Davis Polk advised Deutsche Bank AG, Singapore Branch as the dealer manager in connection with a tender offer and consent solicitation by Winsway Coking Coal Holdings Limited for all of its US$460.5 million outstanding 8% senior notes due 2016.

Winsway Coking Coal Holdings Limited is a listed company on the Hong Kong Stock Exchange, principally engaged in supplying coking coal in China, the world’s largest and fastest-growing coking coal consuming market, and also one of the leading suppliers of imported coking coal in China.

Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, Wells Fargo Securities, LLC, BMO Capital Markets Corp. and Mitsubishi UFJ Securities (USA), Inc. as joint book-running managers in connection with an SEC-registered debt offering by IntercontinentalExchange Group, Inc., a wholly owned subsidiary of IntercontinentalExchange, Inc., of $600 million aggregate principal amount of its 2.5% senior notes due 2018 and $800 million aggregate principal amount of its 4% senior notes due 2023. IntercontinentalExchange Group, Inc.

Davis Polk advised BOCI Asia Limited, The Royal Bank of Scotland plc, Credit Suisse Securities (Europe) Limited, The Hongkong and Shanghai Banking Corporation Limited and Industrial and Commercial Bank of China (Asia) Limited as managers for a Hong Kong law Regulation S only offering by AVIC International Finance & Investment Limited of its $300 million 4.75% guaranteed bonds due 2018 and $200 million 6% guaranteed bonds due 2023. The bonds are unconditionally and irrevocably guaranteed by AVIC International Holding Corporation.

Davis Polk acted as special counsel to RBC Capital Markets, LLC, Barclays Capital Inc. and Citigroup Global Markets Inc. as joint lead managers on an SEC-registered offering by Royal Bank of Canada of $2 billion aggregate principal amount of 2% covered bonds due 2018. 

Slaughter and May, working as a team with Uría Menéndez, advised Parque Principado, S.L. on its standstill request in respect of a EUR 113,400,000 loan advanced to it by Calyon in 2006 and on the associated consent solicitation made to the holders of notes issued by RIVOLI Pan Europe 1 plc, the CMBS structure into which the loan had been securitised, for approval of the standstill request. The standstill proposal was approved by noteholders on 15 July 2013.

Davis Polk advised Citigroup Global Markets Inc., as representative of the several initial purchasers, in a Rule 144A/Regulation S offering by General Motors Company of $4.5 billion in aggregate principal amount of senior notes, consisting of $1.5 billion in aggregate principal amount of 3.5% senior notes due 2018, $1.5 billion in aggregate principal amount of 4.875% senior notes due 2023 and $1.5 billion in aggregate principal amount of 6.25% senior notes due 2043.

Davis Polk advised Barclays Bank PLC, Citigroup Global Markets Inc. and The Hongkong and Shanghai Banking Corporation Limited as the joint lead managers in connection with the Rule 144A/Regulation S offering by National Savings Bank of its $750 million 8.875% senior notes due 2018. 

Established in 1971, National Savings Bank is one of the largest banks in Sri Lanka in terms of customer reach and third-largest in terms of total customer deposit base. 

Davis Polk advised Marsh & McLennan Companies, Inc. (MMC) in connection with its SEC-registered offering of $500 million of senior notes. MMC will use the net proceeds from the offering for general corporate purposes, which will include the redemption of $250 million of the outstanding principal amount of its 5.75% senior notes due 2015.

Cravath represented Rogers Communications Inc. in connection with its US$1.5 billion registered senior debt offering. Rogers Communications Inc. is Canada’s largest provider of wireless communication services, including cable television, high-speed internet and telephony services, at the time of the offering. The transaction closed on October 2, 2013.

The Cravath team included partners Joseph D. Zavaglia and Erik R. Tavzel.

Slaughter and May, Hong Kong, advised Swire Pacific Limited on the issue by its wholly owned subsidiary, Swire Pacific MTN Financing Limited, of US$700,000,000 4.50%. Guaranteed Notes due 2023. The Notes were issued under Swire Pacific's US$5,000,000,000 Medium Term Note Programme. The Notes are guaranteed by Swire Pacific and are listed on the Hong Kong Stock Exchange. HSBC and J.P. Morgan acted as the Joint Lead Managers and Bookrunners.

CONTACTS

Corporate and Commercial: Laurence Rudge (partner), Catherine Hau (associate)