NorCell Sweden Holding 3 AB (publ) successfully issued SEK 2,250,000,000 senior unsecured notes carrying a fixed rate coupon of 3.5 per cent. due 2022. The net proceeds of the issue were used to redeem the issuer’s 2014/2019 senior unsecured notes. An application for a listing of the new notes on Nasdaq Stockholm will be made.
We advised Sp Mortgage Bank Plc in the establishment of a EUR 3,000,000,000 mortgage covered bond programme. Under the programme, Sp Mortgage Bank Plc may issue covered bonds that may be listed on the regulated market.
Sp Mortgage Bank Plc issued on 29 November 2016 an inaugural 5-year EUR 500 million covered bonds due 2021. The issuance was documented under the newly established programme and listed on the Irish Stock Exchange. Credit rating agency S&P assigned 'AAA' ratings to Sp Mortgage Bank Plc's mortgage covered bond programme and inaugural issuance.
Vinge advises Swedbank AB (publ) in connection with two share issues in Brinova Fastigheter AB (publ), both a rights issue of shares of class B amounting to approximately SEK 210 million, as well as a share issue of shares of class B to the general public, amounting to approximately SEK 48 million, with deviation from the shareholders pre-emption rights. A prospectus was published on 29 November 2016. Brinova Fastigheter is listed on Nasdaq First North Premier.
Vinge’s team consists of Jesper Schönbeck and Nils Fredrik Dehlin.
Shearman & Sterling advised the initial purchasers, J.P. Morgan, BNP Paribas, Credit Suisse, Deutsche Bank and Oddo, in connection with Autodis S.A.’s offering of its €260 million 4.375% senior secured fixed rate notes due 2022 and €260 million senior secured floating rate notes due 2022. The proceeds from the offering were used to redeem the entire aggregate principal amount of the €270 million 6.500% senior secured notes due 2019 issued by Autodis S.A.
Travers Smith LLP has acted for Investec Bank plc in its capacity as sponsor, financial adviser, bookrunner and broker on the £94 million placing and open offer of new ordinary shares issued by Sanne Group plc.
Sanne is a specialist provider of outsourced corporate, fund and private client administration, reporting and fiduciary services. The proceeds of the placing are to be primarily utilised by Sanne to fund the Class 1 acquisition of the IFS Group, a Mauritius-based fund administration business.
The shares in Volati AB (publ) have on 30 November 2016 been admitted to trading on Nasdaq Stockholm. In connection with the listing, the general public in Sweden and qualified investors were offered newly issued ordinary shares corresponding to approximately 24 per cent of the total number of ordinary shares in the company.
In addition to the offering of ordinary shares, Volati’s preference shares, which have been traded on Nasdaq First North Premier since June 2015, were admitted to trading on Nasdaq Stockholm.
Dentons advised Banca Popolare di Milano, Intesa SanPaolo and Banca IMI on the €40 million refinancing of Linkem. The new credit line will help finance Linkem’s ongoing future development, in line with the company’s strong performance to date.
Dentons Banking and Finance team in Milan advised the three banks on the deal. The team was led by Partner Alessandro Fosco Fagotto, and included Senior Associate Edoardo Galeotti and Trainee Rosalba Pizzicato.
Orrick's Paris team advised a pool of lenders including CACIB, Caisse d’Épargne et de Prévoyance Nord France Europe, Natixis and Société Générale in connection with the €400 million financing of a public service delegation contract for the rollout of a high-speed Internet network in the Haut de France region (North of France). This ambitious project – with a total global investment of approximately €700 million – aims to serve 1,159 French towns with broadband by 2020.
Davis Polk advised the underwriter in connection with an SEC-registered Schedule B debt offering by KEXIM of $200 million aggregate principal amount of its floating-rate notes due 2018.
KEXIM is an official export credit agency providing comprehensive export credit and guarantee programs to support Korean enterprises conducting overseas business.
Gide has advised Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) on the acquisition of RBS Asia Limited, a subsidiary of Royal Bank of Scotland, which consists primarily of the Korean Securities franchise.
With the completion of the transaction of this securities franchise in Korea, Crédit Agricole CIB is well-positioned to better serve its clients and to capture growing business opportunities, notably regarding debt issuances and fixed income investment products.
Legal counsel to Crédit Agricole CIB: