Latham and Davis Polk drive through BMW's $4bn debt issue
US firms win mandates to advise on German carmaker's offering of loan notes to the market
April 27, 2016 at 10:32 AM
2 minute read
Latham & Watkins and Davis Polk & Wardwell have won mandates advising on German carmaker BMW Group's $4bn (£2.7bn) debt offering.
The debt issue earlier this month comprised $1.5bn (£1bn) of notes due 2019, $1.5bn of notes due 2021 and $1bn (£0.7bn) of notes due 2026.
Davis Polk advised the German car manufacturer with a London-based team led by corporate partner John Banes alongside European counsel John Taylor providing UK advice and London tax counsel Alon Gurfinkel.
Latham represented the joint bookrunners: Barclays Capital, Citigroup Global Markets, Credit Suisse Securities and JP Morgan Securities.
The Latham team was led by London capital markets partners Tracy Edmonson and Lene Malthasen and Frankfurt capital markets partner Marcus Funke. New York partner William Lu provided US tax advice.
BMW in-house lawyers Carola Langenhein and Carsten Lammers also advised on the deal.
Davis Polk is also advising the bookrunners on China's largest online direct sales company's first public debt offering. Skadden Arps Slate Meagher & Flom is advising the company making the offering JD.com.
In 2011 Norton Rose and Linklaters advised on BMW's €700m (£604m) acquisition of ING's car leasing and fleet management business. Norton Rose advised longstanding client BMW while Linklaters acted for ING.
BMW Group recorded its best sales month on record in March, selling more than 200,000 cars for the first time in its 100 year history due to a jump in sales to China and South Korea.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Hong Kong Bourse Seeks Feedback on IPO Price Discovery, Takes Steps to Boost Capital Markets Activity
Hogan Lovells, Khaitan Lead On Beverage Company’s $890M Offering In India
Davis Polk, Simpson Thacher and Japan's Big Four Among Firms Engaged In Japanese Chipmaker’s $4.8B IPO
Can Labour's New Budget Steady the Ship? Big Moves On UK Tax Reform and Fiscal Stability
5 minute readTrending Stories
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
