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Finance & Banking

Advising Rothschild, Deutsche Bank, Panmure Gordon and HSBC on a £200m Rights Issue

01 Dec 2014

Simmons & Simmons is advising Rothschild as sponsor, Deutsche Bank, Panmure Gordon as joint bookrunners, and HSBC as co-lead manager on a £200m rights issue in RPC Group Plc (the international rigid plastic packaging supplier to the food and non-food, consumer and industrial markets) as part of the funding for its proposed €386m euros (£307m) acquisition of Promens Group AS, a leading European manufacturer of rigid plastic packaging products and rigid plastic components, with a growing platform in emerging markets.

Ashurst advises Deutsche Bank on accelerated placing of shares

01 Dec 2014

Ashurst advised Deutsche Bank in relation to an accelerated bookbuilding offer of 6,180,000 million shares of Amadeus IT Holding, S.A., the Spanish travel software group. The shares represent 1.4 per cent of Amadeus' capital.

The Ashurst finance team was led by Madrid-based partner Juan Hormaechea and London-based partner Jonathan Haines. They were assisted by senior associate James Knight and solicitor Matt Fassnidge.

UK Green Investment Bank - acquisition of 20% interest in Sheringham Shoal offshore windfarm

01 Dec 2014

Slaughter and May advised UK Green Investment Bank on its acquisition of a 20% interest in Scira Offshore Energy Limited, which owns Sheringham Shoal offshore windfarm, for an agreed valuation of £240 million. UK Green Investment Bank acquired its interest from Statoil Petroleum AS and Statkraft UK Limited who have each retained a 40% interest in Scira Offshore Energy Limited.

Sheringham Shoal is a 316.8MW offshore windfarm located off the coast of Norfolk which generates over 1.1TWh of net renewable electricity annually and has been operational since October 2012.

Clifford Chance advises the underwriters in connection with the EUR 1 billion capital increase of Telekom Austria AG

01 Dec 2014

Clifford Chance has advised the underwriters in connection with the EUR 1 billion capital increase of Telekom Austria AG.

Today, Telekom Austria AG completed its EUR 1 billion capital increase including a rights offering to existing shareholders and a sale to the market of any shares not subscribed by its shareholders.

Clifford Chance advises Legal & General on record £2.5 billion buyout with the TRW Pension Scheme

01 Dec 2014

Clifford Chance has advised Legal & General’s Retirement, (LGR) business on a £2.5 billion partial buyout with automotive supplier TRW Pension Scheme, (“the Scheme”). The transaction, the UK’s largest pension buyout, will remove these liabilities from TRW Automotive’s balance sheet and insure over 22,000 of the Scheme’s pensioners.

Addleshaw Goddard advises Zeus Capital on £125m IPO of Quantum Pharma

01 Dec 2014

Addleshaw Goddard's Manchester corporate team has advised Zeus Capital on the £125m IPO of Quantum Pharma on AIM. The pharmaceutical business plans to have a market capitalisation of £125m upon admission to AIM which is expected to take place on 11 December 2014.

Zeus were advised by corporate finance partner Roger Hart and legal directors Duncan Wilson and Shelley McGivern.

Roger Hart commented: "The IPO market has been more subdued than earlier in the year, but this transaction shows that a good business can come to market."

Ashurst advises on Clarkson PLC's £281m reverse takeover of RS Platou ASA and related £31m cash box placing

28 Nov 2014

Ashurst advised Nomura International plc ("Nomura") and Panmure Gordon (UK) Limited ("Panmure Gordon") on the £281 million reverse takeover by Clarkson PLC ("Clarkson") of RS Platou ASA and Clarkson's related cash box placing. Nomura acted as Clarkson's sponsor and financial adviser in relation to the reverse takeover. Panmure Gordon acted as Clarkson's sole bookrunner in connection with a cash box placing of up to 8.5 per cent. of Clarkson's issued share capital, raising gross proceeds of approximately £31 million.

Herbert Smith Freehills advises underwriters on Hong Kong Aviation Limited RMB800 million dim sum bond offering

28 Nov 2014

Herbert Smith Freehills has advised underwriters on the RMB800 million dim sum bond offering by Hong Kong Aviation Limited, a wholly-owned subsidiary of Hong Kong Airlines International Holdings Limited.

Proceeds from the two-year Regulation S offshore Renminbi bonds will be used for general corporate purposes. Hong Kong Airlines International, a locally-based full-service network carrier which focuses on the Greater China market, will provide a parent guarantee while HKA Group and Hong Kong Airlines will provide subsidiary guarantees.

Clifford Chance advises banking syndicate on SAP bond issue to refinance the acquisition of Concur Technologies, Inc.

28 Nov 2014

Clifford Chance has advised a syndicate of 19 banks led by Barclays, Citi, Deutsche Bank and Goldman Sachs on a EUR 2.75 billion bond issue by SAP SE to help refinance the acquisition of Concur Technologies, Inc.

The bond issue consisted of three tranches – a four-year floating interest rate tranche with a principal amount of EUR 750 million, an eight-year tranche with a principal amount of EUR 1 billion with a 1.125% coupon and a twelve-year tranche with a principal amount of EUR 1 billion with a 1.75% coupon.

Clifford Chance advises banking syndicate on the issuance of Austria's first 'green bond' by Verbund

28 Nov 2014

Clifford Chance has advised a banking syndicate consisting of Commerzbank, J.P.Morgan, Raiffeisen Bank International, Société Générale und UniCredit Bank Austria on the issuance of a 'green bond' by Verbund AG, the first of its kind by an Austrian issuer.

The EUR 500 million bond pays an annual coupon of 1.5% and is due in 2024.