Allen & Overy advised the Export-Import Bank of the United States (US Ex-Im), as lender, in the USD471 million debt financing to Kingsbridge Ltd (Kingsbridge), the holding company of Asia Broadcast Satellite’s (ABS) group of operating companies, for the procurement, construction, launch and operation of three new satellites.
DLA Piper represented Central European Media Enterprises Ltd. (CME) in a series of corporate finance transactions that closed on May 2, including a rights offering fully backstopped by Time Warner, CME’s largest shareholder; the issuance of $400 million of senior secured notes; the redemption of €272,972,000 of senior notes; a $115 million senior secured revolving credit facility; and a $30 million term loan.
Slaughter and May advised BHP Billiton in relation to the refinancing of its existing credit facilities with a new US$6 billion revolving credit facility. The new facility has a five year tenor with two one year extension options. It has been made available by a syndicate of existing and new relationship banks and was coordinated by Deutsche Bank and The Royal Bank of Scotland.
Ashurst Australia advised on Australian law and De Brauw Blackstone Westbroek advised on Dutch law.
CONTACTS
Allen & Overy LLP has advised Bayer AG and Bayer World Investments B.V. with regard to a syndicated loan provided by Bank of America, N.A., BNP Paribas and Mizuho Bank, Ltd., bridging the financing of the acquisition of Merck & Co. Inc.’s consumer care business by Bayer AG for a purchase price of USD 14.2 bn. (EUR 10.4 bn.).
"We are very pleased to have advised Bayer AG in respect of this important financing“ said Allen & Overy Partner Dr. Neil George Weiand.
Dr. Martin Eisenhauer acted as inhouse counsel to Bayer AG.
CMS is advising Wells Fargo Bank N.A. on its funding of the £291 million acquisition by Cirrus Logic, of Wolfson Microelectronics Plc, which was announced yesterday.
Cirrus, which is listed on NASDAQ, is a premier supplier of high-precision analogue and digital signal processing components for audio and energy markets and is a close partner of Apple. Wolfson is a leading UK audio chip designer that supplies audio components in Samsung’s phones and tablets.
Eversheds has advised China Merchants Bank (Hong Kong), on the acquisition financing for the merger takeover and privatisation of ChinaEdu Corporation, a company listed on the NASDAQ exchange.
ChinaEdu Corporation is a leading online educational services provider, and one of the largest service providers for online degree programs in China.
Slaughter and May advised LGC Science Holdings Limited (LGC) on the refinancing of its senior secured banking facilities. The new £153.75 million and EUR 183,519,188 banking facilities, which comprise term loans and a revolving credit facility, are made available to LGC by a syndicate of lenders including The Bank of Ireland, Commerzbank AG, GE Corporate Finance Bank, HSBC, ING Bank and Société Générale as original lenders.
Ashurst advised SEB AG, NIBC Bank N.V. and Bank of Ireland on the financing of the acquisition of bakery chain Dahlewitzer Landbäckerei GmbH (Dahlback) by financial investor Deutsche Beteiligungs AG (DBAG) and one of its funds. The parties have agreed not to disclose financing volume and purchase price. The vendors are private equity firm Steadfast Capital and Volker Schülke, Dahlback's managing partner. Schülke will re-invest in the company and remain in his current role. The transaction is conditional on approval by the cartel authorities.
Slaughter and May advised BBA Aviation on the partial refinancing and amendment of its existing US$750 million revolving credit facilities agreement and its entry into a new US$650 million revolving credit facility agreement.
This transaction completed on 17 April 2014.
CONTACTS
Financing: Peter Jolliffe (partner), Meherzad Bilimoria (associate); Tax: Mike Lane (partner), Gregory Price (associate)
Weil, Gotshal & Manges has advised the lenders to Goldman Sachs Merchant Banking Division who, together with Koch Industries Inc., acquired Luxembourg-based Flint Group, the global supplier of inks and other print consumables, from CVC Capital Partners. Weil advised Deutsche Bank and Morgan Stanley as Lead Arrangers and Deutsche Bank, Morgan Stanley, Goldman Sachs and Barclays as Joint Bookrunners. Completion is scheduled for H1 2014.