Together with Clifford Chance Frankfurt (lead) and Advokatfirman Vinge, Walder Wyss has advised HSH Nordbank AG on the SME securitisation of trade receivables acquired in Germany, Sweden and Switzerland by ABS Global Factoring AG from local originators via Smart Fact S.A., a securitisation company in Luxembourg.
Clifford Chance advised Ferratum Oyj in connection with its successful €110.8 million initial public offering and listing of its shares on the Prime Standard of the Frankfurt Stock Exchange.
The Finnish Ferratum Group, a pioneer for mobile micro credits in Europe, offers short-term consumer loans. Ferratum’s customers can utilize digital media to apply for consumer credit in amounts varying between EUR 25 and EUR 2,000. Ferratum is operating in 20 countries worldwide and is among the first European FinTech companies which completed an IPO in Europe.
Watson Farley & Williams LLP (“WFW”) has advised Commonwealth Bank of Australia (“CBA”), one of the ‘big four’ Australian banks on the provision of a term loan facility for the purpose of financing of the acquisition of the dry bulk carrier vessel m.v. KOMI.
AKB Souyz (OAO) has announced a successful completion of the securitization of a part of the Bank’s mortgage portfolio. The transaction has been supported by Egorov Puginsky Afanasiev & Partners Banking & Finance, Capital Markets practice team.
The transaction provided for offering by an SPV (mortgage agent) of two tranches of bonds with different priorities and secured by a pledge over a single mortgage pool.
Dubai—Dentons has advised a consortium of banks led by Islamic bank Al Hilal Bank, based in Abu Dhabi, on a US$200 million Shariah-compliant syndicated facility. The financing was made available to Islamic bank Ajman Bank, to support its banking activities.
The dual tranche facility comprised Murabaha and Wakala structures for which the participants were regional Islamic banks, Al Hilal Bank, Emirates Islamic Bank, Sharjah Islamic Bank and Qatar Islamic Bank.
Mayer Brown advised SME-investor Halder on the financing of its acquisition of PRAE-TURBO through a management buy-out. PRAE-TURBO, located in Schwanewede/Germany, focuses on machining compressor wheels for automotive turbochargers. Customers include leading turbo system providers from Europe and the NAFTA-region. In 2014, the company had a revenue of EUR 53.9 million.
Halder has been active in Germany since 1991 and has provided 38 SMEs with capital for ownership succession and growth.
Slaughter and May, working as a team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, is advising Non-Standard Finance plc (NSF) in connection with its proposed initial public offering. NSF has been established to acquire and operate one or more non-standard consumer financial services businesses and intends to raise approximately £100 million from a placing of its shares with institutional and professional investors. The IPO was announced on 5 February 2015, with closing of the order book, publication of the prospectus and allocations expected the following week.
Deacons recently acted for the sole sponsor Halcyon Capital Limited and the underwriters in relation to the listing of Odella Leather Holdings. The listing will take place on the Growth Enterprise Market of the Hong Kong Stock Exchange by way of placing and is expected to raise up to HK$60 million.
Odella Leather specialises in the manufacture and sale of private-label leather garments for fashion brands on an original equipment manufacturers basis.
Dentons has advised First Data Corporation ("First Data"), a global leader in payment technology and service solutions, in successfully obtaining approval for its Binding Corporate Rules ("BCRs") for Data Processors regarding data privacy from European Data Protection regulators. This ground breaking achievement is the first of its kind in the UK, with First Data becoming the first payments technology company to obtain such authorisation under the leadership of the UK's Information Commissioner's Office ("ICO"), which led the application.
Clifford Chance has advised HSH Nordbank AG on the SME securitisation of trade receivables acquired in Germany, Sweden and Switzerland by ABS Global Factoring AG from local originators via Smart Fact S.A., a securitisation company in Luxembourg.
In the context of this transaction, German and Swiss trade receivables were transferred via a German factoring company to Smart Fact S.A. Swedish trade receivables were transferred via a Swedish factoring company to Smart Fact S.A.