White & Case LLP has advised the bank syndicate led by BNP Paribas, Crédit Agricole CIB and Société Générale Corporate & Investment Banking, as joint global coordinators, on the issue of bonds convertible into new shares and/or exchangeable for existing shares (OCEANE) for an amount of approximately €400 million that was launched by Elis on October 3, 2017.
William Fry is advising Davy and Credit Suisse as Joint Global Co-ordinators and Bookrunners on Glenveagh Properties plc's €550m initial public offering and admission to the Irish and London Stock Exchanges. Glenveagh, the first Irish homebuilder to float in two years, has been created through the combination of assets of US private equity firm Oaktree Capital and Kildare-based builder Bridgedale.
On 21 September 2017, advised by King & Wood Mallesons (KWM), Postal Savings Bank of China Co., Ltd. (PSBC) issued US$7.25 billion 4.5% non-cumulative perpetual offshore preference shares, raising a total of RMB47.8 billion. The transaction is the world’s largest preference share offering made by a financial institution since 2010, and also the largest in Asia to date.
Wolf Theiss has advised Volksbank Wien in the issuance of a subordinated bond (tier 2) with a volume of €400 million. The bond has a term of 10 years.
The subordinated bond was offered exclusively to institutional investors for purchase; the interest rate for the first five years was set at 2.75% per annum. The issuer is entitled to a one-time right to terminate the 10-year fix to fix interest-bearing subordinate bond.
Gide advised a syndicate of banks comprising BNP Paribas, MUFG Securities EMEA plc, Natixis and Société Générale on the inaugural issuance by Vivendi under its EMTN programme of EUR 850 million 0.875 per cent. notes due September 2024 and listed on Euronext Paris.
Gide's team was led by partner Hubert du Vignaux, assisted by counsel Laurent Vincent, Aude-Laurène Dourdain and Juliette Pierre.
Darrois Villey Maillot Brochier advised Vivendi.
Osborne Clarke has advised Joh. Berenberg, Gossler & Co. KG, London branch and Grant Thornton UK LLP on the successful £163 million AIM market IPO of Alpha Financial Consulting Group plc, a leading global provider of specialist consultancy services to the asset and wealth management industry.
Berenberg is acting as global coordinator and broker and Grant Thornton is acting as nominated adviser. Admission is expected to become effective on 11 October 2017.
Ashurst advised longstanding client Bank of Cyprus on the multimillion euro refinancing and restructuring of the Nicosia Mall development located in Nicosia, Cyprus.
The key components of the restructuring involved a reorganisation of the corporate structure with Bank of Cyprus becoming a shareholder in the parent company, NCMH Nicosia Mall Holdings Ltd, and a comprehensive restructuring of the debt facilities provided by Bank of Cyprus to assist in the development of the Mall together with a reorganisation of the accompanying collateral package.
Morgan Lewis has advised ING Bank N.V. on a $750 million unsecured term club facility for the major global agrochemical holding EuroChem Group AG.
ING Bank N.V. was the coordinator and documentation agent for the deal, which involved a syndicate of leading international banks. UniCredit London acted as agent.
Slaughter and May advised Holmes Master Issuer PLC in respect of the issue of a total of £500 million of senior notes, in two different classes, under its Residential Mortgage-Backed Note Issuance Programme. The Notes were listed on the Main Market of the London Stock Exchange and awarded the Prime Collateralised Securities Label by the PCS Secretariat.
Slaughter and May also advised Santander UK plc in its capacity as sponsor, seller, servicer, cash manager and originator under the Programme.
Contacts
Slaughter and May is advising Peel Hunt LLP, as sponsor and broker to Hansteen Holdings plc (“Hansteen”), the industrial property investor, in connection with Hansteen’s proposed return of capital of up to approximately £580 million to shareholders through a tender offer and subsequent repurchase of ordinary shares. The tender offer is subject to approval by Hansteen’s shareholders in general meeting and is expected to complete on 7 November 2017.
Contacts
Corporate: Filippo de Falco (partner), Panashi Devchand (associate)