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Banking & Finance - Bank Lending/Credit Facilities

SH advises on incadea plc's acquisition and placing

18 Feb 2014

Stephenson Harwood LLP has advised incadea plc, a leading provider of enterprise software and services to the global automotive dealership industry, on the acquisition of RC Real Business Solutions GmbH ("RCRBS") for €12.5 million in cash (the "Acquisition") together with an associated placing by the Company's nominated adviser and joint broker, Cenkos Securities plc, of 11,100,000 Ordinary Shares at a Placing Price of 104 pence each to raise £11.5 million before expenses (the "Placing"). N+1 Singer is also acting as joint broker on the Placing.

Herbert Smith Freehills advises international consortium on acquisition of United Dairy Power

13 Feb 2014

Herbert Smith Freehills has advised a consortium of international private investors, led by Hong Kong based businessman Mr William Hui, in its acquisition of United Dairy Power Group, Australia’s largest privately-owned dairy processor and supplier. The acquisition completed on 31 January 2014.

Melbourne-based partner Michael Ziegelaar led the Herbert Smith Freehills team advising on acquisition strategy and documentation. Michael was supported by senior associate Kam Jamshidi and solicitor Alex MacKinnon.

Ashurst advises Lundin Petroleum on increase of credit facility to US$4 billion

12 Feb 2014

Ashurst has advised Lundin Petroleum on the increase of its US$2.5 billion credit facility to US$4 billion with its existing group of 25 banks. The increased credit facility has been secured on similar terms to the existing facility. The credit facility will provide the necessary financial flexibility to fund the ongoing development, exploration and appraisal programmes including the Johan Sverdrup development in the Norwegian North Sea. The Lundin RBL is now believed to be the largest RBL ever arranged for an upstream oil and gas company in the European market.

Paul Hastings Represents Banks on SeaStar Solutions Financing

07 Feb 2014

New York, NY-- Paul Hastings LLP, a leading global law firm, represented RBC in connection with a credit facility consisting of term loan and revolver commitments to Marine Acquisition Corp. (d/b/a SeaStar Solutions),  the leading global provider of OEM and aftermarket products and accessories for the recreational marine and related markets.

Corporate partner Michael Baker led the Paul Hastings team, which also included associates Seth Chandler, Mitchell Zuckerman and Katie Forer.

Clifford Chance advises Deutsche Bank on a EUR 3 billion credit facility extended to HeidelbergCement

04 Feb 2014

Clifford Chance has advised Deutsche Bank Luxembourg S.A. on a EUR 3 billion syndicated credit facility for HeidelbergCement AG. The facility comprises a new five-year revolving credit line which extends the maturity date of its existing EUR 3 billion credit facility to 2019.

The Clifford Chance comprised partner Dr. Bettina Steinhauer, senior associate Andreas Seip and associate Dr. Ana-Maria Stanescu (all Banking & Capital Markets, Frankfurt) and partner Jay Gavigan and associate John Ford (both Banking & Finance, New York).

Linklaters advises Corporacion Andina de Fomento on US$237.5m A/B loan

04 Feb 2014

Linklaters LLP represented Corporacion Andina de Fomento, a Latin American multilateral development bank, in connection with a US$237.5m A/B structured loan under New York law to Pan American Energy LLC, Argentine Branch, the second largest producer of oil and gas in Argentina. The B Loan tranche was participated by CAF to a syndicate of lenders, comprised of ICBC, Credit Agricole, Natixis and Banco Itaú.

Latham & Watkins Advises on Loan to German Car Parts Retailer ATU Group

03 Feb 2014

Latham & Watkins has advised independent finance company HayFin Capital Management LLP (Hayfin) on its €75 million loan to Auto-Teile-Unger (A.T.U.) Group, a German car parts retailer. A.T.U. Group has just recently completed a restructuring of its financial obligations and equity structure under the UK administration process.

Paul Hastings Represents General Electric Capital Corp. in Senior Credit Facility for Shop Vac Corporation

31 Jan 2014

Paul Hastings LLP, a leading global law firm, announced today that it represented General Electric Capital Corporation, as agent and sole lender in connection with a $70 million senior credit facility for Shop Vac Corporation, a leading manufacturer of wet/dry vacuum cleaners. The credit facility will be used for working capital and general corporate purposes, and to support the company’s international growth.

Leveraged Finance partner Mario J. Ippolito led the Paul Hastings team, which also included associate Tahira Prince.