Allen & Overy has advised Industrial and Commercial Bank of China Limited (ICBC) on its proposed acquisition of 75.5 percent of the issued share capital of Tekstil Bankasi A.S (Tekstilbank) from GSD Holding A.S. (GSD Holding) for 669 million Turkish Liras (approximately USD316 million). Under Turkish capital markets law, the acquisition will trigger a post-closing mandatory tender offer for all remaining shares in Tekstilbank.
Davis Polk advised PepsiCo, Inc. on its registered offering of €500 million aggregate principal amount of 1.750% senior notes due 2021 and €500 million aggregate principal amount of 2.625% senior notes due 2026. BNP Paribas, Deutsche Bank AG, London Branch and HSBC Bank plc acted as joint book-running managers for the offering.
Allen & Overy LLP advised ANOA Capital S.A., quirin bank AG and Close Brothers Seydler Bank AG in connection with the issue of four series of bonds by Air Berlin PLC in connection with its recapitalization.
The fixed bonds have terms of five and seven years, denominations in Euro and Swiss Franc and a high-yield style covenant package. The bonds have an aggregate principal amount of EUR 250 million (or the equivalent in Swiss Franc).
Dentons has advised banking group Emirates NBD on a US$90.5 million term loan facility to Abu Dhabi-based investment company Centurion Investments.
The loan was to finance Centurion's acquisition of CSH Investment, a leading regional healthcare group with a growing portfolio of hospitals, pharmacies and clinics, including Emirates Hospital, CosmeSurge. The deal is considered the largest by Centurion to date.
CMS is advising Wells Fargo Bank N.A. on its funding of the £291 million acquisition by Cirrus Logic, of Wolfson Microelectronics Plc, which was announced yesterday.
Cirrus, which is listed on NASDAQ, is a premier supplier of high-precision analogue and digital signal processing components for audio and energy markets and is a close partner of Apple. Wolfson is a leading UK audio chip designer that supplies audio components in Samsung’s phones and tablets.
Eversheds has advised China Merchants Bank (Hong Kong), on the acquisition financing for the merger takeover and privatisation of ChinaEdu Corporation, a company listed on the NASDAQ exchange.
ChinaEdu Corporation is a leading online educational services provider, and one of the largest service providers for online degree programs in China.
Herbert Smith Freehills is advising Citigroup Global Markets Australia Pty Limited, Deutsche Bank AG, Sydney Branch and UBS AG, Australia Branch in relation to their role as joint lead managers of Spotless Group Holdings Limited’s (Spotless) initial public offering (IPO) and listing on the Australian Securities Exchange.
Ashurst advised SEB AG, NIBC Bank N.V. and Bank of Ireland on the financing of the acquisition of bakery chain Dahlewitzer Landbäckerei GmbH (Dahlback) by financial investor Deutsche Beteiligungs AG (DBAG) and one of its funds. The parties have agreed not to disclose financing volume and purchase price. The vendors are private equity firm Steadfast Capital and Volker Schülke, Dahlback's managing partner. Schülke will re-invest in the company and remain in his current role. The transaction is conditional on approval by the cartel authorities.
Ashurst advised the European Investment Bank (EIB) on financing the research and development activities (R&D) of wind turbine manufacturer Nordex SE. The bank will provide the company with a loan of €100 million for its multi-year R&D programme.
The EIB is the European Union's bank for long-term financing. It is owned by the member states of the EU. Apart from financing research, development and innovation, the bank focuses its activities on strategic infrastructure, resource efficiency as well as small to mid-size companies.
Cravath represented the underwriters, led by Morgan Stanley and Citigroup, in connection with the US$3.0 billion registered high-yield senior debt offering of Chesapeake Energy Corporation, the second-largest producer of natural gas and the 10th largest producer of oil and natural gas liquids in the United States. The transaction closed on April 24, 2014. Cravath also represented Morgan Stanley and Citigroup as dealer managers for a concurrent senior notes tender offer by Chesapeake Energy Corporation.