The Alternative Fixed-Income Market (MARF) has admitted to trading a €55 million bond issue launched by Sidecu, with a five-year maturity and a 6% annual coupon. We advised Sidecu’s underwriting entities on refinancing the company’s existing debt.
Arcano, the global coordinator and lead manager of the transaction has distributed bonds among Spanish and foreign qualified investors, while Banco Cooperativo has acted as co-lead manager.
Goh Kian Hwee, Lawrence Tan, Serene Yeo, Soh Chai Lih and Gwendolyn Tan from the Capital Markets / M&A Practice Group are acting for United Overseas Bank Limited (“UOB”), in its recommended voluntary conditional cash offer ("Offer") to acquire all the ordinary shares in the capital of Far Eastern Bank Limited (“FEB”) other than those already held by UOB (“Offer Shares”). The Offer was jointly announced by UOB and FEB as a recommended offer, i.e. the Offer is recommended at the outset by the independent financial adviser appointed by FEB.
Norton Rose Fulbright has advised KT Bank AG in relation to the establishment, licensing process and product development of the Eurozone’s first Islamic bank, based in Frankfurt. A full banking licence was granted by The Federal Financial Supervisory Authority (BaFin) and enables the bank, in compliance with the principles of Islamic Finance, to provide services such as accept deposits, grant loans and provide investment services.
KT Bank AG is a subsidiary of Kuveyt Türk Bank, a Turkish bank whose majority shareholder is Kuwait Finance House.
Linklaters has advised the consortium made up of Amethis Africa Finance and the National Bank of Canada on their equity stake purchase in NSIA Participations, the financial services group comprising banking and insurance products, that operates in more than ten West African countries. The transaction will be made through the acquisition of the 26% stake currently owned by Emerging Capital Partners and is subject to regulatory approvals.
Norton Rose Fulbright has advised The Bank of New York Mellon in its role as delegate trustee for Petroliam Nasional Berhad (PETRONAS)’s US$1.25 billion Sukuk offering.
The issue was the Malaysian state-owned energy group’s first after a hiatus of almost six years, and also represents part of Asia’s second largest corporate dollar bond.
Linklaters LLP has advised Investec Bank plc, Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. and EKF (the Danish Export Credit Agency) on the limited recourse financing of a waste-wood fired biomass power plant, located at the Port of Tilbury, Essex.
The sponsors are Aalborg Energie Technik a/s, ESBII UK Limited and UK Green Investment Bank plc. The agreement marks ESB’s first investment in the UK’s waste and biomass sector.
Clifford Chance advised Volkswagen International Finance N.V. and Volkswagen AG in connection with the issuance of EUR 2.5 billion in hybrid bonds consisting of two tranches, a tranche with an aggregate principal amount of EUR 1.1 billion with a first call date in March 2022 and a tranche with an aggregate principal amount of EUR 1.4 billion with a first call date in March 2030.
The joint lead banks advising Volkswagen were BNP Paribas, Commerzbank Aktiengesellschaft, J.P. Morgan and Bank of America Merrill Lynch.
Hogan Lovells has advised Optimal Payments Plc on the €1.1 billion acquisition of Sentinel Topco Limited and its subsidiaries (Skrill Group) from Sentinel Group Holdings S.A, which is ultimately majority owned by funds managed and advised by CVC Capital Partners SICAV-FIS S.A. and Investcorp Technology Partners. The transformational transaction, announced today, will in part be funded by a fully underwritten rights issue raising gross proceeds of approximately £451 million and new debt facilities of €500 million.
Slaughter and May advised NewDay Cards Ltd (NewDay Cards) and its affiliates in relation to a public debt issue under its credit card, store card and instalment credit securitisation.
The transaction involved the issuance, through a master trust structure, of £244.25 million of Series 2015-1 Floating Rate Asset Backed Notes (the Series 2015-1 Notes) by NewDay Partnership Funding 2015-1 Plc.
Ashurst advises Commerzbank Aktiengesellschaft and IKB Deutsche Industriebank AG on the financing of the acquisition of COMPO GmbH's ("COMPO") EXPERT division by global alternative investments firm XIO Group. COMPO EXPERT is located in Münster (Westphalia) and markets specialty fertiliser products for professional applications. The division was sold by European private equity investor Triton whose fund Triton III acquired COMPO in 2011 from resources company K+S. The parties have agreed not to disclose the purchase price and the financing volume.