Davis Polk advised J.P. Morgan Securities LLC and Citigroup Global Markets Inc. as representatives of the underwriters in an SEC-registered offering by Legg Mason, Inc. of $400 million aggregate principal amount of its 5.625% senior notes due 2044.   

Legg Mason is a global asset management company. Acting through its subsidiaries, it provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other pooled investment vehicles. 

Davis Polk advised Banco de Crédito del Perú (BCP), acting through its Panamanian branch, in connection with the reopening of BCP's $200 million fixed-to-floating-rate subordinated notes due 2027, which constitute a further issuance of BCP's $520 million fixed-to-floating- rate subordinated notes due 2027 that were issued on April 24, 2012 and April 9, 2013, pursuant to Rule 144A and Regulation S under the Securities Act.

BCP is the largest commercial bank in Peru, based on total assets, loans, deposits, shareholders' equity and branch network.

Linklaters has been appointed by HM Treasury to advise on the highly anticipated first issue of Sukuk on behalf of the United Kingdom.  This represents a further cementing of London’s position as a leading financial centre for the development of alternative financial services and products acceptable to both Muslim and non-Muslim investors. 

Milbank, Tweed, Hadley & McCloy LLP has represented Canada’s export credit agency Export Development Canada (EDC) in its inaugural offering of green bonds, whose proceeds will support the agency’s lending to environmentally beneficial initiatives worldwide.

The $300 million offering of 0.875% bonds due 2017 closed on January 30.  It is one of the first SEC-registered green bond issuances. J.P. Morgan Securities plc and SEB Securities, Inc. acted as underwriters.

Slaughter and May advised Eesti Energia AS on a EUR 100,000,000 tap of its existing EUR 300,000,000 4.250% notes due 2018. The new notes were issued on 30 January 2014 and bring the total principal amount of its 4.250% notes due 2018 to EUR 400,000,000. The net proceeds of the new notes are to be used for Eesti Energia’s general corporate purposes, including financing Eesti Energia’s capital expenditure programme.

Deutsche Bank and Nordea Markets acted as Joint Bookrunners.

Mayer Brown JSM today said it has advised Trade and Development Bank of Mongolia LLC (“TDB”) in connection with its issuance of CNY700 million 10.00 percent Notes due 2017 pursuant to its existing US$700 million Euro Medium Term Note Programme. This transaction marks the first “dim sum” bond to be issued from Mongolia, and TDB plans to use the proceeds for general lending and investment purposes.

Global law firm White & Case LLP has advised the dealer group on the establishment by Caisse Centrale du Crédit Immobilier de France (3CIF) of its new €8 billion French State Guaranteed Debt Issuance Programme arranged by Deutsche Bank.

Paul Hastings represented Credit Suisse, Deutsche Bank, BBVA, and Santander as initial purchasers in connection with Fibra Uno’s US$1 billion inaugural international debt offering, consisting of US$600 million of 5.250% Senior Notes due 2024 and US$400 million of 6.950% Senior Notes due 2044. Fibra Uno becomes the first Mexican FIBRA to issue debt in the international capital markets in this ground-breaking transaction which also marks the largest debt issuance by a real estate entity in Latin America and the first issuance of 30-year notes by a REIT.

Cravath represented the underwriters, Barclays, Citigroup and Goldman Sachs International, in connection with the US$2 billion registered debt offering of The State Treasury of the Republic of Poland. The notes were listed on the Luxembourg Stock Exchange.

The Cravath team included partner Philip J. Boeckman and associate Coralie Chaufour.

Hogan Lovells assisted EDF in relation to its 100-year bond issue in pound sterling, which enabled EDF to raise GBP 1.350 billion. This bond issue is the first ever of this maturity carried out in pound sterling.