Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has advised both export finance bank KfW IPEX-Bank and The Export-Import Bank of China on a US$75m term loan facility to J. Lauritzen A/S.

The loan will be used to part-finance the acquisition of three 50,200 dwt chemical/product oil tankers under construction at Guangzhou Shipyard, China and for delivery to J. Lauritzen A/S's product tanker group. 

Shanghai: Leading international law firm Clifford Chance has advised Banco Santander on its establishment of an independent auto financing joint venture with Chinese automobile manufacturer Anhui Jianghuai Automobile Co. (JAC) with an initial capital of around US$80 million. The joint venture, Fortune Auto Finance Co, recently received approval from the China Banking Regulatory Commission. Santander and JAC each have a 50% stake in the company.

Partner Sylvia Kierszenbaum, senior associate Willem Van de Wiele and associate Steven De Jonghe have advised the dealers on the establishment of the EUR10 billion Belgian Mortgage Pandbrieven Programme of Belfius Bank.

The team advised on the inaugural issue of the EUR1.25 billion Mortgage Pandbrieven 1.25% covered bond due in November 2017.

International legal practice Norton Rose has advised Citibank International Plc (CIP), a subsidiary of Citigroup Inc., on regulatory law aspects in regard to their acquisition of a minority stake in iSwap. The inter-dealer platform for the trading of interest rate derivatives, iSWAP was launched in 2010 by ICAP as an electronic trading platform for over the counter (OTC) derivatives. It was one of the first electronic inter-dealer Euro interest rate swap trading platforms.

Advised Banca IMI S.p.A. as arranger in the structuring and documentation of €500 million securitisation deal of fondiari and ipotecari residential mortgage loans originated by Cassa di Risparmio di Asti S.p.A.

Corporate partner Richard Spedding is advising Investec Bank plc and Panmure Gordon (UK) Limited on the £24.2m placing by Dignity plc announced today.

The placing proceeds will be used to part fund the £58.3m acquisition of Yew Holdings Limited, comprising 40 funeral locations and two crematoria in the North of England. Investec and Panmure Gordon have fully underwritten the placing.

Richard is assisted by senior corporate associate Daniel Simons.  US Securities law advice has been provided by US partner Charles Casassa and senior associate Dan McNamee.

Hong Kong: Leading international law firm Clifford Chance has advised International Finance Corporation (IFC) on its subscription for 14.9% of the issued share capital of Peak Reinsurance Holdings at an aggregate subscription price of US$81,950,000. The firm also advised IFC on regulatory issues pertaining to the licensing requirements of the Insurance Authority of Hong Kong.

Linklaters has advised the lenders on the Western High-Speed Diameter Project (WHSD) in Saint Petersburg - Russia's first city-based toll road and the largest PPP project in Russia to date.

The project includes construction of the central section and subsequent operation of northern, central and south sections of the toll road in Saint Petersburg on the basis of a public private partnership agreement. The road will reduce traffic pressure on urban highways by redirecting traffic flows. The total value of project financing is €1.5bn.

International legal practice Norton Rose has advised Gatehouse Bank, the London based Shariah compliant investment bank, on its UK real estate based sukuk, the first sukuk of its kind to be issued in the UK.

The London office of Norton Rose advised Gatehouse Bank on the sukuk, which has an innovative structure involving an ijara (lease) with a sale and purchase undertaking that gives noteholders recourse to Gatehouse Bank in addition to security over the sukuk asset, in effect acting as an Islamic covered bond.

Slaughter and May advised the European Investment Bank ('EIB') on the amendment and restatement of a EUR 200 million term loan to Vestas Wind Systems A/S ('Vestas').