Davis Polk advised Morgan Stanley & Co. LLC as initial purchaser in connection with a Rule 144A offering by Move, Inc. of an aggregate principal amount of $100 million of its 2.75% convertible senior notes due 2018.
The Firm recently represented the underwriter, Goldman, Sachs & Co., in a secondary offering by certain funds affiliated with CCMP Capital Advisors, LLC of an aggregate of 7,023,063 shares of Generac Holdings Inc.’s common stock, representing CCMP’s remaining equity interests in Generac. A total of $297 million in net proceeds was raised in the offering. Affiliates of CCMP received all of the gross proceeds from the offering.
National law firm Irwin Mitchell's real estate team has advised US bank, Wells Fargo, on the acquisition of a £4 billion commercial real estate loan book from Hypothekenbank Frankfurt (formerly Eurohypo). This is one of the largest European commercial real estate debt transactions ever.
Commerzbank, which owns Hypothekenbank Frankfurt stated that the blended discount across the whole loan book was 3.5% against a "fair valuation of the portfolio."
Houston, Texas – Paul Hastings LLP, a leading global law firm, announced today that the firm represented BMO Capital Markets as sole lead arranger and sole bookrunner, and Bank of Montreal, as the administrative agent in connection with a $500 Million senior secured revolving credit facility for WildHorse Resources II, LLC.
Finance partner Paris Theofanidis led the Paul Hastings team, which also included associates R. Cramer Miller and Brian Carter.
Shearman & Sterling represented Banco de Costa Rica, the oldest state-owned financial institution in Costa Rica, in connection with its 144A/Regulation S offering of US$500 million aggregate principal amount of its 5.25% Senior Notes Due 2018. This is Banco de Costa Rica’s first issuance of securities in the international capital markets.
Shearman & Sterling represented Credit Suisse Securities (Europe) Limited, Commerzbank Aktiengesellschaft and Natixis on Magnolia (BC) S.A.’s €325 million offering of 9.00% Senior Secured Notes due 2020 in connection with the leveraged buyout of Ginkgo B. Company S.A.S. and its subsidiaries (the “Maisons du Monde Group”) by Bain Capital Europe Fund III, L.P. (“Bain Capital”) (the “Acquisition”).
Slaughter and May, Hong Kong, advised Ratnakar Bank Limited ('RBL'), one of India's fastest growing private sector banks, on English law aspects of their acquisition of RBS's business banking, credit cards and residential mortgage businesses in India. The acquisition is subject to approvals from the Competition Commission of India ('CCI').
RBL was established in 1943 and is a US$2.5 billion domestic commercial bank with 131 branches and 217 ATMs across 11 Indian States. It offers services across five business sectors and serves more than five hundred thousand customers.
Linklaters has advised the BNP Paribas Emissions- und Handelsgesellschaft mbH on the actualisation of their securities programs with regard to the structured certificate of indebtedness for private investors. For this purpose, two basis prospectus have been launched: A securities prospectus for bond warrants and one for certificates, whereas in each case a different basis value exists for e.g. shares, raw materials and currency.
Clifford Chance advised UniCredit Bank AG on the securitisation of German SME loans in an amount of EUR 863 million. The loans were sold by UniCredit Luxembourg S.A., a subsidiary of UniCredit Bank AG, to Geldilux-TS-2013, a Luxembourg special purpose vehicle. Geldilux financed the purchase by issuing six classes of notes.
The transaction is the 12th one under the Geldilux programme, which was originally established in 1999. This reinforces the importance of securitisation for the financing of small and medium sized enterprises.