The Firm recently represented Deutsche Bank, Crédit Agricole, J.P. Morgan, Merrill Lynch and The Royal Bank of Scotland as underwriters’ counsel (and sole international counsel) in connection with the offering by Korea Land & Housing Corporation of its US$500 million 1.875% Senior Unsecured Notes due August 2, 2017, issued under its US$1 billion Global Medium Term Notes Program (the “Program”). The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933, as amended.

King & Wood Mallesons SJ Berwin advised Tikehau IM on its provision of a unitranche debt package to support the investment of Winch Capital 2 in Maesa. The firm also advised Tikehau IM on its minority investment into the French perfume maker.

Simpson Thacher represented BNP Paribas, Hong Kong Branch, Deutsche Bank AG, Singapore Branch, Goldman Sachs International, Morgan Stanley & Co. International plc and Standard Chartered Bank, as initial purchasers, in connection with the offering of US$300 million 2.00% Notes due April 16, 2018 by Korea Water Resources Corporation. The offering was conducted in reliance upon Regulation S under the Securities Act of 1933, as amended.

Simpson Thacher represented TPC Group Inc. (“TPC”) in connection with its Rule 144A and Regulation S offering of $50 million aggregate principal amount of additional 8.75% Senior Secured Notes due 2020. The deal closed on October 24, 2014. TPC used the net proceeds from this offering to pay down borrowings outstanding under its revolving credit facility.

Simpson Thacher recently represented Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, RBS Securities Inc. and other underwriters in connection with a $500 million offering of debt securities by Wal-Mart Stores, Inc. The offering closed on October 22, 2014.

Paul, Weiss client CDK Global, Inc., formerly the Dealer Services business of Automatic Data Processing, Inc., closed a $750 million offering of senior notes, lead managed by J.P. Morgan, Morgan Stanley, BofA Merrill Lynch and Citigroup. The offering consisted of $250 million of 3.30% senior notes due 2019 and $500 million of 4.50% senior notes due 2024. The net proceeds from the offering of the notes were used to repay outstanding borrowings under CDK Global's bridge loan facility, which was drawn at the time of its separation from ADP.

Allen & Overy said today the RMB3 billion debut bond issue by the UK government represents a significant step in the internationalisation of the Chinese currency and underlines the UK’s global ambition to become a renminbi hub.

The 2.70% three year bonds were almost twice oversubscribed, with strong demand enabling an issue size of RMB3bn, making it the largest ever RMB issue by a non-Chinese issuer. Allocations were made to a wide range of investors including central banks, bank treasuries and fund managers across the world.

Linklaters has advised DBS Bank Ltd. and Haitong International Securities Company Limited in connection with the CNY1 billion 6.40 per cent. Guaranteed Bonds due 2017 issued by Bohai General Capital Ltd and guaranteed by Bohai Steel Group Co., Ltd.

Clifford Chance has advised its longstanding client, the European Bank for Reconstruction and Development, in relation to a senior secured loan of USD 15 million to PJSC "Obolon", one of the largest Ukrainian producers of beer, soft drinks and locally extracted natural mineral water. PJSC "Obolon" has been operating on the market for more than 30 years.

The transaction team was lead by Managing Partner of Clifford Chance Kyiv, Jared Grubb, with significant support from Nadiya Shylienkova (Senior Associate) and Taras Stadniichuk (Junior Associate).

Korean Reinsurance (Korean Re) successfully issued the country’s first offshore Tier 1 subordinated capital securities in the insurance sector, and has established itself as one of the pioneering few Asian insurers to issue regulatory capital securities.

Korean Re has priced a USD200 million perpetual Tier 1 subordinated capital securities at the initial guidance of 4.875%. The coupon is 4.5% (Yield 4.6%, price 99.558%). Allen & Overy advised the lead joint-managers, HSBC and J.P. Morgan.