Herbert Smith Freehills is pleased to have advised the Joint Sponsors and Underwriters of Yancoal Australia Ltd’s (Yancoal) dual primary listing on the Hong Kong Stock Exchange (HKEx) and public offering (IPO) to raise HK$1.605 billion.

Morgan Stanley Asia Limited, CMB International Capital Limited and BOCI Asia Limited acted as Joint Sponsors on the IPO, which marks the first dual primary listing of an Australian company on both the HKEx and Australian Stock Exchange (ASX).

Slaughter and May, Hong Kong, has advised on the dual primary listing and global offering of shares of Yancoal Australia Ltd (YANCOAL AUS) on the Main Board of the Hong Kong Stock Exchange, raising approximately US$151 million through the issue of new shares constituting approximately 4.52% of its enlarged issued share capital. Yancoal Australia Ltd is the first dual primary listed company on the Australian Securities Exchange and on the Hong Kong Stock Exchange.

Clifford Chance has advised abcfinance GmbH, a subsidiary of Wilh. Werhahn KG, on the acquisition of G.R. Factoring GmbH. The partners of G.R. Factoring GmbH, the founder Gert Rees and his two daughters, are acting as sellers. The parties have agreed not to disclose any details of the purchase price.

abcfinance GmbH, based in Cologne, is one of the leading financial service providers for movables leasing, factoring and solutions for sales financing/strategic partnerships for SMEs in Germany. Founded in 1976, the company now has around 640 employees.

Jones Day advised Banca IMI and BNP Paribas, as dealers, and Invest Banca and Credit Agricole e Banca Akros S.p.A., as co-dealers, in connection with the €2.1 billion (US$2.3 billion) issuance of the new 4-year BTP Italia, indexed to Italian inflation (Ex Tobacco). The new bond is placed on the market through the screen based MoT platform of Borsa Italiana into two phases: the first phase is reserved to individual savers; the second, subsequent, is reserved to the institutional investors.

Contact: Piergiorgio Leofreddi

Cravath represented the European Investment Bank in connection with its $1 billion registered SOFR-linked floating rate notes offering. The European Investment Bank, which functions as the bank of the European Union, supports projects that make a significant contribution to growth, employment, economic and social cohesion and environmental sustainability, both in the EU and beyond. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on December 5, 2018.

International law firm Ashurst advised the lenders on the financing of a captive 15.64 megawatt solar photovoltaic power project in Jordan (the Project) to be built and operated by a subsidiary wholly-owned by Adenium Energy Capital Ltd.

The plant will be constructed in Rashidiya, which is situated 4 kms from Tafila in Jordan. The electricity generated will be used to power a cement plant adjacent to the site under an energy savings contract and based on a net metering arrangement. This Project is one of the very few private offtaker transactions in the Middle East.