International law firm Simmons & Simmons has advised Mitsubishi UFJ Trust and Banking Corporation (the Trust Bank) on a commercial agreement (Alpha Model Services and Licence Agreement) with Aberdeen Standard Investments. The agreement relates to the development and provision of an investment model employing artificial intelligence (AI), embedding machine learning techniques in the investment process.
Cravath represented the European Investment Bank in connection with its $3 billion registered notes offering. The European Investment Bank, which functions as the bank of the European Union, supports projects that make a significant contribution to growth, employment, economic and social cohesion and environmental sustainability, both in the EU and beyond. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on September 12, 2018.
Shearman & Sterling advised Goldman Sachs (Asia) L.L.C., CLSA Limited, UBS AG Hong Kong Branch and Guotai Junan Securities (Hong Kong) Limited as underwriters on the US$110 million global offering and initial public offering of Hua Medicine Ltd (Hua Medicine) on the Main Board of The Stock Exchange of Hong Kong Limited (the Exchange). The offering was one of the first [three] biotech company deals admitted for listing under the Chapter 18A regime recently introduced by the Stock Exchange in April 2018.
Sidley has advised on the initial public offering of China Chunlai Education Group Co., Ltd. (China Chunlai Education) (HKEX: 1969) on the Main Board of the Stock Exchange of Hong Kong Limited. Our clients were CLSA Capital Markets Limited as sole sponsor, CLSA Limited, AMTD Global Markets Limited, Yuanyin Securities Limited and First Capital Securities Limited as the underwriters in the transaction. The total offering amount was HK$552.6 million (approximately US$70.4 million).
The Firm represented the underwriters, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Jefferies LLC and Leerink Partners LLC, in connection with an offering by Zai Lab Limited (“Zai Lab”) of 7,500,000 American depositary shares (“ADSs”), each representing one ordinary share of Zai Lab, at a public offering price of $20 per ADS. Zai Lab received approximately $141 million in net proceeds from the offering. The offering closed on September 10, 2018. The underwriters have a 30-day option to purchase up to 1,125,000 additional ADSs.
Global law firm White & Case LLP has advised Nordea Bank AB (publ), Skandinaviska Enskilda Banken AB (publ) and AB Svensk Exportkredit (publ) on the EUR 405 million financing of Mekonomen Aktiebolag (publ)’s acquisition of FTZ in Denmark and INTER-TEAM in Poland. The acquisition nearly doubles Mekonomen Aktiebolag (publ)'s turnover and strengthens its position in the sale of automotive spare parts in northern Europe and establishes a strong market position in Denmark and Poland, where Mekonomen Aktiebolag (publ) has no current operations.
Davis Polk is advising UBS Limited as sponsor in connection with the simplification of Unilever’s parent company structure from two legal entities, Unilever PLC and Unilever NV, into a single holding company, New Unilever NV, and the admission to listing on the premium segment of the Official List and to trading on the London Stock Exchange of New Unilever NV.
Davis Polk advised the joint lead managers in connection with Mizuho Financial Group, Inc.’s SEC-registered takedown offering of senior notes, which consisted of $1.1 billion aggregate principal amount of 3.922% senior fixed-to-floating rate notes due 2024, $1 billion aggregate principal amount of 4.254% senior fixed-to-floating rate notes due 2029 and $650 million aggregate principal amount of senior floating-rate notes due 2024. The notes are structured to count as total loss-absorbing capacity (“TLAC”) when TLAC regulations are implemented in Japan.
Firm harnessed a cross-border, interdisciplinary team to advise the underwriters in the high-profile transaction.
Law firm Stephenson Harwood LLP has advised ABN AMRO Bank, in its capacity as agent for itself and Norddeutsche Landesbank Girozentrale , on a US$60 million secured loan facility for Scorpio Bulkers Inc.
The facility will be used to re-finance two Ultramax dry bulk vessels – SBI Perseus and SBI Phoebe – and two Kamsarmax dry bulk vessels – SBI Electra and SBI Flamenco – as well as to provide additional liquidity for the group.