Ashurst has advised a banking consortium led by UniCredit Bank AG ("UniCredit") on the refinancing of the €544 million syndicated loan of alstria office REIT-AG ("alstria"), an internationally managed real estate investment trust.

The new 7-year loan replaces the previous facility, which was due to mature as of July 20, 2015. The early refinancing will allow alstria to benefit from the attractive financing environment and significantly improve the overall debt maturity profile of the company.

Clifford Chance advised KfW (Reconstruction Loan Corporation) on the structuring of a Framework Agreement for the Syria Recovery Trust Fund.

Sydney: Leading international law firm Clifford Chance has advised RBS Morgans and Petra Capital as joint lead managers on the A$61.7 million underwritten pro rata rights offer announced today by Ingenia Communities Group. The company plans to expand its manufactured home park business.

The underwritten pro rata rights offer follows Ingenia's A$20 million placement in June on which Clifford Chance also advised the joint lead managers.

Partner Lance Sacks led on the deal and was assisted by associate Nick Helm.

Davis Polk advised Citigroup Global Markets Inc. as the underwriter in an SEC-registered block trade of 39,075,771 shares of common stock, par value 50¢ per share, of J.C. Penney Company, Inc., sold by investment funds managed by Pershing Square Capital Management, L.P. The net proceeds from the offering totaled approximately $492.4 million.

J.C. Penney Company, Inc. is one of the US's largest apparel and home furnishing retailers, selling family apparel and footwear, accessories, fine and fashion jewelry, beauty products and home furnishings. 

Earlier this year, Hong Kong property developer and long-standing client of the firm, Wing Tai Properties Limited, engaged Herbert Smith Freehills for advice on a US$464 million (HK$3.6 billion) financing deal for the development of a 318,076 sqft. residential development in Sha Tin, New Territories, Hong Kong.

Hogan Lovells has advised the unitranche and super senior lenders on Exponent Private Equity’s £190m dividend recapitalisation of UK ticketing company thetrainline.com which closed on 6 September. The transaction represents the largest unitranche facility put together for a UK-based company this year and the second largest across Europe.

Davis Polk is advising Citigroup, Inc. in connection with the sale of its Citi Venture Capital International (CVCI) funds business to The Rohatyn Group, LLC. Financial terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2013.

Watson, Farley & Williams (“WFW”), a leading international law firm, has advised a consortium of banks and Sace on a US$57,800,000 financing to PT Asian Bulk Logistics.

The loan has been provided by leading European banks, including Italian bank Carige. Sace, the Italian insurance and financial group, acted as guarantor for the borrower on 50% of the loan.

Davis Polk advised Credit Suisse Securities (USA) LLC and Deutsche Bank Securities, as joint lead arrangers and joint bookrunners, in connection with two incremental term loan facilities totaling $1.15 billion for Spectrum Brands, Inc., pursuant to Spectrum Brand’s existing senior secured credit agreement.

Slaughter and May, working as an integrated team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, is advising Arrow Global and its principal shareholder, RBS Special Opportunities Fund, on Arrow Global's intention to proceed with an initial public offering of its ordinary shares, as announced on 10 September 2013.