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Finance & Banking

Shearman & Sterling Advises on Together’s £200 Million High Yield Notes Offering

24 Feb 2017

Shearman & Sterling advised Together Financial Services Limited (formerly, Jerrold Holdings Limited) on the offering by its wholly owned subsidiary, Jerrold FinCo plc (the "Issuer"), of its £200 million aggregate principal amount of 6 1/8 % senior secured notes due 2024 under an indenture dated February 22, 2017. The notes are guaranteed by Together Financial Services and all of its subsidiaries other than the Issuer and certain dormant and non-material subsidiaries.

Eversheds Sutherland boosts launch of £400m Northern Powerhouse Investment Fund for British Business Bank

24 Feb 2017

Eversheds Sutherland (International) advises British Business Bank on the structuring and launch of the £400m Northern Powerhouse Investment Fund (NPIF), aimed at boosting the North of England's economy and helping the region's businesses realise their growth potential.

Ant Financial Enters Into FinTech Partnership With Ayala and Globe Telecom With Investment in Mynt

24 Feb 2017

Simpson Thacher is representing Ant Financial Services Group (“Ant Financial”) in its acquisition of new shares of Globe Fintech Innovations, Inc. (“Mynt”), as part of a strategic partnership involving Globe Telecom, one of the leading mobile telecom operators in the Philippines, and Ayala Corporation, one of the largest conglomerates in the Philippines, to accelerate financial inclusion and upgrade payment services in the Philippines.

Bär & Karrer Advises Joint Bookrunners on Placement of CHF 60 Million 5.00% Convertible Bonds by Santhera

24 Feb 2017

Santhera Pharmaceuticals Holding Ltd successfully placed CHF 60 million 5.00% convertible bonds due 2022. The convertible bonds will mature on 17 February 2022 at 100% of their principal amount unless previously redeemed, converted or repurchased and cancelled. The terms of the convertible bonds provide for a reset of the conversion price if the average share price during a period immediately prior to the first anniversary of the issue date falls below a reference share price. Bank am Bellevue AG and Kepler Cheuvreux SA acted as Joint Bookrunners in this transaction.

Squire Patton Boggs Advises Wonga Group on European Sale

23 Feb 2017

Squire Patton Boggs has advised Wonga Group Limited, the UK’s largest short-term lender, on the sale of its German operation BillPay GmbH to Swedish payments start-up, Klarna AB.

Founded in 2009, BillPay is an online payment services provider with some 12 million customers across Germany, Austria, Switzerland and the Netherlands. BillPay is licensed by the German Federal Financial Supervisory Authority (BaFin) to offer money transmission services under the Payment Services Supervision Act (ZAG).

Clifford Chance advised the underwriters in connection with the capital increase of AGRANA Beteiligungs-Aktiengesellschaft

23 Feb 2017

Clifford Chance advised the underwriters in connection with the capital increase of AGRANA Beteiligungs- Aktiengesellschaft, which consisted of two tranches with a total of 1,420,204 new shares and 500,000 existing shares held by Südzucker AG placed to investors at a price of EUR 100 per share. Berenberg, BNP Paribas, Erste Group and Raiffeisen Bank International acted as Joint Global Coordinators and Bookrunners.

Shearman & Sterling Advises on Novartis Capital Corporation’s $3 Billion Notes Offering

23 Feb 2017

Shearman & Sterling represented the underwriters in connection with Novartis Capital Corporation’s registered shelf takedown of $1 billion 1.800% notes due 2020, $1 billion 2.400% notes due 2022 and $1 billion 3.100% notes due 2027. All tranches of notes were fully and unconditionally guaranteed by Novartis AG. The underwriters included Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co.