Davis Polk is advising BATS Global Markets, Inc. on its merger with Direct Edge, LLC. The transaction, which is subject to regulatory approvals, is expected to close in the first half of 2014. Financial terms of the transaction were not disclosed.

BATS, which is headquartered in Kansas City, Missouri, is a leading operator of securities markets in the United States and Europe. Headquartered in Jersey City, New Jersey, Direct Edge offers dynamic trading functionality across two distinct platforms, EDGA and EDGX, as well as connectivity and market data services.

Davis Polk advised Citigroup Global Markets Inc, Deutsche Bank AG, Singapore Branch, The Korea Development Bank, Merrill Lynch, Pierce, Fenner & Smith Incorporated and UBS AG, Hong Kong Branch as underwriters in connection with a Schedule B debt offering by Korea Finance Corporation of $500 million in aggregate principal amount of its 2.875% notes due 2018.

Davis Polk advised Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman, Sachs & Co. as dealer managers in connection with a cash tender offer by AngloGold Ashanti Holdings plc for any and all of the 3.5% guaranteed convertible bonds due 2014 issued by AngloGold Ashanti Holdings Finance plc.

Cravath represented the initial purchasers, led by J.P. Morgan Securities and Stephens Inc., in connection with the US$500 million 144A/Reg. S high-yield senior debt offering of Murphy Oil USA, Inc., which is being spun off from Murphy Oil Corporation. The transaction closed on August 14, 2013. Upon completion of the spin-off, Murphy Oil USA, Inc. will be one of the largest independent retailers of gasoline products and convenience merchandise.

Allen & Overy LLP announced today that it has advised the International Finance Corporation (IFC), a member of the World Bank Group, on the commercial agreements related to the development, construction and operation of Mexico’s largest solar power project to date.

Located in the State of Baja California Sur, the Aura Solar I photovoltaic power project has a capacity of 30MW, and is both the first large-scale private solar power project in Mexico and the largest solar power project in the country to date.

Bangkok: Leading international law firm Clifford Chance has advised the lead arranger, Mizuho Bank Limited, on a US$200 million syndicated loan agreement for Bangchak Petroleum Public Company Limited, a Thai oil company listed on the Stock Exchange of Thailand. The funds will be used for Bangchak's future investments into its solar power projects as well for general corporate purposes.

The Firm recently represented the initial purchasers, led by J.P. Morgan Securities LLC and BMO Capital Markets Corp. as joint book-running managers, in a Rule 144A offering by B2Gold Corp. of $258.75 million aggregate principal amount of its 3.25% Convertible Senior Subordinated Notes due 2018. The offering closed on August 23, 2013.

Shearman & Sterling advised Sumitomo Mitsui Banking Corporation and The Bank of Tokyo-Mitsubishi UFJ, Ltd. as mandated lead arrangers in connection with the $146 million cross-border financing for CyT Operaciones SpA, owner of the transmission line, sponsored by Transelec S.A. and connecting the Caserones copper mine owned by SCM Minera Lumina Copper Chile to generation substation facilities. The Caserones transmission line financing was Transelec’s debut project financing.

Mills & Reeve projects team has advised Aviva, one of the UK's leading providers of commercial finance, on four significant new projects this summer totalling over £140 million.

The team advised Aviva on its first two fire station projects, both with Blue3, a Kier-led consortia, for which Aviva provided over £80 million senior debt. The first project to close was to design, build and maintain eleven new fire stations for the Staffordshire Fire and Rescue Service. The second was to design, build and maintain nine new fire stations for the London Fire Brigade.

CMS has acted for Lloyds Banking Group as lender to RSM Tenon Group Plc, a leading accounting and advisory business, in relation to its acquisition by rival Baker Tilly through administration. CMS also advised the administrators, Matt Smith, Nick Edwards and Clare Boardman of Deloitte.

Following completion of the sale, which is subject to certain approvals, Baker Tilly will take on all of Tenon’s 2,300 staff, including its management team. The trading entities of the RSM Tenon group have not entered insolvency proceedings and will continue to operate as usual.