Gide has advised Nexity on the implementation of a five-year EUR 2.3 billion syndicated corporate credit facility, expiring in July 2023. This facility comprises a EUR 500 million cash credit line and EUR 1.8 billion in guarantee commitments (engagements par signature, notably including performance bonds and bank guarantees).
Global law firm White & Case LLP has advised Nordea Bank AB (publ), Skandinaviska Enskilda Banken AB (publ) and AB Svensk Exportkredit (publ) on the EUR 405 million financing of Mekonomen Aktiebolag (publ)’s acquisition of FTZ in Denmark and INTER-TEAM in Poland. The acquisition nearly doubles Mekonomen Aktiebolag (publ)'s turnover and strengthens its position in the sale of automotive spare parts in northern Europe and establishes a strong market position in Denmark and Poland, where Mekonomen Aktiebolag (publ) has no current operations.
Law firm Stephenson Harwood LLP has advised ABN AMRO Bank, in its capacity as agent for itself and Norddeutsche Landesbank Girozentrale , on a US$60 million secured loan facility for Scorpio Bulkers Inc.
The facility will be used to re-finance two Ultramax dry bulk vessels – SBI Perseus and SBI Phoebe – and two Kamsarmax dry bulk vessels – SBI Electra and SBI Flamenco – as well as to provide additional liquidity for the group.
A cross-border team from Baker McKenzie has advised PT Perusahaan Listrik Negara (Persero) ("PLN") on a revolving credit facility and a term loan facility at a total value of USD 1.5 billion, with a greenshoe option of up to USD 500 million.
This deal is the first large-scale syndicated offshore financing for the Indonesian state-owned power company. The loan facilities will be used by PLN for capital expenditure and general corporate purposes.
Irwin Mitchell Advises Arbuthnot Commercial ABL
Arbuthnot Commercial ABL has supported Morris Angel & Son Limited (Angels Costumes), the longest-established costumiers in the world, with a £5m asset-based lending facility.
The facility will provide the business with a higher level of working capital to fund its future growth plans, as well as additional headroom to cover the purchase of new stock to meet the seasonal demands of the market.
Hogan Lovells acted for Tanarra Credit Partners as lead counsel on two financing transactions that have closed this week.
The first transaction provided funding to Australian private equity firm Next Capital for the acquisition of iseek Communications, a Brisbane-based data centre business.
The second transaction provided funding to a portfolio company of another Australian private equity firm, CHAMP Ventures' Ansett Aviation Training.
Skadden represented Goldman Sachs International, Cenkos Securities plc and Dean Street Advisers Limited as joint financial advisers to Bain Capital in the approximately £1.2 billion acquisition of esure Group plc, one of the U.K.’s leading providers of motor and home insurance products.
Global law firm White & Case LLP has advised Intesa Sanpaolo, Mediobanca, UniCredit, Banca Nazionale del Lavoro and Banca IMI, as Agents, on a €350 million term and revolving credit facilities financing for Italian fashion company Valentino S.p.A.
The White & Case team in Milan which advised on the transaction comprised partners Iacopo Canino and Gianluca Fanti, associate Bianca Caruso and lawyer Valerio Marotta.
Watson Farley & Williams (“WFW”) advised Hellenic Bank Public Company Limited (“Hellenic Bank”) in relation to a US$50m term facility provided to the First Ship Lease Trust (“FSL”) for the partial refinancing of an originally US$479.5m term facility which was entered into in 2011 and on which WFW also acted as the lender’s counsel.
International law firm Ashurst advised European Investment Bank (EIB) on the €3.5 billion financing for Open Fiber, the broadband company owned by Enel and Cassa Depositi e Prestiti (CDP).
EIB is one of the key lenders of the transaction, participating to the financing with a €350 million ticket.
The credit facilities have a seven year tenor, with Unicredit, Société Générale and BNP Paribas acting as underwriters, global coordinators, global bookrunners, initial MLA and original lenders in syndication with CDP and other banks.