Davis Polk advised the underwriters on a registered shelf takedown of 28,500,000 American depositary shares. The total proceeds of the shelf takedown were approximately $1.3 billion.
Ctrip.com International, Ltd. is a NASDAQ-listed company and a leading travel service provider for hotel accommodations, airline tickets, train tickets, bus tickets, packaged tours and corporate travel management in China.
With a Frankfurt-based team led by Partner Thomas K. Schrell, the business law firm of Heuking Kühn Lüer Wojtek advised a bank consortium led by Kreissparkasse Biberach on restructuring HAM Group’s financing. The consortium of lenders consists of commercial and regional banks. The financing volume was not disclosed.
Heuking Kühn Lüer Wojtek supported the bank consortium comprehensively from structuring the financing to drafting the entire contract documentation and in the subsequent negotiations up to disbursement of syndicated financing.
Davis Polk advised The Royal Bank of Scotland Group plc (RBSG), a public limited company incorporated under the laws of Scotland, in connection with its SEC-registered shelf takedown of $2.65 billion aggregate principal amount of 3.875% senior notes due 2023.
Moscow—VTB Group has boosted its property development business with the acquisition of three projects to build business-class residential developments in Moscow - Tsarskaya Ploshchad, Presnya City, and Basmanny 5 - from leading Russian developer Coalco. Global law firm Dentons advised VTB on the deal.
Leading international law firm Clifford Chance is advising the underwriters, including China International Capital Corporation, Morgan Stanley, Bank of America Merrill Lynch, Goldman Sachs, JP Morgan, as the Joint Sponsors on the US$8 billion listing on the Hong Kong Stock Exchange of Postal Savings Bank of China Co., Ltd. (PSBC). This is the largest share offering globally thus far for 2016. PSBC is a leading retail bank in China with the largest distribution network and largest customer base.
Leading international law firm Clifford Chance advised DBS Bank Ltd., Citigroup Global Markets Singapore Pte. Ltd., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited and Société Générale as joint bookrunners on DBS Group Holdings Ltd.'s first US denominated Basel III compliant Additional Tier 1 perpetual capital securities issuance. The offer was for US$750 million.
Partners Matt Fairclough and Johannes Juette led on the deal. They were assisted by senior associate Michael Weaver and associate Kenneth Teo.
Davis Polk advised the joint lead managers in connection with the first SEC-registered takedown offering of senior notes by Mizuho Financial Group, Inc., which consisted of $1.25 billion aggregate principal amount of 2.273% senior notes due 2021, $1 billion aggregate principal amount of 2.839% senior notes due 2026 and $1 billion aggregate principal amount of floating-rate senior notes due 2021. The notes are structured to count as total loss-absorbing capacity (TLAC) when TLAC regulations are implemented in Japan.
Davis Polk advised the underwriters in connection with an SEC-registered Schedule B debt offering by The Korea Development Bank of $500 million aggregate principal amount of its 1.375% notes due 2019 and $500 million aggregate principal amount of its 2.000% notes due 2026.
The Davis Polk corporate team included partners Eugene C. Gregor and James C. Lin and associate Tae-Hun Kim. Counsel Alon Gurfinkel and associate Veronica Orecharova provided tax advice. Members of the Davis Polk team are based in the Tokyo, Hong Kong and London offices.
Linklaters was pleased to advise DBS Group Holdings Ltd on an offering of US$750m Basel III compliant Additional Tier 1 perpetual capital securities, under its US$30bn Global Medium Term Note Programme.
“This unique and complex transaction was 8.7 times over-subscribed. The strong investor interest enabled the securities to be priced at an initial distribution rate of 3.60% to the benefit of the client,” said Kevin Wong, Partner, Linklaters.
Mr Wong said it was the lowest yield of any U.S. dollar Basel III-compliant AT1 offering globally.
We represented Helsinki Area Cooperative Bank, part of the OP Financial Group, one of Finland's largest banking groups, in court proceedings concerning the scope of the bank's obligation to accept non-EU/EEA identity documents before providing services under the Electronic Identification Services Act and concerning the nature of the assessment that must be performed by the bank. The Administrative Court of Helsinki fully upheld our client's position setting a major precedent for the Finnish banking sector at large.