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Finance & Banking

King & Wood Mallesons advises the sole sponsor and underwriters on Tianbao Energy’s H-Share Listing

27 Apr 2018

King & Wood Mallesons (KWM) advised the sole sponsor and the underwriters as the Hong Kong counsel on the initial public offering (IPO) and the listing of the H-shares of Tianjin Tianbao Energy Co., Ltd. (Tianbao Energy, Stock Code: 1671) on the Main Board of The Stock Exchange of Hong Kong.

Listed on 27 April 2018, the IPO comprised a share offer and placing of a total of 44.3 million shares, after the offer size adjustment option was exercised. Priced at HK$1.9 per share, the gross proceeds from the share offer and placing was approximately HK$ 84.2 million.

Ashurst advises NordLB and Siemens Bank on the financing of a greenfield wind farm in Basilicata

27 Apr 2018

Ashurst advised Norddeutsche Landesbank Girozentrale, as lender and agent, and Siemens Bank GmbH as lender, on the project financing granted to Lucania Wind Energy S.r.l., recently acquired by Danish company European Energy AS. Part of the facilities were funded by KfW.

The facilities will be used for the construction of a 39 MW wind power plant in Basilicata, one of the few wind farms in Italy under construction which benefits from the incentive tariff.

Clifford Chance Paris acts for the Joint Lead Managers on the Euroclear Investments €700 million dual-tranche senior and corporate hybrid issuance

27 Apr 2018

Clifford Chance has acted for the joint lead managers on the issuance by Euroclear Investments of €300 million 12-year senior bonds (rated AA/AA- by Fitch and Standard and Poor's) and €400 million 30-year corporate hybrid bonds with the first call date at year 10 (rated A+/A by Fitch and Standard and Poor's). The coupons are 1.50% and 2.625% for the senior and hybrid bonds respectively. The bonds, issued on 11 April 2018, were issued under English law and have been admitted to trading on the Irish Stock Exchange plc, trading as Euronext Dublin.

Clifford Chance advises international banking consortium on IPO debt financing for Springer Nature

27 Apr 2018

International law firm Clifford Chance has advised an international banking consortium led by Commerzbank AG, ING Bank, a branch of ING-DiBa AG, Landesbank Baden-Württemberg and UniCredit Bank AG (the latter also as documentation agent) in an IPO syndicated loan financing for publishing group Springer Nature AG & Co. KGaA (formerly Springer Nature GmbH).

The credit facilities made available have a volume of approximately EUR 1.6 billion and approximately USD 848 million respectively.

Hogan Lovells Advised BB Securities and BNP Paribas in Rio Oil Finance Trust’s US$600 Million Offering

27 Apr 2018

Hogan Lovells advised initial purchasers BB Securities and BNP Paribas in the structuring, distribution and issuance of US$600 million in 144A/Regulation S notes issued by Rio Oil Finance Trust, an SPV created for purposes of issuing notes backed by oil royalties allocable to the State of Rio de Janeiro. The offerings are designed to assist the State of Rio de Janeiro and its pension fund RioPrevidência to monetize their future entitlements to national oil royalties.

Travers Smith advises Goldman Sachs and Numis on c.£80m placing for Learning Technologies Group plc

26 Apr 2018

Travers Smith LLP has acted for Goldman Sachs International and Numis Securities in their capacity as joint bookrunners on the £80m placing of new ordinary shares issued by Learning Technologies Group plc (LTG).

The proceeds of the placing are to be used to part fund the proposed acquisition of PeopleFluent Holdings Corp. announced by LTG on 24 April 2018.

BBVA Serves as Administrative Agent in Latin America’s First Green Corporate Loan

25 Apr 2018

New York - Paul Hastings LLP, a leading global law firm, represented BBVA, as Administrative Agent, BBVA Bancomer, as Global Coordinator and Green Agent and the lenders in connection with a $400 million Senior Unsecured Green Term Loan Agreement entered into by Iberdrola México, S.A. de C.V., a subsidiary of the Spanish energy group.  The loan is the first green corporate loan in Latin America.  The proceeds will be used by Iberdrola to finance wind farms and other socially responsible projects in Mexico.

Simpson Thacher Represents Underwriters in US$179.3 Million NYSE IPO of OneSmart Education

25 Apr 2018

The Firm represented the underwriters led by Morgan Stanley in connection with the initial public offering and listing on the New York Stock Exchange of American Depositary Shares (ADSs) of OneSmart International Education Group Limited (“OneSmart Education”). The offering of 16,300,000 ADSs, representing 652,000,000 Class A ordinary shares, raised a total of US$179.3 million in gross proceeds from the IPO before exercise of the underwriters’ overallotment option.

Allen & Overy advises Credit Suisse on $250 million financing for the acquisition of ETF Securities by WisdomTree Investments, Inc.

25 Apr 2018

Allen & Overy represented Credit Suisse as lead arranger in connection with the $250 million acquisition financing for the Jersey-based European exchange-traded commodity, currency and short-and-leveraged business of ETF Securities by WisdomTree Investments, Inc. (NASDAQ: WETF). The financing consists of a $200 million term loan A and a $50 million revolving credit facility.

RTPR Allen & Overy legal adviser of the banks in KMG International financing

25 Apr 2018

BUCHAREST - RTPR Allen & Overy has advised the syndicate of banks made up of ING Bank N.V. through ING Bank N.V. Amsterdam.

Bucharest Branch, Banca Comerciala Romana, Raiffeisen Bank SA and UniCredit Bank SA in relation to a credit facility in amount of USD 360 million granted to KMG International group for covering the regular needs in the group activity.