Telenor $500 million public offering

Overview:

• Norwegian mobile telecommunications company Telenor has publicly offered $500 million of stock.
• The issue was done in the US, and the stock consists of Telenor's American Depository Shares (ADS) in Dutch telecommunications company VimpelCom.
• The offering came in conjunction with a $1 billion debt offering of VimpelCom bonds by Telenor offered to parties outside of the US under Rule S.
• Orrick Herrington & Sutcliffe (Peter O'Driscoll, Nell Scott) advised Telenor.
• Latham & Watkins (Tracy Edmonson) advised VimpelCom.
• Cleary Gottlieb Steen & Hamilton (David Gottlieb) represented the underwriters.

Kurt Stumpo - Journalist - North America and the Caribbean