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Finance & Banking

Freshfields advises CITIC Bank on inaugural offshore bond issue

10 Mar 2014

Freshfields Bruckhaus Deringer has advised China CITIC Bank Corporation Limited (CITIC) on its RMB1,500,000,000 (US$245m) inaugural offshore bond issue.

The 4.125% bonds will reach maturity in 2017.

CITIC, one of China’s largest state-owned banks, will use the bond for general corporate purposes.

The Freshfields team was led by Hong Kong finance partner Andrew Heathcote, Beijing corporate partner Richard Wang and Hong Kong finance counsel Bing Guan.

Allen & Overy advises on the second phase of ECA backed financings for Etihad Etisalat Company (Mobily)

10 Mar 2014

Allen & Overy has advised Deutsche Bank, Crédit Agricole Corporate and Investment Bank and Société Générale as mandated lead arrangers on two murabaha facilities for Mobily, the Saudi Arabian telecommunications firm.

The two facilities were backed separately by Finnvera, the Finnish Export Credit Agency (USD280 million) and the Swedish Exports Credit Guarantee Board, EKN (USD281m), with FEC and SEK respectively providing the funding.

CMS Hasche Sigle advises VR meine Raiffeisenbank eG on the sale of a majority shareholding in the RT / Raiffeisenbank Touristik Group

07 Mar 2014

VR meine Raiffeisenbank eG is selling 74.9% of RT / Raiffeisenbank Touristik Group GmbH to Samih Sawiris. The purchase price has not been disclosed.

A Berlin - based team led by corporate law partner Dr Eva Annett Grigoleit advised VR meine Raiffeisenbank eG on the legal aspects of the transaction.

DLA Piper's Debt Finance team makes triple completion in one week

06 Mar 2014

DLA Piper's Debt Finance team, part of the Finance & Projects group, closed three major deals last week indicating a significant increase in activity in the market.

Firstly, the Debt Finance team advised RBS and Santander in the refinancing of facilities which supported Hutton Collins and Management's acquisition of the Byron Hamburger chain. The team working on this deal included partner Philip Butler, legal director Andy Rose, senior associate Andrew Papworth and associate Mike Tanner.

Freshfields advises on Fast Retailing secondary listing of HDRs in Hong Kong

06 Mar 2014

Freshfields Bruckhaus Deringer has advised the sole sponsor on the secondary listing of Hong Kong depositary receipts (HDRs) of Fast Retailing Co., Ltd. (Fast Retailing)

International law firm Freshfields Bruckhaus Deringer has advised the sole sponsor on the secondary listing of Hong Kong depositary receipts (HDRs) of Fast Retailing Co., Ltd. (Fast Retailing) by way of introduction on the Hong Kong Stock Exchange, which took place today.

Ashurst advises two bank syndicates on the refinancing of the Herkules and Homer portfolios of Prime Office AG

06 Mar 2014

Ashurst has advised the respective bank syndicates on two financings of Prime Office AG (known as Herkules portfolio and Homer portfolio). Ashurst has advised Deutsche Pfandbriefbank AG (pbb), Société Générale, Natixis Pfandbriefbank AG as well as the AXA Group on the refinancing of a real estate portfolio comprising 38 real properties of Prime Office AG. The so-called "Herkules" portfolio consists mostly of office properties in, inter alia, Bremen, Dusseldorf, Frankfurt, Hamburg and Cologne. The rental space includes a total of approximately 400,000 sqm.

WFW advises Crédit Agricole Corporate and Investment Bank on US$200m loan facility to Petredec

05 Mar 2014

Watson, Farley & Williams has advised Crédit Agricole Corporate and Investment Bank (“CACIB”) in relation to a US$200m loan facility made available to Petredec to provide financing for its acquisition of four 84,000 CBM LPG carriers under construction at Hyundai Heavy Industries Co., Ltd in South Korea.

WFW London advised CACIB on the facility, which was signed on 21 February 2014, and comprises a K-Sure insured tranche and a commercial tranche in relation to each of the newbuildings.

Ashurst advises Liberum Capital on £155 million Placing & Open Offer

03 Mar 2014

Ashurst advised Liberum Capital Limited who acted as sponsor, financial adviser and underwriter to Flybe Group plc in connection with its £155 million capital raising. The capital raising was structured as a Firm Placing and Placing and Open Offer of new ordinary shares in Flybe Group plc, and was fully underwritten by Liberum Capital.

The Ashurst team comprised corporate partner Jonathan Parry, senior associates Stuart Dullard and Philippa Michie (tax), and associate Jessie Heners (US law).