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Finance & Banking

Norton Rose Fulbright advises on a US$847 million loan financing for TEN FPSO project

21 Nov 2013

The Tokyo, London, Amsterdam and Singapore offices of global legal practice Norton Rose Fulbright have advised Japan Bank for International Cooperation (JBIC) and a group of commercial lenders led by Sumitomo Mitsui Banking Corporation (SMBC) on a US$847 million loan facility which will be used to finance a floating production, storage, and offloading unit (FPSO).

White & Case Advises on the Largest Privatisation Transaction Since 2006 and the Largest Public Offering of Local Shares in Russia

20 Nov 2013

Global law firm White & Case LLP acted as the underwriters' counsel in the initial public offering of ALROSA, the world's largest diamond company with listing on the Moscow Stock Exchange. The deal is Russia's largest privatisation transaction since 2006, the largest public offering of local shares in Russia and one of the largest resource sector offerings in recent years. The offering represented a transaction value of RUB41.3 billion roubles (US$1.3 billion).

Simpson Thacher Represents Initial Purchaser in US$500 Million Sovereign Debt Offering for The Dominican Republic

20 Nov 2013

The Firm recently represented Citigroup Global Markets Inc. as initial purchaser in a US$500 Million offering of 6.6000% Amortizing Notes due 2024 issued by The Dominican Republic. The sovereign debt offering was conducted in reliance on Rule 144A and Regulation S.
 
The Simpson Thacher team for the transaction included Jaime Mercado, Jessica Garcia and Fernando Burman (Capital Markets) and Jonathan Cantor and Michael Cardella (Tax).

Simpson Thacher Obtains Dismissal of Lanham Act and Securities Fraud Claims Against Morgan Stanley

19 Nov 2013

The Honorable Jesse M. Furman of the Southern District of New York has issued an opinion and order dismissing Lanham Act, securities fraud, and breach of contract claims filed by Hong Leong Finance Limited, a Singapore financial institution, against Firm clients Morgan Stanley, certain of Morgan Stanley’s affiliates, and Pinnacle Performance Limited.  The Court ruled that the Lanham Act did not apply to defendants’ alleged activities in Singapore.  The Court dismissed all other claims after declining to exercise supplemental jurisdiction over them.
 

Simpson Thacher Represents Underwriters in Initial Public Offering by CommScope Holding Company, Inc.

19 Nov 2013

Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in the initial public offering by CommScope Holding Company, Inc. (“CommScope”), a portfolio company of The Carlyle Group (“Carlyle”), of an aggregate of 38,461,537 shares of its common stock. A total of approximately $576.9 million in proceeds was raised in the offering.

Simpson Thacher Represents Financing Sources in $5.2 Billion of Acquisition Financings for Darling International

19 Nov 2013

The Firm represented JPMorgan Chase Bank, N.A. and the Bank of Montreal in connection with $1.35 billion of committed financing to Darling International Inc. (NYSE: DAR) in its completed acquisition of Rothsay, the rendering and biodiesel division of Maple Leaf Foods Inc., for CAD $645 million.

The Firm is also representing Goldman Sachs Bank USA, JPMorgan Chase Bank, N.A. and Bank of Montreal in an additional $2.5 billion of committed financing to Darling for its announced acquisition of Vion Ingredients, a division of Vion Holding N.V. for €1.6 billion in cash.

Simpson Thacher Represents Initial Purchasers in Offering of US$1.0 Billion Senior Notes by JBS S.A.

19 Nov 2013

The Firm recently represented BB Securities Limited, Banco Bradesco BBI S.A., Banco BTG Pactual S.A. – Cayman Branch, J.P. Morgan Securities LLC and Santander Investment Securities Inc., as initial purchasers, in a sale of US$1.0 billion of 7.75% Senior Notes due 2020 issued by JBS Investments GmbH and unconditionally guaranteed by its parent company JBS S.A., a Brazilian corporation, and JBS Hungary Holdings Kft., a wholly owned subsidiary of JBS S.A.  The offering was conducted in reliance upon Rule 144A and Regulation S.

Clifford Chance advises Joh. Berenberg, Gossler & Co. KG on SURTECO capital increase

19 Nov 2013

Clifford Chance has advised Joh. Berenberg, Gossler & Co. KG on the capital increase of SURTECO SE. This transaction with a total issue volume of about EUR 80 million includes a capital increase against cash with indirect subscription rights, a pre-placement of subscription rights assigned to Berenberg and, possibly, a rump placement of unsubscribed new shares. The subscription offer will presumably end on 14 November 2013.

Shearman & Sterling Advises on Titan International’s $400 Million Secured Notes Offering

18 Nov 2013

Shearman & Sterling represented Goldman, Sachs & Co., Jefferies LLC, William Blair & Company LLC, Oppenheimer & Co. Inc. and BB&T Capital Markets, a division of BB&T Securities, as initial purchasers in connection with the offering by Titan International, Inc. of $400 million of its 6.875% Senior Secured Notes due 2020. The Senior Notes are guaranteed by certain subsidiaries of Titan.