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Finance & Banking

Project Finance experts advise lenders on Kiata Wind Farm project

10 Feb 2017

Herbert Smith Freehills has advised National Australia Bank Limited and Danish export credit agency, EKF Danmarks Eksportkredit on the project financing for the development of the A$84.5 million Kiata Wind Farm project located 50km north west of Horsham, Victoria.

Developed by Windlab, construction of the 30MW, nine turbine wind farm is due to start in early 2017, with first production scheduled towards the end of 2017. When operational, the project is expected to provide enough clean energy for more than 20,000 households each year.

Clifford Chance advises on US$184 million IPO for Asia's oldest stock exchange, BSE Ltd. in India

10 Feb 2017

Clifford Chance advised the underwriters on the international aspects of the US$184 million (Rs 12.4) initial public offering of BSE Ltd. (formerly the Bombay Stock Exchange), Asia's oldest stock exchange. The IPO was the first listing of a stock exchange in India and was oversubscribed by 51 times.

Partner Rahul Guptan led on the deal and was supported by partner Johannes Juette, senior associates Jonathan Crandall and Shashwat Tewary, associates Angela Ryu, Cora Ang and Stephanie Liman, and trainee Siddhartha Premkumar.

WFW Hamburg advises Berenberg on US$300m shipping loan portfolio transfer and sale

09 Feb 2017

Watson Farley & Williams’ Hamburg office (“WFW”) has advised Joh. Berenberg, Gossler & Co. KG (“Berenberg”) on the transfer of a portfolio of European shipping loans worth approximately US$300m from The Royal Bank of Scotland Plc.

Berenberg transferred the portfolio on to Luxembourg fund Berenberg Alternative Assets Fund (“the Fund”), which it set up and to which it acts as sole advisor. Fully compliant with all regulatory requirements for institutional investors, the Fund primarily focusses on performing loans.

Schellenberg Wittmer advised CS Funds Ltd in set-up and approval of Swiss Mortgage Umbrella Fund

08 Feb 2017

Schellenberg Wittmer acted as counsel to Credit Suisse Funds Ltd in connection with the set-up and approval process by FINMA of the newly authorized Swiss Mortgage Umbrella Fund as "other funds for traditional investments". This fund is dedicated to institutional investors and will launch a sub-fund with a strategy to invest in mortgages originated by Credit Suisse.
 
The Schellenberg Wittmer team included Caroline Clemetson (Partner - Banking and Finance), Nicole Egli (Senior Associate - Banking and Finance) and Roland Mathys (Partner – Data Protection).

China Water Affairs Group Limited $300 Million High-Yield Notes Offering

08 Feb 2017

Davis Polk advised the initial purchaser in connection with a $300 million Regulation S offering by China Water Affairs Group Limited of its 5.25% senior notes due 2022.

China Water Affairs Group Limited is the largest publicly-listed water supply companies in China based on volume of water sold for the fiscal years 2015 and 2016. It focuses on the water supply business. China Water Affairs Group Limited is listed on the Hong Kong Stock Exchange.

Shearman & Sterling Advises Underwriters on Banco Comercial Português, S.A.’s €1.33 Billion Capital Increase

08 Feb 2017

Shearman & Sterling advised the underwriters, led by Goldman Sachs International and J.P. Morgan, in connection with Banco Comercial Português, S.A.’s (BCP) capital increase of approximately €1.33 billion by way of a rights offering comprising the issuance of 14,169,365,580 ordinary shares. The syndicate of underwriters also comprised BofA Merrill Lynch, Credit Suisse and Mediobanca.

Ashurst advises NIBC and SEB on financing the acquisition of Utimaco by EQT

08 Feb 2017

Ashurst advised NIBC Bank Deutschland AG (NIBC) and SEB AG (SEB) on the financing of the acquisition of a majority stake in Utimaco Group, a leading global provider of specialist professional cyber security and compliance solutions, by EQT Mid Market Investment Strategy (EQT Mid Market).

The sellers, PINOVA Capital, BIP Investment Partners and the Utimaco management will all re-invest and remain minority investors. The parties have agreed not to disclose the financial details of the transaction.

White & Case Advises Banks on Securitizations Related to GE Capital Interbanca Group’s Acquisition by Banca IFIS

08 Feb 2017

White & Case LLP has advised Banca IMI, Citibank and Deutsche Bank, as arrangers and senior notes underwriters, and Citibank as hedging provider, on the refinancing of two portfolios of performing financial leasing and a variety of corporate loans originated by GE Capital Interbanca Group in relation to its acquisition by Banca IFIS S.p.A.

Hitachi Capital Corporation acquired all the shares in the capital of Noordlease Holding B.V

08 Feb 2017

Hitachi Capital Corporation acquired all the shares in the capital of Noordlease Holding B.V.,  a Groningen based company that provides high quality auto lease solutions for both private and business clients.The total car park of Noordlease exists out of more than 10.000 cars.  The transaction is part of Hitachi's strategy to expand its vehicle solution business in continental Europe.

Houthoff Buruma team included: Bram Caudri , Daphne van Boxtel , Tessa Rosenberg Polak , Merel Zwankhuizen , Mark Lemmens

Hengeler Mueller advises Brenntag on refinancing by syndicated loan

07 Feb 2017

Brenntag AG ("Brenntag") has refinanced its existing EUR 1.7 bn syndicated loan with improved conditions and credit documentation.

Bank of America Merrill Lynch, BNP Paribas S.A. Niederlasung Deutschland, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, HSBC Trinkaus & Burkhardt AG, ING Bank, a branch of ING-DiBa AG, Landesbank Hessen-Thüringen Girozentrale, Mizuho Bank, Ltd., MUFG (Mitsubishi UFJ Financial Group) and UniCredit Bank AG acted as bookrunners.