Davis Polk advised Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as joint book-running managers in connection with an SEC-registered offering by NetApp, Inc. of $500 million aggregate principal amount of 3.375% notes due 2021.
NetApp creates innovative storage and data management solutions that deliver outstanding cost efficiency and accelerate business breakthroughs.
Slaughter and May advised Standard Chartered PLC on its issue of £900 million 5.125% Dated Subordinated Notes due 2034 under its US$57.5 billion Debt Issuance Programme. Barclays, Credit Suisse, Lloyds Bank and Standard Chartered Bank acted as joint lead managers.
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Corporate and Financing: Nilufer von Bismarck (partner), Andrew Chaplin (associate)
Allen & Overy has advised Bharti Airtel International (Netherlands) B.V. as issuer and Bharti Airtel Limited as guarantor on Bharti Airtel International (Netherlands) B.V.’s first dual currency international bond issue under Rule 144A/Regulation S which raised approximately USD2 billion.
The issue involved simultaneous notes offerings of USD1bn and EUR750m. The proceeds will be used by the issuer for the repayment and refinancing of existing foreign currency debt.
Commenting on the deal, partner Amit Singh said:
Allen & Overy LLP advised financial investor Triton on the successful placement of EUR 775 million high-yield bonds in the context of financing the acquisition of the heat exchangers business from the engineering company GEA for approximately EUR 1.3 billion. In terms of turnover, GEA Heat Exchangers is the second largest segment of GEA Group, which is headquartered in Bochum.
DLA Piper's London Debt Finance team has advised Crédit Agricole Corporate and Investment Bank, GE Corporate Finance Bank SAS, HSBC Bank plc, Investec Bank plc, Lloyds Bank plc and The Royal Bank of Scotland plc (the "Senior Club") on their provision of senior debt finance to Education Personnel Holdco Limited and its subsidiaries.
Incumbent sponsor Graphite Capital sold Education Personnel, the UK's leading supplier of teaching and education support staff, to its management team in a buy-out backed by Intermediate Capital Group (ICG) earlier this month.
Shearman & Sterling represented the underwriters, led by RBS Securities Inc., in connection with a global offering by The Royal Bank of Scotland Group plc of US$2.25 billion in aggregate principal amount of 5.125% Subordinated Tier 2 Notes due 2024.
The RBS Group is one of the world’s largest banking and financial services organizations. It is headquartered in Edinburgh and provides a wide range of products and services to personal, commercial and large corporate and institutional customers in over 40 countries.
The Firm represented Seagate Technology plc (“Seagate”) in connection with its Rule 144A and Regulation S offering of $1 billion aggregate principal amount of 4.75% Senior Notes due 2025. The notes were issued by Seagate HDD Cayman, a wholly owned subsidiary of Seagate, and guaranteed by Seagate. Morgan Stanley acted as joint-lead and sole bookrunning manager of the offering.
Cravath represented the underwriters, led by Credit Suisse, in connection with the US$5 billion registered senior debt offering of Credit Suisse AG, a wholly owned subsidiary of Credit Suisse Group, a global financial services company. The transaction closed on May 28, 2014.
The Cravath team included partners Kris F. Heinzelman and David Mercado and senior attorney G. Douglas Johnson.
DLA Piper has advised Rizhao Port Group on the listing of its credit enhanced bonds for RMB850,000,000, with the benefit of a keepwell deed provided by Rizhao Port Group. The bonds are placed by way of debt issue to professional investors only and the listing was effective on 16 May 2014. Agricultural Bank of China International and Barclays acted as Joint Lead Managers and Joint Bookrunners, who were represented by Davis Polk & Wardwell.
Trowers & Hamlins has advised Affordable Housing Finance Plc (AHF), a subsidiary company of The Housing Finance Corporation (THFC), on its recent government-guaranteed bond. The £208 million, 28-year bond carries a ‘AAA’ rating from Standard and Poor's and is believed to be the tightest priced public bond transaction in the affordable housing sector’s 26-year history of accessing private finance.