Dealmakers

Russia: heavy metal

The London and Moscow offices of Debevoise & Plimpton advised the three Russian Eurobond issuances this week, raising a collective  US$2.15 billion this week. The three transactions for three  Russian companies  OJSC MMC Norilsk Nickel, Polyus Gold International and OJSC Uralkali follows two earlier offerings where Debevoise acted for longstanding client OJSC Novolipetsk Steel in the Eurobond market.
Norilsk Nickel is the world’s largest producer of Nickel and palladium and a major producer of platinum and cooper. Its placing raised US$750 million through the issuance of 4.375 per cent notes, due in 2018 and was one of the largest Eurobond deals by a Russian non-state owned company made in a Regulation S-only transaction. 
Commenting, Debevoise head of Russian capital markets,  Alan Kartashkin said: ‘The unprecedented number of Russian issuers in the Eurobond market, and the historically low coupon rates they are obtaining, shows increased investor demand for debt securities issued by Russian corporate and confidence in the long-term prospects of the leading Russian companies.’

US: be sure
In an acquisition which would provide Bayer AG with a permanent contraception device to beef up the pharmaceutical company’s offering in women’s health, the company, adviser by Sullivan & Cromwell, is buying Conceptus advised by Latham & Watkins.
The $1.1 billion acquisition of Conceptus’s Essure contraceptive, which features a pair of flexible metal and fiber coils inserted in the fallopian tubes, will see shareholders receive $31 dollars a share in cash. The Sullivan & Cromwell team is headed up by Matthew Hurd who co-heads the healthcare and life sciences group, IP partner Nader Mousavi and tax partner Ronald Creamer. Latham’s corporate team included partners Michael Hall, Josh Dubofsky and Peter Kerman. Jones Day advised Bayer on antitrust matters.

US: the big apple

Hogan Lovells is acting for Apple in what is said to be the largest corporate bond issue ever. The technology company is looking to raise US$17 billion.  US firm Simpson Thacher is advising underwriters Goldman Sachs and Deutsche Bank.

Australia: fly away

Australian firm Gilbert & Tobin has acted for Virgin Australia and Tiger Airways to gain informal clearance form the Australian competition authority so that Virgin Australia can acquire 60 per cent of Tiger Australia. The deal will see the creation of a joint venture between Virgin and Tiger Airways Holdings.
The Gilbert & Tobin team was led by competition and regulation partner Like Woodward and senior lawyers Charles Coorey and Louise Klamka.

China: media savvy

Shearman & Sterling has advised its long-standing client Chinese internet operator Sina Corp on its $586 million sale of 18 per cent of shares in its microblogging service subsidiary Weibo  to e-commerce company Alibaba Group.  Sina has also granted an option to Alibaba to increase its stake in Weibo, valued at $3 billion dollars, to up to 30 per cent within a stipulated time.