International law firm Simmons & Simmons has advised Intertrust N.V. on the acquisition of Elian Group from Elian’s management and funds managed by Electra Partners LLP. The parties have signed binding transaction documents that are subject to regulatory and shareholder approval and the transaction is expected to complete within a few months' time.
National law firm Shoosmiths has advised Natwest on a £3.125m funding package to a leading property and land management company, Greenbelt Holdings Ltd (Greenbelt), to support their growth strategy.
The funding will allow Greenbelt to focus on expanding the business across the UK and replaces investment provided by Maven Capital Partners via their Capital for Enterprise fund. Greenbelt currently services some 50,000 homes on around 500 developments throughout the UK and is looking to increase this number.
International technology, media and telecoms law firm Olswang has advised ESF Capital, the institutional marketplace lending accelerator, on its multi-tranche equity investment into Satago, the accounts receivable software business.
Simultaneously, Olswang also advised ESF Capital on its provision of a new debt facility to Satago. The new funding will support the development and growth of Satago's all-in-one cash-flow solution, which combines dynamic single invoice financing with a free, online, universally accessible credit control platform for SMEs.
Freshfields Bruckhaus Deringer LLP ('Freshfields') has advised Nordic Trustee ASA in relation to the financial restructuring of Sterling Resources (UK) Ltd. ('SRUK'), an exploration and production company with oil and gas operations primarily in the North Sea, and Sterling Resources Ltd. ('SRL'), the SRUK Canadian holding company.
The City of Buenos Aires turned to Linklaters and local Argentinian firms Muñoz de Toro and Bruchou for its recent issuance of US$890m 7.5% notes (due 2027) pursuant to its US$2.29b MTN Programme. A portion of the proceeds of this issue will be used by the City to purchase US$239.7 million of the principal amount of its Series 10 Notes pursuant to a cash tender offer that expired on May 23, 2016, with the balance used to finance the City’s infrastructure projects.
The transaction closed on June 1, 2016.
King & Wood Mallesons (KWM) has advised the listed company FinLab AG (FinLab) on a seven-figure growth financing package provided to the Darmstadt-based technology company AUTHADA GmbH (AUTHADA).
Global law firm Norton Rose Fulbright has advised Hermes GPE LLP (Hermes) in connection with the acquisition of a 17.1% ownership stake in Southern Water by its clients.
The deal will see Hermes’ overall management ownership interest in Southern Water rise to 21%.
The High Yield Bond team at Hogan Lovells continues its progress by acting for the underwriters of Rexel's €650 million public high yield bond offer. Rexel, a global leader in the professional distribution of products and services for the energy world, issued €650 million 3.50% Senior Notes (the Notes) on May 18 2016. The Notes are listed on the Official List of the Luxembourg Stock Exchange, and trade on Luxembourg's Euro MTF market.
Schoenherr advised an international banking syndicate comprising Morgan Stanley (technical lead), UBS, J.P. Morgan and HSBC, as Joint Lead Managers on the successful issuance of a EUR 500 million undated and subordinated fixed to fixed resettable bond by Vienna-based Erste Group Bank AG (Closing Date 2 June 2016). The bond was structured to comply with the eligibility criteria for Additional Tier 1 (AT1) capital under the CRR. It was issued as a drawdown under Erste Group's EUR 2,000,000,000 Additional Tier 1 Notes Programme dated 20 April 2016, and is listed on the Vienna Stock Exchange.
Allen & Overy LLP advised Dexia Kommunalbank Deutschland AG (DKD) in connection with a Public Pfandbrief with an aggregate principal amount of EUR 500 million.
The 0.05% fixed-rate Public Pfandbrief due 2021 is the first benchmark issue by DKD in this year. The Public Pfandbrief is admitted to trading on the regulated market of the Berlin Stock Exchange.
The syndicate of financing banks included Bayerische Landesbank, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, DZ BANK AG and UniCredit Bank AG.