Shearman & Sterling advised Credit Suisse, China CITIC Bank International, BOC International and Deutsche Bank as dealer managers in connection with Kaisa Group Holdings Ltd.’s exchange offer of approximately US$2.7 billion aggregate principal amount of newly issued 7.25% senior notes due 2020, 7.875% senior notes due 2021, 8.50% senior notes due 2022 and 9.375% senior notes due 2024 (Notes), in exchange for any and all of its outstanding Series A variable rate senior notes due 2019,  Series B variable rate senior notes due 2020, Series C variable rate senior notes due 2020,

Shearman & Sterling represented BNP Paribas, HSBC Bank plc, Crédit Agricole Corporate and Investment Bank, Société Générale, UniCredit Bank AG, Crédit Industriel et Commercial S.A. and ODDO BHF SCA, as initial purchasers on CMA CGM’s €650 million 6.500% senior notes due 2022.

The net proceeds of the offering, which closed on July 13, 2017, will be used to redeem all of CMA CGM’s outstanding €300 million 8.750% senior notes due 2018 and other outstanding indebtedness.

Shearman & Sterling represented Ardagh Packaging Finance plc and Ardagh Holdings USA Inc., as co-issuers, both subsidiaries of Ardagh Group S.A. (Ardagh), on their offering of £400 million 4.750% Senior Notes due 2027 (the “Notes”).  The Notes are guaranteed by Ardagh Group S.A. as parent guarantor and will be guaranteed by certain of its wholly owned subsidiaries.

Global law firm White & Case LLP has advised Olympique Lyonnais (OL), a French Ligue 1 football club, on the refinancing of its stadium Parc Olympique Lyonnais, which was launched in January 2016, and the group’s bank and bond debt.

Green Bond exceeded expectations with oversubscribed book printing €300m instead of €200m

Herbert Smith Freehills is pleased to have acted for Australia and New Zealand Banking Group Limited, ANZ Bank New Zealand, The Hongkong and Shanghai Banking Corporation Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Westpac Banking Corporation and Westpac New Zealand Limited as Australian counsel in relation to the A$500 million refinancing of Bapcor Limited’s existing debt facilities.

International law firm Simmons & Simmons has advised BNP Paribas, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank, Credit Suisse Securities (Europe) Limited, Lloyds Bank plc and UBS Limited as managers on an issuance of U.S.$750m Perpetual Fixed Spread Callable Notes by Demeter Investments B.V. which are secured by, among other things, a facility agreement entered into with Swiss Re Ltd and up to U.S.$750m Perpetual Subordinated Fixed Spread Callable Loan Notes of Swiss Re Ltd.

Herbert Smith Freehills has advised BHP on a complex US$634 million refinancing in relation to the Newcastle Coal Infrastructure Group (NCIG) coal export terminal.

Located on the Hunter River in the Port of Newcastle, New South Wales, the NCIG coal export terminal is one of Australia’s leading coal export facilities. NCIG is owned by a number of resources companies including BHP, Yancoal, Whitehaven Coal, Peabody Energy and Centennial Coal.

Linklaters advised the Bond Connect Company and the Hong Kong Exchanges and Clearing Limited (HKEx) on the establishment of Bond Connect between Mainland China and Hong Kong. The Bond Connect programme marks yet another major milestone in mutual market access between Mainland China and the outside world following the hugely successful and innovative China-Hong Kong Stock Connect project which allows much greater access to the equities market.

Slaughter and May advised The 1st Stop Group Limited, a specialist consumer finance provider and a portfolio company of funds managed by Pollen Street Capital, on the refinancing of its existing facilities. The new financing takes the form of warehouse facilities provided to 1st Stop Funding No. 2 Limited, including a £75 million senior facility and mezzanine and junior facilities, and borrowing base facilities provided to 1st Stop Funding Limited, including a £35 million senior facility and a second lien facility.