Allen & Overy has advised Lloyds Banking Group and Bank of America Merrill Lynch as arrangers on the UK’s first securitisation of insurance premium loans, a GBP300 million issuance originated by Premium Credit Limited (PCL).

This innovative triple-A-rated transaction, backed by a speciality asset class, borrows from UK residential and credit card master trust transactions to create its own unique structure. This enables Premium Credit to access the public market frequently via a programme structure as well as access funds via an existing warehouse.

Redhall Group is the West Yorkshire based manufacturer of high integrity products and equipment for the nuclear, oil and gas and infrastructure sectors.

Burges Salmon has advised WH Ireland Limited in its capacity as broker, and GCA Altium Limited in its capacity as nominated adviser, to Redhall Group plc, an AIM quoted company, on its placing to raise approximately £9.5 million. Redhall Group is the West Yorkshire based manufacturer of high integrity products and equipment for the nuclear, oil and gas and infrastructure sectors.

TRIUVA Kapitalverwaltungsgesellschaft mbH, Germany’s leading real estate fund manager, has acquired from Slussgården the city property Lammet 17, located right next to Drottninggatan and Kungsgatan. The property has 6,700 square meters of office and retail space and Fastighetsvärlden estimates that the price amounts to a bit over 450 million SEK. Catella and Foyen have been advisors to Slussgården and JLL, Roschier, King & Spalding, WSP and Rödl & Partner have been advisors to Triuva.

We advised Caverion, as well as Nordea, OP and SEB as the joint lead managers, in Caverion’s EUR 100 million hybrid bond issue. Due to excellent demand, the issue size was increased from the original EUR 80 million to EUR 100 million. The coupon of the hybrid bond is 4.625 per cent per annum until 16 June 2020. The coupon of the hybrid bond is the lowest coupon ever in the Finnish hybrid bond market.

King & Wood Mallesons (KWM) has acted as Hong Kong and PRC counsel to Jilin Top Trading Co. Ltd. and its subsidiary Jilin Fiber Co., Limited on the HK$475 million privatisation of Jilin Qifeng Chemical Fiber Co., Ltd., a company listed in Hong Kong. The withdrawal of listing of its H shares from the Stock Exchange has taken place today.

The Court of Appeal today handed down judgment in the case of Dexia Crediop S.p.A. -v-  Comune di Prato ([2017] EWCA Civ 428) holding that interest rate swaps between the parties were valid and binding and that Prato had full capacity to enter into them.  Overturning the decision of the High Court, the Court of Appeal also held that Article 3(3) of the Rome Convention did not apply so as to engage mandatory Italian laws.

Allen & Overy has advised BNP Paribas as sole global coordinator and Citi as joint runner in connection with the debut high-yield bond issuance by PT Agung Podomoro Land Tbk (APLN). The dollar-denominated 5.95% bond raised USD300 million for the Indonesian property developer.

APLN is a Jakarta-listed integrated property developer, which owns and develops diversified holdings in commercial, residential and retail real estate in Indonesia. Several of its landmark projects are Podomoro City, Kuningan City, Green Bay Pluit, Borneo Bay City, and Senayan City.

Infranode enters the Norwegian market through an acquisition of a 33% ownership stake in Akershus Energi Varme.

Ashurst is advising J.P. Morgan Limited in relation to the £70 million recommended cash offer for Monitise plc by Fiserv. 

Allen & Overy LLP has advised Kreissparkasse Biberach and Sparkasse Pforzheim Calw in connection with the financing of the acquisition of Felss Group by Capvis.

The Capvis Equity IV LP fund, which is advised by Swiss based Capvis Equity Partners AG (collectively "Capvis"), will acquire the shares from the previous sole shareholder Christine Kienhöfer, who will retain a substantial shareholding in Felss Group.