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Finance & Banking

Paul Hastings Represents Initial Purchasers in Fibra Uno’s Inaugural US$1 Billion Senior Notes Offering – First International Debt Offering by a Mexican REIT

30 Jan 2014

Paul Hastings represented Credit Suisse, Deutsche Bank, BBVA, and Santander as initial purchasers in connection with Fibra Uno’s US$1 billion inaugural international debt offering, consisting of US$600 million of 5.250% Senior Notes due 2024 and US$400 million of 6.950% Senior Notes due 2044. Fibra Uno becomes the first Mexican FIBRA to issue debt in the international capital markets in this ground-breaking transaction which also marks the largest debt issuance by a real estate entity in Latin America and the first issuance of 30-year notes by a REIT.

Ashurst advises Numis on the first retail IPO of 2014

30 Jan 2014

Ashurst is advising Numis Securities Limited on the proposed London IPO of McColl's Retail Group ("McColl's" or the "Company"), one of Britain's biggest convenience store chains and the first retailer to announce its IPO this year. McColl's is a leading neighbourhood retailer established in 1973 by its Chairman and CEO, James Lancaster.  It has 1,2761 stores serving the convenience and newsagent sectors and a strong national presence across the UK.

Freshfields advises Bank of Montreal on £708m offer

30 Jan 2014

Freshfields Bruckhaus Deringer is advising Bank of Montreal in connection with the recommended offer by its wholly-owned subsidiary, BMO Global Asset Management (Europe) Limited, to acquire the entire issued and to be issued ordinary share capital of F&C Asset Management plc. The offer values F&C’s share capital at approximately £708 million. It is to be effected by means of a scheme of arrangement and is subject to regulatory approvals.

JPMorgan Chase's $2 Billion Preferred Stock Offering

30 Jan 2014

Cravath represented the underwriters, led by J.P. Morgan Securities, in connection with the US$2 billion offering of depositary shares representing preferred stock of JPMorgan Chase & Co., a leading global financial services firm and one of the largest banking institutions in the United States. The transaction closed on January 22, 2014.

The Cravath team included partner William V. Fogg, senior attorney G. Douglas Johnson and associate Jennifer L. Tanaka.

The State Treasury of the Republic of Poland's $2 Billion Debt Offering

30 Jan 2014

Cravath represented the underwriters, Barclays, Citigroup and Goldman Sachs International, in connection with the US$2 billion registered debt offering of The State Treasury of the Republic of Poland. The notes were listed on the Luxembourg Stock Exchange.


The Cravath team included partner Philip J. Boeckman and associate Coralie Chaufour.

Freshfields advises senior lenders on FCC Environment group's restructuring

29 Jan 2014

Freshfields Bruckhaus Deringer has advised a co-ordinating committee of senior lenders (consisting of BBVA, RBS, Société Générale, Mizuho and BNP Paribas) on the fully consensual financial restructuring of FCC Environment group ("FCCE"), a UK waste and renewable energy business.

In addition to an extension of FCCE's £381m term facilities, the deal included the introduction of a £30m new money revolving facility, provided by certain of the group's senior lenders, and a £30m asset-backed facility.

Financing for Community Health Systems's Acquisition of Health Management Associates

28 Jan 2014

Cravath represented a consortium of financing sources, led by BofA Merrill Lynch and Credit Suisse, in connection with US$12.3 billion of debt financing made available to Community Health Systems to fund its acquisition of Health Management Associates and to refinance certain indebtedness. The debt financing included an aggregate of US$4.0 billion of senior secured and senior unsecured high-yield notes and the incurrence or extension of an aggregate of US$8.3 billion of bank financing.

Baker & McKenzie Advises Vneshprombank on USD225 Million Eurobond Offerings

28 Jan 2014

Baker & McKenzie successfully advised Vneshprombank on its offering of USD200 million 9 percent Eurobonds due in 2016 and a tap offering of USD25 million. Listed on the Irish Stock Exchange, these Eurobonds will be used to diversify the bank’s funding sources and for general corporate purposes.

The book was subscribed by investors from Europe, Asia, and Russia following a roadshow in Moscow, Zurich, Geneva, Frankfurt, and London.

Freshfields advises on US$317m Wanda Commercial Properties rights issue

28 Jan 2014

Freshfields Bruckhaus Deringer has advised a consortium of underwriters on the proposed US$317m rights issue by Wanda Commercial Properties (Group) Co., Limited (Wanda Commercial Properties).

Wanda Commercial Properties is a Hong Kong-listed commercial real estate investment and operations management company. It is the sole business platform for commercial property investments and operations of Dalian Wanda Group.

Wanda Commercial Properties will raise around HK$2,467.5m (US$317m) through the issue of 856,773,210 rights shares.

Sberbank Organizes $2.94 Billion Financing for Yamal Development

28 Jan 2014

Orrick, Herrington & Sutcliffe LLP has advised Sberbank, the largest bank in Russia and Eastern Europe, in connection with its $2.94 billion in acquisition financing to Yamal Development LLC, a joint venture between Russian oil and gas companies Novatek and Gazprom Neft.  The financing enabled Yamal Development LLC to purchase Eni S.p.A.’s 60 percent stake in Artic Russia B.V., which, through SeverEnergia LLC, holds four licenses for the exploration and production of hydrocarbons in the Yamalo-Nenets Region of Russia.