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Finance & Banking

Clifford Chance advises BNP Paribas Securities Services on the acquisition of Commerzbank's "Depotbank" business

29 Jul 2013

Clifford Chance advised BNP Paribas Securities Services on the acquisition of Commerzbank’s “Depotbank” business. The parties agreed that confidentiality be maintained on the contractual details. The transaction is still subject to the approval of the relevant authorities.

BNP Paribas Securities Services acquires activities of the "Depotbank" comprising the German domiciled UCITS, institutional funds, securities funds as well as open-ended real estate funds. As of the end of April 2013, a volume of approximately EUR 93 billion assets under depositary was serviced by Commerzbank.

Simmons & Simmons Advises Marlin Financial on Debut High Yield Bond Offering and Revolving Credit Facility

26 Jul 2013

Simmons & Simmons has advised Marlin Financial Group Limited on the issuance of its £150 million Reg S/144A high yield senior secured bonds and entry into a £25 million new revolving credit facility.

The issuance will enable Marlin Financial, one of the leading purchasers of defaulted consumer debt in the United Kingdom, to refinance the company’s existing indebtedness and fund future debt purchase transactions. Marlin Financial is a portfolio company of Duke Street.

IFFIm - issuance of US$700,000,000 floating rate notes

26 Jul 2013

Slaughter and May advised International Finance Facility for Immunisation Company ('IFFIm') on its issuance of US$700,000,000 Floating Rate Notes due 2016 (the 'Notes') pursuant to its Global Debt Issuance Programme. The Notes provide investors with an opportunity to fund immunisation programmes by the GAVI Alliance, helping protect millions of children in the world's poorest countries against preventable diseases.

Macfarlanes advises HayFin on raising its €1.4bn Special Opportunities Credit Fund

25 Jul 2013

Macfarlanes has advised HayFin, a credit financing provider, on the raising of its Special Opportunities Credit Fund, which has closed with total commitments of approximately €1.4bn.

The fund will invest opportunistically in both directly originated and existing debt instruments, predominantly senior secured loans and other non-control investments exhibiting a level of complexity.

Clifford Chance advises banks on a EUR 2.5 billion credit facility granted to Linde AG

24 Jul 2013

Clifford Chance advised a syndicate of international banks on a EUR 2.5 billion revolving credit facility for Linde AG with a term of five years, including extension options for up to two additional years.

The facility is available for general corporate purposes and replaces its existing EUR 2.5 billion credit facility of May 2010 prior to its maturity.

Field Fisher Waterhouse advises on $26m placing and fundraising on AIM

24 Jul 2013

Field Fisher advised Mirabaud Securities LLP, as broker and sole bookrunner, in relation to a $20m placing by Lekoil Limited on the London Stock Exchange's AIM Market (AIM).

The transaction is a secondary placing of new ordinary shares in Lekoil Limited which will take place in two tranches. The second tranche is conditional on passing restrictions at the Lekoil Limited's Extraordinary General Meeting, which is convened for 7 August 2013 .

Hogan Lovells Advises on £300M Clean Energy IPO

24 Jul 2013

Hogan Lovells has advised Canaccord Genuity Ltd and Jefferies International Ltd in their role as joint sponsors and bookrunners in relation to the planned initial public offering (IPO) of The Renewables Infrastructure Group Limited (TRIG), the biggest clean energy flotation in London so far this year, announced today, Wednesday 24 July.

TRIG, a newly incorporated Guernsey-based investment company, is seeking to raise £300 million by way of a placing and offer for subscription of shares on the Main Market of the London Stock Exchange.

Ashurst advises UniCredit and Natixis on the financing of the acquisition of Hallen am Borsigturm shopping centre

23 Jul 2013

Ashurst has advised UniCredit Bank AG ("UniCredit") and French investment bank Natixis on the financing of the acquisition of the "Hallen am Borsigturm" shopping centre in Tegel, Berlin, by ECE European Prime Shopping Centre Fund. The seller is Vernal Asset 2BV belonging to Whitehall. The shopping centre has a sales area of 22,000 sqm, an office area of 15,000 sqm, an area of approx. 7,500 sqm for a hotel and 5,000 sqm for a cinema.

Clifford Chance advised J.P. Morgan and Morgan Stanley which acted as global coordinators for the €660.6 million capital increase of Erste Group Bank AG

23 Jul 2013

Clifford Chance advised J.P. Morgan and Morgan Stanley which acted as global coordinators for the issuance of new shares in connection with a €660.6 million capital increase of Erste Group Bank AG. The new shares were issued as part of a subscription rights offer to existing shareholders of Erste Group Bank AG and in private placements to institutional investors in European countries, the United States of America and elsewhere.