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Finance & Banking

WFW advises Nordea Bank AB (publ) on €280m loan facility to AS Tallink Grupp

12 Jan 2017

Watson Farley and Williams LLP (“WFW”) advised Nordea Bank AB (publ) (“Nordea”) in relation to a €280m loan facility for AS Tallink Grupp.  The loan facility was advanced on 20 December 2016 and refinanced an existing €440m loan facility and provided finance for the working capital and general corporate purposes of AS Tallink Grupp and its subsidiaries.  The facility is secured by mortgages over five ferries with primary registrations in Sweden, Cyprus and Finland.  Mandated lead arrangers are Nordea Bank Finland Plc, Danske Bank A/S, KfW IPE

Noerr advises Volkswagen Financial Services AG on the acquisition of a majority interest in LogPay Transport Services GmbH

11 Jan 2017

Noerr has advised Volkswagen Financial Services AG on another strategic investment in a German company. Europe’s largest automotive financial services provider is acquiring around 51 per cent of the shares in LogPay Transport Services GmbH, a subsidiary of DVB Bank SE, thereby expanding its stake in the cross-European business in fuel cards and service cards and the fuel trade.

Herbert Smith Freehills advises on landmark Jordanian transaction – sale of 52% stake in listed bank

11 Jan 2017

Herbert Smith Freehills has advised MESC Investments PSC and its shareholders including Dubai Islamic Bank on the sale of MESC Investments' indirect 52% equity stake in Jordan Dubai Islamic Bank, an Islamic financial institution listed on the Amman Stock Exchange.

Dubai Islamic Bank, the largest Islamic Bank in the United Arab Emirates, held an indirect 20.8% stake in Jordan Dubai Islamic Bank through its 40% shareholding in MESC Investments. The stake was purchased by a consortium comprising of Bank Al Etihad and Etihad Islamic Investment Company.

Allen & Overy advises syndicate of banks on financing coastal power plant K.I.E.L.

11 Jan 2017

Allen & Overy LLP has advised a syndicate of banks comprising Berliner Sparkasse, branch of Landesbank Berlin AG, Commerzbank Aktiengesellschaft, ING Bank, a branch of ING-DiBa AG, Landesbank Hessen-Thüringen Girozentrale, SEB AG and Investitionsbank Schleswig-Holstein, in connection with arranging financing for a new energy supply system (the K.I.E.L. (standing for the German for Kiel's Intelligent Energy Solution) coastal power plant) for Stadtwerke Kiel AG. Commerzbank Aktiengesellschaft is also acting as facility agent.

Indonesia: Linklaters advises on another major Chinese energy project as part of the “Belt and Road” initiative

11 Jan 2017

Linklaters has advised China Development Bank Corporation on the project development and financing of the 2x1,050 megawatt Jawa 7 coal-fired power plant to be constructed in Banten Province, Indonesia. China Development Bank Corporation acted as lender and mandated lead arranger in connection with the provision of approximately US$1.3 billion in financing for the Jawa 7 project. The deal team included lawyers from Widyawan & Partners, Linklaters’ associated firm in Indonesia.

Linklaters advised Xiamen International Bank on its Acquisition of a Majority Stake in Chiyu Bank

11 Jan 2017

Linklaters advised Xiamen International Bank (XIB) on its acquisition of approximately 64% of Chiyu Banking Corporation from BOC Hong Kong.

XIB is a Chinese commercial bank headquartered in Xiamen City, Fujian Province, the People's Republic of China. It also owns Luso International Bank in Macau. Chiyu Bank is a licensed bank in Hong Kong with a network of 24 branches in Hong Kong and two branches and two sub-branches in mainland China.

Clifford Chance advises NIBC Bank Deutschland and Delta Lloyd Asset Management on whole business transaction for the refinancing of a photovoltaic lease portfolio of MEP Werke GmbH

11 Jan 2017

Clifford Chance has advised NIBC Bank Deutschland AG and Delta Lloyd Asset Management on the refinancing of its warehousing for a portfolio of photovoltaic leases originated by MEP Werke GmbH in 2015 and 2016.

The refinancing by Delta Lloyd Asset Management of a warehousing originally provided by NIBC Bank Deutschland AG was implemented via the existing Irish platform Deutsche Ökostrom Limited. It achieves a long-term refinancing of MEP Werke Group's photovoltaic power plant lease model.

Ashurst advises BNP Paribas Securities Services on first bond in hydric sector in Italy

10 Jan 2017

Ashurst advised BNP Paribas Securities Services as principal paying agent, security agent and noteholders' representative on the EUR 100 million project bond issued by Metropolitana Milanese S.p.A., due 2035.

This is the first bond in the hydric sector under the project bond regulation in Italy, aimed at financing the improvement of the quality of water-related services in Milan.

Euronext makes irrevocable €510 million (US$530 million) cash offer to acquire LCH.Clearnet SA

10 Jan 2017

Jones Day is advising Euronext N.V. in relation to its binding all-cash offer of €510 million (US$530 million) to LCH.Clearnet Group Limited and London Stock Exchange Group plc to acquire LCH.Clearnet SA, a leading EMIR-authorized central counterparty serving Euronext's markets, pan-European electronic trading platforms, and OTC markets, which is headquartered in Paris with branches in Amsterdam and Brussels, as well as a representative office in Porto.

Shearman & Sterling Advises BayernLB on the Financing of the Acquisition of HOFFMANN Fördertechnik GmbH by AFINUM

09 Jan 2017

Shearman & Sterling advised BayernLB on the financing of the acquisition of HOFFMANN Fördertechnik GmbH (“HOFFMANN“), one of the leading manufacturers of lifting gear, by AFINUM Siebte Beteiligungsgesellschaft mbH & Co. KG as part of a succession regulation.

The acquisition of HOFFMANN Fördertechnik is the seventh deal from its latest buyout fund AFINUM Siebte Beteiligungsgesellschaft mbH & Co. KG, initiated on October 2013.