Ashurst is advising Wells Fargo Securities and PJT Partners, who are acting as joint financial advisers to Verizon, the US communications company, on its recommended cash offer for Fleetmatics Group plc, a leading global provider of mobile workforce management solutions. Under the terms of the agreement Verizon will pay $60 a share for the company, valuing the offer at approximately US$2.4 billion.
Allen & Overy (A&O) has advised the lenders (Citibank N.A., KfW IPEX-Bank, Standard Chartered Bank, Bank of China Limited, DBS Bank Ltd., Investec Bank Plc and Cathay United Bank (the Lenders)) in relation to the AUD398m (approximately USD300m) project financing of the development of the Victoria International Container Terminal (VICT) in Melbourne, Australia for Philippines port operator International Container Terminal Services, Inc. (ICTSI).
International law firm Watson Farley & Williams (“WFW“) advised MPS Capital Services Banca per le Imprese S.p.A. (“MPS Capital Services”) on the €7m financing, structured as a project financing, of Italian renewables company Northern Star Energy S.r.l. (“Northern Star”), part of ESU Holdings I C.V. Group (acting as sponsor), in order to manage and refinance four solar plants with a total capacity of circa 4 MW, located in the Piedmont and Lombardy regions of northern Italy.
International law firm Watson Farley & Williams (“WFW“) advised BPER Banca (“BPER”) on the transfer of the original €60m financing, from a pool of banks, to the special purpose vehicle (“SPV”) Daunia Candela S.r.l. for the construction, development and management of a wind plant with a total capacity of 39.1 MW, in Candela, Apulia, southern Italy.
Vemedia, a consumer healthcare company that markets leading self-medication brands in selected western European countries and Hong Kong, has been sold by its shareholders to Charterhouse Capital Partners at a value of EUR 375 million. Eubelius assisted Damier Group, a 25% shareholder in Vemedia controlled by Yvan Vindevogel, in connection with the sale as well as the subsequent reinvestment of part of the sales proceeds in the acquisition vehicle.
The Eubelius team for this transaction was led by Erwin Destuyver.
Simpson Thacher represented J.P. Morgan Securities LLC and nabSecurities, LLC, as initial purchasers, in connection with an offering by T.F.S. Corporation Ltd (“TFS”) of $250 million in aggregate principal amount of 8.75% Senior Secured Notes due 2023. TFS intends to use the net proceeds from the offering to redeem its outstanding 11% Senior Secured Notes due 2018 and for general corporate purposes, including potential land acquisitions suitable for the cultivation of Indian Sandalwood.
Hong Kong - Paul Hastings, a leading global law firm, announced today that the firm represented China Everbright Limited (“China Everbright”) in its issuance of US$600 million (RMB$4 billion) panda bonds denominated in RMB, with Everbright Securities Company Limited (“Everbright Securities”) acting as the lead underwriter.
This issuance is the first tranche of panda bonds issued by China Everbright in a proposed series with an aggregate principal amount of not more than US$1.92 billion (RMB12.8 billion).
The Madrid office of Eversheds has advised Credit Suisse on the sale of the former headquarters of Philatelic Forum in Madrid for €30.8 million to Mutua Madrileña, one of the main insurance companies in Spain.
The building acquired by Mutua Madrileña, which belonged to a real estate Credit Suisse fund, is located at José Abascal 51, in the best business area in Madrid and along the Paseo de la Castellana. The new building has a total area of 3,600 square metres which are distributed over 7 floors, plus 62 parking spaces.
Ashurst has advised Macquarie Capital (Australia) Limited (MCAL), as sole lead manager, bookrunner and underwriter on an institutional placement and share purchase plan by Independence Group NL (IGO), to raise up to A$280 million.
Clifford Chance has advised a banking syndicate consisting of Bayerische Landesbank and Raiffeisen International AG on a bond issue by Deutsche Bahn. The volume of the bond, issued by Deutsche Bahn Finance B.V. and guaranteed by Deutsche Bahn AG, is EUR 350 million and the term of the bond is five years.
The yield of the bond is -0.006%. This is the first euro-denominated corporate bond ever issued with a negative yield.