Major Dutch insurer Delta Lloyd has again transferred a part of its longevity exposure to a reinsurer. On 25 June 2015, Delta Lloyd signed an agreement with Reinsurance Group of America (RGA) to mitigate longevity risk related to its Dutch life insurance portfolio.
GÖRG filed an action today with the Frankfurt/Main Regional Court on behalf of a creditor pool consisting of 11 well-known investors from Germany and Austria. The action is brought against HETA ASSET RESOLUTION AG (HETA), Klagenfurt (Austria), and seeks to compel the repayment of claims totalling almost EUR 1 billion. The spokesperson for the pool is Dexia Kommunalbank Deutschland AG, which itself holds claims amounting to EUR 395 million, making it the largest single creditor in the pool.
Stibbe advised Kempen & Co, Degroof Corporate Finance, Bank Degroof and ING (together the joint global coordinators and joint bookrunners) in the private offering by NSI N.V. of 35% of its shares in Intervest Offices & Warehouses NV to a broad group of institutional and qualified investors.
Norton Rose Fulbright has advised China Merchants Securities (HK) Co., Ltd as the sole placing agent in the top-up placing of 968,000,000 shares in China Chengtong Development Group Limited (China Chengtong), a company listed on the main board of the Hong Kong Stock Exchange.
China Chengtong is primarily engaged in property development, property investment, financial leasing, hotel and marine travelling services, bulk commodity trade and trading and processing of coal.
Allen & Overy LLP has advised COMMERZBANK Aktiengesellschaft and Kempen & Co N.V. as Joint Bookrunners in connection with the capital increase of LEG Immobilien AG raising gross proceeds of EUR 73.6 million.
The 1,196,344 new registered shares with dividend entitlement as from the financial year 2015 were placed with international institutional investors at a price of EUR 61.54 per share. The new shares are not entitled to the proposed dividend payment of EUR 1.96 per share for the financial year 2014. The transaction closed on 29 June 2015.
Simpson Thacher represented New Look Secured Issuer plc in connection with its offering of £700 million aggregate principal amount of 6.5% Senior Secured Notes due 2022 and €415 million aggregate principal amount of Floating Rate Senior Secured Notes due 2022 and New Look Senior Issuer plc in connection with its offering of £200 million aggregate principal amount of 8% Senior Notes due 2023.
Linklaters advises on the first Basel 3-compliant additional tier 1 capital issuance in the Kingdom of Saudi Arabia and on the first Basel 3-compliant additional tier 1 capital sukuk issuance in the State of Qatar
Roschier represented the largest lender, European Investment Bank, in the 20 year PPP road financing of the final phase (Hamina-Vaalimaa) of the E18 motorway, crossing the country from Turku to the eastern border and constituting the core of the Scandinavian-Mediterranean Network Corridor. The new road section to be built from Hamina to Vaalimaa comprises 32 kilometers and includes the building of a waiting area for heavy vehicles at Vaalimaa. Designed as a green motorway, the project will help reduce traffic congestion and increase safety in the area.
Zürcher Kantonalbank, Credit Suisse and BNP Paribas acted as managers. The bonds will be listed on the SIX Swiss Exchange.
Homburger acted as counsel to Zürcher Kantonalbank. The Homburger team consisted of René Bösch (Partner, Financial Services), Dieter Grünblatt (Partner, Tax) and Eduard De Zordi (Counsel, Financial Services).
King and Wood Mallesons advises AA plc ("AA") on its strategic relationship with the Bank of Ireland UK (”BOI UK”) to provide a range of retail financial services to UK consumers.