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Banking & Finance - Bank Lending/Credit Facilities

Davis Polk Advises Ford Motor Company on Its $13.4 Billion Amended and Restated Revolving Credit Facility

07 May 2015

Davis Polk advised Ford Motor Company in connection with the April 30, 2015, amendment and restatement of its existing revolving credit facility. As a result of the amendment and restatement, the maturity of the existing revolving commitments was extended from April 30, 2017 and April 30, 2019, to April 30, 2018 and April 30, 2020, respectively, and additional commitments, maturing either April 30, 2018 or April 30, 2020, were provided, for an aggregate total of such revolving commitments of approximately $13.4 billion.

Shearman & Sterling Advises on the Increase of the US/European Term Loan B Financing for the INEOS Group

05 May 2015

Shearman & Sterling advised Barclays Bank PLC and J.P. Morgan Limited as joint global coordinators, lead arrangers and bookrunners, and Citigroup Global Markets Inc., Merrill Lynch Pierce Fenner & Smith Incorporated and Morgan Stanley Senior Funding, Inc. as co-arrangers and co-bookrunners in connection with the addition of an incremental senior secured term facility to its existing cross-border, multicurrency and covenant lite Term Loan B bank financing for certain affiliates of INEOS AG, one of the world's largest chemical companies by revenue.

DLA Piper (Canada) LLP Advises Altus Group as it Amends and Expands Senior Credit Facility to $200 Million

30 Apr 2015

Altus Group Limited (“Altus Group”) amended and expanded its revolving credit facility to increase its borrowing capacity from $159.7 million to $200 million (the “Facility”), which will further strengthen Altus Group’s growth strategy.

The co-leads for the Facility are Bank of Montreal and National Bank of Canada, and the syndicate includes HSBC Bank of Canada and the Toronto-Dominion Bank.

Headquartered in Canada, Altus Group is a leading provider of commercial real estate services, software and data solutions.

Noerr advises NORD/LB on financing of corporate takeovers

24 Apr 2015

Noerr has advised NORD/LB in connection with the financing of two corporate transactions. The deals involved the acquisition by private equity company WHEB Partners’ Growth Fund 2 of all shares in Dolan GmbH and the acquisition by investor Dr Jan Verdenhalven of all the shares in the Kelheim-based company European Carbon Fiber GmbH. The sellers are the Austrian Lenzing Group and Kelheim Fibres GmbH.

Stibbe advises PostNL

20 Apr 2015

Stibbe advises PostNL in connection with a new five-year EUR 400 million multicurrency revolving credit facility, including two one-year extension options.

This facility will replace the former EUR 570 million multicurrency revolving credit facility, which was originally due for re-financing in 2016. Benefitting from current favourable market conditions, PostNL secured access to committed future financing capacity in line with its financing strategy at reduced financing costs and updated terms and conditions.

Team: Egbert Vroom, Joannes de Bont

Syndicated Senior Secured Credit Facilities to Resorts World at Sentosa Pte Ltd

15 Apr 2015

Angela Lim, Tan Shu Fern and Sarah Ooi from the Banking & Finance Practice Group acted for Resorts World at Sentosa Pte Ltd ("RWS") and Genting Singapore in a S$2.27 billion syndicated senior secured credit facilities to RWS.

The facilities will be utilised primarily for refinancing RWS's existing facilities of S$4.1925 billion obtained in 2011. The five-year facilities comprise a S$1.75 billion syndicated term loan facility, a S$500 million syndicated revolving credit facility and a S$20 million bank guarantee facility, provided by DBS Bank and OCBC.

Shearman & Sterling Advises on Financing of Acquisition of JM Bruneau

08 Apr 2015

Shearman & Sterling advised Crédit Agricole Corporate & Investment Bank (CACIB) as arranger, agent and lender on the financing arrangements for the acquisition of JM Bruneau by Weinberg Capital Partners from Argosyn, a jointly controlled entity of German retail group Otto and the Mulliez’ family.

The financing arranged by CACIB includes acquisition loans available to the acquiring entity and a revolving credit facility available to this entity, JM Bruneau and the group's subsidiaries.

Advising Macquarie Group on £250m+ Acquisition Financing and Securitisation

07 Apr 2015

Simmons & Simmons LLP has advised Macquarie Group's Commodities and Financial Markets group in connection with the acquisition by Bluestone Group of the UK mortgage lending and servicing platform, Basinghall Finance Ltd.

Macquarie provided the finance used by Bluestone Group to fund the acquisition in December 2014 and subsequently provided the structuring and distribution expertise in connection with two capital markets refinancings:

Wragge Lawrence Graham & Co advises Harworth Estates on £65 million refinancing

07 Apr 2015

Wragge Lawrence Graham & Co's Banking and Finance sector has advised Harworth Estates Property Group Limited on its £65 million refinancing of its group banking facilities.

The company's new revolving facility with The Royal Bank of Scotland plc (RBS) creates a senior financing platform on more appropriate commercial terms to the business, allowing it to progress its objectives in developing its strategic sites across the North of England and the Midlands.