Cleary Gottlieb represented Crédit Agricole S.A. (Crédit Agricole) in an offering of €1 billion senior preferred fixed-rate green notes due 2023 (the notes) pursuant to its €75 billion euro medium-term note program.

The joint lead managers for the offering were Crédit Agricole Corporate and Investment Bank, ABN AMRO Bank N.V., Barclays Bank Plc., Commerzbank Aktiengesellschaft, ING Bank N.V., and Skandinaviska Enskilda Banken AB (Publ). The transaction closed on December 5, 2018.

Osborne Clarke in loan granted to PEREF

Osborne Clarke advised Aareal Bank AG, Rome branch, acting as lender, arranger and agent, in the real estate financing transaction with an overall value of approximately  Euro 34 million provided to the alternative closed-end real estate investment fund  “PEREF II FONDO” which acted through PGIM Real Estate Luxembourg S.A., which was in turn advised by DLA Piper.

The loan was provided in order to finance the purchase of three properties destined for logistics purposes and located in northern Italy.

Gilbert + Tobin has recently advised IMF Bentham Limited (IMF) on a successful restructure of its existing listed IMF Bentham Bonds (Bond Restructure) and a A$41.4 million conditional placement of new listed IMF Bentham Bonds to sophisticated and professional investors (Conditional Bond Placement). The Conditional Bond Placement was conducted to fund redemptions associated with the Bond Restructure and to fund growth initiatives and allow greater financial flexibility for IMF’s balance sheet.

India’s largest power producer NTPC has updated its $6billion MTN programme, listed on the India International Exchange (INX), India's first international stock exchange, and the Singapore stock exchange (SGX). When the programme got listed on the INX in 2018, it was India’s first quasi-sovereign company to list on the INX.

The programme will help NTPC raise funds at lower costs from international investors and also allow foreign investors to access good quality Indian debt paper.

Cleary Gottlieb represented J.P. Morgan and Credicorp Capital as dealer managers in the cash tender offer to purchase up to a total of $150 million of 4.5% senior notes due 2023 issued by Cementos Pacasmayo.

The offer was oversubscribed at the early tender date and settled early on December 11, 2018, when Cementos Pacasmayo repurchased approximately $168 million of the notes. The tender offer launched on November 26, 2018, and expired on December 21, 2018.

The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised an international banking consortium on the refinancing of the existing credit facilities agreement of DYWIDAG Systems International (DSI) Group. The new group financing facilities comprise two independent syndicated loan agreements for the construction and the underground parts of the group and has a total volume of around 245 million Euro.

With a Frankfurt-based team led by Partner Thomas K. Schrell, business law firm Heuking Kühn Lüer Wojtek advised HF Private Debt on funding Finexx’s acquisition of GSE Vertrieb group. The financing volume was not disclosed.
 

Linklaters has advised a group of fifteen commercial lenders and an institutional investor in relation to the £1.4 billion refinancing of the 353MW Galloper Offshore Wind Farm located off the coast of Suffolk, UK. The wind farm, which commenced its operational phase on 3 September 2018, consists of 6.3MW turbines manufactured by Siemens.

Galloper Offshore Wind Farm is owned by innogy SE (25%), Siemens Financial Services (25%), Sumitomo (12.5%) and ESB (12.5%) and a consortium managed by Green Investment Group and Macquarie Infrastructure and Real Assets (25%).

Ashurst has advised illimity - Banca Interprovinciale S.p.A. on the Euro 15,000,000 medium-long term loan granted to OWL S.p.A., the holding company controlling the TAS Group (TAS-Tecnologia Avanzata dei Sistemi S.p.A.). TAS is a leading Italian company specialised in software solutions for e-money, payment systems and financial markets, operating in Europe and America.

The Ashurst team was led by partner Paolo Manganelli, and included counsel Annalisa Santini and associate Anna Giulia Chiarugi. Counsel Fabio Balza advised in relation to the tax aspects of the refinancing.