Shearman & Sterling advised BofA Merrill Lynch, Barclays, Credit Suisse, Goldman Sachs International and KKR as initial purchasers of KIRS Group’s £806 million equivalent high yield bond offering.

The offering comprised £400 million of 8.375% senior secured notes due 2023 and $520 million of 8.625% senior secured notes due 2023. The proceeds of the offering will be used to refinance existing debts and finance the acquisition of certain targets in the UK insurance industry.

Shearman & Sterling advised Deutsche Bank, J.P. Morgan and Bank of China as joint global coordinators, joint lead managers and joint bookrunners, and UBS, ICBC, Standard Chartered Bank, Natixis and CCB International as joint lead managers and joint bookrunners, on the offering of €650 million 1.3% guaranteed notes due 2024 by Three Gorges Finance II (Cayman Islands) Limited. The notes were guaranteed by China Three Gorges Corporation and were listed on the Irish Stock Exchange.

We advised M-Brain Oy, a leading media, market and competitive intelligence services and tools provider, in the refinancing of its EUR 15 million senior secured bond.

We advised Nortal AS, a leading Estonian multinational strategic change and technology company, in its EUR 15 million bond issue. Nortal is an ambitious fast-growing company that has expanded to the United States, United Arab Emirates and Sweden within the last year.

New York, 26 June 2017 – Hogan Lovells represented the Republic of Ecuador in raising a US$2 billion in bond offerings to international investors. The offerings included a US$1 billion six-year bond priced at a yield of 8.75% and a US$1 billion 10-year bond that came at 9.625%.

Shearman & Sterling acted as legal advisor to Nuovo Trasporto Viaggiatori S.p.A. (“NTV”) in connection with NTV’s Rule 144A and Regulation S €550 million senior secured high yield bond offering. NTV also entered into a new credit facilities agreement for an aggregate amount of €160 million split between a term loan and a revolving credit facility, and secured on a pari passu basis by the same collateral securing the notes.

MUNICH, June 26, 2017 – The international law firm Milbank, Tweed, Hadley & McCloy LLP advised Axel Springer SE on its successful Schuldschein issuance and exchange offer for existing Schuldschein loans of Axel Springer with a total volume of 635.5 million euros. Bayerische Landesbank, DZ BANK AG, Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and Landesbank Baden-Württemberg acted as joint lead managers on the transaction.

King & Wood Mallesons (KWM) has advised one of Australia’s largest listed residential land developers, Peet Limited, on its offering of ‘simple corporate bonds’, with the group seeking to raise $50 million.

Simmons & Simmons has advised CYBG PLC on the establishment of its £10 billion Global Medium Term Note Programme and on the issuance of £300 million Fixed-to-Floating Rate Senior Notes due 2025. This is the first senior bond issuance by CYBG PLC and the Senior Notes are intended to count towards CYBG’s MREL requirements.

International law firm Simmons & Simmons has advised CYBG PLC on the establishment of its £10 billion Global Medium Term Note Programme and on the issuance of £300 million Fixed-to-Floating Rate Senior Notes due 2025. This is the first senior bond issuance by CYBG PLC and the Senior Notes are intended to count towards CYBG’s MREL requirements.