Allen & Overy has advised Stonepeak Infrastructure Partners on the financing aspects of its acquisition of a majority interest in euNetworks. The transaction is subject to customary closing conditions.
euNetworks owns and operates dense fibre based metropolitan networks in 14 cities, connected by an intercity backbone covering 49 cities in 15 countries. These networks directly connect into over 300 data centres and more than 1,300 further cell towers, cable landing stations and enterprise buildings.
 

Shearman & Sterling advised Landesbank Baden-Württemberg on the financing of the acquisition of Erdo Group by Deutsche Private Equity GmbH (DPE). DPE purchased a majority stake of Erdo to facilitate further international expansion of the business.

Erdo is a leading provider of roofing, cladding and lightning protection installations, with a focus on the maintenance and renovation market. Erdo serves customers from various end markets in the Netherlands, Germany and Belgian Flanders.

Allen & Overy LLP has advised SAP SE on a EUR 2.5 billion syndicated revolving credit facility.  SAP will use this credit facility to replace an existing EUR 2.0 billion credit facility granted in November 2013. The existing facility was refinanced early in view of the currently favourable market environment.

The new credit facility, which has a term of five years with extension options for up to two years in total, was entered into on further improved terms.

Global law firm White & Case LLP has advised BNP Paribas, HSBC France, ING Bank N.V., French Branch and Natixis, as mandated lead arrangers and bookrunners, as well as mandated lead arrangers, arrangers and lenders, on €600 million syndicated loan facilities for Elis.

The facilities include senior term and revolving facilities and will be used by Elis to improve its financial profile and partially refinance the existing bridge term facility agreement that was entered into relation to its acquisition of Berendsen.

Slaughter and May advised Sasol Limited, the South African chemicals and energy company, on the refinancing of its existing US$1.5 billion revolving credit facility and various bilateral credit facilities.  Sasol launched the transaction with a targeted facility size of US$3.0 billion, which was subsequently increased to US$3.9 billion, reflecting notable oversubscription by the bank group.  The new revolving credit facility has an initial maturity of five years, subject to two extension options of one year each. 

Leading international law firm Clifford Chance advised WTT Investment Ltd, which conducts its business through its wholly owned subsidiary, WTT HK Limited (previously Wharf T&T, WTT), a fixed-line telecommunication services operator in Hong Kong, on refinancing of existing acquisition facilities by issuing a 144A/Reg S high yield bond. WTT was acquired in 2016 by leading private equity funds, MBK Partners and TPG Capital, who currently jointly own WTT group. The US$670 million senior notes offering due 21 November 2022 will pay a fixed coupon of 5.5% per annum.

Slaughter and May advised the Central Bank of Egypt on its $3.1 billion repurchase transaction with a consortium of international banks.

The consortium’s financing was provided against Arab Republic of Egypt dollar-denominated sovereign bonds, which are listed on the Irish Stock Exchange.

Contacts

Ed Fife (partner), George Silber (associate)

Schulte represented UBS AG, Stamford Branch, as administrative agent, and UBS Securities LLC, as sole lead arranger, for the amendment and restatement of the existing first lien credit agreement of ION Trading Technologies S.à r.l. and ION Trading Finance Limited. After giving effect to the amendment and restatement, the first lien credit facilities consist of a seven-year $255-million U.S. dollar-denominated term loan, a seven-year €1.048-billion euro-denominated term loan and a five-year €15-million revolving credit facility.

Schulte represented UBS AG, Stamford Branch, as administrative agent, and UBS Securities LLC, as sole lead arranger, in the amendment and restatement of the existing first lien credit agreement of Wall Street Systems Delaware, Inc. After giving effect to the amendment and restatement, the first lien credit facilities consist of a seven-year $270-million U.S. dollar-denominated term loan, a seven-year €417-million euro-denominated term loan and a five-year $15-million revolving credit facility.

Shearman & Sterling advised Silverfleet Capital on financing matters in connection with the sale of Competence Call Center Holding GmbH (CCC), one of Europe’s leading call center operators. Closing of the transaction is subject to regulatory approval.

Headquartered in Berlin, CCC has grown to become the market leader in Germany, Austria and Switzerland, operating from 18 locations across eight countries and employing over 5,500 staff. The company provides outsourced customer care and Business Process Outsourcing (BPO) services in 28 languages.