Watson Farley & Williams (“WFW”) has advised ABN AMRO Bank NV (“ABN AMRO”) on a US$200 million one year bridge facility for DryShips Inc (“DryShips”), which was used to partially refinance a US$700 million bond issued by DryShips which matured on 1 December. The bridge facility is secured over shares held by DryShips in its subsidiary Ocean Rig UDW Inc. (“Ocean Rig”).
A Weil team led by New York partners Morgan Bale, Michael Aiello and Jennifer Bensch advised Morgan Stanley and Goldman Sachs as financial advisors and providers of a bridge financing to XL Group plc, an Ireland-based global insurance company, for its approximately $4.1 billion acquisition of Catlin Group Limited, a Bermuda-based specialty insurance and reinsurance company.
Clifford Chance and the Yegin Cifti Attorney Partnership — the firm’s Istanbul arm — have advised the joint lead managers on the third international Rule 144A/Reg S Sukuk issuance by the Republic of Turkey: USD 1 billion 4.489 per cent lease certificates due 2024.
The Republic Sukuk is listed on the Irish Stock Exchange. It uses an ijara structure, which relies on a statutory framework allowing for asset-leasing certificates to be issued by a special-purpose company called an "asset-leasing company."
Clifford Chance has advised Deutsche Bank AG as the sole bookrunner on Philippine renewable energy firm First Gen Corporation's PHP7.5 billion ($168 million) accelerated top-up placement to support expansion of its power projects.
Partner Raymond Tong said, "We were delighted to advise on this exciting Philippines transaction. We're seeing an increase in capital markets deals in the country, particularly to help fund infrastructure and energy projects."
White & Case LLP is advising the privately-owned investment and private banking institution Bank Degroof on its merger with the independent investment firm Petercam.
The merger of these two Brussels-based private financial institutions will result in Belgium’s first independent private bank, with €42 billion of assets under management and 1,400 employees. The transaction is expected to close by Q2 2015 and is likely to be one of the most high profile mergers of the year in the Belgian market.
Davis Polk advised Barclays Bank PLC, Citigroup Global Markets Inc., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, The Royal Bank of Scotland plc and Samsung Securities Co., Ltd. as underwriters in connection with concurrent SEC-registered Schedule B debt offerings by KEXIM of US$1 billion aggregate principal amount of its 2.25% notes due 2020 and US$1.25 billion aggregate principal amount of its 2.875% notes due 2025.
DNB Bank ASA (“DNB”), in its capacity as agent for a syndicate of banks, instructed Watson Farley & Williams’ (“WFW”) Athens office on a term loan facility of up to US$120 million arranged by DNB, NIBC Bank N.V. (“NIBC”) and Skandinaviska Enskilda Banken AB (“SEB”), provided to Star Bulk Carriers (“Star Bulk”). The purpose of this facility was to assist Star Bulk in financing the acquisition of 12 vessels from Excel Maritime Carriers Ltd (“Excel Maritime”).
Zuoli Kechuang Micro-finance Company Limited (“Zuoli Kechuang”, stock code: 06866) was successfully listed on the Main Board of the Stock Exchange of Hong Kong. A total of 300,000,000 shares priced HK$1.3 per share were offered, 30,000,000 to Hong Kong and the other 270,000,000 sold internationally. At the closing of the first trading day, the shares rose by 42%, to HK$1.85 per share.
Ashurst advised the finance parties on the successful US$129 million financing of the Shams Ma'an PV solar power generating project in Jordan. The financing documents were signed in Amman on 18 January 2015 at a ceremony attended by the Jordanian and Japanese prime ministers, underscoring the importance of the project to Jordan's economy.
Watson Farley & Williams (“WFW”) has advised BNP Paribas has provided a term loan facility of US$55 million to subsidiaries of Diana Shipping Inc., to finance the acquisition cost of two Capesize bulk carriers named “G.P. ZAFIRAKIS” and “P.S. PALIOS”.