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Banking & Finance - Capital Markets: Debt

Simpson Thacher Represents Initial Purchasers in Offering of $800 Million of Senior Notes by MEG Energy Corp.

29 Oct 2013

The Firm represented Barclays, BMO Capital Markets, Credit Suisse, CIBC, RBC Capital Markets, Morgan Stanley, HSBC Securities, J.P. Morgan and TD Securities as initial purchasers in connection with a 144A/Regulation S offering by MEG Energy Corp. (“MEG”) of $800 million of 7.0% Senior Notes due 2024.  MEG intends to use the net proceeds from the offering for general corporate purposes, including funding its 2014 capital program.

Dentons advises RAK Capital on US$500 million sukuk issuance

28 Oct 2013

Dentons has advised The Government of Ras Al Khaimah, acting through the Investment & Development Office, on its listing of RAK Capital's US$2 billion Trust Certificate Issuance Programme on NASDAQ Dubai, and the subsequent US$500 million sukuk issue under the Programme.

The 5 year, fixed rate Reg S sukuk (rated "A" by Fitch and Standard & Poor's) used an ijara-based structure. Having conducted road shows in the United Arab Emirates, Kuala Lumpur, Singapore and London, high investor demand meant that the issue was heavily oversubscribed.

Shearman & Sterling Advises on Caixa Econômica Federal’s $1.25 Billion Senior Notes Issuance

27 Oct 2013

Shearman & Sterling represented Caixa Econômica Federal, the largest fully government-owned bank in Latin America, in connection with the issuance of US$1,250,000,000, 4.500% senior notes due 2018 under its US$5,000,000,000 medium-term note program. The notes are listed on the Luxembourg Stock Exchange. Banco Bradesco BBI S.A., BB Securities Ltd., Banco BTG Pactual S.A. – Cayman Branch, HSBC Securities (USA) Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc. acted as joint lead managers.

Shearman & Sterling Advises on Nexstar’s $275 Million Senior Notes Offering

27 Oct 2013

Shearman & Sterling represented Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC, RBC Capital Markets, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc. and SunTrust Robinson Humphrey, Inc., as joint bookrunning managers, and Deutsche Bank Securities Inc. and RBS Securities Inc., as co-managers, in connection with a Rule 144A/Regulation S add-on offering of $275 million aggregate principal amount of 6.875% senior notes due 2020 by Nexstar Broadcasting, Inc.

Shearman & Sterling Advises on Bank of Montreal’s $2.5 Billion Medium-Term Notes Offering

27 Oct 2013

Shearman & Sterling represented BMO Capital Markets Corp., Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC as lead underwriters in connection with Bank of Montreal’s registered public offering of $1 billion aggregate principal amount of 2.375% Senior Notes due 2019 and $1.5 billion aggregate principal amount of Floating Rate Notes due 2015 under its US medium-term note program.

Shearman & Sterling Advises on Amgen Inc.’s $10.5 Billion Purchase of Onyx Pharmaceuticals

27 Oct 2013

Shearman & Sterling advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC and J.P. Morgan Securities LLC as joint lead arrangers and joint bookrunning managers in connection with a $5 billion term loan related to Amgen Inc.’s $10.5 billion purchase of Onyx Pharmaceuticals Inc. Concurrently, the firm also represented Bank of America, N.A. in connection with a $3.1 billion sale and repurchase agreement financing transaction related to the acquisition.

Wm. Wrigley Jr. Company's $3 Billion Debt Offering

25 Oct 2013

Cravath represented the initial purchasers, led by BofA Merrill Lynch, Citigroup, J.P. Morgan Securities, Mizuho Securities and Rabo Securities USA Inc., in connection with the US$3 billion 144A/Reg. S debt offering of Wm. Wrigley Jr. Company, the world’s largest manufacturer and marketer of gum and a leader in the non-chocolate confections category. The proceeds from the offering were used to repay borrowings from Mars, Incorporated, fees and expenses related to other refinancing transactions and general corporate purposes. The transaction closed on October 21, 2013.

Paul Hastings Advises Dubai World Subsidiary Infinity World Development Corp. in CityCenter $1.78 Billion Refinancing

25 Oct 2013

Paul Hastings LLP, announced that it represented Infinity World Development Corp., a wholly owned subsidiary of Dubai World, in connection with a successful $1.78 billion refinancing package for CityCenter Holdings, LLC, a 50/50 joint venture of Infinity World and MGM Resorts International.

The refinancing of CityCenter Holdings LLC consists of a $1.7 billion term loan that matures in 2020, as well as a $75 million revolving credit facility that comes due in 2018.

Spirit Pub Company - debt re-profiling proposal

24 Oct 2013

Slaughter and May is advising Spirit Pub Company plc in connection with a debt re-profiling proposal (the "Proposal"). Under the Proposal, holders of Spirit Issuer plc’s existing Class A1 and Class A3 Debenture Bonds are being invited to tender their existing Debenture Bonds for a consideration comprising new Class A6 and Class A7 Debenture Bonds (the "New Debenture Bonds") plus a payment in cash equal to the accrued interest on the tendered Debenture Bonds.