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Finance & Banking

Alliance Automotive Finance plc Completes €70 Million Senior Secured Notes Offering

12 Feb 2016

Simpson Thacher represented certain Blackstone investment funds and Alliance Automotive Finance plc, an affiliate of Alliance Automotive Group S.A.S. (“AAG”), in connection with a Rule 144A and Regulation S offering of €70 million in aggregate principal amount of its Senior Secured Notes due 2021. The transaction closed on February 9, 2016. AAG will use the net proceeds from this offering for general corporate purposes, including to finance potential acquisitions.

Dentons advises Mashreqbank psc on a dual conventional and Islamic financing facility of up to US$275 Million to Royal Jordanian Airlines

12 Feb 2016

Dubai—Dentons has advised Mashreqbank psc on a dual conventional and Islamic financing facility to Royal Jordanian Airlines, the national airline of Jordan. The syndicate was made up of eight banks based in UAE, Qatar, Jordan and France with Mashreqbank psc acting as sole Bookrunner and also as Mandated Lead Arranger, along with Al Khalij Commercial Bank (Al Khalij) Q.S.C, Arab Bank plc, Dubai Islamic Bank PJSC, and The Commercial Bank (Q.S.C.).

Charles Russell Speechlys advises Chelverton Growth Trust on its Court approved reduction of capital and its latest tender offer

10 Feb 2016

Charles Russell Speechlys’ Advisory team recently acted as the legal adviser to Chelverton Growth Trust plc (the Company) on its Court approved reduction of capital and its latest tender offer, which was announced on 3 February 2016.

The tender offer is the latest in a series of tender offers by the Company to achieve its strategy of returning capital to shareholders.

The Charles Russell Speechlys team advising on this transaction was led by Partner Andrew Collins and included Corporate Associate Emily Davies.

KWM advises NAB on demerger of CYBG PLC and its listing on ASX

10 Feb 2016

KWM has been lead legal adviser to NAB on its demerger and cross-border IPO of CYBG PLC, which was successfully completed last night.

The successful conclusion of the demerger and IPO of CYBG is a significant milestone for NAB that will enable it to pursue its focused strategy in its core markets in Australia and New Zealand.

CYBG PLC is listed on both the Australian Securities Exchange and London Stock Exchange and has a market capitalisation of approximately AU$3.2billion.

White & Case Advises Deutsche Bank on FMS Wertmanagement's Tender Offer For Depfa Bonds

10 Feb 2016

White & Case LLP has advised Deutsche Bank, as dealer manager, on FMS Wertmanagement's tender offer for DEPFA bonds.

The cash tender comprised parallel European and US offers for bonds denominated in euro, Swiss francs, US dollars and Canadian dollars with maturities ranging from 2017 to 2037. The bonds were issued by DEPFA ACS Bank and DEPFA Pfandbriefbank International S.A., both subsidiaries of FMS Wertmanagement. Both issuers were previously owned by Hypo Real Estate Group.

Goldman Sachs, Wellcome Trust, and Greystar launch £2 billion (US$2.8 billion) student housing company

09 Feb 2016

Jones Day advised the REPIA division of Goldman Sachs International in connection with the formation of the £2 billion (US$2.8 billion) student housing business to be known as the Vero Group. The joint venture involved the combination of the £560 million (US$799 million) iQ student housing portfolio owned by The Wellcome Trust with the existing student housing platform owned by Goldman Sachs and Greystar Real Estate Partners.

For additional information about this matter, please contact: Giles P. Elliott, David Smith

We have assisted in the financing of Lundin Petroleum

09 Feb 2016

We have provided Norwegian law assistance to a group of 23 international banks on Lundin Petroleum's ("Lundin") seven year reserve-based lending facility for up to USD 5 billion.

This is believed to be the largest ever European reserve-based loan (RBL) for an upstream oil and gas company. The facility has an initial committed amount of USD 4.3 billion and includes an accordion feature that allows existing and new lenders to provide additional commitments of up to USD 700 million.

Hengeler Mueller advises Oddo&Cie on regulatory aspects of indirect acquisition of BHF-Bank

08 Feb 2016

Through its take-over of BHF Kleinwort Benson Group S.A. Oddo & Cie, Paris, (“Oddo”) is indirectly acquiring BHF-Bank, a leading German private bank with international branches in Luxembourg, Switzerland, the UAE, Egypt and Vietnam.

Oddo is an independent Franco-German financial services group active in investment banking and capital management. 60 per percent of Oddo Group’s capital are held by the Oddo family and over 30 percent by Oddo employees.

Mayer Brown advises banking consortium on the issuance of EUR 650.7 million notes

08 Feb 2016

Mayer Brown announced today that it represented joint lead managers and joint lead arrangers Crédit Agricole Corporate and Investment Bank, BNP Paribas London Branch, Bank of America Merrill Lynch and The Royal Bank of Scotland plc on the issuance of EUR 650.7 million asset-backed notes. The notes are backed by German auto loans sold by the German branch of FCE Bank plc, an indirect wholly owned subsidiary of Ford Motor Company.

Mayer Brown’s cross-border team advised on German and English law aspects of the ABS transaction.