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Finance & Banking

Nabarro advises on a £37.6m placing and open offer by SKIL Ports and Logistics

10 Nov 2016

Nabarro is advising Cenkos Securities plc as nominated adviser and broker on the £37.6m placing and open offer by AIM-listed Indian ports developer, SKIL Ports and Logistics Limited. The proceeds of the placing and open offer will be used by SKIL Ports and Logistics to complete the development of its major port project at Navi Mumbai and bring the port to operational status.

The Nabarro team was led by Corporate partner and Head of India Group, Alasdair Steele, who was assisted by senior associate Sarah Etherington. DWF is advising SKIL Ports and Logistics.

KWM advises the trustees on the first China green covered bonds issue

10 Nov 2016

King & Wood Mallesons (KWM) has advised HSBC as trustee and security trustee in Bank of China’s inaugural green covered bond offering of US$500 million 1.875 per cent due 2019 to be listed on the London Stock Exchange.

The landmark transaction is the first international issue by a Chinese entity that is secured by domestic green bonds traded on the China interbank bond market, proceeds from which are used to fund eligible green projects in renewable energy, pollution prevention and control, clean transportation, and sustainable water management.

White & Case Advises Atlantia on the Establishment of €3 Billion EMTN Programme

10 Nov 2016

White & Case LLP has advised Atlantia S.p.A. on the establishment of its €3 billion Euro Medium Term Note Programme.

The base prospectus for the programme was approved by the Central Bank of Ireland and the Irish Stock Exchange.

The White & Case team which advised on the transaction was led by partners Michael Immordino (Milan & London), Ferigo Foscari and local partner Paul Alexander (both Milan) together with associates Louise Ruggiero and Davide Diverio (both Milan).

McDermott Advises Bayerische Landesbank on Refinancing Portfolio of Italian Renewable Power Plants

10 Nov 2016

McDermott Will & Emery successfully assisted Bayerische Landesbank, Anstalt des öffentlichen Rechts (BayernLB) in a refinancing of a portfolio of Italian photovoltaic plants owned by CIC Renewable Energies Group. The three plants, with an aggregated capacity of 12 MW, are located in the municipality of Ceneselli in the Veneto Region of Italy.

Ashurst advises banks on €87.9 million project financing for wind farm in Melfi

09 Nov 2016

Ashurst advised ING Bank N.V., UniCredit S.p.A. and Siemens Bank GmbH in connection with the structuring and arranging up to a maximum of €87.9 million senior debt facilities for the development, construction and operation of a 60 MW onshore wind farm located in Melfi, Italy. The project is being developed by a subsidiary controlled by Glennmont, a major infrastructure fund.

The Ashurst team was led by Milan-based energy partner Carloandrea Meacci, assisted by associates Federica Periale and Andrea Semmola.

Renewable experts advise on debt financing package for Queensland’s largest wind farm

09 Nov 2016

Herbert Smith Freehills has advised the commercial lenders to the RATCH-Australia sponsored Mount Emerald Wind Farm on the debt financing package and the construction and operation aspects of the project.

ANZ, Bank of Tokyo-Mitsubishi UFJ, NAB and Société Générale participated as lenders in the project finance construction and term debt financing package.

White & Case Advises on Restructuring of Secured Financings to Industries Chimiques du Senegal

09 Nov 2016

White & Case LLP has advised La Banque Internationale pour le Commerce et l'Industrie du Sénégal, CBAO Groupe Attijariwafa Bank, Crédit du Sénégal and Banque Islamique du Sénégal as lenders on the restructuring of several secured financings to Industries Chimiques du Sénégal (ICS), the largest industrial complex in Senegal, which produces phosphate, phosphoric acid and fertilizers.

Shearman & Sterling Advises J.P. Morgan, Citigroup and Eurobank on WIND Hellas' High Yield Bond Offering

09 Nov 2016

Shearman & Sterling advised J.P. Morgan, Citigroup and Eurobank on WIND Hellas’ high yield bond offering, the first such offering after the company’s debt restructurings in 2009 and 2010. The offering comprised €250 million, 10% senior secured notes due 2021 issued by WIND Hellas’s direct parent, Crystal Almond S.à r.l. The proceeds of the offering will be used to refinance existing indebtedness of the WIND Hellas group, to pay fees and expenses related to the offering and for general corporate purposes, including capital expenditure investments.

NorthStar to Sell $1 Billion Stake in Health Care Portfolio

08 Nov 2016

Paul, Weiss client NorthStar Realty Finance Corp. announced that it has agreed to sell a $1 billion joint venture interest in its health care real estate portfolio, at a total valuation of $6.1 billion, to Taikang Insurance Group. Taikang, a leading Chinese insurer, will have a 19 percent interest following the transaction, which is expected to close in the first quarter of 2017.