Ashurst has advised Bain Capital Credit, L.P. (Bain) in relation to the exercise of warrants in Imdex Limited (Imdex) and immediate sale of the shares acquired on exercise, equal to in aggregate 10.08% of Imdex, through a block trade agreement with Euroz Securities Limited (Euroz).
Herbert Smith Freehills has advised Westpac, AustralianSuper and IFM Investors on a A$150 million long-term debt raising for Visy Industries.
The transaction sees Westpac arrange the lending of money by the super funds to Visy over 10 years, where it will be used to refinance existing senior debt.
The transaction comes as liquidity from institutional lenders increases, according to the Asia Pacific Loan Market Association.
Milbank, Tweed, Hadley & McCloy LLP advised International Finance Corporation (IFC), UK Export Finance (UKEF) and a commercial bank group led by HSBC, ING, Société Générale and Standard Chartered Bank as the lenders on the financing of Vitol’s participation in the Offshore Cape Three Points (OCTP) oil and gas field project involving the development of the Sankofa-Gye Nyame fields in Ghana.
Dubai—Dentons has advised Bank of Sharjah on the establishment of its US$1 billion Euro Medium Term Note (EMTN) programme and its inaugural issuance of US$500 million 4.23% notes due 2022 thereunder, which completed on 7 March 2017. The programme and the notes are listed on the Irish Stock Exchange and have been assigned a long-term senior unsecured rating of BBB+ by Fitch. The notes were offered to sophisticated investors outside of the United States in reliance on Regulation S under the US Securities Act 1933.
Ashurst has advised The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sydney Branch (BTMU) in relation to the issue of A$650 million Floating Rate Transferable Certificates of Deposit due 9 March 2021 and A$150 million 3.25 per cent Fixed Rate Transferable Certificates of Deposit due 9 March 2021, under its A$6 billion Transferable Certificates of Deposit Program.
Shearman & Sterling advised The Export-Import Bank of China, China Development Bank, Silk Road Fund and International Finance Corporation in connection with the development and financing of the US$1.69 billion (approved total investment) 720 MW Karot hydropower plant in Pakistan, the largest hydropower plant in Pakistan to be financed on a limited-recourse basis.
2017's first Tier 2 Notes Issue in Turkey
Leading global law firm Baker McKenzie has advised Akbank T.A.S., one of Turkey's largest banks, on the offering of USD 500 million Basel III compliant Tier 2 Notes under Akbank's $3,500,000,000 Global Medium Term Note Programme. This represents the first Tier 2 Notes issue in Turkey this year. The Notes have a fixed term of 10 years and an early call option at year 5.
* First commercial deployment of blockchain technology for private equity market
Global law firm Norton Rose Fulbright has acted as a legal adviser Northern Trust on the first commercial deployment of blockchain technology for private equity fund administration.
White & Case LLP has advised the underwriters on UniCredit S.p.A.'s €13 billion rights issue, which consists of the offering of more than 1.6 billion new ordinary shares corresponding to 72.2 percent of its share capital.
The rights issue is the largest in Italian history.
Dentons has advised Bank of Sharjah on the establishment of its US$1 billion Euro Medium Term Note (EMTN) programme and its inaugural issuance of US$500 million 4.23% notes due 2022 thereunder, which completed on 7 March 2017. The programme and the notes are listed on the Irish Stock Exchange and have been assigned a long-term senior unsecured rating of BBB+ by Fitch. The notes were offered to sophisticated investors outside of the United States in reliance on Regulation S under the US Securities Act 1933.