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Finance & Banking

Addleshaw Goddard advises Zeus Capital on £65m IPO of entu

20 Oct 2014

Addleshaw Goddard's Manchester corporate team has advised Zeus Capital on the £65m IPO of entu on AIM. The Manchester-based home improvements business plans to have a market capitalisation of £65.6m upon admission to AIM which is expected to take place on 30 October.

Zeus were advised by corporate finance partner Roger Hart and legal director Duncan Wilson assisted by associate Katie Simpson.

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."

Linklaters advises on first Additional Tier 1 Capital issuance by a PRC bank

20 Oct 2014

Linklaters advised Bank of China (“BOC”) on its landmark CNY39.94 billion (USD6.5 billion) issue of RMB-denominated US Dollar settled 6.75 per cent. offshore preferences shares. This innovative transaction is:

  * the first ever Basel III compliant Additional Tier 1 Capital issuance by a PRC bank
  * the first ever preference share issuance by a PRC company
  * the largest ever international regulatory capital issuance by a PRC bank
  * the largest ever AT1 issue in the world after the implementation of Basel III

White & Case Advises IFC and Lenders on Significant Series of Solar Power Projects in Jordan

20 Oct 2014

White & Case LLP has advised International Finance Corporation (IFC) and a group of other lenders on a series of seven solar power projects in Jordan.

Margaret Cole, White & Case executive partner in the United Arab Emirates, said: "We adopted a unique approach, working with IFC to develop a financing model which was rolled out successfully across seven separate photovoltaic solar power projects. Each project developer benefited from this streamlined approach and the resulting efficiency in implementing the financings."

Shearman & Sterling Advises on Petróleos Mexicanos’ US $1 Billion Notes and US $1.5 Billion Bonds

17 Oct 2014

Shearman & Sterling represented Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with (i) an issuance of 4.250% Notes due 2025 in an aggregate amount of U.S. $1,000,000,000 and (ii) an issuance of 5.50% Bonds due 2044 in an aggregate amount of U.S. $1,500,000,000 of Petróleos Mexicanos (Pemex) and guaranteed by its wholly-owned subsidiaries Pemex-Exploración y Producción, Pemex-Refinación and Pemex-Gas y Petroquímica Básica.

Paul Hastings Represents Wells Fargo Bank in Financing the Acquisition of Amquip Crane Rental LLC by Clearlake Capital Group

17 Oct 2014

Paul Hastings LLP represented Wells Fargo Bank, N.A., as agent, joint lead arranger, and joint book runner, in connection with the financing of the acquisition by Clearlake Capital Group, L.P. of Amquip Crane Rental LLC.  Amquip is a leading provider of manned and bare rental lifting solutions to the North American energy, industrial, and other end markets.  Financial terms of the transaction were not disclosed.

Finance partner Jennifer Yount led the Paul Hastings team, which also included of counsel Jennifer Hildebrandt and associate Lisa Tran.

Paul Hastings Represents Banks in Financing DPx Holdings B.V.’s Acquisition of Gallus BioPharmaceuticals

17 Oct 2014

Paul Hastings LLP represented UBS Securities LLC, J.P. Morgan Securities LLC, Jefferies Finance LLC, Keybank National Association and Morgan Stanley Senior Funding, Inc. as joint lead arrangers and joint bookrunners and UBS AG, Stamford Branch as administrative agent in connection with a $160 million and €70 million incremental add-on to DPx Holdings B.V.’s credit facility. The proceeds were used primarily for the purchase of Gallus BioPharmaceuticals, LLC, a contract manufacturing company involved in biologics development.

Eversheds advises Investec on £165m Gamma Communications IPO

17 Oct 2014

Eversheds has advised Investec Bank plc as Nomad, Broker and Sole Bookrunner on the £165m AIM IPO of Gamma Communications plc. The IPO saw the placing of 44,163,374 existing ordinary shares in Gamma at a price of 187 pence per share, raising gross proceeds of approximately £82.6 million for the selling shareholders. On Admission, Gamma had a market capitalisation of approximately £165.2 million.

Eversheds advises Goldman Sachs on acquisition of major international logistics firm

17 Oct 2014

Eversheds has advised Goldman Sachs’ Merchant Banking Division on a deal to acquire logistics services provider Neovia Logistics LLC from Platinum Equity, LLC and Caterpillar, Inc.

Eversheds provided holistic employment, pensions and real estate advice across EMEA, South America and Asia Pacific. The Eversheds team was led out of the London office by partner Fiona Bolton and Senior Associates Louise Hopkin and Lizzie Field from the firm’s Human Resources Practice Group.

Herbert Smith Freehills advises banks on A$500m syndicated loan facility

17 Oct 2014

Herbert Smith Freehills advised the syndicate of banks in relation to an unsecured A$500M syndicated facility agreement provided to Colonial First State Wholesale Geared Share Fund (the Fund). The syndicated facility was provided, in part, to refinance certain of the Fund’s existing bilateral financing arrangements.

The mandated lead arrangers and bookrunners (MLABs) were Australia and New Zealand Banking Group Limited and Commonwealth Bank of Australia.

Financial close was achieved on 15 October 2014.

MOL Global, Inc. Initial Public Offering and NASDAQ Listing

17 Oct 2014

Davis Polk advised Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and UBS Securities LLC as representatives of the underwriters of the initial public offering by MOL Global, Inc. (MOL) and certain selling shareholders of 13,500,000 American Depositary Shares, each representing one ordinary share of MOL, for a total proceeds of US$169 million. One of the selling shareholders has granted the underwriters an option to purchase up to an additional 2,025,000 ADSs. The ADSs are listed on NASDAQ under the symbol “MOLG.”