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Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) Notes offering/accelerated share repo $2 billion FedEx Corporation JP Morgan Securities; Goldman, Sachs; Morgan Stanley; Merrill Lynch, Pierce, Fenner & Smith; Citigroup Davis Polk & Wardwell - Mario Verdolini, Leslie Altus, Ankur Dalal Simpson Thacher & Bartlett Primary placing of H shares $759 million China Oilfield Services (CNOOC) China International Capital; Credit Suisse; JP Morgan; Goldman Sachs; Morgan Stanley Davis Polk & Wardwell; KangDa Law Firm; Freshfields Burckhaus Deringer Zhong Yin Law Firm Acquisition financing $325 million XPO Logistics & 3PD Credit Suisse Securities Wachtell Lipton Rosen & Katz Davis Polk & Wardwell Incremental facility $300 million Verint Systems Credit Suisse Securities; Deutsche Bank Securities Jones Day Davis Polk & Wardwell - Kathleen Ferrell Common stock offering $192 million Kennedy-Wilson Holdings Deutsche Bank Securities Latham & Watkins; Kulik, Gottesman & Siegel Davis Polk & Wardwell - Lucy Farr, Juelle Gomes Secondary common stock offering $163 million Groupon (LivingSocial) Morgan Stanley Winston & Strawn; Cooley Davis Polk & Wardwell - Rachel Kleinberg, Catherine Paskoff Chang Senior notes offering $150 million K Hovnanian Enterprises Credit Suisse Securities; JP Morgan Securities Simpson Thacher & Bartlett Davis Polk & Wardwell - Lucy Farr, Adam Perry Acquisition financing Undisclosed Platinum Equity Merrill Lynch, Pierce, Fenner & Smith; Credit Suisse Securities Wilkie Farr & Gallagher Davis Polk & Wardwell - Rachel Kleinberg, Vinay Prabhakar

Richard Milnes has joined Grant Thornton in the UK as a financial services tax partner.

The Income Tax Appellate Tribunal (ITAT) has in a recent ruling confirmed the levy of penalty on the offset of tax-exempt capital losses against taxable income in a finding that the claim of the taxpayer was not sustainable in law. In doing so, the ITAT has highlighted some crucial aspects of law concerning levy of tax penalties, explain Sanjay Sanghvi & Ashish Mehta of Khaitan & Co.

A Swiss court has shown that the new era of exchange of information will not be plain sailing for the tax authorities.

Phil Berwick has joined law firm Irwin Mitchell in London as a tax investigations partner.

VDB Loi has become the first foreign law firm with a fully operating office in Myanmar’s capital Nay Pyi Taw.

The tax department of VMW Taxand has rebranded to become Taxand Netherlands. The switch took effect on January 1 2014.

Piergiorgio Valente, managing partner of Valente Associati GEB Partners, discusses a Supreme Court ruling (17955/2013) and its impact on the arm’s-length principle.

French President Francois Hollande is to hit companies with a new charge on annual salaries of more than €1 million ($1.4 million).

A change in the final version of a document critical to compliance with the Foreign Account Tax Compliance Act (FATCA) will allow financial firms to choose which form of due diligence procedures to follow.