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  • Yamana Gold Closes $500 Million Senior Notes Offering

    Capital Markets & SecuritiesTaxCanada

    Paul, Weiss client Yamana Gold Inc. closed an offering of $500 million aggregate principal amount of its 4.950% senior notes due 2024. The offering was made pursuant to exemptions from registration under Rule 144A and Regulation S of the Securities Act of 1933. Yamana is a TSX- and NYSE-listed Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties and land positions throughout the Americas including Brazil, Argentina, Chile, Mexico and Canada.

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  • Baytex Completes Acquisition of Aurora Oil & Gas and Closing of $800 Million Offering of Senior Notes

    Capital Markets & SecuritiesTaxEnvironmentalMergers & AcquisitionsCanada

    Paul, Weiss client Baytex Energy Ltd., a Canadian oil and gas company, announced the closing of an $800 million 144A private placement of senior notes, lead managed by Barclays, BofA Merrill Lynch and RBC Capital Markets and a tender offer for the 9.875% senior notes due 2017 and 7.50% senior notes due 2020 of Aurora USA Oil & Gas, Inc. with Barclays as dealer manager.

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  • Precision Drilling Completes $400 Million High Yield Debt Offering

    Capital Markets & SecuritiesTaxEnvironmentalCanada

    Precision Drilling Corporation completed a Rule 144A and Regulation S offering of its 5.250% senior notes due 2024 for gross proceeds of U.S. $400 million. Precision Drilling Corporation is a Canadian company that provides oil and natural gas drilling and related services and products and specializes in onshore drilling services in all major unconventional oil and natural gas basins. Paul, Weiss represented the underwriters, led by Credit Suisse, RBC Capital Markets and Morgan Stanley, in connection with the offering.

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  • Ivanhoe Mines Completes Concurrent Offering and Private Placement

    Capital Markets & SecuritiesTaxCanada

    Paul, Weiss client Ivanhoe Mines Ltd. announced the closing of its offering of 95,834,100 units at Cdn$1.50 per unit for aggregate proceeds of Cdn$143,751,150. Each unit consists of one common share and one common share purchase warrant. The offering was conducted publicly in Canada and via private placement pursuant to Section 4(a)(2) of the Securities Act in the United States. BMO Nesbitt Burns Inc., CIBC World Markets Inc. and Macquarie Capital Markets Canada Ltd. co-led the syndicate of underwriters for the transaction. Ivanhoe Mines is a mineral exploration and development company whose principal properties are located in South Africa and the Democratic Republic of the Congo.

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  • Game Digital Lists on the London Stock Exchange

    Capital Markets & SecuritiesTax

    As reported in The Financial Times and The Wall Street Journal, GAME Digital plc, a leading omni-channel specialist retailer of video games in the United Kingdom and Spain, completed its listing on the London Stock Exchange and closed its initial public offering. Canaccord Genuity acted as sole sponsor, financial adviser and joint bookrunner. HSBC and Liberum also acted as joint bookrunners. The Paul, Weiss London office was co-counsel to the issuer along with Macfarlanes LLP.

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  • TransAlta Closes $400 Million Public Offering

    Capital Markets & SecuritiesTaxEnvironmental

    Paul, Weiss client TransAlta Corporation closed its public offering in the United States of $400 million of 1.900% senior notes due 2017. HSBC Securities (USA) Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint bookrunning managers.

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  • Turquoise Hill Launches
    $2.4 Billion Rights Offering

    Capital Markets & SecuritiesTax

    Paul, Weiss client Turquoise Hill Resources (formerly known as Ivanhoe Mines), a Canadian mining company with operations focused in the Asia Pacific region and majority-owned by Rio Tinto, launched a $2.4 billion rights offering to repay interim and bridge loans relating to the continuing development of its Oyu Tolgoi copper-gold mine. Oyu Tolgoi is one of the world's largest new copper-gold mines and is located in the South Gobi region of Mongolia. Rio Tinto committed to support the rights offering by exercising its full basic subscription privilege with respect to its ownership of 51 percent of the shares of Turquoise Hill as well as by providing a standby commitment for the full amount of the rights offering, subject to certain conditions.

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