Shearman & Sterling represented Morgan Stanley & Co. LLC as the sole book-running manager in connection with the Rule 144A/Regulation S offering of $500 million aggregate principal amount of 5.250% Senior Notes due 2018 and $400 million aggregate principal amount of 5.875% Senior Notes due 2021 of Sun Merger Sub, Inc., to be merged with and into Smithfield Foods, Inc.
Mayer Brown represented the issuer in connection with a $200 million catastrophe bond offering to fund insurance for New York’s Metropolitan Transportation Authority (MTA) covering losses in the event of a storm featuring destructive storm surges, similar to those experienced during Superstorm Sandy in 2012. The MTA is North America’s largest transportation network, serving approximately 15.1 million people in New York and Connecticut.
Herbert Smith Freehills has advised Port of Brisbane, through its financing subsidiary QPH Finance Co Pty Limited, on the establishment of its AUD Medium Term Note Programme and its inaugural issuance of AUD 300 million 5.75%, 7 year senior secured Medium Term Notes (Notes), which settled on 29 July 2013.
The funds raised from the Notes will be used to repay a portion of Port of Brisbane’s existing senior debt and for general corporate purposes.
Shearman & Sterling acted as US and Italian law counsel to J.P. Morgan, UniCredit, Banca IMI and Mediobanca in the high yield bond issue of Manutencoop Facility Management for a total amount of €425 million, and to JPMorgan Chase, Cassa di Risparmio in Bologna, Mediobanca and UniCredit as lenders in the related €30 million Super Senior Revolving Credit Facility.
The Firm represented the initial purchasers, led by J.P. Morgan Securities LLC, in connection with a Rule 144A offering by Gannett Co., Inc. of $600 million of 5.125% Senior Notes due 2020.
Gannett Co., Inc. (NYSE: GCI) is an international media and marketing solutions company, with a portfolio that includes USA TODAY and CareerBuilder.
The Simpson Thacher team for the transaction included Rhett Brandon, Katerina Kousoula, Kyle Scherer (Corporate); Jon Cantor and Drew Purcell (Tax); and Jennie Getsin (Blue Sky).
Ashurst advised MIFA Mitteldeutsche Fahrradwerke AG ("MIFA") as transaction counsel on the successful issue and placement of its corporate bond. The bond with a volume of €25 million, a five-year maturity and a 7.50 per cent. coupon was placed with institutional investors by Equinet Bank AG. From 5 August, it will be included in the Quotation Board of the Frankfurt Stock Exchange. At a later date MIFA is also planning to have the corporate bond included in the Entry Standard for bonds on the Frankfurt Stock Exchange based on a securities prospectus which has yet to be approved.
Simpson Thacher represented a finance subsidiary of Travelex in connection with a Rule 144A and Regulation S offering of £200 million aggregate principal amount of its 8% Senior Secured Notes due 2018 and £150 million aggregate principal amount of its Senior Secured Floating Rate Notes due 2018. Additionally Simpson Thacher represented a subsidiary of Travelex in connection with its entry into a new £90 million Revolving Credit Facility. The transaction closed on August 1, 2013. Travelex used the net proceeds from this offering to refinance outstanding indebtedness.
Jones Day advised Madison Capital Funding LLC in connection with the $80 million senior secured financing for Bendon Publishing International, a publisher of children's books.
For additional information about this matter, please contact: Lisa S. Lathrop, Matthew D. O'Meara
Client(s): Madison Capital Funding LLC
Practice(s): Banking & Finance
Office(s): Chicago, Cleveland
Cravath represented International Business Machines Corporation in connection with its US$2.15 billion registered debt offering of fixed and floating rate notes. The transaction closed on August 1, 2013.
The Cravath team included partner Marc S. Rosenberg, senior attorney G. Douglas Johnson and associate Edward J. Reed.
Cravath represented Picard Groupe S.A.S. in connection with its €480 million 144A/Reg. S high-yield floating rate senior secured debt offering. Picard Groupe S.A.S. is the parent company of Picard Surgeles, the leading retailer of frozen food products in France, and a pioneer in the sector. Picard is a portfolio company of Lion Capital LLP. The transaction closed on August 1, 2013.