HONG KONG – Allen & Overy said today the USD300 million Samvardhana Motherson Automotive Systems Group B.V. high yield notes issue, the first from India in more than a year, could signal a reopening of the Indian high yield market.
Samvardhana Motherson is the Dutch subsidiary of Motherson Sumi Systems Limited, one of the largest automotive parts suppliers globally.
Freshfields has advised Abu Dhabi-based First Gulf Bank PJSC on its proposed merger with National Bank of Abu Dhabi PJSC
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Abu Dhabi-based First Gulf Bank PJSC (‘FGB’) on its proposed merger with National Bank of Abu Dhabi PJSC (‘NBAD’).
Shearman & Sterling advised Titan Global Finance on its offering of €300 million offering of 3.500 percent guaranteed notes due 2021, as well as its cash tender offer for its outstanding 8.75 percent guaranteed notes due January 2017. The offering closed on June 17, 2016.
Dechert has advised Bank Audi, and its Turkish subsidiary, Odea Bank, on a TL 1.0 billion capital increase of Odea Bank. The transaction, which was entered into on June 27, 2016, represents the largest cash capital increase in the Turkish banking sector in recent years.
A cross-border team of lawyers from Baker & McKenzie SCP (Paris) and Esin Attorney Partnership (Istanbul), a member firm Baker & McKenzie International, advised Commerzbank and a syndicate of international banks on their extension of a multi-tranche term loan facility to the Industrial Development Bank of Turkey (TSKB). The loan, some US $280M, is the largest ever raised in the Borrower’s history.
Ashurst is advising UBS Switzerland AG on the UK aspects relating to the financing of the proposed acquisition of Premier Farnell plc ("Premier Farnell") by Dätwyler Holding AG.
Under the offer, each Premier Farnell shareholder will be entitled to 165 pence in cash for each Premier Farnell share. The offer values Premier Farnell's issued and to be issued share capital at approximately £615 million. The transaction is expected to be completed in the fourth quarter of 2016.
Clifford Chance has advised BNP Paribas, Crédit Agricole Corporate CIB, ING and Société Générale Corporate & Investment Banking on the issue of EUR 350 million 0.75% Notes due 2021 by Christian Dior.
De Brauw Blackstone Westbroek has advised Rabobank and its subsidiary DLL on selling their mobility solutions entity Athlon Car Lease International, including all its subsidiaries, to Mercedes-Benz Financial Services Nederland, a part of the Daimler Financial Services global network.
The sale transaction is expected to be completed by the end of 2016, once all required approvals and consents have been obtained from the necessary regulatory authorities and other relevant bodies. The consideration for the shares amounts to EUR 1.1 billion.
Travers Smith LLP has advised Lloyds Bank plc and Commerzbank AG in relation to the provision of multi-currency term and revolving facilities to a special purpose vehicle established by Ancala Partners LLP ("Ancala") in order to fund its acquisition of the entire issued share capital of International Energy Group Limited and its subsidiaries ("IEG").
IEG is a leading natural gas distribution and supply business located in Guernsey, Jersey and the Isle of Man, with more than 40,000 customers connected to its networks in the Channel Islands and Isle of Man.
Jones Day advised CaixaBank, S.A. in connection with the sale and purchase agreement and refinancing of the "Zorita" photovoltaic solar plant project located in Salamanca, Spain.
For additional information about this matter, please contact: Javier López Antón
Client(s): CaixaBank, S.A.
Practice(s): Projects & Infrastructure, Banking & Finance, Energy
Office(s): Madrid