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Banking & Finance - Bank Lending/Credit Facilities

InterXion’s €1 Billion Notes Offering and Entry into a €200 Million Revolving Credit Facility

26 Jun 2018

Shearman & Sterling advised Merrill Lynch International as global coordinator and ABN AMRO, Barclays, Citigroup and Crédit Agricole as joint bookrunners on InterXion's offering of €1,000,000,000 4 ¾ % senior notes due 2025. The firm also advised ABN AMRO, Bank of America, Barclays, Citigroup and Crédit Agricole as arrangers in connection with a new €200 million revolving credit facility made available to InterXion.

Allen & Overy advises Siemens Gamesa on its billion-euro debut in the syndicated credit market

22 Jun 2018

Allen & Overy LLP has advised Siemens Gamesa Renewable Energy S.A. ("Siemens Gamesa") on concluding a EUR 2.5 billion syndicated loan.

This is the first transaction in the syndicated credit market for Siemens Gamesa.

The syndicated loan replaces a EUR 750 million credit facility dating from 2017 and is to serve general corporate purposes and the refinancing of existing debt.  The financing includes a EUR 2 billion revolving credit facility due in 2023 with two extension options of one year each and a EUR 500 million credit facility due in 2021.

Norton Rose Fulbright advises on S$800 million syndicated facility for South East Asia’s leading ride-hailing company Grab Inc.

21 Jun 2018

Global law firm Norton Rose Fulbright has advised The Hongkong and Shanghai Banking Corporation (HSBC) and the lenders on an English law governed S$500 million senior secured term loan syndicated facility for Southeast Asia’s leading ride-hailing company Grab Inc.

The financing is scalable with a potential upsize to S$800 million. The deal was oversubscribed, with a total of 16 bank and non-bank financial institutions participating.

HSBC was structuring advisor, mandated lead arranger, and bookrunner on the deal.

Herbert Smith Freehills advises Reliance Worldwide Corporation on its acquisition of John Guest in the UK and associated equity raising and debt financing in Australia

18 Jun 2018

Herbert Smith Freehills has advised Reliance Worldwide Corporation Limited (RWC) on its GBP687.5 million (A$1.22 billion) acquisition of John Guest Holdings Limited (John Guest) in the UK, as well as the Australian equity and debt financing arrangements for the acquisition.

RWC is a leading global manufacturer and supplier of premium-branded engineered water delivery, control and optimisation products and solutions for residential and commercial plumbing applications and is the leading manufacturer in the world of brass push-to-connect (PTC) plumbing fittings.

Ashurst advises Ares Management on financing the acquisition of Finanzen Group

18 Jun 2018

International law firm Ashurst advised debt fund Ares Management Limited (Ares) as arranger in relation to the financing of the acquisition of finanzen de Vermittlungsgesellschaft für Verbraucherverträge AG (Finanzen) by a company associated with Eli Global from French private equity firm Blackfin Capital Partners and Finanzen's founders.

CMS advises on financing of LoopUp Group plc acquisition of MeetingZone

12 Jun 2018

CMS has advised on the arrangement of bilateral senior debt facilities to support LoopUp in its acquisition of conferencing services provider MeetingZone. The acquisition, which is worth around £61.4m, constitutes a reverse takeover.

LoopUp is a premium remote meetings solution that makes it easier to collaborate in real time. Its acquisition of MeetingZone supports its mission to transition mainstream conference callers away from ‘dialling in’ with phone numbers and access codes to a better, more productive remote meeting experience.

WFW advises PSA Sines on Portuguese container terminal refinancing

11 Jun 2018

Watson Farley & Williams LLP (“WFW”) advised PSA Sines – Terminais de Contentores S.A. (“PSA Sines”) in connection with a  term and revolving credit facility made available to it by a syndicate of four Portuguese banks led by Banco BPI S.A. as agent. The facility was made available to PSA Sines for the purpose of refinancing its container terminal at the port of Sines which, handling 1.69 MTEUs in 2017, is the largest of its kind in Portugal.

Slaughter and May advised Premier Foods plc on the extension of approximately £177,000,000 of its existing revolving credit facility

08 Jun 2018

Slaughter and May advised Premier Foods plc (Premier Foods) on the extension of approximately £177,000,000 of its existing revolving credit facility with its lending syndicate from December 2020 to December 2022, effective on the satisfaction and discharge of existing senior secured fixed rate notes (which occurred on 4 June 2018).

ChemChina Completes US$5.5 Billion Refinancing

07 Jun 2018

The Firm recently represented China National Chemical Corporation (“ChemChina”) on a US$5.5 billion syndicated refinancing (the “Refinancing Facilities”). The Refinancing Facilities paid off the outstanding amounts under the US$12.7 billion holdco acquisition facility entered into in connection with ChemChina’s acquisition of Swiss agrochemical and seeds company Syngenta AG, on which Simpson Thacher also represented. The Refinancing Facilities were fully underwritten by more than 15 financial institutions.