Jones Day assisted Banca IMI SpA, MPS Capital Services, and Unicredit S.p.A., as dealer managers, in the review of documents relating to the buy-back of government bonds called BTP Italia issued by the Republic of Italy, for €3.8 billion (US$4.3 billion).
Contact: Piergiorgio Leofreddi
On 31 October 2018, China’s central bank, the People’s Bank of China (“PBOC”) announced that it will hold a tender of RMB10 billion three-month Bills and RMB10 billion one-year Bills, on Wednesday, 7 November 2018 for settlement on Friday, 9 November 2018. The Bonds were issued through tendering platform, CMU BID, which forms part of the Hong Kong Monetary Authority (“HKMA”).
Davis Polk advised the underwriters and joint global coordinators in the initial public offering and listing on the Hong Kong Stock Exchange and the international offering in reliance on Rule 144A and Regulation S of Innovent Biologics, Inc. The net proceeds from the offering amounted to approximately HK$3.155 billion (US$403.1 million) prior to the exercise of the over-allotment option.
Allen & Overy and Borenius Attorneys LLP advised ING on the up to EUR 70.6 million project financing for the Lakiakangas wind farms located in Finland.
The Lakiakangas wind farms comprise of two operating Vestas V126 wind turbines with 3.45 megawatt nominal capacity each and further twelve Vestas V150 wind turbines under construction with 4.2 megawatt nominal capacity each. The financing was arranged by ING Bank, a branch of ING-DiBa AG, and ING Bank N.V. is acting as facility agent, security agent and hedging bank.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised the AIG group (‘AIG’) on the restructuring of its entire European operations to ensure AIG’s readiness for Brexit.
The transaction is one of the largest insurance business transfers ever undertaken and is the first time that a UK insurance business transfer scheme has incorporated an outbound EU cross-border merger. It is also the first of the major insurance-related Brexit restructurings and therefore sets an important precedent for the market.
As sole lead manager, IKB Deutsche Industriebank AG accompanied the successful placement of a EUR 20 million corporate bond of Deutsche Entertainment Aktiengesellschaft (DEAG). A team led by Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, legally advised the bank. Offering an annual coupon of 6%, the bond is listed on Frankfurt Stock Exchange’s Open Market. The bond was placed with a wide range of institutional investors primarily from Germany, but also from Luxemburg and Switzerland.
CMS in Kyiv is pleased to announce that it has advised the EBRD and private equity firms AB Invalda INVL and Horizon Capital (the "consortium") on their acquisition of a 41.09% stake in B.C. Moldova Agroindbank S.A, Moldova’s largest commercial bank, at an auction held by Moldova’s Public Property Agency.
The offering was part of the approximately US$60 billion of high yield offerings Latham handled during the first three quarters of 2018.
Milbank, Tweed, Hadley & McCloy LLP has advised Attica Bank SA (“Attica bank”), the major Greek non-systemic lender, in the sale of a junior note in the principal amount of €339,375,000, issued (together with a senior-tranched note) by a Luxembourg SPV in consideration for Attica bank’s securitised portfolio of non-performing loans (“NPLs”) of approximately €700 million.
International law firm Taylor Wessing has completed the 80% sale of Bitstamp to Brussels-based investment firm, NXMH.
Founded in the UK in 2011, Bitstamp is the world's longest standing cryptocurrency exchange and the EU's largest by volume, with more than three million registered customers.
Following the deal, Bitstamp customers can expect improvements in user experience, customer service, trading functions and other operations. The company will continue to provide a robust, safe and secure trading environment.