CIMB and China Galaxy have completed the sale by CIMB to China Galaxy of a 50 per cent. interest in CIMB Securities International Pte Ltd (“CSI”), the holding company of CIMB’s ex-Malaysia stockbroking business, which comprises institutional and retail brokerage, equities research and associated securities businesses across Indonesia, Singapore, Thailand, Hong Kong, South Korea, India, the United Kingdom and the United States of America. CSI will be rebranded as CGS-CIMB Securities once relevant regulatory approvals are obtained.

Shearman & Sterling advised HSBC Bank, Lloyds Bank, Barclays, Credit Suisse and NatWest Markets as initial purchasers in connection with the offering of £200 million 3.750% notes due 2023 by ZPG Plc.

Shearman & Sterling also advised HSBC Bank, Lloyds Bank, Barclays, Credit Suisse, RBS and Bank of Ireland as mandated lead arrangers and lenders in connection with a new £200 million revolving credit facility made available to ZPG.

Global law firm White & Case LLP has advised Intesa Sanpaolo S.p.A. on a US$2.5 billion issuance of Yankee bonds under its US$50 billion Medium Term Note Programme.

The issuance consists of US$1 billion 3.375% senior notes due 2023, US$1 billion 3.875% senior notes due 2028 and US$500 million 4.375% senior notes due 2048, issued pursuant to Rule 144A under the US Securities Act.

Sidley has advised on the initial public offering of Zhenro Properties Group Limited (Zhenro Properties) on the Stock Exchange of Hong Kong. Our clients were CCB International Capital Limited, Guotai Junan Securities (Hong Kong) Limited and Haitong International Securities Company Limited as the underwriters of the transaction. The total offering amount was HK$3.99 billion (excluding over-allotment).

Cravath represented the European Investment Bank in connection with its $5 billion registered notes offering. The European Investment Bank, which functions as the bank of the European Union, supports projects that make a significant contribution to growth, employment, economic and social cohesion and environmental sustainability, both in the EU and beyond. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on January 17, 2018.

The Firm recently represented Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as dealer managers, in connection with a cash tender offer by Gol Finance, a subsidiary of Gol Linhas Aéreas Inteligentes S.A. (“Gol”), the Brazilian airline, to purchase for cash up to US$50 million in aggregate principal amount of its outstanding 9.25% Senior Notes due 2020. The tender offer expired on January 12, 2018. Approximately US$21.3 million in aggregate principal amount of notes was tendered.

Global law firm White & Case LLP has advised the senior lenders to Chow Tai Fook Enterprises (CTFE) on the financing of its acquisition from Engie and Mitsui of the 1,000MW brown coal-fired power plant Loy Yang B in Victoria, Australia.

TLT has advised Santander on a landmark transaction signalling that the energy storage market is now ripe for debt funding.
The investment sees Santander provide a £28.5m facility to Battery Energy Storage Solutions Limited (BESS), an independent developer, operator and owner of battery storage units in the UK that aims to reach a 100MW portfolio by the end of 2018.

Dentons is pleased to have advised BankDhofar SAOG (BankDhofar) on its recent fully subscribed rights issue of OMR40 million (circa US$104 million). The transaction follows BankDhofar's fully subscribed rights issue in 2016, which Dentons also advised on.

Dentons Managing Partner and Head of Corporate in Muscat, Nick Simpson, led the team, working with assistance from partner Dali Al Habboub, senior associate Darshi Sanganee, associate Fatma Al Rashdi and paralegal Raiyan Al Toky.

Davis Polk advised Sumitomo Mitsui Financial Group, Inc. on its SEC-registered takedown offering of senior TLAC notes, which consisted of $1.5 billion aggregate principal amount of 3.102% senior notes due 2023, $750 million aggregate principal amount of 3.544% senior notes due 2028 and $500 million aggregate principal amount of floating-rate senior notes due 2023. The notes are structured to count as total loss-absorbing capacity (“TLAC”) when TLAC regulations are implemented in Japan.