Watson Farley & Williams (“WFW”) has advised a syndicate of banks consisting of BNP Paribas, BMO, Commonwealth Bank of Australia, Danske Bank, DnB Bank, ING, The Royal Bank of Scotland, SEB, SR-Bank and Wells Fargo, on two major banking facilities in favour of Faroe Petroleum to finance its expansion.
The two facilities are:
On December 21, 2016 the Swiss Competition Commission announced settlements and fines in total of almost CHF 100 million in its IBOR investigations, according to WEKO among the most "complex" investigations in its history. The investigations began in February 2012 and were triggered by respective investigations namely in the European Union and in the United States. Lenz & Staehelin represented Deutsche Bank AG in the relevant EURIBOR and Yen LIBOR investigations. Deutsche Bank AG was exempted from fines for EURIBOR.
Dentons have advised on the early termination of the agreement regarding the rescheduling of Beghelli Group’s financial debt. The agreement was originally executed with credit institutions in 2013, and in accordance with the pre-insolvency procedures pursuant to Article 67, third paragraph, point d) of the Italian Bankruptcy Law.
The Dentons team of Italy Managing Partner Federico Sutti and Senior Counsel Cristian Fischetti assisted banking institutions involved in the agreement.
Ashurst has advised the lenders, The Export Import Bank of Korea (K-EXIM) and the commercial funders, Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation Europe Limited, on the successful closing of the Fujeij wind farm project in Jordan, which reached financial close on 16 December 2016.
Clifford Chance has advised BOC International acting as sole Bookrunner and Manager on Air France-KLM's bond issuance made by way of an unlisted private placement with Asian institutional investors.
The senior issue of $ 145 million 4.35% fixed rate Notes due 15 December 2026 was backed by a standby letter of credit granted by Bank of China Limited, Paris Branch.
The Clifford Chance team was led by Cédric Burford, partner in the Paris office, assisted by Marie-Caroline Schwartz and Andrew McCann, senior associates.
Clifford Chance advised Czech bank Ceska sporitelna on the financing of the aquisition of electroplating plastic and injection moulding specialist Fischer surface technologies by funds advised by DPE Deutsche Private Equity GmbH. The parties agreed not to disclose any details regarding the volume of the financing.
Baker McKenzie advised the start-up company BillFront on the debt capital tranche of a financing by several investors. The Berlin-based company, a start-up specialized in the financing of digital advertising companies with a branch in London, secured a total of 33 million euros in the financing round.
Shearman & Sterling is advising Fairfax Financial Holdings Limited on its proposed acquisition of Allied World Assurance Company Holdings, AG. Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Allied World, through its subsidiaries and brand known as Allied World, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions.
Baker McKenzie has advised BNP Paribas which acted as documentation agent and lead arranger of a term loan taken out by EEHC (Egyptian Electricity Holding Company), as well as the banking syndicate involved in the operation. This 470 million dollar loan will make it possible to convert two power plants, in Assiut and West Damietta, from simple cycle to combined cycle. In the context of this financing, EEHC is covered by a guarantee from the Egyptian Ministry of Finance. The signing ceremony for the financing agreements will be held today in Cairo.
Addleshaw Goddard's Hong Kong equity capital markets team (ECM) has capitalised on the surge in liquidity in the Hong Kong initial public offering (IPO) market, to complete its fourth IPO in as many weeks – advising the sponsor, Guotai Junan Capital Limited, and the underwriter, Guotai Junan Securities (Hong Kong) Limited on the top–tier HK$1.2bn (£124m) listing of Nanfang Communication Holdings Limited, a high profile Chinese company in the Telecoms sector, on the Main Board of the Hong Kong Stock Exchange (HKEX).