In one of the largest unsecured credit financings ever in the aircraft leasing industry, Milbank, Tweed, Hadley & McCloy represented a group of leading financial institutions in providing an $850 million revolving credit facility for leading aircraft lessor Aviation Capital Group.

New York transportation partner Drew Fine, chair of Milbank’s Finance practice, led the team advising lenders, including JP Morgan Chase as lead arranger, along with Citigroup Global Markets Inc., RBC Capital Markets, and BNP Paribas.

Clifford Chance has advised Morgan Stanley as the sole underwriter and bookrunner of the global offering of PW Medtech's HK$1.2 billion (approx. US$155 million) listing on the Main Board of the Stock Exchange of Hong Kong.

A total of 400 million shares were on offer and priced at HK$3.18 each. The offering was 19.33 times oversubscribed.

Partner Tim Wang who led on this transaction, said, "I'm pleased to have worked on this listing, which was very well received by the market."

Shearman & Sterling advised J.P. Morgan Securities LLC and TD Securities as arrangers and bookmanagers in connection with a $1 billion cross-border financing for TransCanada Pipeline USA Ltd.

The Shearman & Sterling team included partner Maura O’Sullivan (New York-Finance), counsel Susan Hobart (New York-Finance) and associate Dovid Duchman (New York-Finance).

Milbank, Tweed, Hadley & McCloy has advised on two large capital markets deals on behalf of first-time corporate issuers in Guatemala. The two offerings of senior notes together raised $500 million.
 

Freshfields Bruckhaus Deringer has represented Deutsche Bank AG (DB) in its successful defence, before the English High Court, of a claim made by Sebastian Holdings Inc. (SHI). SHI is wholly owned and controlled by Norwegian billionaire, Alexander Vik.

In a 800 page judgment handed down today, Mr Justice Cooke not only dismissed the entirety of SHI’s $8 billion claim, but also ordered that SHI pay DB over $240 million and costs in respect of sums due to DB.

Allen & Overy LLP has advised UBS AG and Zürcher Kantonalbank in the private placement of its shares in Swiss Ascom Holding AG by way of an accelerated bookbuilding process.

Société Générale, advised by Clifford Chance, has purchased Crédit Agricole CIB’s 50% stake in Newedge, their common joint venture broker, for an amount of 275 million Euros. Following this transaction, Societe Generale now owns 100% of Newedge Group.

Concurrently Crédit Agricole SA has acquired a 5% stake in Amundi from Societe Generale, their joint venture asset management company, for 337.5 million euros. Further to this transaction Crédit Agricole owns 80% of Amundi and Societe Generale 20%.

Shearman & Sterling represented Citigroup Global Markets Limited and Barclays Bank PLC as joint bookrunners on Bilbao (Luxembourg) S.A.’s offering of €150 million of its 10.50%/11.25% PIK Toggle Notes due 2018. The offering, which was conducted pursuant to Rule 144A and Regulation S under the US Securities Act, closed on October 24, 2013.

Shearman & Sterling represented Deutsche Bank AG New York Branch, as administrative agent, in $300 million in senior unsecured credit facilities for Summit Hotel Properties Inc., a hospitality REIT which owns of a portfolio of 94 hotels located in 24 states. The credit facilities included a $225 million revolving credit facility and a $75 million term loan, which were syndicated to a group of bank lenders.

The Shearman & Sterling team included partner Malcolm Montgomery (New York-Real Estate) and associate Matthew Stoller (New York-Real Estate).

Shearman & Sterling represented BNP Paribas Securities Corp. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead managers in connection with the issuance by the North American Development Bank of $300,000,000, 2.300% Notes due 2018.