Eiffarie and the motorway concession holder APRR (Autoroutes Paris-Rhin-Rhône), which both are owned by Eiffage and Macquarie managed funds, have completed on 23 February 2015 the second refinancing, for an amount of €1.5 billion, of the debt initially incurred by Eiffarie for the acquisition of APRR and the implementation of a new revolving credit facility (RCF) for APRR in an amount of €1.8 billion. This new credit facility, replacing the €0.7 billion existing undrawn revolving facility, increases APRR's liquidity by €1.1 billion.

Davis Polk advised J.P. Morgan Securities LLC as dealer manager in connection with a cash tender offer by Delhaize Group for up to $450 million aggregate principal amount of its outstanding 6.5% senior notes due 2017 and 4.125% senior notes due 2019.  

Charles Russell Speechlys’ Advisory team recently acted as the legal adviser to Chelverton Growth Trust plc (the Company) on its latest tender offer, which was announced to shareholders on 11 February 2015.

The tender offer is the latest in a series of tender offers by the Company to achieve its core realisation strategy of returning capital to shareholders.

The Charles Russell Speechlys team advising on this transaction was led by Partner Andrew Collins and included Financial Services Associate James Griffiths.

Wragge Lawrence Graham & Co's Corporate team has advised longstanding client and AIM-quoted Ambrian plc on its merger with Consolidated General Minerals plc (CGM).

The principal asset of CGM, which de-listed from AIM three/four years ago, is a clinker grinding and cement packing operation in the port of Beira, Mozambique. With an installed capacity of approximately 800,000 tons per annum, the US$42 million cement plant is expected to commence production in April 2015.

Nabarro is advising Oriel Securities Limited, a Stifel Company, as sponsor and sole bookrunner on the IPO on the main market by Sequoia Economic Infrastructure Income Fund Limited which has raised £150 million (before expenses) through an oversubscribed placing and offer for subscription.

Norton Rose Fulbright has acted for the financiers – Banco Santander, Commonwealth Bank of Australia, Credit Agricole CIB Australia, The Bank of Nova Scotia Asia and United Overseas Bank – on the successful ALTRAC Light Rail Consortium bid for the Sydney Light Rail PPP project. The contract for this project reached financial close on 25 February 2015.

ALTRAC Light Rail, which comprised Alstom Transport Australia, Transdev, Acciona and Capella Capital, will deliver and operate the new CBD and South East light rail in Sydney.

ShunSin Technology Holdings Limited (stock code: 6451) has successfully listed on the Taiwan Stock Exchange. A team led by Shanghai-based senior partner Huang Xiamin served as PRC law counsel for Grand Fortune Securities Co., Ltd., sponsor for the IPO and listing of ShunSin Technology Holdings Limited. The team worked closely with other intermediaries to guarantee the successful launch on the Exchange.

Milbank, Tweed, Hadley & McCloy LLP represented the initial purchasers, joint bookrunners and dealer managers, Goldman Sachs and Citibank on the refinancing of Norske Skog AS’s existing notes due 2015, 2016, 2017 and 2033 through the issuance of EUR 290 million senior secured notes due 2019 and the exchange of existing notes into new notes maturing in 2021 and 2023.  A consent solution to amend the existing bonds was also completed.

UBS Group AG, the new top holding company of UBS group, has completed the inaugural issuance of USD 1.25 billion 7.125% Additional Tier 1 write-down notes, USD 1.25 billion 7.00% Additional Tier 1 write-down notes and EUR 1.00 billion 5.75% Additional Tier 1 write-down notes. The three notes combine different features including different currencies and interest rates as well as high and low CET1 ratio triggers.

Gide advised Ecomobility Ventures, a European Investment fund dedicated to innovation in sustainable mobility, on the investment of Air Liquide (via its subsidiary Aliad) and Michelin in its capital. Air Liquide and Michelin join SNCF, Total and Orange in the capital of Ecomobility Ventures, set up in 2011 and which contributes to the development of sustainable mobility by supporting innovation between start-ups and larger groups.

The team offering legal counsel to Ecomobility Ventures comprised partner Anne Tolila and associate Arnaud de Keulenaer.