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Finance & Banking

Linklaters advises HSH Nordbank on innovative asset-based lending structure

03 Mar 2014

Linklaters has advised HSH Nordbank AG on an innovative asset-based lending structure. The reference portfolio consists of ship loan receivables of HSH Nordbank.

With this securitisation transaction, HSH Nordbank optimises its own refinancing by selling and transferring loan receivables under the ship financing to a newly established special purpose vehicle. The special purpose vehicle refinances itself by taking out two Schuldschein loans. The senior 700 million U.S. dollar loan provides for HSH Nordbank’s financing. HSH Nordbank itself grants a subordinated loan.

Clifford Chance advises on funding of largest Dutch onshore wind project

03 Mar 2014

A banking consortium consisting of Rabobank, the German KfW IPEX-Bank and the European Investment Bank will provide a total loan of EUR 350 million to NOP Agrowind. Part of the financing is refinanced through the KfW 207 Energy programme. Thanks to this financing NOP Agrowind will build 26 wind turbines on shore with a total capacity of 195 megawatts the largest wind farm in the Netherlands. These wind turbines are part of the Windpark Noordoostpolder. The involved banks want to stimulate the development and use of renewable energy.

Advising Jefferies, JP Morgan and Numis on £1.2bn IPO of AO.com

28 Feb 2014

Simmons & Simmons is advising Jefferies International and JP Morgan Cazenove as Joint Sponsors, Joint Global Co-ordinators and Joint Bookrunners, and Numis Securities as Joint Bookrunner, on the initial public offering (IPO) of AO World plc (AO), the United Kingdom's leading online retailer of major domestic appliances. AO's sales activities are focused primarily on sales of appliances through the Group's own branded websites, principally AO.com.

Herbert Smith Freehills advises Macquarie and UBS on Charter Hall Group's $140m institutional placement

28 Feb 2014

Herbert Smith Freehills has advised Macquarie Capital (Australia) Limited (Macquarie) and UBS AG, Australia Branch (UBS) in relation to their roles as joint bookrunners, joint lead managers and underwriters for Charter Hall Group’s A$140 million fully underwritten institutional placement, announced on Tuesday, 25 February 2014.

The proceeds from the offer will be used to repay drawn debt, fund identified investments and provide capital for planned growth initiatives.

Travers Smith advises on acquisition of minority stake in January Loan Services Limited

28 Feb 2014

A Travers Smith team led by corporate partner Paul Dolman and senior corporate assistant Will Yates has advised January Loan Services and its management team on the acquisition of a minority stake in the company by ISIS Equity Partners. The investment is to be used as growth capital to accelerate the next phase in the company's development.

LG advises Cenkos Securities plc on Summit Germany Limited's admission to AIM

28 Feb 2014

Lawrence Graham LLP has advised Cenkos Securities plc, nominated adviser and broker to established Germany commercial real estate company, Summit Germany Limited ("Summit Germany"), on a placing of new ordinary shares for Summit Germany and the admission of its shares to trading on the AIM market of the London Stock Exchange.  Admission took place on 26 February 2014.

Bingham Team Scores Victory for Credit Suisse

25 Feb 2014

Bingham successfully fended off the latest attempt by Abu Dhabi Commercial Bank (ADCB) to revive a fraud action against Credit Suisse Securities (USA) LLC. In 2010, ADCB commenced an action in New York State Court alleging that Credit Suisse misled it in connection with ADCB’s participation in a restructuring transaction and a related credit default swap, which together allegedly exposed ADCB to more than $350 million in potential losses.

Baker & McKenzie Advises the Joint Coordinators on the US$558 Million Structured Onshore & Offshore Financing

25 Feb 2014

Baker & McKenzie recently advised the joint coordinators, Standard Chartered Bank (Hong Kong) Limited and Hang Seng Bank Limited, on the US$558 million (RMB3.4 billion) two-tranche onshore offshore financing for certain entities being advised by Phoenix Property Investors Limited, a Cayman Island fund management firm.

Investec turns to Macfarlanes on sale of Investec Trust Group to Salamanca Group

25 Feb 2014

Macfarlanes has advised Investec Bank PLC on the sale of its international trust and fiduciary services business to Salamanca Group, the merchant banking and operational risk management business.

The business, which has currently over £4.5bn in assets under administration, will be run as a stand-alone trust & fiduciary business unit of Salamanca Group, re-branded as Salamanca Group Trust & Fiduciary.

Dentons advises syndicate of Polish Banks on PLN 495 million (approx. US$162 million) multipurpose financing to Inter Cars S.A.

21 Feb 2014

Warsaw/Kyiv-Dentons acted as legal counsel to Bank Polska Kasa Opieki S.A., Bank Handlowy w Warszawie S.A., BRE Bank S.A., ING Bank Slaski S.A. on the PLN 495 million (approx. US$162 million)multipurpose financing to Inter Cars S.A., the biggest automotive spare parts distributor for passenger cars, commercial vehicles and trucks in Middle-Eastern Europe.