Recent Transactions
September 2014
Travers Thorp Alberga acted as Cayman Counsel to Apache Corporation, one of the largest independent oil and gas exploration and production companies in the world, in connection with the acquisition by YPF S.A. of Apache Argentina’s operations including its Cayman Islands subsidiary.
Travers Thorp Alberga acted as BVI counsel to Itaú BBA S.A. in providing a $370 million loan for construction of a new multipurpose port facility and terminal in Cartagena Bay, Colombia. The new Puerto Bahia terminal is one of the largest investments to date in Colombia’s energy sector.
Travers Thorp Alberga acted as Cayman Islands counsel to Banco do Brasil S.A. acting through its Grand Cayman Branch in respect of the issue of Series 20 Tranche No. 1 CHF 275,000,000 2.500% Senior Notes due 2019 pursuant to the Bank’s US$5,000,000,000 Global Medium-Term Note Program.
Travers Thorp Alberga acted as Cayman Islands counsel to the former owners of the flagship resort Ritz-Carlton Grand Cayman, Michael Ryan and Others, in relation to a complex multi jurisdictional dispute. The case involved, amongst other things, complex issues relating to the enforcement of security against real property in the Cayman Islands.
Travers Thorp Alberga acted as Cayman Islands counsel to Brazilian publicly held company Embraer S.A. (“Embraer”), one of the world’s leading manufacturers of commercial aircraft, in relation to its offer to exchange the existing 6.375% Notes due 2017 and 6.375% Notes due 2020 issued by its finance subsidiary Embraer Overseas Limited (“Embraer Overseas”) and guaranteed by Embraer, for newly issued 5.696% Senior Notes due 2023 issued by Embraer Overseas and guaranteed by Embraer (the “New Notes”).
The exchange offer was successfully completed with the issuance of an aggregate of US$540.5 million of New Notes.
Travers Thorp Alberga represented Hurlstone in Sagicor General Insurance (Cayman) and ors v Hurlstone and ors [2008 C.I.L.R. 482], Hurlstone was eventually awarded the largest mareva damages award to date in the Cayman Islands.
Travers Thorp Alberga is Cayman Islands counsel to Green Dragon Gas, the third largest listed company on AIM by way of capitalization. We advised on two recent convertible note issues and on various company acquisitions. We are also advising on its announced dual listing in Hong Kong, and on its recent share buy-back program.
Travers Thorp Alberga recently advised Gobi Partners on the establishment of a private equity fund for co-investment in the PRC with an RMB fund, together with downstream investments. Singapore’s Media Development Agency is the cornerstone investor.
Travers Thorp Alberga provided Cayman Islands law advice on the establishment of two private equity funds for Generali including one for target investments in the PRC
Travers Thorp Alberga advised in relation to Daqo New Energy’s NYSE IPO which raised US$76 million. Underwriters were led by Morgan Stanley
Travers Thorp Alberga is Cayman Islands and British Virgin Islands counsel to PAG and we advise all of its Cayman Islands and BVI entities, including in respect of its merger with Secured Capital Japan (SCJ), Japan’s leading real estate investment management company, and in respect of the latest launch of PAG Asia I LP, which raised US$1.7 billion for its initial closing in July 2011.
Travers Thorp Alberga advised Mewah International Inc. on its initial public offering of shares on the Singapore Exchange, underwritten by Credit Suisse, BNP Paribas, RHB and UOB.
Travers Thorp Alberga advised the independent committee of the Board of Tongjitang Chinese Medicines Company (NYSE: TCM) on its privatization by way of merger. This was the first time that a listed company had used the newly introduced merger provisions to effect a privatization, and so faced particular scrutiny by the SEC.