Allen & Overy has advised a banking syndicate in connection with the successful issue of a EUR 500 million green bond by NRW.BANK. The banking syndicate comprised Commerzbank Aktiengesellschaft (technical lead) and HSBC Trinkaus & Burkhardt AG.
Global law firm White & Case LLP has advised a syndicate of lenders to Petrolera Cárdenas Mora, S.A.P.I. de C.V., a wholly owned subsidiary of the Egypt-based Cheiron Petroleum Corporation, on the first-ever reserve-based lending transaction in respect of upstream oil & gas assets located in Mexico. Cheiron Petroleum Corporation is a leading independent exploration and production company focused on the development of mature oil & gas fields with upside potential.
Global law firm Norton Rose Fulbright has advised DVB, the transportation finance division of DZ Bank AG, on the sale of its aviation finance group to Japan’s Mitsubishi UFJ Financial Group (MUFG) and its affiliated leasing operation BOT Lease (BOTL).
Under the purchase agreement, the entire aviation client lending portfolio of DVB Bank will be transferred to MUFG. DVB Bank’s aviation investment management and asset management businesses will be transferred to BOTL. The transaction is expected to close during the second half of 2019.
Global, sector-focused law firm HFW has advised the mandated lead arrangers and coordinating bookrunners on a secured US$725 million revolving credit facility for Sweden's Stena AB.
HFW acted for Handelsbanken Capital Markets, Svenska Handelsbanken, Nordea Bank, Skandinaviska Enskilda Banken, and Swedbank on the transaction, which represented a refinancing of Stena's existing US$800 million revolving credit facility.
The new facility has a five year maturity and is provided by a syndicate of 12 lenders.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising DVB Bank SE (‘DVB’), on the sale of its Aviation Finance business to MUFG Bank, Ltd (‘MUFG’). The purchase agreement provides for the sale of the entire €5.6bn portfolio, which includes the transfer of employees and the operating infrastructure to MUFG. The transaction also provides for the transfer of the Aviation Investment Management and Asset Management business to BOT Lease Co., Ltd.
Jones Day advised Landesbank Baden-Wurttemberg (LBBW), a universal bank and the central bank of the savings banks in Baden-Württemberg, Saxony, and Rhineland-Palatinate in Germany, on its pilot project regarding the blockchain-based issuance and redemption of asset-backed commercial paper (ABCP). The securities were issued by Weinberg Capital DAC as issuer vehicle under the securitization program sponsored by LBBW. Moody's and Fitch, appointed rating agencies for the program, accompanied the project and confirmed the rating of the program.
Global law firm White & Case LLP has advised the Industrial and Commercial Bank of China on its €846 million dual tranche acquisition bridge financing for a consortium led by Jin Jiang International Holdings Co.
CMS advised the shareholders of agta record on the sale of their majority stake in agta record to the Swedish group Assa Abloy
International law firm Ashurst has advised a consortium of banks as lenders (Banca IMI, BNP Paribas Italian Branch, Crédit Agricole Corporate and Investment Bank - Milan Branch, ING Bank - Milan Branch and Cassa Depositi e Prestiti as Lender, Mandated Lead Arranger, and Bookrunner and UniCredit S.p.A. as Agent, Intesa SanPaolo, BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank and UniCredit S.p.A.
Leading corporate law firm Hill Dickinson has advised Manchester-based Praetura Commercial Finance in securing a multimillion-pound investment. The independent asset based lender is backed by Praetura Group, a provider of alternative debt and equity solutions to UK SMEs. Under the terms of the deal, RM Funds, the investment arm of RM Secured Direct Lending (RMDL), has placed an initial £2 million investment in a bespoke five-year loan note programme, with a flexible funding line of up to £10 million for future growth.