Jakarta: Herbert Smith Freehills has advised the underwriters on the IDR3.75 trillion (US$275.7 million) IPO on the Indonesia Stock Exchange and Rule 144A/Regulation S global offering of PT Cikarang Listrindo Tbk.

Cikarang Listrindo is the first independent power producer to go public in Indonesia. This transaction represents the largest IPO in Indonesia so far in 2016.

Herbert Smith Freehills acted alongside its longstanding associate Indonesian firm Hiswara Bunjamin & Tandjung (HBT) who acted as Indonesian counsel for the underwriters.

Hogan Lovells has acted for ING Bank N.V. ("ING") in its capacity as co-ordinating bookrunner and mandated lead arranger in a borrowing base revolving credit facility (BBF) for NLMK Sales Europe (NSE). NSE is part of the NLMK Belgium Holdings, owned by one of the world's leading steel companies NLMK Group and the Walloon Region investment company SOGEPA.

SINGAPORE, June 16, 2016 – Reflecting the strength of its large-scale project finance and energy work in Asia, Milbank, Tweed, Hadley & McCloy LLP has advised Japan Bank for International Cooperation (JBIC),  The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) (as Documentation Bank) and 8 commercial lenders on the development and financing of a US $4.3 billion 2,000-megawatt coal-powered electricity generation plant in Central Java, which on completion will be one of the largest IPP’s in Asia.

Global law firm Norton Rose Fulbright has advised UniCredit Bank Austria AG (“UniCredit”) on a €250m trade financing to Socar Trading Group (“Socar”). Headquartered in Geneva, Switzerland, Socar trades and distributes crude oil worldwide. It was incorporated in 2007 and it has trading offices in Geneva, London, Singapore, and Dubai; representative offices in Cairo, Istanbul, Lagos, and Monaco; and an oil products storage terminal in Fujairah, United Arab Emirates.

Supreme Court confirms LBG’s right to redeem Enhanced Capital Notes

Global law firm Norton Rose Fulbright has successfully advised Lloyds Banking Group (LBG) in a matter before the UK Supreme Court (BNY Mellon Corporate Trustee Services Limited (Appellant) v LBG Capital No 1 Plc and another (Respondents) [2016] UKSC 29).

At issue in the appeal was whether LBG was entitled to redeem £3.3 billion of enhanced capital notes (ECN) and whether a regulatory review counted as a capital-disqualification event that affected the ECN investment terms.

A US$360 million loan facility to support the construction of two new liquid natural gas (LNG) vessels has been awarded the Marine Money Deal of the Year - Project Finance East.

Singapore office advised Sumitomo Mitsui Banking Corporation (SMBC)as lead arranger on secured loan facilities up to US$360 million for the purchase of two LNG new buildings by SPVs owned by BW Pavilion (which is a joint venture between BW and Pavilion Energy).

DLA Piper has advised Liberum Capital Limited on their appointment as sole bookrunner and nominated adviser on the IPO of Time Out Group plc and its admission to AIM.

The IPO included a capital raise of £90 million by an issue of 60 million new ordinary shares at a price of £1.50 per share. Based on this issue price, the market capitalisation of the company on admission was £195 million.

Leading international law firm Clifford Chance advised on two key issuances highlighting the firm's US capability in Asia Pacific.

Shearman & Sterling advised ABN AMRO, Morgan Stanley, Barclays, Deutsche Bank, Rabobank, KBC and NIBC, as underwriters, in connection with the initial public offering and listing on Euronext Amsterdam of Basic-Fit.

As part of the IPO, Basic-Fit issued 24,666,667 new ordinary shares and the selling shareholders offered 2,000,000 existing ordinary shares. The total gross proceeds from the IPO amounted to €400 million (prior to exercise of the over-allotment option).

International law firm Watson Farley & Williams (“WFW“) advised Iccrea Bancaimpresa S.p.A. (“Iccrea”), the corporate banking arm of Credito Cooperativo, Credito Cooperativo Romagnolo – BCC di Cesena and Gatteo S.c. on their €4.4m financing of Italian maritime company Gruppo Righetti Navi.