Davis Polk advised Sumitomo Mitsui Financial Group, Inc. on its SEC-registered takedown offering of Australian dollar-denominated senior TLAC notes, which consisted of A$300 million aggregate principal amount of 3.604% senior notes due 2023 and A$450 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.

Norton Rose Fulbright has advised a consortium of banks (Bank Polska Kasa Opieki S.A., Bank Handlowy w Warszawie S.A., mBank S.A. and ING Bank Slaski S.A.) on a complex transaction involving the grant of EUR 160m and PLN 380m in financing to Polish, Romanian and German companies from Cersanit Group and a PLN 100m corporate bond issue placed on the Polish market. The firm's role entailed the drafting of all finance documents for the banks.

DLA Piper represented Natixis, the international corporate, investment, insurance and financial services arm of Groupe BPCE – the second-largest banking group in France – in its US$125million financing for ground-up construction of a mixed use building at One Light Street in Baltimore. The project is being developed by Madison Marquette, and M&T Bank is the lead tenant.

CMS has advised PKO BP on the new issue of subordinated bonds for the amount of PLN 1.7 billion.

The funds will be allocated to the Bank's increase of Tier II capital. The Polish Financial Supervision Authority has already granted its consent to the above operation. 

Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of $4.25 billion aggregate principal amount of its senior notes in three tranches due 2022 (floating rate), 2022 and 2027 (fixed rate). SMFG intends the senior notes to contribute to its total loss-absorbing capacity (TLAC) when TLAC requirements are introduced in Japan.

Simpson Thacher recently represented the underwriters in the SEC-registered offering by Sumitomo Mitsui Financial Group, Inc. (“SMFG”) of A$750 million aggregate principal amount of its senior notes in two tranches due 2023 (floating rate and fixed rate). SMFG intends the senior notes to contribute to its total loss-absorbing capacity (TLAC) when TLAC requirements are introduced in Japan.

Simpson Thacher recently represented the initial purchasers in the offering by Takeda Pharmaceuticals Company Limited of $500 million aggregate principal amount of its senior fixed rate notes due 2022. The notes were sold to international investors outside of Japan in reliance on Rule 144A and Regulation S.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Nomura Securities International, Inc. acted as the initial purchasers for the offering.

International law firm Trowers & Hamlins has advised The Housing Finance Corporation Limited (THFC) on its recent bond issue.

The firm acted for THFC on all aspects of the transaction, which involved issue of £168 million bonds (half of which were retained bonds) with some of the funds being on-lent to two registered providers with the remainder to be on-lent to other Registered Providers at a future date.

This was the first new bond issue for THFC since 2013.

Partner Naomi Roper commented:

Taylor Wessing has advised money.co.uk, one of the UK’s leading financial comparison websites, on its sale to LSE listed ZPG Plc, for up to £140m.

Money.co.uk, established in 2008 by serial entrepreneur Chris Morling, helps consumers make smarter financial decisions by comparing thousands of deals from over 600 providers across more than 60 product categories including mortgages, loans, credit cards, bank accounts and insurance.

Lombard Odier has co-sponsored the first high-impact debt transaction launched by the International Committee of the Red Cross (ICRC). It involves a number of European parties, including governments and private investors which have successfully collaborated to commit CHF 26 million to fund the construction and operation of three physical rehabilitation centers of the ICRC in Mali, Nigeria and the Democratic Republic of Congo. This innovative financing links a targeted social outcome to a financial return, i.e.