Hess Energy Trading Company LLC (HETCO), a leading global marketer and trader of energy commodities, announced that funds managed by Paul, Weiss client Oaktree Capital Management L.P. will acquire an interest in the firm held by Hess Corporation. HETCO, which will be renamed, is led by founding partners Stephen Hendel and Stephen Semlitz and partner Guy Merison, all of whom will remain in their current positions. Following the close of the transaction, Oaktree will be the only outside investor in HETCO.

Linklaters advised UniCredit Bank AG and Crédit Industriel et Commercial SA as Lenders on the project financing of a portfolio of two wind farms with a total capacity of 22 MW located in the North of France.

This portfolio was developed by Sorgenia France and was acquired immediately prior to closing by a fund managed by Glennmont Partners (ex-BNPP Clean Energy Partners).

Paul Hastings LLP represented BofA Merrill Lynch as the sole book-running manager and initial purchaser in connection with a $50 million add-on offering of 8.75% senior secured notes due 2022 for TPC Group Inc., a global leader in providing a diverse range of quality products to chemical and petroleum-based companies worldwide.

Leveraged Finance partners Jeff Pellegrino and Michael Michetti led the Paul Hastings team, which also included associates Melissa Muscat, Molly Vaughan and Sean Murray.

Clifford Chance has advised SEB AG on a syndicated loan by SEB AG and IKB Deutsche Industriebank AG for the financing of the acquisition of MEDIAN Kliniken by Waterland Private Equity.

MEDIAN Kliniken is a German clinic operator with medical specialisms in neurological, cardiological, psychosomatic and orthopaedic rehabilitation. The group consists of 45 hospitals across Germany with more than 9,000 beds and around 7,500 employees.

Paul Hastings LLP represented Morgan Stanley & Co. LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC and UBS Securities LLC as representatives of the initial purchasers in connection with the offering of $5.1 billion aggregate principal amount of notes issued in the form of units by Dynegy Finance I, Inc. and Dynegy Finance II, Inc., wholly owned subsidiaries of Dynegy Inc., a producer and distributer of electric energy, capacity and ancillary services in key U.S. markets.
 

Freshfields achieved a major trial win in the Southern District of New York on behalf of a global financial services institution and several individual employees, bringing to a close more than three years of litigation. The lawsuit stemmed from a dispute with a software consultant, which our client engaged back in 2008.

Slaughter and May, London and Hong Kong, advised Standard Chartered on the annual update of its US$70 billion debt issuance programme, under which Standard Chartered PLC, Standard Chartered Bank and Standard Chartered Bank (Hong Kong) Limited have the ability to issue notes to be listed and traded on the London and Hong Kong Stock Exchanges.

CONTACTS

Capital Markets: Nilufer von Bismarck (partner), Andrew Chaplin (associate), David Hay (associate); Corporate and Finance: Laurence Rudge (partner), Gerard Pang (associate); Tax: Charles Osborne (associate)

Weil has won summary judgment for Credit Suisse that dismissed the one remaining claim in a multi-hundred million dollar suit relating to real estate loans. Plaintiffs, which were entities controlled by Highland Capital, brought suit against Credit Suisse in New York Supreme Court alleging that Credit Suisse improperly arranged loans for five resort developments based upon allegedly fraudulent or inflated appraisals provided by third parties. Funds managed by Highland Capital bought interests in these loans.

The Firm recently represented Deutsche Bank, Crédit Agricole, J.P. Morgan, Merrill Lynch and The Royal Bank of Scotland as underwriters’ counsel (and sole international counsel) in connection with the offering by Korea Land & Housing Corporation of its US$500 million 1.875% Senior Unsecured Notes due August 2, 2017, issued under its US$1 billion Global Medium Term Notes Program (the “Program”). The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933, as amended.

Simpson Thacher represented BNP Paribas, Hong Kong Branch, Deutsche Bank AG, Singapore Branch, Goldman Sachs International, Morgan Stanley & Co. International plc and Standard Chartered Bank, as initial purchasers, in connection with the offering of US$300 million 2.00% Notes due April 16, 2018 by Korea Water Resources Corporation. The offering was conducted in reliance upon Regulation S under the Securities Act of 1933, as amended.