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Finance & Banking

Slaughter and May advised INEOS Finance and INEOS US Finance - extension of euro and US dollar term loans

16 Jun 2015

Slaughter and May, working as part of an integrated team with Cravath, Swaine & Moore LLP, advised INEOS Finance plc and INEOS US Finance LLC on the extension of the maturity date from 2018 to 2020 of EUR 1,118,342,825.90 and US$1,145,739,606.52 term loans under their existing credit agreement.

CONTACTS

Financing: Caroline Phillips (partner), Rebecca Nind (associate), Emily Stratten (associate) and Martin Byers (associate).

Clifford Chance advising Citi on the sale of its consumer banking business in Egypt

16 Jun 2015

Clifford Chance is advising Citi on the sale of its consumer banking business in Egypt.

Citi entered into an agreement with Commercial International Bank (CIB) on 9 June 2015 and, subject to receiving regulatory approvals, the transaction is expected to close later in the year.

The transaction will entail the transfer of approximately 900 full time consumer banking and contract employees, eight Citi branches and the ATM network in Egypt to CIB.

WOLF THEISS ADVISES UNICREDIT BANK AUSTRIA ON THE ACQUISITION OF 45% OF THE SHARES IN UNICREDIT TIRIAC BANK, ROMANIA

15 Jun 2015

Wolf Theiss advised UniCredit Bank Austria AG ("UCBA") in acquiring a 45 per cent shareholding interest in UniCredit Tiriac Bank S.A. ("Tiriac Bank") from Tiriac Holdings Ltd. As a result, UCBA’s equity stake in Tiriac Bank increases from 50.6 per cent to 95.6 per cent. The closing of the transaction occurred on June 5. The selling price and other transaction details have not been publicly disclosed.

Thommessen acts in the IPO of Europris

15 Jun 2015

Thommessen assists the Managers of the IPO in connection with the announced IPO of the company.

Thommessen and Cleary Gottlieb Steen & Hamilton LLP assist the managers for the IPO, ABG Sundal Collier, Goldman Sachs, SEB and BofA Merrill Lynch in connection with the announced IPO.

Thommessen’s team is headed by partners Anders Arnkvaern and Kim Dobrowen.

The shares are expected to be admitted to trading on the Oslo Stock Exchange on or around 19 June 2015. The indicative price range for the shares is expected between NOK 43 and NOK 53.

Macfarlanes advises Krispy Kreme on debt refinancing

15 Jun 2015

Macfarlanes has advised Alcuin Capital on the refinancing of one of its portfolio companies, Krispy Kreme Doughnuts.

The team advised on refinancing existing senior and mezzanine debt with Santander.

The Macfarlanes team was led by finance partner Bronwen Jones who comments: "We are pleased to have assisted Alcuin and the Krispy Kreme team with this important refinancing of one of Alcuin's successful portfolio companies."

Clifford Chance advises Banco Santander, S.A. on innovative Peruvian toll road project financing

12 Jun 2015

A cross-office Clifford Chance team has advised Banco Santander, S.A., on the USD 200 million financing of the Longitudinal de la Sierra – Tramo 2 toll road project in Peru, which is to be developed by a consortium formed by SACYR Concesiones, S.L.U. in Spain, and Sacyr Concesiones Peru S.A.C. and Constructora Málaga Hnos S.A. in Peru.

King & Wood Mallesons advises SEB on the EUR 500,000,000 financing of Stadtwerke München

11 Jun 2015

King & Wood Mallesons advised SEB AG, which was acting as documentation agent, on the EUR 500,000,000 syndicated financing of Stadtwerke München GmbH (SWM) the Munich based public utility and service company. The financing arranged by HSBC Trinkaus & Burkhardt AG, UniCredit Bank AG and SEB AG has a five-year term and is being made available by a consortium of five banks.

Slaughter and May advised Santander UK - issue of £750 million Additional Tier 1 Capital Securities

11 Jun 2015

Slaughter and May advised Santander UK Group Holdings plc on its issue of £750 million Fixed Rate Reset Perpetual Additional Tier 1 Capital Securities. The Securities are the Santander UK group's first public issuance of Additional Tier 1 instruments and the first public issuance of securities by Santander UK Group Holdings plc, the newly established holding company of Santander UK.

Slaughter and May advised Santander UK - tender offers for capital securities

11 Jun 2015

Slaughter and May advised Santander UK Group Holdings plc and Santander UK plc on its launch of tender offers for four series of outstanding capital securities issued by Santander UK plc and Abbey National Capital Trust I.

The capital securities tendered for had an aggregate principal amount outstanding of approximately £630 million, of which approximately £320 million will remain outstanding following settlement of the tender offers. The tender offers were made on 28 May 2015 and the results of the tender offers were announced on 9 June 2015.

Clifford Chance advises a banking consortium on the refinancing of syndicated loan facilities for Tom Tailor Group

11 Jun 2015

Clifford Chance advised a banking consortium led by Commerzbank AG on the refinancing of syndicated loan facilities for Tom Tailor Holding AG.

The EUR 475 million syndicate loan is solely secured by guarantees. In addition to Commerzbank AG BNP Paribas S.A., Niederlassung Deutschland, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, and Landesbank Baden-Württemberg acted as Mandated Lead Arrangers and Bookrunners.