The Innovation Network Corporation of Japan and the Toshiba Corporation have sold their shares in Landis+Gyr Group Ltd by way of an initial public offering (IPO) on the SIX Swiss Exchange. The shares of Landis+Gyr (ticker symbol: LAND) were priced at CHF 78.00 corresponding to a market capitalization of approx. CHF 2.3 billion, making it the largest IPO on the SIX Swiss Exchange since 2006 and the second largest IPO in Europe in 2017 to date. The shares were traded for the first time on 21 July 2017.

Global law firm White & Case LLP has advised Crédit Mutuel Arkéa on its exclusive negotiations to acquire through Keytrade Bank, the Belgian branch of Arkea Direct Bank, the client portfolio of investment products and pensions saving funds from the Belgian branch of Dutch credit institution Coöperatieve Rabobank U.A.

JOST Werke AG (“JOST”) successfully completed its Private Placement with the initial listing of its shares on the Frankfurt Stock Exchange on 20 July 2017. The total offer volume amounts to approximately EUR 231 m. In total, 4,875,000 newly issued ordinary bearer shares from a capital increase and 2,575,000 existing ordinary bearer shares from the holdings of JOST’s existing shareholder have been placed with institutional investors in the Private Placement.

Hogan Lovells has advised Proparco, a subsidiary of the Agence Française de Développement devoted to private sector funding, in relation to a trade finance loan facilitation programme worth $50 million for pan-African banking group Ecobank.

Allen & Overy has advised Citigroup, DBS Ltd., MUFG, SBICAP and Standard Chartered Bank as joint lead managers in connection with the debut Regulation S  offering of senior unsecured notes due 2027 by Hindustan Petroleum Corporation Limited (HPCL). The dollar-denominated 10-year 4.00% bond raised USD500  million for the Indian issuer.

Allen & Overy advised  ANZ, Barclays, BNP Paribas, HSBC, Mizuho Securities,  and MUFG as joint lead managers (JLMs) in connection with the Regulation S green bond offering of senior unsecured notes due 2027 by Rural Electrification Corporation Limited (REC). The dollar-denominated 10-year 3.875% bond issuance raised USD450  million for the Indian issuer.

This green bond issue was certified by the Climate Bonds Initiative and verified by an independent assurance statement.

In the context of the IPO of JOST Werke AG, Clifford Chance has advised Commerzbank Aktiengesellschaft as documentation agent in relation to a EUR 260 million syndicated loan agreement for JOST Werke AG.

JOST Werke AG is a leading global producer and supplier of safety-critical systems to the truck and trailer industry and has been listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange since 20 July 2017.

National law firm Shoosmiths has advised Sancus (Gibraltar) Limited, part of the alternative financing group Sancus, on its £12m funding package to Green Town (Heartlands) Ltd, part of the WElink Group for the high profile Heartlands development.

Situated in the central belt of Scotland along the M8 corridor, the Heartlands development spans approximately 1,400 acres and when completed will comprise residential, business and leisure facilities.

Stephenson Harwood LLP has advised Lloyds Bank plc and the Royal Bank of Scotland plc on the sale of a fleet of passenger train rolling stock to Beacon Rail Leasing.

Pan-European rolling stock lessor Beacon Rail Leasing has completed the acquisition of a fleet of Bombardier Class 220 and Class 221 Voyager diesel-electric units from subsidiaries of Lloyds Bank and the Royal Bank of Scotland. In April 2017, Beacon Rail Leasing was acquired by institutional investors advised by J.P. Morgan Asset Management.

Allen & Overy represented Credit Suisse as lead arranger for the $335 million acquisition financing for cloud-based technology company, Dexter + Chaney, LLC by Viewpoint, Inc., a construction software firm and portfolio company of Bain Capital Private Equity. This deal highlights the growing importance and role of technology in bringing productivity advances to the construction sector. The financing consists of a $210 million first lien term loan, $30 million first lien revolving credit facility, and $95 million second lien term loan facility.