Capital Markets

In 2005, Orrick's capital markets lawyers structured transactions that allowed companies to achieve their strategic objectives. Our broad experience includes private placements, initial public offerings, investment grade and high-yield debt offerings and structured finance transactions. The breadth and depth of our lawyers' knowledge enable us to manage effectively the capital markets process for clients around the world.

Some of our notable achievements in 2005 included the representation of:

• Bear Stearns & Co. Inc., Banc of America Securities LLC , Citigroup Inc. and JPM organ Chase & Co.
  The initial purchasers in connection with a $4 billion 144A/Regulation S offering of senior notes by Residential Capital Corporation, which is a wholly owned subsidiary of General Motors Acceptance Corporation, which is a wholly owned subsidiary of General Motors. This transaction was named "2005 U.S. Dollar Bond Deal of the Year" by International Financing Review.
• Caterpillar Financial Services Corporation. Caterpillar Financial Services, the financial division and wholly owned subsidiary of Caterpillar Inc., the world's largest manufacturer of construction and mining equipment, natural gas and diesel engines and industrial gas turbines, in a number of transactions, including:
  • a $9 billion medium-term note program;
  • an $800 million global offering of senior notes issued in the United States, Europe and Asia;
  • an $843 million issuance of asset-backed notes, securitizing a pool of retail installment sales contracts and finance leases related to Caterpillar equipment; and
  • a $1 billion specialized retail note program (PowerNotes®).
• Knight-Ridder, Inc. Knight-Ridder, the second-largest newspaper publisher in the United States based on circulation, on the issuance of $400 million of 12-year notes.
• PG&E Corporation. PG&E on a number of capital markets transactions, including:
  • a $1 billion shelf registration statement for PG&E common stock; and
  • the modification of Pacific Gas and Electric Company mortgage indenture for more than $6 billion in bonds, to an unsecured indenture, pursuant to unique fall-away provision.

Initial Public Offerings

Our capital markets lawyers handle equity offerings, including initial public offerings. Some of our notable achievements in 2005 included the representation of:

• Shenzhou International Group Holdings Limited.
  Shenzhou International Group Holdings Limited, one of the largest knitwear manufacturers and exporters in China, in its HK$787.5 million U.S. global offering and listing on the Hong Kong Stock Exchange (HKSE) in which BNP Paribas Peregrine Capital acted as global coordinator and sponsor.
• Deloitte & Touche Corporate Finance. Deloitte & Touche Corporate Finance as a joint sponsor in the IPO and HKSE-listing of a company that supplies apparel and accessories to international brand apparel makers.
• Micrus Endovascular Corporation. Micrus Endovascular Corporation, a provider of implantable and disposable medical devices used in the treatment of cerebral vascular diseases, in its $31 million initial public offering.
• ABN AMRO Rothschild. ABN AMRO Rothschild as a joint sponsor in the pending IPO and HKSE-listing of a developer and operator of
  a premium fashionable department store chain in China.
• CIMB-GK Securities (HK) Li mited and ICEA Capital Limited. CIMB-GK Securities (HK) Limited and ICEA Capital Limited as joint sponsors in the initial public offering and HKSE-listing of One Media Group Limited, a Chinese-language media company which focuses on the Chinese language lifestyle magazine market in Hong Kong and the People's Republic of China. One Media Group Limited was spun off from Ming Pao Enterprise Corporation Limited, a Hong Kong-listed company and publisher of Ming Pao Daily News, one of the most popular Chinese-language newspapers circulated in Hong Kong.
• American Reprographics Company. American Reprographics, a reprographics provider for architectural, engineering and construction firms, in its $174 million initial public offering.
• Gentium S.p.A. Gentium, an Italian biopharmaceutical company focused on developing drugs to treat vascular diseases and conditions related to cancer, in its $21.6 million initial public offering.