Global legal practice Norton Rose Fulbright is acting as international transaction counsel in relation to the announced initial public offering in Egypt and international institutional offering of Arabian Cement Company (ACC) on The Egyptian Exchange. EFG Hermes and CI Capital are acting as Joint Global Coordinators in connection with the offering. ACC, the Egyptian cement producer, is majority-owned by Spain's Cementos La Union.
Davis Polk advised the underwriters led by Deutsche Bank AG, Hong Kong Branch and Citigroup Global Markets Asia Limited as joint sponsors and joint global coordinators for the initial public offering and listing on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S of BAIOO Family Interactive Limited (BAIOO). The gross proceeds from the global offering amounted to approximately HK$1.5 billion (US$195.8 million) without the exercise of the over-allotment option.
Davis Polk advised Credit Suisse Securities (USA) LLC, Barclays Capital Inc, UBS Securities LLC, Macquarie Capital (USA) Inc. and Nomura Securities International, Inc. as joint book-running managers and the initial purchasers in Rule 144A/Regulation S offerings of $275 million principal amount of senior secured notes due 2022 and $660 million principal amount of senior notes due 2022 of WMG Acquisition Corp., a subsidiary of Warner Music Group Corp.
Latham & Watkins advised the Managers and the Delegate on the issuance of US$1.5 billion Certificates due 2024 and US$1 billion Certificates due 2044 by Saudi Electricity Company (SEC). The transaction represents the second sukuk issuance for SEC in 2014, with the company having successfully raised SAR4.5 billion through a public sukuk issuance in the Kingdom of Saudi Arabia in January 2014. Latham advised the Joint Lead Managers on this transaction.
Mayer Brown, a leading global law firm, announced today that it represented BNP Paribas Securities Corp. and HSBC as underwriters on the $432 million issuance of a senior secured project bond by Abengoa Transmisión Sur (ATS). The project comprises the design, construction, development, ownership and operation of a transmission line that will provide power connectivity from Lima to south-western Peru.
Herbert Smith Freehills is pleased to announce that it has advised on a US$1 billion dual-tranche note offering by state-run Oil India Limited. The deal is the largest ever bond issue from an Indian public sector enterprise and also the largest ever Reg S-only issuance by an Indian company.
The firm's team on the transaction, led by Singapore partner Philip Lee, acted for Citi, Deutsche Bank, HSBC, the Royal Bank of Scotland (RBS) and Standard Chartered Bank as joint lead managers.
Clifford Chance advised a banking consortium of Deutsche Bank, HSBC, Commerzbank, LBBW and UniCredit on a EUR 300 million bond issue by Dürr AG. The bond matures in 2021 and the coupon is 2.875%.
Dürr is a global leader in plant engineering and construction. It generates more than 80% of its turnover from business with the car industry, but also supplies the aviation industry, the mechanical engineering sector and chemical and pharmaceutical companies. It has more than 50 sites in 24 countries and employs around 8,200 people and generated EUR 2.4 million in turnover in 2013.
Clifford Chance advised DVB Bank SE and Siemens Financial Services as finance providers for the acquisition of up to 50 locomotives by ELL Group (European Locomotive Leasing). The Austrian-German ELL Group is a provider of full-service locomotive leasing solutions to the European railway industry that was established by investor KKR to address a growing market need. The order is for electric AC/MS locomotives equipped with the European Train Control System, which allows seamless domestic and cross-border traffic.
Davis Polk advised Credit Suisse Securities (USA) LLC and Piper Jaffray & Co. as joint book-running managers in connection with the $48.0 million initial public offering of 3,000,000 shares of common stock of Adamas Pharmaceuticals, Inc. The common stock is listed on the NASDAQ Global Market under the symbol “ADMS.”
Davis Polk advised BBVA Securities Inc. and J.P. Morgan Securities LLC as joint book-running managers on an SEC-registered offering of $400 million aggregate principal amount of 4.25% notes due 2024 by Empresa Nacional de Electricidad S.A. (Endesa Chile).