Hong Kong: Leading international law firm Clifford Chance has advised BOC International, Deutsche Bank, and JP Morgan as joint lead managers on the issue by Hainan Airlines (Hong Kong) Co. Ltd. of US$500 million 3.625% notes due in 2020. The bonds were backed by a RMB denominated standby letter of credit from the Bank of China, one of the few bond deals with this type of credit enhancement.
Hogan Lovells Lee & Lee has advised the mandated lead arrangers on the successful project financing of the Fujairah Oil Terminal in the Middle East.
London: Leading international legal practice Norton Rose’s London funds team underlined their market-leading position in the listed funds market this week as prospectuses published by three funds on Tuesday (19 February) all involved Norton Rose.
The three funds are Greencoat UK Wind plc, TwentyFour Income Fund Ltd and NB Global Floating Rate Income Fund Ltd.
Ashurst advised The Royal Bank of Scotland plc (RBS) on the sale of a German portfolio of first lien residential mortgages over approximately 700 properties throughout Germany to Macquarie Corporate and Asset Finance (CAF).
The portfolio with an aggregate face value of approximately €90 million was held by a Dutch subsidiary of RBS and no longer part of RBS' core business. Macquarie acquired the portfolio through a competitive auction.
The Singapore office of Watson, Farley & Williams LLP ("WFW"), a leading international law firm, is pleased to announce that it has advised DVB Merchant Bank (Asia) Ltd on a US$38,220,000 facility to Vega Corona AS, Vega Crusader AS, Vega Juniz AS and Vega Emtoli AS in order to part finance the acquisition of two platform supply vessels (PSVs) and two oil spill recovery vessels (OSRVs) from Nam Cheong International and Asian Offshore.
Linklaters is advising Japanese financial services firm ORIX Corporation on its €1.935bn acquisition of Dutch asset manager Robeco Groep N.V. from Rabobank. The deal is ORIX’s most significant strategic acquisition to date, as well as the largest Japanese outbound deal of the year to date.
Allen & Overy has advised the joint lead managers (Goldman Sachs and Barclays) on Tesco Plc's sixth credit tenant linked (CTL) CMBS financing, launched by Tesco Property Finance 6 Plc. The financing raised debt in excess of GBP490 million.
For the sixth time Tesco accessed the public debt markets to release value from its UK property portfolio. Allen & Overy has advised the arrangers on all six transactions.
Clifford Chance Paris a conseillé les banques chefs de file (HSBC et Bayerische Landesbank) lors de l'offre de rachat de 96,500,000 euros d'obligations hybrides subordonnées à durée indéterminée par Eurofins Scientific S.E. et de l'émission de 150,000,000 euros d'obligations hybrides subordonnées à durée indéterminée par Eurofins Scientific S.E..
The Corporate Recovery team advised Insetco Plc who presented a winding-up petition against Integeral for non-payment of a costs order. On the first return date of the Petition, Integeral sought and obtained an adjournment for the stated purpose of paying the debt.
Teams from Squire Sanders and DC Advisory have advised Houston-based, Cardtronics, Inc., on its takeover offer for AIM listed, i-design group plc, which was announced to the markets on 13 February.
Cardtronics, listed on NASDAQ with a market capitalisation of $1.2 billion is the world leading provider of Automated Teller Machines (“ATMs”). i-design is a leading provider and developer of marketing and advertising software and service for ATM owners.