Castres & Snellman advised Municipality Finance in the issue and listing of a EUR 350 million Additional Tier 1 (AT1) instrument as to Finnish law. Municipality Finance is globally the first SSA issuer of a publicly listed AT1 instrument. In Finland the AT1 transaction itself is first of its kind. The AT1 instrument was listed on the Irish Stock Exchange in Dublin. The instrument is perpetual, and Municipality Finance has the first option to call the securities in 6.5 years after the issue date, in 2022. The coupon rate is 4.5 per cent.

GA&P Team: David González Gálvez (partner corporate), Fernando Igartua (partner corporate), David González (partner corporate), Javier Vinuesa (partner corporate) and Pio García-Escudero (Lawyer).

Acquirer: Santander Consumer Finance, S.A.

Country: Spain

Target: Societe Financiere de Banque (50% Stake)

Country: France

Value: Not Available

Schoenherr advised the underwriters Leerink Partners LLC, RBC Capital Markets LLC, Needham & Company and Wedbush PacGrow as to Austrian law on Vienna-based Nabriva Therapeutics AG's initial public offering in the United States and its listing on the NASDAQ Global Market. The transaction closed on 30 September 2015, with the IPO's underwriters having fully exercised their over-allotment option.

Allen & Overy has advised VTB Capital plc on the financing for Sacturino Limited’s cash offer (along with the existing majority shareholder) for shares in Polyus Gold International Limited, a publically listed company on the London Stock Exchange and Russia’s largest gold producer. This USD9bn deal is one of the most significant public-to-private bids in the Russian gold mining sector and contributes to the growing trend of companies that have been taken private in recent months.

Norton Rose Fulbright has advised Bank Zachodni WBK S.A., ING Bank Slaski S.A., Powszechna Kasa Oszczednosci Bank Polski S.A. and Societe Generale as global coordinators in relation to PLN 12.5bn (approximately EUR 3bn) facilities for the refinancing of Cyfrowy Polsat S.A. and Polkomtel Sp. z o.o.’s existing debt and the financing of working capital requirements.

Cyfrowy Polsat S.A. is a leading Polish pay digital satellite platform operator and Polkomtel Sp. o.o. is a leading Polish mobile operator.

Slaughter and May advised Legal & General Finance plc in relation to the update and revision of its US$2 billion Euro Commercial Paper Programme. The Notes issued pursuant to the programme are guaranteed by Legal & General Group plc. The arranger of the programme is Citibank International Limited and the dealers under the programme are Bank of America Merrill Lynch International Limited, Barclays Bank plc, Citibank International Limited, Goldman Sachs International, ING Bank N.V. and J.P. Morgan Securities plc.

CONTACTS

Allen & Overy LLP has advised Deutsche Bank AG on a revolving credit facility in the amount of USD 650 million for the Danish Bunker Holding A/S. Thus, the world leading company within bunker trading has increased its financing facilities by 50%.

The new financing facility covers a five-year period and includes additional options to increase the facility with up to 35%. The facility is established with an international group of 8 banks, led by Deutsche Bank AG as coordinator.

Clifford Chance advised ICBC Leasing, a subsidiary of China's largest bank, the Industrial and Commercial Bank of China, on a joint venture with shipping company Bernhard Schulte Group, Hamburg, Germany.

The company's particular focus lies on the production of special vessels. The object of the joint venture is the operation of offshore wind farm vessels in the North Sea. The German antitrust authorities (Bundeskartellamt) have already granted the required clearance for this joint venture.

Slaughter and May advised International Finance Facility for Immunisation Company (IFFIm) in relation to its second Sukuk, raising US$200 million for children’s immunisation in the world’s poorest countries through Gavi, the Vaccine Alliance. The transaction follows IFFIm’s inaugural Sukuk issued in December 2014.

Allen & Overy has advised The Hong Kong and Shanghai Banking Corporation Limited as one of the first batch of foreign commercial banks to issue panda bonds in the China interbank bond market.

The Allen & Overy team was led by International Capital Markets partner Yvonne Siew together with principal associate Jacqueline Chan in Hong Kong.