senior notes in three tranches due 2023 (floating rate), 2023 and 2028 (fixed rate). SMFG intends the senior notes to contribute to its total loss-absorbing capacity (TLAC) when TLAC requirements are introduced in Japan.

Simpson Thacher represented the underwriters, acting as sole international counsel, in the offering of US$300 million 3.5% Notes due 2023 by Hankook Tire Co., Ltd. The offering was conducted in reliance upon Regulation S under the U.S. Securities Act of 1933, as amended.

Hankook Tire Co., Ltd. is the largest tire manufacturer in Korea with global operations. Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank and J.P. Morgan Securities plc were joint bookrunners for the offering.

Slaughter and May, Hong Kong, advised Credit Suisse (Hong Kong) Limited, as manager, in relation to the HK$1.27 billion secondary placing of shares in Genscript Biotech Corporation held by KPCB China Fund, L.P. and KPCB China Founders Fund, L.P. The placing represents approximately 2.6% of the issued share capital of Genscript Biotech Corporation.

Genscript Biotech Corporation is a leading biotech company focusing exclusively on early drug discovery and development services and is listed on the Main Board of the Stock Exchange of Hong Kong Limited.

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Latham & Watkins has advised Banca IMI and Credit Suisse, as Joint Global Coordinators, and Equita SIM, as Joint Bookrunner, in connection with the creation of Spaxs, a new Special Purpose Acquisition Company (SPAC) listed on AIM Italia. The offering received orders for €760 million and closed at €600 million.

Latham & Watkins has advised Banca IMI and Credit Suisse, as Joint Global Coordinators, and Equita SIM, as Joint Bookrunner, in connection with the creation of Spaxs, a new Special Purpose Acquisition Company (SPAC) listed on AIM Italia. The offering received orders for €760 million and closed at €600 million.