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Finance & Banking

Mayer Brown advises banks on EUR 5 billion debt issuance program for Eurogrid GmbH

16 Jul 2015

Mayer Brown advised Commerzbank AG as arranger and other banks on the establishment of a new debt issuance program for the issuance of senior unsecured notes with a volume of up to EUR 5 billion Euro as well as on the first successful placement of notes issued by Eurogrid GmbH under the issuance program in the amount of EUR 500 million.

The notes have a term of ten years and bear interest of 1.875 per cent per annum. The notes were admitted to trading on the regulated market of the Luxembourg Stock Exchange.

Dechert Advises International Creditors’ Committee of JSC Astana Finance on US$1.9 Billion Restructuring of Financial Indebtedness

16 Jul 2015

A combined team from Dechert LLP’s London and Almaty offices advised the International Creditors’ Committee of JSC Astana Finance, a Kazakh financial services group, in connection with the restructuring of US$1.9 billion of its financial indebtedness. Astana Finance, was the third Kazakh financial institution to default on its international bond obligations, in May 2009, following the global financial crisis.

Baker & McKenzie Advises on the Global Offering of Chen Xing Development Holdings Limited

16 Jul 2015

Baker & McKenzie recently acted as legal advisor (covering both Hong Kong and US law) to ICBC International Capital Limited ("ICBCI") as the sole sponsor, sole global coordinator and sole bookrunner, as well as the Underwriters on the approximately HK$300 million global offering of Chen Xing Development Holdings Limited, one of the leading property developers in Shanxi Province ("Chen Xing").  The shares of Chen Xing commenced trading on The Stock Exchange of Hong Kong Limited on 3 July 2015.  The net proceeds from the global offering will be mainly used to finance the develop

Wolf Theiss Sofia Advised Arco Capital Corporation Ltd. On The Financing Of Business Park Sofia, Is The Premier Office Park In Southeastern Europe

13 Jul 2015

UniCredit Bank Austria AG and UniCredit Bulbank AD have jointly participated in the refinancing of the largest office park in Southeastern Europe - Business Park Sofia (BPS) by underwriting a € 103.3 million senior facility. The facility and security agent, account bank, and hedge provider of the transaction is UniCredit Bulbank AD.

Schoenherr advises Österreichische Volksbanken AG on the establishment of a run-down entity and the restructuring of the Volksbanken sector

13 Jul 2015

Schoenherr advised Österreichische Volksbanken-Aktiengesellschaft (ÖVAG) in the restructuring of the Volksbanken sector (“Verbund”) and the continuation of ÖVAG as a run-down entity based on the new run-down regime under Austria’s newly implemented Federal Act on the Recovery and Resolution of Banks (BaSAG).

Schoenherr advises VB-Leasing International on sale of Slovak leasing business to CSOB Leasing

13 Jul 2015

Schoenherr advised VB-Leasing International (VBLI), the joint venture between Österreichische Volksbanken-AG (ÖVAG) and Germany's VR-Leasing AG, on the sale of VB Leasing Slovakia to CSOB Leasing, a. s., a subsidiary of Belgium's KBC Group, and on the replacement of 100% of the shareholder funding at par (including accrued interest) by the KBC Group. The relevant agreement was executed on 1 July 2015. With the sale, ÖVAG and VR-Leasing have achieved another milestone in their strategic re-alignment to focus on their core business.

WFW helps restructure €23.8 million financing for 16 MW wind farm in Apulia

10 Jul 2015

Watson Farley & Williams (“WFW”), has advised Banca Nazionale del Lavoro S.p.A. (“BNL S.p.A.”) on the review of the original €23.8 million project finance facility agreement and the related financial documentation for Difesa Wind S.r.l.. The facility financed the construction, development, management and maintenance of a 16 MW wind farm in the Apulia Region of Southern Italy.

Most notably, WFW advised on the alteration of the contractual arrangements from a non-recourse project finance to a corporate recourse-style transaction.

Renaissance PME and SVC-Ltd. for Risk Capital for SMEs acquire Bandi S.A.

10 Jul 2015

A group of investors composed, among others, by Renaissance PME (a vehicle investing in Swiss SMEs and managed by Vinci Capital SA) and SVC – Ltd. for Risk Capital for SMEs (a subsidiary of Credit Suisse), announced that they have signed an agreement to acquire Bandi S.A. in a club deal. With more than 50 employees, Bandi S.A. is active mainly in the production of components for luxury watchmakers.