Slaughter and May advised Just Group plc on its issuance of £230 million Subordinated Tier 3 Notes due 2025. The Notes bear interest at the rate of 3.500 per cent per annum and are listed on the Euro MTF Market of the Luxembourg Stock Exchange.

ABN AMRO, Barclays and NatWest Markets acted as Joint Lead Managers.
Contacts

Financing: Stephen Powell (partner), Caroline Phillips (partner), Andrew Chaplin (associate), Xian Wei Yeo (associate); Tax: William Watson (partner), Jamshed Bilimoria (associate)

Watson Farley & Williams (“WFW”) advised a syndicate of lenders comprising Bankia, CaixaBank and Spanish government-owned SAREB on the financing granted to Redevco Iberian Ventures for its acquisition of a majority stake in the Parque Corredor shopping centre in Madrid. The buyer, a joint-venture between Redevco and Ares Management, closed the deal last week, acquiring a 70% stake in the third largest shopping centre in Madrid.

Watson Farley & Williams (“WFW”) advised a syndicate of lenders comprising Bankia, CaixaBank and Spanish government-owned SAREB on the financing granted to Redevco Iberian Ventures for its acquisition of a majority stake in the Parque Corredor shopping centre in Madrid. The buyer, a joint-venture between Redevco and Ares Management, closed the deal last week, acquiring a 70% stake in the third largest shopping centre in Madrid.

Slaughter and May advised Just Group plc on its issuance of £230 million Subordinated Tier 3 Notes due 2025. The Notes bear interest at the rate of 3.500 per cent per annum and are listed on the Euro MTF Market of the Luxembourg Stock Exchange.

ABN AMRO, Barclays and NatWest Markets acted as Joint Lead Managers.
Contacts

Financing: Stephen Powell (partner), Caroline Phillips (partner), Andrew Chaplin (associate), Xian Wei Yeo (associate); Tax: William Watson (partner), Jamshed Bilimoria (associate)

Herbert Smith Freehills has advised the joint lead managers of Westpac Banking Corporation’s (Westpac) offer of new Additional Tier 1 capital securities known as Westpac Capital Notes 5 (Notes), which will seek to raise up to A$750 million, with the ability to raise more or less (Offer).

Westpac also announced a reinvestment offer under which eligible holders of Westpac CPS may apply to sell some or all of their Westpac CPS and reinvest the proceeds in the Notes (Reinvestment Offer).

Ashurst advised SEB AG on financing the acquisition of Schroth Safety Products (Schroth), a global leader in the development and manufacturing of occupant protection systems for specialised applications in aerospace, motorsports, defense, and medical transport, by international private equity firm Perusa. The purchase was part of a management buyout (MBO) with Perusa Partners Fund 2, L.P. as majority shareholder as well as dedicated Schroth managers from both Germany and the United States of America. Schroth was sold by its parent company TransDigm Group Incorporated.

Global law firm Herbert Smith Freehills has advised the underwriting banks Citigroup (Senior Global Coordinator), HSBC (Global Coordinator), BofAML (Senior Global Bookrunner), Deutsche Bank (Global Bookrunner) and Ak Yatirim (Domestic Lead Manager) on the US$393 million (TL1.48 billion) initial public offering of Enerjisa Enerji A.S. on the Borsa Istanbul.

Shearman & Sterling is advising GE Capital Global Holdings, LLC on its acquisition of a 24.99% stake in YPF Energía Eléctrica (YPF EE) from YPF S.A. When complete, GE Capital and YPF S.A. will jointly control YPF EE. GE Capital will pay $275 million for its stake in YPF EE, in addition to a $35 million contingent payment. The transaction is expected to close by February 28, 2018.

The Shearman & Sterling team below was supported by visiting attorney Javier Napoleone (New York-Project Development & Finance).

Davis Polk advised the dealers in connection with a Rule 144A and Regulation S offering by Banco Safra S.A., acting through its Cayman Islands Branch of $500 million aggregate principal amount of 4.125% senior notes due 2023 under Banco Safra’s medium-term notes program.

Banco Safra is a leading multiple bank ranked as the fourth-largest privately-owned bank in terms of total assets in Brazil.

International law firm McDermott Will & Emery advised a bank consortium consisting of Joh. Berenberg, Gossler & Co. KG und equinet Bank AG on a capital increase of ProCredit Holding AG & Co KGaA. 5,354,408 newly issued shares were placed with qualified investors by way of an accelerated book-building process at a price of EUR 11.40 per new share, resulting in gross proceeds of approx. EUR 61 million. The company’s shares are traded on the Prime Standard segment of the Frankfurt Stock Exchange.