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Finance & Banking

Ashurst advises on the IPO of Sanditon Investment Trust

10 Jul 2014

Ashurst advised J.P. Morgan Securities plc, who acted as sponsor, global co-ordinator and bookrunner to Sanditon Investment Trust plc in connection with its placing, offer for subscription and listing on the Official List and the Main Market of the London Stock Exchange.

Sanditon Investment Trust plc is a closed-ended investment company managed by Sanditon Asset Management Limited, an investment manager that specialises in pan-European equities. Sanditon Investment Trust's objective is to invest in a diversified portfolio of leading large capitalisation equity indices.

Freshfields advises on the Republic of Bulgaria’s Sovereign Bond issue

10 Jul 2014

Freshfields Bruckhaus Deringer has advised Citigroup, HSBC and J.P. Morgan in relation to the issue by the Republic of Bulgaria of EUR 1,493 million 2.95% Notes due 2024.

The Republic of Bulgaria made another impressive foray into the public international debt capital markets following a successful return in July 2012.

The Freshfields team advising on the deal was led by Freshfields debt capital markets partner Duncan Kellaway and senior associate Nick Hayday.

Ashurst advises RBS, RBC and Santander on £93 million wind farm financing to Greencoat UK Wind plc

08 Jul 2014

Ashurst advised RBS, RBC and Santander as lenders to Greencoat UK Wind Holdco Limited, a subsidiary of Greencoat UK Wind plc, on an expansion of the original facility that enabled Greencoat limited fund to purchase two additional wind farms (Maerdy and Kildrummy) to add to the 10 wind farms they already own. Greencoat now has an aggregate operating portfolio of 226.4MW. This deal closed on 25 June 2014.

Clifford Chance advises Kasikornbank on solar rooftop financings Landmark financing paves the way for greater use of sustainable energy

08 Jul 2014

Clifford Chance has advised Kasikornbank on the financing of four solar PV rooftop projects developed by Gunkul Engineering Public Company Limited, the first such financings in Thailand. The projects are owned by WHA Corporation Public Company Limited and Gunkul Engineering Public Company Limited. Each project is located on the rooftop of an existing warehouse of WHA Corporation Public Company Limited.

Norton Rose Fulbright acts on £150 million IPO of River and Mercantile Group PLC

07 Jul 2014

Norton Rose Fulbright has advised Canaccord Genuity and Numis Securities, joint sponsors and joint bookrunners, on the initial public offering (‘IPO’) of River and Mercantile Group PLC, the advisory and investment solutions business.

The Company’s shares were priced at 183p each, giving a total market capitalisation for the business of £150.2 million. £41.5 million was raised through the IPO between the selling shareholders and new money.

Freshfields advises on US$421m Uni-President rights issue

07 Jul 2014

Freshfields Bruckhaus Deringer has advised a consortium of underwriters on a US$421m rights issue for Uni-President China Holdings Limited (Uni-President).

The new issue, comprised of 3,599,445,000 shares at a price of HK$4.56 per share, commenced trading on the Hong Kong Stock Exchange on 25 June 2014.

Uni-President is one of China’s largest food and beverage manufacturers and includes the iconic ‘Uni-President’ brand.

Allen & Overy advises on the IPO of NN Group

07 Jul 2014

Allen & Overy has advised ING and NN Group on the initial public offering of up to 77 million ordinary shares of NN Group through ING (the Selling Shareholder). This includes the exchange into NN Group shares of EUR 450 million of mandatorily subordinated notes and excluding the exercise of the over-allotment option, gross proceeds to ING at settlement of the IPO amount to approximately EUR 2.0 billion.