Herbert Smith Freehills has been ranked by Dealogic as the top legal adviser for African project finance transactions so far in 2013. In its recently released "Project Finance Statshot", Dealogic attributes the firm with 10.7% market share in Africa, having advised on US$1.3 billion of closed deals between 1 January and 23 August.
Allen & Overy has advised Dutch development bank Nederlanse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), as part of a consortium comprising Hong Kong, Taiwanese and Korean banks, on a USD90 million loan facility (subject to the exercise of a greenshoe option) to China Singyes Solar Technologies Holdings (Singyes).
This is the first syndicated loan Singyes has raised since its listing in Hong Kong and the second financing made by FMO in the China solar energy sector.
Louis Dreyfus Commodities BV has successfully issued its first senior Eurobonds in the amount of EUR 400 million. The bonds are listed on the Official List of the Luxembourg Stock Exchange.
Banks involved as leaders on the issue of bonds are BNP Paribas, ING, Natixis and Société Générale Corporate & Investment Banking, which were recommended by a team composed of Clifford Chance Cédric Burford (partner) and Gemma Doyle.
Simpson Thacher recently represented the initial purchasers in connection with the offering of US$2 billion of senior bonds in tranches due 2016, 2018 and 2023 by Japan’s Sumitomo Mitsui Banking Corporation, guaranteed by the bank’s New York branch. The senior bonds were offered and sold in reliance on the exemption from SEC registration provided in Section 3(a)(2) of the Securities Act. Goldman Sachs & Co., Citigroup Global Markets Inc., Barclays Bank PLC, Merrill Lynch, Pierce, Fenner and Smith Incorporated and SMBC Nikko Capital Markets Limited were the joint lead manager
Jones Day advised Kingsbridge Finance in the insolvency of Kunert AG, the German listed hosiery company. Kingsbridge Finance provided interim financing and acquired a minority stake in the new Kunert Fashion company, the majority of which was bought by the Austrian investor Grossnigg.
For additional information about this matter, please contact: Karsten Müller-Eising
Client(s): Kingsbridge Finance S.a r.l.
Practice(s): Business Restructuring & Reorganization
Office(s): Frankfurt
As part of the Campus stimulus plan, the French Government, local authorities and Vinci Construction France have signed a public-private partnership (PPP) for the third phase of reconstruction and rehabilitation of part of the university of Mirail by the end of 2016 for an amount of € 202 million. Over a period of 27 years, the partnership agreement shall include the financing, design, construction but also maintenance and building maintenance.
Global law firm White & Case LLP has advised Citigroup and Barclays as Dealer Managers and Joint Lead Managers on the Republic of Ghana's US$1 billion, 7.875 per cent Reg S/Rule 144A Eurobond issue.
The deal comprised an issue of US$750 million in new Notes and an exchange offer of US$250 million in new Notes issued by Ghana in exchange for its existing Notes issued in 2007. The new Notes are due in 2023 and are listed on the Irish Stock Exchange.
Allen & Overy said today the Lighthouse Trade Finance transaction brought together tried and tested financing structures from different areas of structured finance, to create a financing platform for a new asset class and opening a new funding avenue for commodity trade finance.
Simpson Thacher recently represented the underwriters, led by Barclays Capital Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, in connection with the public offering by Boston Scientific Corporation (“Boston Scientific”) of $1.05 billion of debt securities, consisting of $600 million of 2.65% notes due 2018 and $450 million of 4.125% notes due 2023.
Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith Incorporated and HSBC Securities (USA) Inc. as joint lead managers in connection with Estado Plurinacional de Bolivia’s issuance of $500 million of its 5.950% notes due 2023.
The following Shearman & Sterling team advised the joint lead managers in the transaction: partner Stuart Fleischmann (New York-Capital Markets) and associates Jesse Cuevas (San Francisco-Capital Markets) and Antonio Herrera Cuevas (San Francisco-Capital Markets).