Herbert Smith Freehills has advised China Merchants Bank Co. Ltd. Hong Kong Branch on the establishment of its US$5 billion Medium Term Note (MTN) program and the first drawdown of US$500 million.

The MTN program was established on 28 May 2014 and the Hong Kong Stock Exchange listing of the notes became effective on 13 June 2014. China Merchants Bank offered US$500 million principal amount of notes, with a 2.375% coupon, which will mature in 2017. The proceeds will be used for working capital and general corporate purposes.

Ashurst has advised Jefferies International Limited, acting as joint lead manager and joint book runner with Société Générale Corporate & Investment Banking, in connection with the initial public offering of Viadeo on the Paris Euronext stock exchange (compartment B).

Baker & McKenzie successfully advised the International Bank of Azerbaijan on its debut Eurobond offering to be listed on a European stock exchange. This is the biggest Eurobond issuance in the history of the Azerbaijani banking system.
 
"The International Bank of Azerbaijan is very happy with this result and the work of its legal advisers on our debut Eurobond issue. We sincerely appreciate Baker & McKenzie's prompt assistance throughout the whole duration of the project," said Emil Mustafayev, first deputy chairman of the IBA.
 

Slaughter and May advised Fosse Master Issuer plc in respect of the issue of US$850 million and £500 million 2014-1 Notes in two different classes under its Residential Mortgage-Backed Note Issuance Programme. The Notes were awarded the Prime Collateralised Securities Label by the PCS Secretariat.

Slaughter and May also advised Santander UK plc in its capacity as sponsor, seller, servicer, cash manager and originator under the Programme.

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Clifford Chance has advised Commerzbank AG and its wholly-owned subsidiary Hypothekenbank Frankfurt AG on the sale of its commercial real estate portfolios in Spain and Portugal.

The portfolios of loans in Spain and Portugal with a total volume of EUR 4.4 billion were sold to a consortium comprising J.P. Morgan and Lone Star. The platform in Spain is transferred to an affiliate of Lone Star.

Linklaters has advised the Frankfurt branch of China Construction Bank Corporation (CCB) on the successful issuance of its first offshore renminbi bonds. The Chinese currency bonds are listed on the Regulated Market of the Frankfurt Stock Exchange. The clearing is carried out by Clearstream Banking Frankfurt. The transaction was oversubscribed several times.

Berwin Leighton Paisner LLP advised First International Bank of Israel, Israel’s fifth largest banking group which is listed on the Tel Aviv Stock Exchange, on the sale of its UK banking subsidiary, FIBI (UK) PLC, to Tungsten Corporation plc. The fully UK authorised bank will be re-named Tungsten Bank.

A team led by finance partners Robin Spender and Phil Abbott, including banking associate Aleksandra Cison and trainee solicitor Charlotte Hilton, with support from corporate senior associate Tom Ward, real estate associate Paul Olliff and tax associate Jennifer Martin, has advised the Investec Growth & Acquisition Finance team on the financing of the management buy-out of ASK4 by Darwin Private Equity.

Shearman & Sterling represented Barclays Capital Inc., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC as joint bookrunning managers and Lloyds Securities Inc. and SMBC Nikko Securities America, Inc. as co-managers in connection with Ford Motor Credit Company LLC’s offering of $650,000,000 aggregate principal amount of its Floating Rate Notes due March 12, 2019 and $1,100,000,000 aggregate principal amount of its 2.375% Notes due March 12, 2019.

Shearman & Sterling represented Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC, as the representatives of the initial purchasers, in connection with the Rule 144A/Regulation S initial public offering of FIBRA Prologis, a Mexican real estate investment trust, known for its Spanish acronym as a FIBRA. Prologis Property Mexico, S.A. de C.V., a Mexican corporation and an affiliate of Prologis, Inc., will manage the FIBRA.