NautaDutilh advised SNS Bank with its first Tier 2 debt issue since the nationalisation in February 2013. On 29 October 2015, SNS Bank successfully placed EUR 500 million subordinated (Tier 2) notes with a wide range of institutional investors.
The transaction marks the strong return of SNS Bank to the capital markets and contributes to the strengthening and diversification of SNS Bank’s capital base.
Herbert Smith Freehills has advised Citi on the launch of the first warrants on Chi-X Australia.
The initial warrant issue is of MINI warrants which enable investors to buy short or long positions in Commonwealth Bank of Australia and BHP Billiton. Further warrant issues are expected to be launched soon.
DLA Piper has advised Helaba Landesbank Hessen-Thüringen on financing for the purchase of an inner-city site of Deutsche Bank in Frankfurt. Helaba has funded the purchase of the 16,000-m² site with a loan from the property development company Gross & Partner.
HONG KONG: Allen & Overy has advised ANZ, BNP Paribas, Citigroup, HSBC, J.P. Morgan and Standard Chartered Bank as joint lead managers on IDBI Bank Limited’s inaugural USD350 million Regulation S green bond issue, the second Indian bank to issue green bonds internationally. The Hong Kong based A&O team had earlier advised the joint lead managers on Export-Import Bank of India’s issue of green bonds, which was the first international issue of green bonds from India.
Ashurst has advised senior warehouse financiers and mezzanine warehouse financiers on the A$6 billion-plus warehouse securitisation of GE assets, acquired by a consortium (Consortium).
The securitisation was complex and innovative with the securitised assets spanning more than three million customers in Australia and New Zealand in areas including secured and unsecured personal loans, auto loans, credit cards and sales finance provided. A separate securitisation trust was created to hold receivables in a particular asset class and depending on location.
Norton Rose Fulbright has advised Australian Executor Trustees in relation to its role as trustee for an offer of capital notes by Macquarie Group Limited (MCN2). This latest hybrid offer by Macquarie is expected to raise around A$400 million.
The transaction highlights Australian Executor Trustees’ leading position in the Australian market as a provider of note trustee services for regulated issues, as well as Norton Rose Fulbright’s position as one of the premier debt capital markets (DCM) practices in Australia.
Slaughter and May, London and Hong Kong, is advising Standard Chartered plc on its fully underwritten 2 for 7 rights issue to raise approximately £3.3bn (net of expenses).
The shares will be admitted to listing on the Official List of the UK Listing Authority and to trading on the regulated market of the London Stock Exchange and listing on The Stock Exchange of Hong Kong Limited.
Herbert Smith Freehills has advised the Joint Lead Managers of Macquarie Group Limited’s (MGL) offer of new hybrid securities known as Macquarie Group Capital Notes 2 (MCN2), which are fully paid, unsecured, subordinated, non-cumulative, perpetual and convertible notes issued by MGL (Offer).
The Offer was originally intended to raise A$400 million (with the ability to raise more or less) but has been increased to at least A$500 million following strong support from brokers and institutional investors.
MCN2 are offered at an issue price of A$100.
Herbert Smith Freehills is advising UBS and Deutsche Bank as joint lead managers and underwriters on the initial public offering and listing on the Australian Securities Exchange (ASX) of Wellard Limited (Wellard).