Linklaters represented Citi and Santander in the inaugural issuance of securities under the Trade MAPS Program. The Series 2013-1 securities are rated by Fitch and S&P and are backed by a diversified portfolio of trade finance assets originated by Citi and Santander in multiple booking centres across the globe.
Clifford Chance, Paris has advised the issuer HSBC France on the issue of Euro 1,000,000,000 bonds bearing interest at a rate of 1.625% with a maturity of five years (2018). This bond issue constitutes the second issue of this amount this year for the issuer and reflects the current strong market opportunities.
The Clifford Chance Paris team comprised Cedric Burford (partner, capital markets) and Ludovic Timbal Duclaux de Martin (senior associate, capital markets).
CMS is advising Cenkos Securities (“Cenkos”) in its capacity as Nominated Adviser and corporate broker to RM2 International, S.A. (“RM2”), which has announced its intention to float on AIM. In conjunction with its admission to AIM, Cenkos is advising RM2 on an institutional placing to raise £137.2 million at a placing price of 88 pence per share, giving RM2 an anticipated market capitalisation on admission of £278.3 million. This makes RM2’s IPO the biggest float to be announced on AIM this year. Admission is expected to occur on 6 January 2014.
The Hong Kong office of global law firm Eversheds has advised BOCI Asia Limited in connection with the HK$1.09 billion initial public offering of Consun Pharmaceutical Group Limited in Hong Kong. The company was succeesfully listed on 19 December 2013.
Consun Pharmaceutical Group Limited is an integrated pharmaceutical company principally engaged in the research, manufacturing and sale of modern Chinese medicines and medical contrast medium in the PRC. Its key product, uremic clearance granule, is the leading modern Chinese medicine for treating kidney disease in the PRC.
Ashurst advised a banking consortium led by UniCredit Bank AG and the Bank of Ireland on the financing of the takeover of Hofmann Menü-Manufaktur by Partners Group. The seller is Gilde Buy Out Partners. Partners Group acquired the German provider of customised cook and freeze products to small business canteens and social organisations on behalf of its clients, together with the management of Hofmann Menü.
The transaction is subject to approval by the respective antitrust authorities.
Norton Rose Fulbright has advised lenders Deutsche Bank, Unicredit Bank Austria, Zagrebacka Banka, the International Finance Corporation (IFC) and the European Investment Bank (EIB) on the financing of a €331 million project to expand and operate Zagreb Airport in Croatia.
Clifford Chance in Dubai has advised Standard Chartered Bank as Global Coordinator and Joint Lead Manager, Dubai Islamic Bank PJSC, First Gulf Bank PJSC, Goldman Sachs International and National Bank of Abu Dhabi PJSC as Joint Lead Managers and Abu Dhabi Islamic Bank PJSC and Union National Bank PJSC as Senior Co-Lead Managers on the issuance by Aldar Properties PJSC (Aldar) of the US$750 million 4.348% trust certificates due 2018 (the Sukuk) listed on the Irish Stock Exchange.
Clifford Chance advises the arrangers and dealers on the establishment of a US$2 billion trust certificate issuance programme by Ooredoo Q.S.C. and the inaugural issuance of US$1.25 billion of trust certificates thereunder
Clifford Chance has advised Deutsche Bank on two longevity swaps, one with the Trustees of the AstraZenaca Pension Fund, in respect of approximately £2.5bn of the fund liabilities, and one with the Trustees of five pension schemes sponsored by Carillion plc, in respect of approximately £1bn of the fund liabilities.
Under each of the arrangements, Deutsche Bank will hedge the longevity exposures of the scheme, passing on the risk to a syndicate of reinsurers, including new entrants into the market.
Watson, Farley & Williams Asia Practice has advised MISC Capital in relation to their USD$1 billion loan facility to refinance existing debt and for other corporate purposes.