Herbert Smith Freehills has advised a seven-bank syndicate on the US$80 million IPO on the Bombay Stock Exchange (BSE) and Regulation S international offering of Central Depository Services Limited (CDSL), an Indian securities depository. 

The bank syndicate was led by Axis Capital and also included Nomura, Edelweiss, SBI Capital, Haitong, IDBI and Yes Securities.

The offering was oversubscribed over 170 times, attracting the greatest demand for an Indian IPO since 2005, with shares opening at a premium of more than 65% on trading debut.

Clifford Chance has advised Bank of China (Hong Kong), HSBC and ING Real Estate Finance on the financing of Hong Kong investor C C Land Holdings £1.15 billion purchase of The Leadenhall Building, more commonly known as the ‘Cheesegrater’, in the City of London.

The deal is the largest single property to sell in the UK since the sale of the 8 Canada Square in Canary Wharf in 2014 for £1.175bn, and marks the continued investment in the City of London from overseas investors.

International legal practice Osborne Clarke has advised the Goldman Sachs Principal Strategic Investments group in relation to their lead of a $22 million Series A funding round in Diffblue Limited.

Davis Polk advised BBVA Banco Francés, S.A. in connection with its $400 million SEC-registered follow-on offering of 75,781,788 ordinary shares of Banco Francés, including ordinary shares sold pursuant to exercise of the underwriters’ over-allotment option. The global offering comprised a rights offering in Argentina and public offerings in the United States and Argentina. Banco Francés’ ordinary shares are listed on the Argentine Stock Exchange and the Madrid-based Latibex, and its ADSs are listed on the New York Stock Exchange.

Allen & Overy has advised the Co-operative Group on the terms of the GBP700m capital raising plan to secure the long term future of The Co-operative Bank and on the revised structure of the shared Co-operative “PACE” pension scheme.  Terms of the deal were reached between the Bank, the Group, the pension trustee and an ad-hoc committee of the Bank’s bondholders on 28 June 2017 and the plan was accepted and approved by the Prudential Regulation Authority.

Dechert LLP advised CIT Group Inc. (NYSE: CIT) on the sale of its Paris-based European rail leasing business NACCO to Hamburg-based VTG Aktiengesellschaft (VTG) for approximately US$1.05 billion. The agreement includes a purchase price of €780 million (US$890 million) for NACCO’s operations and assets including approximately 14,000 rail freight cars, plus all investments in freight cars between Jan. 1, 2017 and the closing date (expected to be approximately €140 million or US$160 million). The transaction is expected to close in the fourth quarter of 2017.

Global law firm White & Case LLP has advised Banca Farmafactoring S.p.A. on the issue of €200 million, two percent notes due 2022, issued pursuant to Regulation S under the Securities Act.

The Notes are listed on the Regulated Market of the Irish Stock Exchange.

Banca Farmafactoring specialises in the management, sale and non-recourse factoring of receivables owed to suppliers mainly by national healthcare service entities and other Italian public sector organisations.

Global law firm White & Case LLP has advised the financing banks on the acquisition by CVC Capital Partners of Pasubio S.p.A., a specialised producer of luxury automotive upholstery and manufactured leather.

The White & Case team which advised on the transaction was led by partners Michael Immordino (Milan & London), Iacopo Canino (Milan), Martin Forbes and Ben Wilkinson (both London), associates Silvia Pasqualini, Stefano Bellani (both Milan), Andrew Vickers, Hafsa Raza and Setareh Taei (all London) and lawyer Giovanna Bellofiore (Milan).

Shearman & Sterling represented the underwriters, including Citigroup, HSBC, J.P. Morgan, Morgan Stanley and Rand Merchant Bank, as joint global coordinators on the $1 billion rights offering by Sibanye Gold Limited.  The rights offering was made on an SEC-registered basis, as well as in a public offering in South Africa.  This is the third-largest rights issue ever by a South African company and the largest ever acquisition-related capital raise in South Africa.

Shearman & Sterling represented the underwriters, including Citigroup, HSBC, J.P. Morgan, Morgan Stanley and Rand Merchant Bank, as joint global coordinators on the $1 billion rights offering by Sibanye Gold Limited.  The rights offering was made on an SEC-registered basis, as well as in a public offering in South Africa.  This is the third-largest rights issue ever by a South African company and the largest ever acquisition-related capital raise in South Africa.