Shearman & Sterling Advises on IPO and First-Ever Mexican REIT Corporate Credit Facility

Shearman & Sterling represented Citigroup Global Markets Inc., Goldman, Sachs & Co. and HSBC Securities (USA) Inc., as the initial purchasers, in connection with the Rule 144A/Regulation S initial public offering of Terrafina, a Mexican real estate investment trust, known by its Spanish acronym as a FIBRA. PREI, the real estate investment management and advisory business of Prudential Financial, Inc., and Terrafina’s internal management team will manage the FIBRA, which holds the third largest industrial portfolio in Mexico. The IPO raised gross proceeds of US$665 million and Terrafina’s real estate investment certificates (CBFI’s in Spanish) are listed on the Mexican Stock Exchange.

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Davis Polk Advises Shire on Its Acquisition of SARcode Bioscience

Davis Polk is advising Shire plc in connection with its acquisition of SARcode Bioscience, Inc. Under the terms of the agreement, Shire will make an upfront payment of $160 million and SARcode shareholders will be eligible to receive additional undisclosed payments upon achievement of certain milestones. The transaction, which is subject to regulatory approval in the United States and other customary closing conditions, is expected to close in the second quarter.

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Simpson Thacher Represents Initial Purchasers in Senior Notes Offering by OI European Group B.V.

The Firm represented the initial purchasers in connection with OI European Group B.V.’s private offering pursuant to Rule 144A and Regulation S of €330 million aggregate principal amount of 4.875% Senior Notes due 2021. The net proceeds are being used to redeem its €300 million 6.875% Senior Notes due 2017. Goldman Sachs International acted as representative of the initial purchasers in the notes offering.

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Tags:  Simpson Thacher & Bartlett LLP | New York

McGuireWoods Strengthens Securities Practice in New York with Partner Hire

McGuireWoods LLP today announced that Stephen Older has joined the firm as a partner in its corporate and securities group in New York. As part of his practice, Older routinely represents both issuers and underwriters in a broad variety of securities transactions and has experience in a number of different industries, including healthcare, consumer and financial services and REITs, and has broad mergers and acquisitions and private equity experience.

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Shearman & Sterling Advises Underwriters in $1.5 Billion Debt Offering by Avon

Shearman & Sterling represented Citigroup Global Markets Inc., Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the several underwriters, in a four-tranche debt offering by Avon Products, Inc. (“Avon”) of $250 million of 2.375% Notes due 2016, $500 million of 4.600% Notes due 2020, $500 million of 5.000% Notes due 2023 and $250 million of 6.950% Notes due 2043. Avon is a global manufacturer and marketer of beauty and related products, having sales operations in 65 countries and territories and distributing products in 43 more. This transaction is the sixth securities offering that Shearman & Sterling has completed in connection with Avon that have raised over $3.7 billion for the company.

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Davis Polk – Discovery Communications, LLC $1.2 Billion Senior Notes Offering

Davis Polk advised J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Credit Suisse Securities (USA) LLC as joint book-running managers and representatives of the several underwriters in connection with an SEC-registered offering of $350 million 3.250% senior notes due 2023 and $850 million 4.875% senior notes due 2043 by Discovery Communications, LLC. The senior notes are guaranteed by the issuer’s indirect parent company, Discovery Communications, Inc.

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Tags:  Davis Polk & Wardwell LLP | New York