Cravath represented the initial purchasers, led by J.P. Morgan Securities, BofA Merrill Lynch, Goldman, Sachs & Co. and Morgan Stanley, in connection with the US$400 million 144A/Reg. S senior debt offering of TRW Automotive Inc., one of the world’s largest automotive suppliers. The transaction closed on November 21, 2013.
Clifford Chance has advised Norddeutsche Landesbank on the financing of the acquisition of Boards & More Group by the German private equity fund EMERAM Capital Partners.
The seller is the Swiss investment holding company Airesis SA which acquired Boards & More in 2005.
Based in Molln, Austria, Boards & More is one of the world's leading producers of kite surfing, windsurfing and stand up paddling equipment and holder of market leading brands such as North Kiteboarding, Northsails, ION and Fanatic.
Ashurst advised a well-known international bank on the sale of a real estate portfolio consisting of 2,860 accommodation units and 57 industry units to TAG Immobilien AG at a purchase price of €70.5 million. The transaction was characterised by a complex sales structure and was carried out by way of an asset deal.
Davis Polk advised Morgan Stanley & Co. LLC, as sole underwriter, in connection with the SEC-registered secondary offering of 11,879,000 shares of common stock of U.S. Silica Holdings, Inc., which includes 379,000 shares of common stock purchased by the underwriter pursuant to its option to purchase additional shares.
Davis Polk advised Goldman, Sachs & Co. and J.P. Morgan Securities LLC as representatives of the several underwriters in connection with an SEC-registered secondary offering of 5,175,000 shares of common stock of Zeltiq Aesthetics, Inc. by entities affiliated with Advanced Technology Ventures, Aisling Capital III, LP and Venrock Associates V, L.P. The shares of common stock sold included 675,000 shares sold pursuant to the underwriters’ fully exercised option to purchase additional shares. The offering resulted in gross proceeds of approximately $67 million.
DLA Piper has advised on the €750 million re-financing of NH Hoteles, a large Spanish hotel group, and one of the top 25 hotel chains in the world.
NH Hoteles is one of the largest hotel chains in Europe, and operates almost 400 hotels with around 60,000 rooms in 26 countries across Europe, America and Africa.
Davis Polk advised Citigroup Global Markets Inc., RBS Securities Inc., SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc. as the joint book-running managers in connection with a registered offering by Louisville Gas and Electric Company of $250 million aggregate principal amount of 4.65% first mortgage bonds due 2043.
Davis Polk advised Citigroup Global Markets Inc. as representative of the underwriters in connection with a $467.5 million SEC-registered secondary offering of 15,079,448 shares of common stock of CST Brands, Inc. by Valero Energy Corporation. The shares of common stock sold in the offering included shares from the full exercise of the underwriters’ option to purchase additional shares. CST’s shares of common stock trade on the New York Stock Exchange under the symbol “CST.”
Shearman & Sterling represented Banco Nacional de Costa Rica, the largest bank in Costa Rica, in connection with its 144A/Regulation S offering of $500,000,000 aggregate principal amount of its 4.875% Senior Notes due 2018 and $500,000,000 aggregate principal amount of its 6.250% Senior Notes due 2023. This is Banco Nacional de Costa Rica’s first issuance of securities in the international capital markets.
Simpson Thacher represented the underwriters in connection with a registered public offering of $500 million of 5.625% Senior Notes due 2043 issued by WPP Finance 2010, a finance subsidiary of WPP plc. The notes are guaranteed by WPP plc and certain of its subsidiaries.