Cravath represented the initial purchasers, led by J.P. Morgan Securities, in connection with the €471 million 144A/Reg. S high-yield senior secured floating rate and senior secured fixed rate notes offering of BiSoho S.A.S., a portfolio company of Shandong Ruyi Group. Proceeds of the offering will be used to finance the acquisition of SMCP S.A.S., a international apparel and accessories retail group. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on May 18, 2016.

Global law firm White & Case LLP has advised Belfius Bank SA/NV on its inaugural Tier 2 benchmark issue of €500 Million 3.125 percent Subordinated Notes due May 2026.

Belfius Bank, JP Morgan, Morgan Stanley, Société Générale and UBS acted as Joint bookrunners on the transaction. The Notes, which are listed on Euronext Brussels, are subject to statutory loss absorption and may be redeemed earlier, at the option of the issuer, upon the occurrence of a Capital Disqualification Event or a Tax Event.

FRANKFURT, May 18, 2016 – The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised Zarges Tubesca Group in relation to its refinancing. The new financing arrangements include a unitranche facility provided by Ares Management Limited and a super senior ranking revolving facility provided by Bremer Kreditbank Aktiengesellschaft. The unitranche facility is structured as bearer bond.

Cravath represented the European Investment Bank in connection with its US$3 billion registered debt offering. The European Investment Bank is a long-term financing institution of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on May 18, 2016.

The Cravath team included partner Philip J. Boeckman and associates Winnie Ling, Lawrence J. Verhelst and Magdalena Biereder.

International law firm Watson Farley & Williams (“WFW“) advised MPS

Capital Services Banca per le Imprese S.p.A. (”MPS”) on the approximately €21m refinancing and partial financing, on a project finance basis, of a Belenergia S.A.’s (“Belenergia”) pohotovoltaic portofolio located in the Apulia region of southern Italy.

Ashurst advised Ares Management Limited (Ares) and Bremer Kreditbank Aktiengesellschaft (BKB Bank) on the refinancing of the Zarges Tubesca Group (Zarges), a leading manufacturer of aluminium-based climbing gear and logistics products. The new refinancing arrangements include a unitranche facility provided by Ares, which is structured as a bearer bond, and a super senior revolving credit facility provided by BKB Bank. The parties have agreed not to disclose the financing volume.

Davis Polk advised the lead dealer managers in connection with cash tender offers by Rio Tinto Finance (USA) plc and Rio Tinto Finance (USA) Limited to purchase for cash certain of their respective U.S. dollar denominated debt securities.

Global law firm Norton Rose Fulbright has advised NATIXIS Pfandbriefbank AG on its five year €90 million mortgage loan to a London-based investment company managing a fund for Middle East investors. NATIXIS Pfandbriefbank AG acted as arranger and sole underwriter on the non-recourse financing which was structured to be eligible for both Pfandbrief refinancing and compliant with Shariah requirements.

On May 11, 2016, EFG International, a global private banking group offering private banking and asset management services, headquartered in Zurich, announced the results of its rights offering further to the ordinary share capital increase approved by the Annual General Meeting on April 29, 2016.

Global law firm White & Case LLP has advised a syndicate of banks led by Citi, Goldman Sachs and Société Générale on the initial public offering of Maisons du Monde on the regulated market of Euronext Paris.