Allen & Overy said today the GBP150 million retail-eligible bond issue from housing group A2Dominion, the fastest-selling in the history of the Order book for Retail Bonds (ORB), illustrates the very real value in corporates diversifying their funding mix. The bond issue was announced and closed in just one day.
Trowers & Hamlins has acted as Oman local counsel to advise a consortium of sixteen international and local financial institutions on the finance documents for a US$1.85 billion unsecured revolving credit facility (RCF) arranged for Oman Oil Company SAOC (OOC), the energy investment arm of the Sultanate of Oman.
Addleshaw Goddard has advised Helaba and Handelsbanken London Moorgate branch (the German and Swedish banks respectively) on a £325 million loan to Tesco BL Properties Ltd (a joint venture between British Land and Tesco) secured on a portfolio of Tesco tenanted shopping centres.
Ashurst has advised Bank of Tokyo-Mitsubishi (BTMU) on a A$600 million transferable certificates of deposit (TCD) trade as part of the update of its A$3 billion TCD programme.
On 18 September 2014, BTMU Sydney issued a second series of four-year A$600m floating rate TCDs priced at 83 basis points over three-month BBSW (the previous trade of four-year TCDs in March 2014 was priced at +95 basis points). The TCDs are rated Aa3 by Moody's and A+ by S&P's. Morgan Stanley, MUSI, ANZ, NAB and Westpac were the Joint Lead Managers for the trade.
Norton Rose Fulbright advised Natixis Singapore Branch as sole mandated lead arranger and underwriter on a US$225 million limited recourse project financing facility to finance two floating production facilities for PetroFirst Infrastructure Limited, a joint venture between energy-focused private equity leader First Reserve and oilfield services giant Petrofac.
Slaughter and May, Hong Kong, is advising Credit Suisse (Hong Kong) Limited, as placing agent, in relation to the HK$383 million secondary placing and sale of shares in IGG Inc (IGG) held by IDG-Accel China Growth Fund II L.P. and IDG-Accel China Investors II L.P.. The placing and sale of shares represents 7.02% of the issued share capital of IGG and was undertaken by way of an accelerated bookbuilding process to institutional investors.
IGG is an online games developer and operator and is listed on the The Stock Exchange of Hong Kong Limited.
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Linklaters has advised the existing and incoming senior lenders on the structuring and refinancing of €1.4bn of debt facilities for Budapest Airport. The deal involved refinancing the existing 30 banks with both a significantly revised senior facility and entirely new junior debt tranche.
Hogan Lovells has advised Volkswagen Financial Services (VWFS) on its first public securitisation of UK automotive receivables since 2008. The transaction, which closed on 25 September, marks the highest-volume automotive ABS transaction to be completed in Sterling, with the Class A Notes and Class B Notes totaling approximately £1.2billion.
Following advice to VWFS on a number of their German securitisations Hogan Lovells were appointed to act for them on this matter.
Ashurst has advised Goldman Sachs International as arranger and Abu Dhabi Islamic Bank PJSC, Emirates NBD Capital, NCB Capital, QInvest, Goldman Sachs International and the National Bank of Abu Dhabi as joint lead managers and bookrunners and Mashreqbank PSC as co-manager on the issuance of a US$500 million Sukuk.
Eversheds has advised China Merchants Securities (Hong Kong) in connection with the HK$370 million initial public offering (IPO) of Jiashili Group Limited. The company was successfully listed on 25 September 2014.
Jiashili Group Limited is one of the largest biscuit manufacturers in the PRC. The company enjoys a leading role in the Chinese biscuit market and it was named Top 100 Enterprise in China Bakery and Confectionary Industry.