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Finance & Banking

Clifford Chance advises the Managers on Eurofins Scientific SE's EUR 400 million hybrid bond issuance

16 Nov 2017

Clifford Chance has advised BNP Paribas, HSBC Bank plc, Merrill Lynch International and UniCredit Bank AG, as Global Coordinators and Joint Lead Managers, and Bayerische Landesbank and Danske Bank A/S, as Joint Lead Managers, on the issue of EUR 400,000,000 hybrid securities by Eurofins Scientific SE ("Eurofins"), acting through its French branch.

The hybrid securities issued by Eurofins, a global leader in bioanalytical testing, have no specified maturity and are accounted for as 100% equity according to the international financial reporting standards (IFRS).

Chinese Outdoor Leisure Product Manufacturer Bestway Global Completes Hong Kong IPO

16 Nov 2017

Paul Hastings, a leading global law firm, announced today that the firm advised Morgan Stanley as the sole sponsor and sole global coordinator, and Morgan Stanley and CMB International as the joint bookrunners and joint lead managers in Bestway Global Holding Inc.’s (“Bestway Global”) US$149 million Hong Kong IPO. Bestway Global is a Shanghai-headquartered Chinese maker of outdoor leisure products including above-ground pools, portable spas, sporting goods and camping products.

Schulte Represents Unsecured Creditors’ Committee in Maxus Energy Corporation Bankruptcy

16 Nov 2017

Schulte represented the Official Committee of Unsecured Creditors ("Creditors’ Committee") in the Chapter 11 cases of Maxus Energy Corporation and its affiliates (the “Debtors”). In June 2016, Maxus filed for bankruptcy protection seeking court approval of a pre-bankruptcy settlement with its corporate parent YPF S.A. to release potentially billions-of-dollars of claims that Maxus and its affiliates had against YPF in exchange for a $130-million payment.

Axtel’s $500 Million Offering

16 Nov 2017

Cleary Gottlieb represented BBVA, Citigroup, J.P. Morgan and Santander as initial purchasers in a global bond offering by Axtel S.A.B de C.V. of its $500 million 6.375 percent senior notes due 2024.

The offering was conducted as a private placement in the United States under Rule 144A and an offshore offering in reliance on Regulation S. The transaction priced on November 9, 2017, and closed on November 14, 2017.

King & Wood Mallesons advises Arcano Capital on the structuring of its first venture fund

16 Nov 2017

King & Wood Mallesons (KWM) has advised Arcano Capital on the structuring of its first venture fund, Arcano Ventures, with a target size of USD 200 million. Arcano joined forces with the US investment firm Urizen on this project.

Arcano Ventures is aimed at investment in IT companies with high potential growth and, especially, companies focused on new technologies such as big data and artificial intelligence based in Silicon Valley (US), where most of these companies are located.

WFW advises syndicate of banks on one of the largest Italian project financings of a biomass plant

15 Nov 2017

Watson Farley & Williams (“WFW“) has advised a syndicate of banks (including Banca IMI as Agent Bank, Mediocredito Italiano S.p.A., UBI Banca S.p.A. and Cassa dei Risparmi di Forlì e della Romagna S.p.A.) on the circa €60m project financing of 25.2 MW biomass plant located in Sant’Agata di Puglia Municipality (Foggia, Apulia Region, Italy).

Sogou Inc. Initial Public Offering and NYSE Listing

14 Nov 2017

Davis Polk advised the representatives of the underwriters on the initial public offering by Sogou Inc. of 45,000,000 American Depositary Shares, each representing one Class A ordinary share, for total proceeds of $585 million. Sogou has granted the underwriters an option to purchase up to an additional 6,750,000 ADSs. The ADSs are listed on NYSE under the symbol “SOGO.”

RTPR Allen & Overy advises the syndicate of banks on the IPO of Sphera Franchise Group

14 Nov 2017

RTPR Allen & Overy has advised Wood & Company Financial Services and Raiffeisen Bank as joint bookrunners on the IPO of Sphera Franchise Group and admission to trading on the Bucharest Stock Exchange.

The RTPR Allen & Overy team was led by Loredana Chitu (Boeru) (Counsel) supervised by Costin Taracila (Managing Partner) and further comprised Vlad Druta, Mihnea Radu and Marina Giurgica.