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Finance & Banking

Allen & Overy advises Deutsche Bank AG and J.P. Morgan on refinancing and CMBS securitisation in the amount of EUR 406.1 million

11 Sep 2013

Frankfurt am Main, 10 September 2013.  Allen & Overy LLP has advised Deutsche Bank AG and J.P. Morgan as arrangers and lead managers on the refinancing of the Quokka Finance p.l.c. securitisation by a new CMBS (Monnet Finance Ltd.) in the amount of EUR 406.1 million. 

With this transaction, the volume of European CMBS transactions entered into this year has increased to approximately EUR 5.5 billion.

Hogan Lovells Advises On Two Significant Block Trade Transactions

10 Sep 2013

Hogan Lovells has successfully closed two block trade transactions today for a combined value of over HK$2.4 billion. On the first transaction Hogan Lovells advised UBS AG as the sole placing agent in respect of a placement of 52,392,000 new H-shares in Tong Ren Tang Technologies Co. Ltd. ("Tong Ren Tang"), raising approximately HK$1.205 billion (US$154 million). Tong Ren Tang is a leading Chinese pharmaceutical company engaged in the production and distribution of Chinese medicines.

Simpson Thacher Obtains Second Circuit Summary Affirmance of $168 Million Judgment for Bank of America in Derivatives Case

09 Sep 2013

In a summary order issued on August 30, the United States Court of Appeals for the Second Circuit affirmed the $168 million judgment that Simpson Thacher obtained for its client Merrill Lynch Capital Services ("MLCS") after a bench trial in the Southern District of New York.  The case involved a currency and interest rate derivatives transaction between MLCS and UISA Finance, the financing company of Usinas Itamarati ("Itamarati"), a Brazilian company engaged in the production of sugarcane, soy, and related products.

Ashurst advises ERDF on the signature of a commercial lease for their new headquarters located in La Défense

05 Sep 2013

Ashurst has advised ERDF on the signature of a green lease of nine years for their new headquarters within the Tour Blanche building (former Chartis tower), located in the heart of the business district of La Défense, Paris. With a 30 000 square meters' surface area on 26 floors, the business tower was entirely refurbished by a fund managed by Perella Weinberg Real Estate. The move has been planned for the second half of 2014.

Davis Polk Advises Lenders in Financing for Verizon’s $130 Billion Acquisition of Verizon Wireless

05 Sep 2013

Davis Polk is advising J.P. Morgan Securities LLC, Morgan Stanley Senior Funding, Inc., Barclays Bank PLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers and joint bookrunners and JPMorgan Chase Bank, N.A. as administrative agent, in connection with (i) a $61 billion unsecured bridge loan facility, (ii) a $12 billion unsecured term loan facility and (iii) a $2 billion unsecured revolving credit facility for Verizon Communications Inc.

Rexnord $1.95 Billion Incremental Facility and Tender Offer

04 Sep 2013

Davis Polk advised Credit Suisse AG as administrative agent and Credit Suisse Securities (USA) LLC as joint lead arranger and joint bookrunner in connection with Rexnord LLC’s and RBS Global, Inc.’s (“Rexnord”) $1.95 billion incremental term loan facility, which was issued pursuant to Rexnord’s existing senior secured credit agreement, and the amendment of certain provisions in the existing credit agreement.

Verizon Acquires 45% Interest in Verizon Wireless from Vodafone

03 Sep 2013

Davis Polk is advising J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as financial advisers to Verizon Communications Inc. in connection with its $130 billion acquisition of a 45% interest in Verizon Wireless from Vodafone Group Plc. The transaction, which is expected to close in the first quarter of 2014, is subject to customary closing conditions, including regulatory approvals and the approval of both companies’ shareholders.