Shearman & Sterling advised ZZ Capital International Ltd (ZZCI) on its investment in Building Energy 1 Holdings plc (Building Energy), a global, vertically integrated, multi-technology independent power producer operating in the renewable energy industry. The investment was structured through the subscription for mandatorily convertible bonds and equity interests.
Baker McKenzie advised UBS Switzerland AG and other lenders in connection with the structuring and documentation of a fully secured CHF 60 million senior revolving credit facility for Charles Vögele Group, a leading Swiss fashion retailer. The revolving credit facility is for general working capital and capital expenditure purposes of Charles Vögele Group.
Travers Smith LLP has advised new corporate client Record plc in connection with its £10 million return of capital to shareholders by way of a tender offer and buyback of shares, which was announced on 21 June 2017. Cenkos Securities plc acted as broker for Record plc on the tender offer.
The transaction was approved by shareholders at a general meeting on 14 July 2017 and completed, subject to stamping by HMRC, on 17 July 2017.
The Travers Smith team was led by Corporate Partner Richard Spedding, with Corporate Associate James Addison.
Allen & Overy has advised the arrangers, Barclays and JP Morgan, on the GBP4 billion refinancing of securitisations issued by Annington Homes. Annington’s primary business is the rental of residential property to the Ministry of Defence and is one of the largest private owners of residential property in the UK. Annington Homes is owned by Terra Firma, one of Europe’s leading alternative investment platforms.
Allen & Overy has advised the arrangers, Barclays and JP Morgan, on the GBP4 billion refinancing of securitisations issued by Annington Homes. Annington’s primary business is the rental of residential property to the Ministry of Defence and is one of the largest private owners of residential property in the UK. Annington Homes is owned by Terra Firma, one of Europe’s leading alternative investment platforms.
Canadian natural gas distribution company Enbridge Inc. completed a public offering of $1 billion aggregate principal amount of 5.50% fixed-to-floating rate subordinated notes due 2077. Paul, Weiss represented the underwriters, Deutsche Bank Securities Inc., Barclays Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, and HSBC Securities (USA) Inc., in the transaction.
The Paul, Weiss team included corporate partner Christopher Cummings and counsel Stephen Centa; tax partner David Mayo; and environmental counsel William O’Brien.
Paul, Weiss is representing New York-based middle market private equity firm Gamut Capital Management, L.P. in its acquisition of JPW Industries, Inc. and its global affiliates from Tenex Capital Management. Gamut is a new fund which has raised $1 billion for its debut fund; this is Gamut’s first platform acquisition. JPW is a leading manufacturer, designer and distributor of a wide range of machinery and equipment under the JET, Powermatic, Wilton, Edwards and Promac brands. Terms of the transaction were not disclosed.
Global law firm White & Case LLP has advised the bank syndicate led by Morgan Stanley and Société Générale on the initial public offering of Carmila on the regulated market of Euronext Paris.
The prospectus received the visa from the French financial markets authority (Autorité des marchés financiers) on June 23, 2017 and the settlement of the offer took place on July 10, 2017.
Davis Polk advised ORIX Corporation in connection with its SEC-registered shelf takedown of $750 million aggregate principal amount of 2.900% notes due 2022 and $500 million aggregate principal amount of 3.700% notes due 2027.
ORIX, one of Japan’s leading financial services groups, provides a broad range of commercial and consumer finance products and services to corporate and retail customers in Japan and overseas.
Leading international law firm Clifford Chance advised DBS Bank Ltd., Morgan Stanley Asia (Singapore) Pte., UBS AG, Singapore Branch, as the joint issue managers, and DBS Bank Ltd., Morgan Stanley Asia (Singapore) Pte., UBS AG, Singapore Branch, Merrill Lynch (Singapore) Pte. Ltd., Citigroup Global Markets Singapore Pte.