Taylor Wessing advised HSH Nordbank AG, as lender, in connection with the financing of three wind parks located in Migé, Escamps and Clamecy-Oisy (Burgundy, France), consisting of 13 wind turbines with an aggregate nominal power capacity of 26.65 MW.
Ashurst advised J.P. Morgan Cazenove in relation to IMI plc's return of approximately £620 million from its balance sheet to its shareholders. The cash return follows the $1.1 billion disposal of its Beverage Dispense and Merchandising divisions to The Marmon Group, a Berkshire Hathaway company, which was announced on 2 January 2014.
Norton Rose Fulbright advised Royal Bank of Canada (RBC) in its inaugural Basel III-compliant domestic public offering of $500 million of Non-Cumulative, 5-Year Rate Reset Preferred Shares Series AZ. Our team of Dawn Whittaker, Heidi Reinhart and Evelyn Li assisted RBC’s in-house legal team led by Erin Dion, Senior Counsel.
The offering was originally announced at $200 million, but as a result of strong investor demand, the gross proceeds of the offering were increased to $500 million. The expected closing date is January 30, 2014.
Cravath represented the underwriters, BofA Merrill Lynch, J.P. Morgan Securities, SunTrust Robinson Humphrey and Wells Fargo Securities, in connection with the US$450 million registered notes offering of Advance Auto Parts, Inc., a leading specialty retailer of automotive aftermarket parts, accessories, batteries and maintenance items. The transaction closed on December 3, 2013. The notes were issued in connection with the proposed acquisition of General Parts International, Inc. by Advance Auto Parts, Inc.
Trowers & Hamlins has advised existing client Ahli United Bank B.S.C. (AUB) on the issue of an unsecured, privately placed BHD 20 million (approximately US$53 million) bond by the largest consumer finance company in Bahrain, Bahrain Commercial Facilities Company B.S.C. (BCFC).
Clifford Chance has advised Volkswagen Financial Services AG on the acquisition of the financial services business from MAN Group.
Through the acquisition, Europe's largest automotive financial services provider will extend its business by providing financing, leasing and renting solutions for MAN Truck & Bus. Volkswagen Financial Services intends to further expand the financial services activities in this area in order to strengthen the sales objectives of the brand.
Natixis, as arranger, has set up a securitization transaction for revolving credit tapped via PASS credit cards issued by Carrefour Banque. The receivables are transferred to a debt securitization fund with sub-funds the refinancing of which is initially undertaken via the issue of a series of priority bonds admitted to trading on Euronext Paris totalling 400 million Euros, along with subordinated bonds and transferee bonds taken out by Carrefour Banque.
Baker & McKenzie advised Mercedes-Benz Bank AG, Société Générale Corporate, Investment Banking (Société Générale), Landesbank Baden-Württemberg, Commerzbank AG, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt and Main and HSBC Bank PLC as transaction counsel in the fourth public ABS transaction of Mercedes-Benz Bank AG. In addition, Dr. Matthias Eggert acted as trustee counsel for this transaction.
Herbert Smith Freehills has advised The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank as joint lead arrangers on a US$100 million secured borrowing base facility to fund the development and operation of the Panzhuang coalbed methane (CBM) block in China.
Paul Hastings, a leading global law firm, announced today that the firm represented Nomura, Bank of Taiwan, Cathay United Bank, Co., Ltd., ICBC International Capital Limited and Maybank Investment Bank Berhad as mandated lead arrangers in the US$330 million term loan facility for AsiaInfo-Linkage, Inc.’s (“AsiaInfo “) US$890 million going-private transaction managed by a consortium led by Chinese private equity company CITIC Capital Partners (“CITIC”). AsiaInfo is China’s leading provider of telecommunication software solutions.