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Finance & Banking

WFW advises syndicate of lenders on US$963.7million Korean ECA-backed financing to Gener8 Maritime group for 15 vessels

16 Oct 2015

Watson Farley & Williams (“WFW”) has acted as lead counsel advising a syndicate of lenders globally co-ordinated by Citibank N.A. and Nordea Bank Finland plc, New York Branch, on a term loan facility of up to US$963,743,455 to Gener8 Maritime, Inc.

The facility finances the group’s acquisition of 15 newbuildings, most of which are to be built in Korean shipyards. The newbuildings will be delivered between 2015 and 2017.

Shearman & Sterling Advises on IMAX China’s Hong Kong IPO

15 Oct 2015

Shearman & Sterling advised Morgan Stanley Asia Limited as the sole sponsor and one of the joint bookrunners, along with Goldman Sachs (Asia) L.L.C. and China International Capital Corporation Hong Kong Securities Limited, on the primary listing on the Main Board of The Stock Exchange of Hong Kong Limited of IMAX China holding, Inc. (“IMAX China”), a subsidiary of IMAX Corporation (“IMAX”). The size of the global offering is approximately HK$1.92 billion (US$248 million) (or HK$2.21 billion if the over-allotment option is fully exercised).

White & Case Advises Deutsche Asset & Wealth Management on Acquisition of Senior Loan Granted to Metro AG

14 Oct 2015

White & Case LLP has advised Deutsche Asset & Wealth Management (DeAWM) on the acquisition of a €30 million senior loan tranche, part of the syndication of the €450 million financing provided for the Metro Cash & Carry commercial real estate portfolio in April 2015.

"The increasing activity and presence of alternative capital providers such as credit funds in the German market shows the growing acceptance of, and need for, these alternative capital providers," said Frankfurt-based White & Case local partner Michael Rützel.

Wragge Lawrence Graham & Co's Investment Funds team acts on £183 million secondary issue

13 Oct 2015

Wragge Lawrence Graham & Co's (WLG) Investment Funds team has advised Jefferies International Limited (Jefferies) on the secondary issue of C Shares by VPC Specialty Lending Investments PLC (VPC Specialty Lending) which raised £183 million.

The secondary issue was by way of an institutional placing, offer for subscription and intermediaries offer. The C Shares were admitted to the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities.

Ashurst advises ANZ on A$8.23bn sale of Esanda

13 Oct 2015

Ashurt has advised Australia and New Zealand Banking group Limited (ANZ) on the sale of its Esanda dealer finance portfolio, for a purchase price of approximately A$8.23 billion.

The transaction, signed and announced to ASX on 8 October 2015, was via a trade sale with expected completion staggered over six months.
The Esanda business comprises approx 330,000 retail customers and 450 dealer originators and 160 dealers with bailment and lending facilities with ANZ.

King & Wood Mallesons advises TVM Capital on the first closing of its China BioPharma Fund

13 Oct 2015

King & Wood Mallesons (KWM), advised TVM Capital Life Science (TVM Capital), on the first closing of its China BioPharma Capital Fund (China BioPharma), raising more than $50 million in commitments.

TVM Capital Life Science is a group of independent investment advisors and fund managers for Venture Capital funds investing in innovative biotech, pharmaceutical, and medtech companies in Europe, Canada the USA and Asia. The teams are based in Munich, Montréal and Asia.

Clifford Chance advises British Business Bank and BIS on establishing ENABLE Funding programme and initial £100 million facility for Hitachi Capital

12 Oct 2015

Clifford Chance has advised the British Business Bank and the Department for Business, Innovation and Skills (BIS) in connection with the establishment of the British Business Bank's innovative ENABLE Funding programme and its first transaction - a £100 million facility to Hitachi Capital (UK) plc.