Travers Smith corporate partner Richard Spedding and corporate associate Alan Ball have advised long-standing client Investec Investment Bank in its capacity as nominated adviser, broker and sole book-runner to Outsourcery plc in connection with its £34.6m IPO. Admission is expected to take place on AIM on 24 May 2013.
Simmons & Simmons is advising Numis Securities Limited and Peel Hunt LLP as joint bookrunners, and Numis Securities Limited as sponsor, to Main Market listed Primary Health Properties PLC (“PHP”) on its proposed firm placing and placing, open offer and offer for subscription at 315 pence per share to raise gross proceeds of up to £60.0 million.
The fundraising was announced by PHP on 22 May 2013 and is conditional upon shareholder approval and admission of the new shares.
Wragge & Co's energy and infrastructure finance experts have advised Nedbank on a €20 million reserve-based lending facility for Italian exploration and production company, Po Valley Energy.
Slaughter and May advised International Personal Finance plc ('IPF'), a leading international home credit business with a market capitalisation of £1 billion and a FTSE 250 company, on its first public offer and issuance of retail bonds (the 'Bonds'). The sterling-denominated Bonds bear a fixed coupon of 6.125% and will mature in May 2020.
Beijing, Hong Kong: Leading international law firm Clifford Chance has advised the 21 joint bookrunners* on China Galaxy Securities US$1.07 billion IPO on the Hong Kong Stock Exchange. Joint global coordinators for the deal were Goldman Sachs, JP Morgan, China Galaxy International Securities Hong Kong Limited, ABCI Capital Limited and Nomura. The company sold approximately 1.6 billion H shares at HK$5.30 each.
National Bank of Bahrain, Social Insurance Organisation and Military Pension Fund have completed the purchase of The Investment Dar's and associated companies' shareholding of 51.5% in the publicly quoted banking institution Bahrain Islamic Bank.
Ashurst has advised FlexiGroup Limited (FlexiGroup) on the acquisition of Once Credit Pty Ltd (Once Credit) for A$45 million.
Once Credit operates in the interest free and credit card market, providing scale to FlexiGroup's existing Lombard Finance business, acquired in 2012. Ashurst also advised FlexiGroup on that transaction.
Once Credit's primary product is a VISA Card offering to retailers, supported by a strong distribution platform and high quality receivables books.
Ashurst has advised Asian Development Bank ("ADB") and The Siam Commercial Bank Public Company Limited ("SCB") as lenders to two solar power projects in Thailand financed on a limited recourse project finance basis. The financing closed on 11 April 2013.
Each project entails the construction of a 16MW solar power generation plant, with a combined total capacity of 32MW. Bangchak Solar Energy Company Limited, a subsidiary of Bangchak Petroleum Public Company, is the developer of the projects and is the borrower under the facilities.
Herbert Smith Freehills is advising Morgan Stanley and National Australia Bank as joint lead managers and underwriters for Arena REIT’s initial public offering and listing on the Australian Securities Exchange. Arena REIT is one of Australia’s largest owners of child care properties, holding a portfolio valued at over $220 million. It will raise $75 million of new money under the IPO.
The Herbert Smith Freehills team was led by funds M&A partner Justin O’Farrell and executive counsel Lauren Magraith, supported by lawyer Adrian Amer.
Herbert Smith Freehills has advised the Joint Lead Managers of Macquarie Group Limited’s (MGL) offer of new Tier 1 hybrid securities known as Macquarie Capital Notes (MCN), which are fully paid, subordinated, non-cumulative, unsecured, mandatorily convertible notes issued by MGL. The offer raised A$580 million, with the ability to raise more.
MCN are offered at an issue price of $100 and are expected to be quoted on the ASX.