GCA Savvian Corporation (GCA), a Tokyo Stock Exchange listed global investment bank entered into a definitive merger agreement with leading international M&A advisory Altium Corporate Finance Group (Altium). This combination creates a leading independent international investment bank, the 7th largest listed M&A advisory firm in the world.
Gide has advised the syndicate of banks on Vallourec’s capital increase, via the offering of preferential subscription rights to existing shareholders, for an amount of approximately €480 million. The banking syndicate was led by Banco Santander, BNP Paribas, Crédit Agricole Corporate & Investment Bank, Goldman Sachs International, J.P. Morgan, Natixis and Société Générale Corporate & Investment Banking as Global Coordinators, Lead Managers and Joint Bookrunners, and Nomura as Lead Manager and Joint Bookrunner.
Allen & Overy has successfully represented a group of financial institutions in a UK Supreme Court test case arising out of the collapse of the OW Bunker Group (OWB), which prior to its insolvency was the world’s largest supplier of marine fuel.
We advised Bluestone Asset Finance (Ireland) Ltd in relation to the raising of €25 million through a securitisation of some of its motor and commercial loans in Ireland. The securitisation comprises a portfolio made up of 2,075 loan agreements originated by Bluestone since late 2014 and secured on a mix of new and used motor vehicles and commercial asset finance equipment.
The offering price was set at SEK 55 per share, corresponding to a market value of Resurs Holding of SEK 11 billion.
Corral Petroleum Holdings AB (publ) (“Corral”), the parent company of Preem AB (publ) (“Preem”), has issued Senior PIK Toggle Notes consisting of SEK-notes with a principal amount of SEK 500 million and EUR-notes with a principal amount of EUR 570 million.
The notes fall due 2021 and were issued as a part of a larger refinancing also including Preem’s bank debt. Corral is the largest oil refining company in the Nordic region.
Darrois Villey Maillot Brochier has advised Financière Gaillon 8, a company that is ultimately controlled by funds managed by PAI Partners, on the sale of part of its Kaufman & Broad shares, for an amount of approximately 257 million euros (i.e. 39.08 % of Kaufman & Broad’s share capital), in a private placement to institutional investors by way of a bookbuilding. The amount of the placement may be increased to 282 million euros in case of full exercise of the over-allotment option.
The placement price has been set at 31,5 euros per share.
Baker & McKenzie recently advised The Export-Import Bank of China ("CEXIM Bank") on a USD1.55 billion loan facilities involving the development of a 2 x 660 MW power plant in Port Qasim, Karachi, Pakistan by PowerChina.
Baker & McKenzie Beijing partner Simon Leung led the team comprising banking and project specialists based in China, Singapore, Qatar and Dubai advising CEXIM Bank.
Simpson Thacher represented the initial purchasers, led by Deutsche Bank AG, London Branch, in connection with a Rule 144A and Regulation S offering by Corral Petroleum Holdings AB (publ), the parent company of Preem AB (publ), of (i) EUR 570 million aggregate principal amount of its 11.75% / 13.25% Senior PIK Toggle Notes due 2021 and (ii) SEK 500 million aggregate principal amount of its 12.25% / 13.75% Senior PIK Toggle Notes due 2021. The Notes were issued as a part of a larger refinancing including Preem’s bank debt.
Slaughter and May advised GCA Savvian Corporation (GCA), a global investment bank listed on the Tokyo Stock Exchange, on its merger with Altium Corporate Finance Group (Altium), an M&A advisory business, which was announced on 9 May 2016. The combination creates a leading independent international investment bank that will operate under the names GCA Altium in Europe and GCA in the United States and Asia.