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Finance & Banking

Allen & Overy advises on Oil India Limited’s USD550 million bond offering

16 Feb 2019

Allen & Overy advised the joint lead managers in Oil India Limited’s USD550 million 5.125% bond offering, which was issued under Regulation S of the U.S. Securities Act of 1933.

Oil India Limited is the second largest national oil and gas company in India as measured by total proved plus probable oil and natural gas reserves and production. The joint lead managers consisted of Barclays Bank PLC, The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank, Mizuho Securities Asia Limited and MUFG.

Milbank Advises on First US-Backed Climate Bonds Initiative Issuance in Southeast Asia Listed on Singapore Stock Exchange

15 Feb 2019

Milbank, Tweed, Hadley & McCloy LLP represented Bank of America Merrill Lynch, HSBC and CLSA as joint arrangers and dealers in connection with the establishment of a US $1 billion medium term note program (“MTN”) issued by Cayman Island-based AC Energy Finance International Limited and guaranteed by Philippines-based AC Energy, Inc. (“AC Energy”), and the issuance of two series of notes totaling US$410 million.

BEITEN BURKHARDT ADVISES SUBSIDIARY OF FRANKFURTER VOLKSBANK ON ACQUISITION OF 'VOLTAPARK' PROJECT IN FRANKFURT

15 Feb 2019

Frankfurt am Main, 14 February 2019 – The international law firm BEITEN BURKHARDT has advised a subsidiary of Frankfurter Volksbank   Germany's second largest Volksbank   on the acquisition of the 'Voltapark' project in Bockenheim, one of Frankfurt's city districts, by way of a forward deal. The seller has engaged BFL Investment to take over the entire project development as general contractor for the building project, and to manage the sales process. The parties have agreed to keep the transaction volume confidential.

Smurfit Kappa's High-Yield Senior Notes Offering

14 Feb 2019

Cravath represented the initial purchasers, led by Citigroup and NatWest Markets, in connection with the EU400 million Regulation S high-yield senior notes add-on offering of Smurfit Kappa Acquisitions Unlimited Company, a wholly owned subsidiary of Smurfit Kappa Group plc, one of the world's largest integrated manufacturers of paper-based packaging products. The notes were listed on the Irish Stock Exchange. The transaction closed on February 4, 2019.

White & Case Advises Goldman Sachs on Acquisition by Credito Fondiario and Elliott of €7.8 Billion NPL Portfolio

14 Feb 2019

Global law firm White & Case LLP has advised Goldman Sachs, as financial advisor to Credito Fondiario and structuring agent to Elliott, on their successful bid to acquire a portfolio of non-performing loans (NPLs) from Banco BPM for a nominal amount of €7.8 billion, and establishing an NPL servicing platform to manage the acquired portfolio and 80 percent of any new NPLs originated by Banco BPM in the next ten years.

Milbank Advises on First US-Backed Climate Bonds Initiative Issuance in Southeast Asia Listed on Singapore Stock Exchange

14 Feb 2019

Milbank, Tweed, Hadley & McCloy LLP represented Bank of America Merrill Lynch, HSBC and CLSA as joint arrangers and dealers in connection with the establishment of a US $1 billion medium term note program (“MTN”) issued by Cayman Island-based AC Energy Finance International Limited and guaranteed by Philippines-based AC Energy, Inc. (“AC Energy”), and the issuance of two series of notes totaling US$410 million.

Hogan Lovells assists Generalfinance in obtaining a revolving facility to support its DIP Financing activity

14 Feb 2019

Hogan Lovells assisted Generalfinance S.p.A., a financial intermediary entered in the Register under art. 106 of Legislative Decree 385/93, in the negotiation and execution of a medium long-term revolving facility agreement with Banco BPM S.p.A., Creval S.p.A. and UBI Banca S.p.A. (as Mandated Lead Arrangers and Bookrunners and Lending Banks) and with Banca Centropadana Credito Cooperativo – Società Cooperativa, BPER Banca S.p.A., Banca Monte dei Paschi di Siena S.p.A., and Banca Sella S.p.A.

Mayer Brown advises Mongolian Mortgage Corporation HFC on US$250 million debut bond offering

14 Feb 2019

Mayer Brown represented Mongolian Mortgage Corporation HFC LLC, the only finance company licensed to issue asset-backed securities and the sole RMBS issuer in Mongolia, on its debut US$250 million unsecured bond offering and subsequent tap issuance for an additional US$50 million.

The issuer plans to use at least 90 percent of the net proceeds from the offering to purchase mortgages with recourse and the remaining portion for general corporate purchases.

WFW advises international infrastructure consortium on large-scale investment in German Veja Mate offshore wind farm

14 Feb 2019

Watson Farley & Williams (“WFW”) has advised an international consortium comprising Commerz Real AG (“Commerz Real”), Ingka Group and German investment companies KGAL Group (“KGAL”) and wpd invest GmbH (“wpd invest”) on the acquisition of an 80% stake in the Veja Mate offshore wind farm. Together with the existing project financing taken up by Veja Mate offshore wind farm, the transaction volume for the Veja Mate project totals approx. €2.3bn.