The international law firm Milbank, Tweed, Hadley & McCloy LLP recently advised on two significant international capital markets transactions in the Philippines involving International Container Terminal Services, Inc. (ICTSI) and SMC Global Power Holdings Corp. (SMC Global Power). The two transactions, both completed in August, raised a total of US$750 million, signifying the country’s continuing strong position in the global capital markets despite recent challenging market conditions. More >>

The Hong Kong office of the Firm represented the underwriters in the initial public offering in Hong Kong and Rule 144A/Regulation S offering by HTSC, a joint stock limited liability company established in the PRC under the Chinese corporate name 华泰证券股份有限公司 and carrying on business in Hong Kong as HTSC (“HTSC”). HTSC offered and sold an aggregate of 1,562,768,800 H shares after exercise of the over-allotment option, which raised approximately HK$38.8 billion (US$5 billion) in gross proceeds. The H shares of HTSC are listed on the Hong Kong Stock Exchange. Huatai Financial Holdings (Hong Kong) Limited, J.P. Morgan and UBS acted as joint sponsors; Huatai Financial Holdings (Hong Kong) Limited, J.P. Morgan, UBS, ICBCI, BNP Paribas and CMS acted as jointed global coordinators, joint bookrunners and joint lead managers; and Credit Suisse, Morgan Stanley, Goldman Sachs, Citigroup, Deutsche Bank, Nomura, ABCI, CCBI, GF Securities and Industrial Securities acted as joint bookrunners and joint lead managers. This is the largest IPO globally this year to date. More >>

Deacons recently advised JAC Capital, a subsidiary of JIC Capital – a Chinese state-owned investment company, on a US $1.8 billion acquisition of NXP Semiconductors’ power amplifier business. To date, the transaction is one of the largest outbound technology deals of 2015.

NXP Semiconductors’ business is primarily focused on supplying the mobile communications base station market, but has potential future growth applications in the areas of industrial lighting, next generation cooking and automotive electronic ignition systems. More >>

Davis Polk advised BHP Billiton on investigations conducted by the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Department of Justice (“DOJ”) into potential breaches of the Foreign Corrupt Practices Act (“FCPA”) related to previously terminated minerals exploration and development efforts as well as hospitality provided by the Company to foreign government officials at the 2008 Beijing Olympic Games. The DOJ completed its investigation without taking any action. Today, the SEC announced a settled administrative proceeding related to BHP Billiton’s hospitality program hosted by BHP Billiton in connection with its sponsorship of the 2008 Beijing Olympic Games More >>

Herbert Smith Freehills is pleased to announce that the firm has advised China New Town Development Company Limited (“CNTD”) on a CNY1.3 billion notes issuance on the Hong Kong Stock Exchange More >>