Davis Polk advised underwriters represented by BNP Paribas, Deutsche Bank AG, London Branch and J.P. Morgan Securities plc in connection with the offering of $2.5 billion aggregate principal amount of notes issued by Merck & Co., Inc. (Merck). The notes were offered in three tranches, maturing in 2021, 2026 and 2034.
Davis Polk advised RBC Capital Markets, LLC, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC as lead managers on an SEC-registered offering by Royal Bank of Canada of $1 billion aggregate principal amount of 1.4% senior notes due 2017 and $300 million aggregate principal amount of senior floating-rate notes due 2017 under its $25 billion medium-term notes program.
Davis Polk advised Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC, as joint book-running managers, in connection with a Rule 144A/Regulation S offering by Zebra Technologies Corporation of $1.05 billion aggregate principal amount of its 7.25% senior notes due 2022.
White & Case LLP has advised Citigroup Global Markets Limited, J.P. Morgan Securities plc and HSBC Bank plc as Lead Managers on the establishment of the Republic of Kazakhstan's US$10 billion Medium Term Note Programme and a subsequent US$2.5 billion issuance under it.
The issuance is the first by the Republic of Kazakhstan in 14 years and consists of a US$1.5 billion series of 3.875 percent Notes due 2024 and a US$1 billion series of 4.875 percent Notes due 2044.
Simpson Thacher represented the initial purchasers, led by Citigroup Global Markets Inc., Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with the private placement of an aggregate principal amount of $500 million 3.300% Senior Notes due 2019 and $600 million 4.550% Senior Notes due 2024 by Keysight Technologies, Inc. in connection with its separation from its parent, Agilent Technologies, Inc.
Shearman & Sterling advised Bank of America, N.A., as administrative agent, and Merrill Lynch, Pierce, Fenner & Smith Incorporated, The Bank of New York Mellon, Mizuho Bank, Ltd and J.P. Morgan Securities LLC, as joint lead arrangers and joint bookrunners, in connection with a $750 million multi-currency financing, including a $375 million four-year credit facility and a $375 five-year credit facility, for Tiffany & Co.
Davis Polk is advising Deutsche Bank Securities Inc. as financial adviser to Penford Corporation in connection with its approximately $340 million acquisition by Ingredion Incorporated. The transaction, which is subject to shareholder and regulatory approvals and other customary closing conditions, could close as early as the end of the year.
White & Case LLP has advised J.P. Morgan and Nomura, acting as global coordinators and bookrunners, on the £725 million senior debt financing package for the Bestway Group's £620 million acquisition of the Co-operative Group's Pharmacy business.
Bestway is a family-owned multinational which includes the UK's second-largest independent wholesale business and both the largest cement manufacturer and second largest private bank in Pakistan. The Co-op Pharmacy chain is the third-largest pharmacy business in the UK, with more than 770 branches nationwide.
Allen & Overy said today that Bank of Communications Co., Ltd. (“BoCom”) USD1.63 billion cross-border Basel III compliant bond, the first by a mainland Chinese bank, highlights the increasing use of international markets by Chinese banks.
Allen & Overy advised Cowen Group, Inc. with respect to regulatory and structuring issues under the U.S. Investment Company Act of 1940 in connection with Cowen's public offering of USD64 million of 8.25% senior notes due 2021 (the “Notes”), including the Notes issued pursuant to the full exercise of the underwriters' option to purchase up to USD8.25m aggregate principal amount of additional Notes on the same terms and conditions.