Clifford Chance's New York office advised HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC as initial purchasers in connection with the issuance of US$750 million 5.550% Notes due 2028 by Transportadora de Gas Internacional S.A. E.S.P. (TGI). The offering was more than three times oversubscribed and the Notes were listed on the Singapore Exchange Securities Trading Limited (SGX-ST). The issuance was made under Rule 144A/Reg S and the proceeds of the Notes were used to redeem TGI's US$750 million 5.700% Notes due 2022. The notes are rated by Fitch, Moody's and S&P.

Davis Polk advised the joint book-running managers and representatives of the underwriters on a registered public offering by Canadian National Railway Company (“CN”) of $650 million aggregate principal amount of its 4.450% notes due 2049. CN offered the notes under the Multijurisdictional Disclosure System for United States and Canadian issuers adopted by the SEC.

Cravath represented the European Investment Bank in connection with its $3 billion registered notes offering. The European Investment Bank, which functions as the bank of the European Union, supports projects that make a significant contribution to growth, employment, economic and social cohesion and environmental sustainability, both in the EU and beyond. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on October 30, 2018.

Simpson Thacher, acting as sole international counsel, represented BNP Paribas, Citigroup Global Markets Inc., Crédit Agricole Corporate and Investment Bank, The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch International and Shinhan Investment Corp., as dealers, in connection with the update of the US$6 billion Global Medium Term Note program of Shinhan Bank.

Allen & Overy advised Oesterreichische Kontrollbank on legal aspects of its public offering of $1.0 billion of 3.125% Guaranteed Global Notes due 2023. The bonds are guaranteed by the Republic of Austria and will be listed on the regulated market of the Luxembourg Stock Exchange.

Davis Polk advised the initial purchasers of a Regulation S offering of high-yield notes by Scenery Journey Limited (a subsidiary of China Evergrande Group) of $565 million aggregate principal amount of its 11.00% senior notes due 2020, $645 million aggregate principal amount of its 13.00% senior notes due 2022 and $590 million aggregate principal amount of its 13.75% senior notes due 2023.

Ashurst advised Skandinaviska Enskilda Banken AB (publ) Frankfurt Branch and HSH Nordbank AG as lenders on the refinancing of the existing facilities and financing of new projects of hGears Holding GmbH with a volume of €50m. Longtime controlling shareholder of hGears is Finatem, a Frankfurt-based independent investment company focusing on SMEs.