New York, NY-- Paul Hastings LLP, a leading global law firm, announced today that the firm represented a newly formed indirect wholly owned subsidiary of Shuanghui International Holdings Limited (“Shuanghui”), the owner of China’s largest publicly-traded meat processing enterprise, in connection with a $900 million private placement offering of senior notes.
The financing consists of one series of 5.250% senior notes due 2018 in an aggregate principal amount of $500 million and one series of 5.875% senior notes due 2021 in an aggregate principal amount of $400 million.
The proceeds of the offering were deposited into an escrow account. Upon release from escrow, it is expected that the net proceeds will be used to partially fund the $7.16 billion proposed acquisition by Shuanghui of Smithfield Foods, Inc. (“Smithfield”), the largest U.S. publicly-traded pork processor and hog producer.
Leveraged Finance partner Michael Chernick led the Paul Hastings team, which also included associates Melissa Muscat, Ed Holmes, Felicia Yen and Molly Vaughan.
A global team of lawyers from Paul Hastings is advising on all legal issues relating to M&A, employment, finance, global trade and tax in connection with Shaunghai’s proposed acquisition of Smithfield. See our related release here.
Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.