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Finance & Banking

Milbank Advises Bank Audi on EBRD’s Acquisition of Shares, Its First-Ever Investment in Lebanon

21 Mar 2018

Milbank, Tweed, Hadley & McCloy LLP’s Global Capital Markets Group advised Bank Audi sal in connection with the European Bank for Reconstruction and Development (EBRD)’s acquisition of Bank Audi common ordinary shares listed on the Beirut Stock Exchange, representing approximately 2.51% of Bank Audi’s total common shares outstanding. The share acquisition constitutes EBRD’s first-ever investment in Lebanon and its first equity investment in a banking institution in the southern and eastern Mediterranean (SEMED) region.

Clifford Chance advises bank syndicate on EGGER EUR 150 million hybrid bond

21 Mar 2018

Clifford Chance has advised a bank syndicate made up of UniCredit Bank AG and Raiffeisen Bank International AG on a hybrid bond issue by EGGER Holzwerkstoffe GmbH.

With a volume of EUR 150 million, the bond will bear interest at 4.875 per cent during the first five years and can be redeemed prematurely by the issuer in December 2022 at the earliest.

EGGER Holzwerkstoffe GmbH, based in St. Johann in Tyrol, Austria, is one of the leading European companies in the wood-based materials industry.

Clifford Chance advises bank syndicate on SAP bonds totalling EUR 1.5 billion

21 Mar 2018

Clifford Chance has advised a bank syndicate made up of J.P. Morgan, Barclays, HSBC, ING, Société Générale and other banks on an SAP SE bond issue.

With a total volume of 1.5 billion, the bonds mature between 2021 and 2030. The bond maturing in 2021 bears variable rates of interest and those maturing in 2026 or 2030 bear interest at 1.000 per cent and 1.375 per cent respectively.

SAP intends to use the proceeds to refinance the acquisition of Callidus Software Inc.

Clifford Chance advises bank syndicate on financing the acquisition of the VTU Group by DPE Deutsche Private Equity

21 Mar 2018

The financial investor DPE Deutsche Private Equity has acquired a majority stake in VTU Engineering. Clifford Chance advised a bank syndicate made up of UniCredit, LBBW and Raiffeisenlandesbank Oberösterreich on financing the acquisition.

VTU is a leading provider of engineering services for planning and optimising process facilities in the pharmaceutical, biotechnology, chemicals, metallurgy, crude oil and natural gas industries. The company has more than 400 employees at 20 locations in Austria, Germany, Switzerland, Italy and Romania.

DXC Technology Company £250 Million Senior Notes Offering

20 Mar 2018

Davis Polk advised the representatives of the several underwriters in connection with the registered offering of £250 million aggregate principal amount of 2.750% senior notes due 2025.

DXC Technology Company is the world’s leading independent, end-to-end IT services company, helping clients harness the power of innovation to thrive on change. DXC serves nearly 6,000 private and public sector clients across 70 countries.

MinterEllison acts for Cashpoint in acquisition of payments and ATM business, Stargroup

20 Mar 2018

MinterEllison has acted for Cashpoint Payment Solutions Pty Ltd (Cashpoint) in the A$8.5million acquisition of the assets of ASX listed ATM business Stargroup Ltd (Stargroup, ASX:STL).

Cashpoint partnered with FC Capital, Stargroup's biggest creditor, to purchase the assets from receivers, KordaMentha, and roll assets into Cashpoint's existing ATM, Cash Management and Payments Technology business.

Stargroup provides end-to-end ATM deployment and electronic payment system services and solutions.