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谢尔曼·思特灵律师事务所助力路特斯科技(LOTUS TECHNOLOGY)合并上市(即DE-SPAC)圆满完成

February 23, 2024

谢尔曼·思特灵律师事务所代表豪华电动汽车制造商路特斯科技有限公司(“路特斯科技”)的PIPE(上市后私募投资)发售代理人德意志银行香港分行以及L Catterton Asia AcquisitionLCAA)的资本市场顾问桑坦德美国资本市场有限责任公司(Santander US Capital Markets LLC)经办路特斯科技与LCAA之间的业务合并事宜。

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Shearman & Sterling Ranks Highly in The Texas Lawbook’s 2023 Texas M&A Deal Table

February 16, 2024

Shearman & Sterling ranked highly in The Texas Lawbook’s Law Firm M&A Rankings table for 2023, illustrating the outstanding work of firm attorneys based Houston, Dallas and Austin. The firm finished the year in the top 10 among in all of the Lawbook’s categories for Texas-led and Texas related deals by total number and value.

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The Dow Chemical Company’s $1.25 Billion Inaugural Green Bond Offering

February 14, 2024

Shearman & Sterling represented The Dow Chemical Company, a wholly-owned subsidiary of Dow Inc. (NYSE: DOW), in connection with its offering of $600 million aggregate principal amount of 5.150% notes due 2034 and $650 million aggregate principal amount of 5.600% notes due 2054.

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World’s Largest Orange Bond: Financing Global Gender Equality

February 08, 2024

Shearman & Sterling provided pro bono legal representation to the Impact Investment Exchange (IIX) for the Women’s Livelihood Bond™ 6 (WLB6), the sixth bond in the IIX Women’s Livelihood Bond Series™ (WLB Series). The transaction, which raised $100 million, is a sustainable debt issuance that aligns with the Orange Bond Principles, a set of guidelines developed by a coalition of impact investors and other market participants led by IIX to promote gender-lens investing. Doubling the funds raised in WLB5, WLB6 is the largest Orange bond in the market.

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Mike Walsh, Matthew Modell Shortlisted for 2024 Cross-Border Antitrust Writing Award

February 08, 2024

Shearman & Sterling Antitrust partners Mike Walsh and Matthew Modell were recognized by the 2024 Antitrust Writing Awards for their article entitled “The US Government Proposes New Regulatory Regime for Certain Outbound Investments from the United States.”

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INEOS $3.03 Billion Equivalent Cross-Border Loan and Bond Financing Transactions

February 07, 2024

Shearman & Sterling advised the Administrative Agent and Joint Lead Arrangers in connection with the extension of cross-border Term Loan B facilities to INEOS US Finance LLC and INEOS Finance PLC, consisting of $500 million USD Term Loans and €425 million EUR Term Loans, and on a related amendment transaction.

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American Water $795 Million Secured Seller Note

February 02, 2024

Shearman & Sterling advised American Water Enterprises, LLC, a wholly owned subsidiary of American Water Works Company, Inc., as Lender, on an amendment to upsize its existing Secured Seller Note issued by Lakehouse Buyer Inc., a Delaware corporation. The transaction increased the size of the Secured Seller Note from $720 million to $795 million and effected certain other amendments.

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Kinder Morgan’s $2.25 Billion Notes Offering

February 01, 2024

Shearman & Sterling represented Mizuho Securities USA LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC, as joint bookrunners and representatives of the several underwriters, in connection with Kinder Morgan, Inc.’s offering of $1.25 billion of its 5.000% Notes due 2029 and $1.0 billion of its 5.400% Notes due 2034. The net proceeds from the offering are being used for general corporate purposes, including repayment of commercial paper borrowings and upcoming debt maturities, including commercial paper borrowings incurred on December 28, 2023 to finance the acquisition of STX Midstream.

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$567 Million Delayed Draw Term Loan Facility for Acquisition of Rite Aid’s Elixir business by MedImpact Healthcare Systems

February 01, 2024

Shearman & Sterling advised Bank of America, as Administrative Agent and Lead Arranger, in connection with the issuance, under MI OpCo Holdings, Inc.’s senior secured seller financing, of approx. $567 million of delayed draw term loans provided by Rite Aid Corporation, as the sole initial lender for that facility. The loan obligations were used to pay the purchase price in connection with MedImpact Healthcare Systems, Inc.’s (a subsidiary of the Borrower) acquisition of Rite Aid’s Elixir business pursuant to Rite Aid’s court-supervised sale process under section 363 of the U.S. Bankruptcy Code in connection with Rite Aid’s financial restructuring under Chapter 11 of the U.S. Bankruptcy Code.

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Shearman & Sterling Advises Strategic Sports Group in Partnership with PGA TOUR

January 31, 2024

Shearman & Sterling advised the Strategic Sports Group (SSG) in a partnership with the PGA TOUR to launch PGA TOUR Enterprises, a new commercial venture that will provide nearly 200 PGA tour members with the opportunity to become equity holders of the new company.