Noerr has advised ODDO SEYDLER Bank AG on a capital increase of STARAMBA SE from authorised capital and the successful issue of convertible bonds. All new shares and convertible bonds of STARAMBA SE have been successfully placed with institutional investors in a private placement.
Norton Rose Fulbright has advised Haitong International Capital Limited (Haitong International) as financial advisor to Skyway Securities on its takeover by China Minsheng and China Huarong. This entailed a HK$1,933 million investment by China Minsheng Banking Corporation Limited (China Minsheng) and China Huarong Asset Management Co., Limited in Skyway Securities Group Limited, a listed platform for securities investment, brokerage, securities margin financing services and other investment holdings.
Clifford Chance has advised Deutsche Bank, ING, Natixis and UniCredit in their capacity as the coordinating committee for the pre-export finance banks in connection with the successful implementation of a US$2.3 billion debt restructuring for Metinvest. Metinvest is a vertically integrated group of Ukrainian steel and mining companies and one of the largest producers of iron ore raw materials and steel in the CIS.
Clifford Chance acted as issuer counsel for ABN AMRO Bank N.V. ("ABN AMRO") on its USD 1,5 billion RegS Tier 2 subordinated transaction which priced 20 March and settled on 27 March 2017.
Benefiting from both Asian and European demand, ABN AMRO was able to print USD1.5bn – beyond its initial target size. The transaction represents the first RegS only bank Tier 2 transaction since 2014 and highlights the continued support ABN AMRO receives from both Asian and European investors.
Simpson Thacher represented Stonegate Pub Company Financing plc, a wholly owned subsidiary of Stonegate Pub Company Limited (“Stonegate”), a TDR portfolio company, in connection with a Rule 144A and Regulation S offering of £405 million in aggregate principal amount of its 4.875% Senior Secured Notes due 2022 and £190 million in aggregate principal amount of its Floating Rate Senior Secured Notes due 2022. The transaction closed on March 16, 2017.
Münchener Rückversicherungs-Gesellschaft, Deutsche Bank AG and WMF Group GmbH have sold their shareholdings in the publicly listed company, BHS Tabletop AG (BHS), to Serafin Unternehmensgruppe in Munich. BHS is based in Selb in Upper Franconia and is one of the leading manufacturers of professional porcelain.
Simpson Thacher, acting as sole international counsel, represented Crédit Agricole Corporate and Investment Bank, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Mizuho Securities USA Inc., Morgan Stanley & Co. International plc, Shinhan Asia Limited and Shinhan Investment Corp., as dealers, in connection with the update of the US$6 billion Global Medium Term Note program of Shinhan Bank.
Simpson Thacher, acting as sole international counsel, represented Crédit Agricole Corporate and Investment Bank, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Mizuho Securities USA Inc., Morgan Stanley & Co. International plc, Shinhan Asia Limited and Shinhan Investment Corp., as dealers, in connection with the update of the US$6 billion Global Medium Term Note program of Shinhan Bank.
Linklaters has advised Turkey’s Turkiye Sinai Kalkinma Bankasi (TSKB) on its issue of the world’s first sustainable tier two bond. The $300 million Fixed Rate Resettable Tier 2 Sustainable Notes will be due in 2027, with a first call date in 2022 and a coupon of 7.625%. The proceeds will be used to finance and/or refinance projects satisfying defined criteria relating to climate change mitigation and sustainable infrastructure, among others.
Watson, Farley & Williams (“WFW”) has advised a syndicate of banks including Macquarie Bank Ltd (“Macquarie Bank”), Deka Bank Deutsche Girozentrale and export credit agencies The Export Import Bank of Korea (KEXIM) and Norway’s GIEK (Garanti-Instituttet for Eksportkreditt) as lenders and export credit support providers on a multiple tranche US$172m loan facility to Scorpio Tankers Inc. (“Scorpio Tankers”).