DUBAI, 20 October 2016 – Hogan Lovells has advised the Islamic Corporation for the Development of the Private Sector (ICD) as Lead Arranger on the issuance of three sovereign sukuk in West Africa.
These include sophomore issuances for the Government of Cote d'Ivoire and the Government of Senegal, and a debut issuance for the Republic of Togo.
On October 9, 2016, Banco Santander Rio and Citi announced that they have reached a definitive agreement under which Citi will sell its consumer banking business in Argentina to Banco Santander Rio. The sale involves approximately US$1.4 billion in assets in Argentina and includes credit cards, personal loans and Citi Argentina’s retail brokerage business, as well as deposit accounts. Cravath represents Banco Santander Rio in connection with the transaction.
Advanced Accelerator Applications S.A, a French radiopharmaceutical company specialized in the field of Molecular Nuclear Medicine, announced the public offering of 3,947,369 American Depositary Shares (ADS). The offering closed on October 12, 2016; gross proceeds of the sale of the ADSs was approximately US $172.5 million.
J.P. Morgan Securities, Jefferies LLC and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. Canaccord Genuity Inc. and JMP Securities LLC acted as co-managers.
Herbert Smith Freehills has advised National Australia Bank Limited (NAB) on the sale of 80% of its life insurance business to Nippon Life Insurance Company (Nippon Life) for A$2.4 billion.
The transaction was completed almost a year after being agreed in October 2015.
NAB retains a 20% interest in the life insurance business, as well as full ownership of its existing investments business which includes superannuation, platforms, advice and asset management.
Allen & Overy advised the bookrunning lead managers on the recent qualified institutions placement of shares by leading global auto parts business, Motherson Sumi Systems Ltd (MSSL).
The transaction involved a private placement of shares into the U.S. under Section 4(a)(2) of the U.S. Securities Act of 1933 (Securities Act) and an offering outside the U.S. in reliance on Regulation S of the Securities Act.
Allen & Overy has advised India’s largest bank, State Bank of India (SBI), on its sale of USD denominated Additional Tier 1 bonds, the first transaction of its kind.
In light of new capital requirements, these Basel III compliant bonds provide India’s banks, particularly its public sector banks, with a non-dilutive method of shoring up regulatory capital. The execution of this transaction was highly complex, requiring structural expertise and deep institutional and regulatory knowledge.
Clifford Chance has advised Société Générale as Sole Bookrunner on the sale by AMORIN ENERGIA BV of 5% of the share capital of GALP ENERGIA SGPS, S.A.
The transaction was valued at €484,696,999, corresponding to a price of €11.69 per share, and closed on 20 September 2016.
DWF has advised Investec Bank plc in relation to a £17m placing by AIM listed interior furnishings group Walker Greenbank plc
The firm’s London-based corporate team advised Investec, which acted as nominated adviser and broker to Walker Greenbank, in a transaction that will allow the furnishings company to fund its strategic acquisition of UK-headquartered fabrics distributor Clarke & Clarke.
DWF has advised Investec Bank plc in relation to a £17m placing by AIM listed interior furnishings group Walker Greenbank plc
The firm’s London-based corporate team advised Investec, which acted as nominated adviser and broker to Walker Greenbank, in a transaction that will allow the furnishings company to fund its strategic acquisition of UK-headquartered fabrics distributor Clarke & Clarke.
Shearman & Sterling advised Jerrold Holdings Limited (“Jerrold” or “Together”) on the offering by its wholly owned subsidiary, Jerrold FinCo plc (the “Issuer”) of its £375 million aggregate principal amount of 6.250% senior secured notes. The notes are due 2021 under an indenture dated October 13, 2016 and are guaranteed by Jerrold and all of its subsidiaries other than the Issuer and certain dormant and non-material subsidiaries.