Shearman And Sterling

News

The Deal Honors Shearman & Sterling with Deal of the Year Awards

September 24, 2021

Shearman & Sterling was recognized with several prominent Deal of the Year awards by The Deal, a publication focused on corporate transactions, dealmakers and their advisers. The awards celebrate the dealmakers shaping the deal economy in 2021.

Perspective

M&A Watch: Contractual Fraud: ‘Too Much Dynamite’ Can Blow Enforceability

September 24, 2021

On August 12, 2021, Vice Chancellor Slights of the Delaware Court of Chancery, in Online HealthNow, Inc. and Bertelsmann, Inc. v. CIP OCL Investments, LLC, et al (Del. Ch. August 12, 2021), denied defendants’ (seller’s) motion to dismiss a buyer’s post-closing fraud claims arising from representations and warranties in a purchase agreement that allegedly were known to be false when made, noting that a seller may not use a limitation of liability clause in a contract obtained by fraudulent inducement to bar a buyer’s fraudulent contract claim.

News

Radiance Capital Investments Limited’s $300 Million Senior Green Notes Offering

September 24, 2021

Shearman & Sterling represented the initial purchasers in connection with Radiance Capital Investments Limited’s offering of $300 million 7.8% senior green notes due 2024.

Event

Shearman & Sterling Partners to Speak at 17th Annual Boardroom Summit

September 24, 2021

Shearman & Sterling was proud to be a knowledge partner of the Corporate Board Member at its 17th annual Boardroom Summit & Peer Exchange. On September 24, our Global Managing Partner George Casey led a discussion on “The Board’s Role in Improving M&A Deal Outcomes” with Emily Peterson Alva, Board member of Alkermes, Amneal Pharmaceuticals, Inc. and Atlanta Life Insurance Company and partners Alan Goudiss and Derrick Lott.

News

Sound Transit’s $1.6 Billion Downtown Redmond Link Extension And Refinancing

September 23, 2021

Shearman & Sterling advised the U.S. Department of Transportation in connection with the extension of an approximately $521 million secured loan to the Central Puget Sound Regional Transit Authority to fund a portion of the Downtown Redmond Link Extension Project in Seattle, Washington.

Perspective

Closure of DIFC-LCIA Arbitration Centre Causes Uncertainty

September 23, 2021

By Decree No. 34 of 2021, effective as of September 20, 2021, Dubai has abolished the DIFC-LCIA Arbitration Centre (DIFC-LCIA) and the Emirates Maritime Arbitration Centre (EMAC) and seeks to fold their assets and operations into the Dubai International Arbitration Centre (DIAC).

Perspective

Podcast: Refinitiv LPC’s Lender Spotlight Series

September 22, 2021

Join our panel of Shearman & Sterling partners as they discuss large cap and direct lender perspectives from the unique position of having both borrower and lender side capabilities, hosted by Refinitiv LPC. Presented by moderator Tomasz Kulawik (Washington, DC-Finance) and panelists Heather Waters Borthwick and Gus Atiyah (both New York-Finance).

News

Ontario Teachers’ $2 Billion Senior Notes Offering

September 21, 2021

Shearman & Sterling advised BofA Securities, CIBC World Markets, Citigroup and RBC Capital Markets, as joint book-running managers, and BMO Capital Markets, Morgan Stanley, National Bank of Canada Financial Markets, as co-managers, in connection with Ontario Teachers’ Finance Trust’s U.S. Rule 144A/Regulation S private placement of $2 billion aggregate principal amount of 0.875 percent senior notes due 2026.

News

Electricidad Firme de México Holdings’ Senior Secured Notes Offering

September 20, 2021

Shearman & Sterling advised J.P. Morgan Securities, Mizuho Securities USA and Scotia Capital (USA), as initial purchasers in connection with a Rule 144A/Reg S offering of $350 million 4.900 percent senior secured notes due 2026 by Electricidad Firme de México Holdings, holding company of Saavi Energia, the fourth largest private power company by generation in Mexico.

News

Celeo Redes’ and APG’s $1.1 Billion Acquisition of Colbún Transmisión

September 20, 2021

Shearman & Sterling advised J.P. Morgan Securities, as sole global coordinator and joint bookrunner, and Citigroup Global Markets, Santander Investment Securities, SMBC Nikko Securities America, as joint bookrunners, in connection with a Rule 144A/Regulation S offering of $1.1 billion 4.550 percent senior secured notes due 2051 issued by Alfa Desarrollo (Alfa), a newly formed company wholly-owned indirectly by Celeo Redes and certain investment funds managed by APG to consummate the $1.35 billion acquisition of Colbún Transmisión.