Simpson Thacher represented the initial purchasers of $1,540 million in aggregate principal amount of Secured Tower Revenue Securities issued by SBA Tower Trust. The Securities were issued in two subclasses, $920 million in principal amount of Series 2014-1C Securities having a Pass-Through Rate of 2.898% and an anticipated maturity of 5 years and $620 million in principal amount of Series 2014-2C Securities having a Pass-Through Rate of 3.869% and an anticipated maturity of 10 years.

Shearman & Sterling represented Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with (i) an issuance of 4.250% Notes due 2025 in an aggregate amount of U.S. $1,000,000,000 and (ii) an issuance of 5.50% Bonds due 2044 in an aggregate amount of U.S. $1,500,000,000 of Petróleos Mexicanos (Pemex) and guaranteed by its wholly-owned subsidiaries Pemex-Exploración y Producción, Pemex-Refinación and Pemex-Gas y Petroquímica Básica.

Davis Polk advised underwriters represented by BNP Paribas, Deutsche Bank AG, London Branch and J.P. Morgan Securities plc in connection with the offering of $2.5 billion aggregate principal amount of notes issued by Merck & Co., Inc. (Merck). The notes were offered in three tranches, maturing in 2021, 2026 and 2034.  

Davis Polk advised RBC Capital Markets, LLC, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC as lead managers on an SEC-registered offering by Royal Bank of Canada of $1 billion aggregate principal amount of 1.4% senior notes due 2017 and $300 million aggregate principal amount of senior floating-rate notes due 2017 under its $25 billion medium-term notes program. 

Davis Polk advised Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC, as joint book-running managers, in connection with a Rule 144A/Regulation S offering by Zebra Technologies Corporation of $1.05 billion aggregate principal amount of its 7.25% senior notes due 2022.

White & Case LLP has advised Citigroup Global Markets Limited, J.P. Morgan Securities plc and HSBC Bank plc as Lead Managers on the establishment of the Republic of Kazakhstan's US$10 billion Medium Term Note Programme and a subsequent US$2.5 billion issuance under it.

The issuance is the first by the Republic of Kazakhstan in 14 years and consists of a US$1.5 billion series of 3.875 percent Notes due 2024 and a US$1 billion series of 4.875 percent Notes due 2044.

Simpson Thacher represented the initial purchasers, led by Citigroup Global Markets Inc., Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with the private placement of an aggregate principal amount of $500 million 3.300% Senior Notes due 2019 and $600 million 4.550% Senior Notes due 2024 by Keysight Technologies, Inc. in connection with its separation from its parent, Agilent Technologies, Inc.

White & Case LLP has advised J.P. Morgan and Nomura, acting as global coordinators and bookrunners, on the £725 million senior debt financing package for the Bestway Group's £620 million acquisition of the Co-operative Group's Pharmacy business.

Bestway is a family-owned multinational which includes the UK's second-largest independent wholesale business and both the largest cement manufacturer and second largest private bank in Pakistan. The Co-op Pharmacy chain is the third-largest pharmacy business in the UK, with more than 770 branches nationwide.

White & Case LLP has advised Eni S.p.A., as issuer and guarantor, and Eni Finance International S.A., as issuer, on the Italian and English law aspects of the annual update of its €15 billion Euro Medium Term Note Programme.

The White & Case was led by partners Michael Immordino (Milan & London), Paola Leocani and local partner Paul Alexander with support from associate Baldassarre Battista (all Milan).

Shearman & Sterling represented Tembec Industries Inc., a wholly owned subsidiary of Tembec Inc. (“Tembec”), in connection with a Rule 144A/Regulation S offering of $375 million aggregate principal amount of Tembec Industries Inc.’s 9% Senior Secured Notes due 2019 (the “Notes”). The Notes are guaranteed by Tembec and certain of Tembec’s current subsidiaries (other than Tembec Industries Inc.) on a senior secured basis.