Sidley has advised the underwriters, led by Morgan Stanley & Co. LLC, in connection with Morgan Stanley’s SEC-registered global offering of $3 billion aggregate principal amount of 3.125% fixed rate senior notes due 2026. The transaction settled on July 25, 2016.

The multi-office Sidley team included partners Michael Kohler and Aryeh Zarchan, securities associates Alex Csordas and Carol Liu, securities partner David Howe and tax partner Nicholas Brown.

Linklaters was pleased to act for underwriters HSBC, JP Morgan, Merrill Lynch and the Bank of China, on Link REIT’s US$500m Green Bond due 2026. This was the first Hong Kong corporate Green Bond and the first Green Bond issued by a property REIT in Asia.

“Linklaters is proud to have been able to assist in the development and execution of this landmark transaction,” said Jonathan Horan, Capital Markets partner, Linklaters

For some time now the delays in paying by the Italian Public Administration have been one of the most critical issues of our economic system.

In some areas, these failings have led to payment delays of several years, and the average payment times in Italy have turned out to be among the longest at a European level (three times the EU average), resulting in a domino effect of liquidity problems for the undertakings supplying the Public Administration.

The Firm represented NXP B.V. and NXP Funding LLC in connection with a Rule 144A and Regulation S offering of $500 million of 4.125% Senior Notes due 2021. NXP intends to use the net proceeds from the offering to repay $200 million aggregate principal amount of its outstanding senior notes due 2016 and use the remainder of the proceeds for general corporate purposes.

Stibbe advises Barclays on the additional notes offering of NXP Semiconductors for an amount of USD 500 million.

The notes are of the same class as the existing USD 850 million senior notes issued in May 2016, on which transaction Stibbe advised as well.

NXP Semiconductors is a global semiconductor manufacturer headquartered in Eindhoven, The Netherlands, and is listed on NASDAQ.

International law firm Watson Farley & Williams (« WFW ») has advised Acofi Gestion, an asset management company, in respect of the €12.5m refinancing, by its fund Predirect EnR 2030, of five wind farms located in northern France which had been developed by Valorem and together have a combined output capacity of 55 MW.

Global law firm Norton Rose Fulbright has advised long-standing client ADLER Real Estate AG (ADLER Real Estate) on the issuance of a convertible bond with a nominal value of approximately EUR 138 million. The convertible bond has a term of five years, a coupon of 2.5 per cent with an issue price of 95 per cent. The proceeds of the issue are primarily used for refinancing existing loans, financing future real estate acquisitions, modernising the company’s real estate portfolio as well as for general business requirements.

Baker & McKenzie has advised TFS Corporation Ltd on the sale of US$250 million aggregate principal amount of 8.75% Senior Secured Notes due 2023 (the "Notes").

The Notes were sold to institutional investors in the United States, Europe and Australia and, following the closing on 27 July 2016, listed on the Singapore Exchange.

Simpson Thacher represented J.P. Morgan Securities LLC and nabSecurities, LLC, as initial purchasers, in connection with an offering by T.F.S. Corporation Ltd (“TFS”) of $250 million in aggregate principal amount of 8.75% Senior Secured Notes due 2023. TFS intends to use the net proceeds from the offering to redeem its outstanding 11% Senior Secured Notes due 2018 and for general corporate purposes, including potential land acquisitions suitable for the cultivation of Indian Sandalwood.

Seoul - Paul Hastings, a leading global law firm, announced today that the firm represented GS Engineering & Construction Corp. (“GS E&C”) in its issuance of US$150 million convertible bonds due 2021, with HSBC acting as the sole underwriter, which closed on July 21. The bonds were listed on the Singapore Exchange.