Shearman & Sterling advised the joint bookrunners, led by Deutsche Bank, on DEA’s debut €400 million offering of senior notes. The notes bear an interest rate of 7.50% and are due in 2022. The proceeds of the offering will be primarily used to partially repay (without cancelling) certain existing debt.
The Freshfields team advising on the transaction was led by corporate partners Teresa Ko, Calvin Lai and Richard Wang
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised on the US$1.5bn IPO of China Merchants Securities Co. Ltd (‘China Merchants Securities’). Freshfields acted as Hong Kong and US legal counsel to the underwriters China Merchants Securities HK, JPMorgan Securities (Far East) and Morgan Stanley Asia Limited.
International law firm Clifford Chance has advised CDC Group plc, the UK's Development Finance Institution, on a major investment in East Africa which was closed and announced this week.
The investment, closed on 3 October, saw CDC make a primary equity subscription of US$ 140 million in ARM Cement Limited, a listed Kenyan company which produces cement, lime and fertilizer in Kenya, Tanzania and Rwanda. This is the largest announced equity investment transaction in East Africa this year. Anjarwalla & Khanna provided Kenyan law advice to CDC.
Leading international law firm Clifford Chance has advised Maybank Investment Bank Berhad, on Sime Darby Berhad’s US$571 million placement of 316.3 million shares in the largest share placement and equity capital market deal of the year in Malaysia outside of rights offers, and the second largest for 2016 in South East Asia.
The team was led by capital markets partner Raymond Tong, who was supported by senior associates Chong Ying Chiang and Jonathan Crandall.
Vinge has advised a syndicate of banks consisting of ABG Sundal Collier AB and Swedbank AB in connection with the logistics property company Catena AB’s SEK 330 million brokered private placement. Catena is listed on Nasdaq Stockholm.
Vinge’s team consisted of Jesper Schönbeck and David Andersson.
The notes are unconditionally guaranteed by Ultrapar Participações S.A. and Ipiranga Produtos de Petróleo S.A.
The team included: Peter Adriaansen, Janneke Versantvoort, Judith Raijmakers, Arnaud Barchman, Cédric Raffoul and Siobhan McCarthy.
Obvion, one of the Netherlands’ leading mortgage providers, raised circa EUR 2 billion through the issuance of mortgage-backed bonds in the STORM 2016-II transaction. As a feature thus far unseen in RMBS transactions, the most senior tranche of the bonds was issued above par, at 101.49 per cent. This premium compensates the Issuer and Obvion for the relatively high coupon of 3m Euribor +60 bps. By setting the margin at 60bps, Obvion decreases the likelihood of hitting the floor of zero of the senior bond coupon (with 3m Euribor currently around -30bps).
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised on the IPO of Rici Healthcare Holdings Limited (‘Rici Healthcare’). Freshfields acted as US and Hong Kong legal counsel for the underwriters BNP Paribas Securities (Asia) Limited, Credit Suisse (Hong Kong) Limited, CMB International Capital Limited and BOCI Asia Limited.
Allen & Overy is advising Africa Finance Corporation (AFC) and the Pan African Infrastructure Development Fund, an infrastructure fund managed by Harith General Partners (Harith), on the establishment in a number of African countries of a joint venture capable of generating 1,575 megawatts of electricity from power generation assets totalling USD3.3 billion.
On 3 October 2016 Rentel NV secured EUR 850 million in debt funding for the financing of its 309 megawatt offshore wind farm to be located in the North Sea (between Thornton Bank and LodewijkBank), approximately 40 kilometers north of Ostend (Belgium). The construction of the wind farm, consisting of 42 turbines, is expected to start in May 2017 and to be completed by the end of 2018.