DUBAI, 4 June 2017 – Hogan Lovells has advised arrangers on a US$236 million equivalent syndicated dual currency commodity murabaha facility for Ziraat Participation Bank.
Allen & Overy has advised ANZ, Citi, J.P. Morgan, Standard Chartered Bank and SBICAP as joint lead managers (JLMs) in connection with the debut Reg S offering of senior unsecured notes due 2027 by HPCL-Mittal Energy Limited (HMEL). The dollar-denominated 10-year 5.25% bond raised USD375 million for the Indian refiner.
Clifford Chance has advised the Government of the Sultanate of Oman on its return to the international debt capital markets with the establishment of an unlimited sukuk-al-ijara trust certificate issuance programme and a drawdown of US$2 billion trust certificates due 2024 thereunder.
Cravath represented Premier Foods Finance plc in connection with its £210 million 144A/Reg. S high-yield senior secured floating rate debt offering, guaranteed by Premier Foods plc and certain of its subsidiaries. Premier Foods is one of the United Kingdom's largest food producers, engaging in the manufacture, distribution and sale of various branded and non-branded foods. The notes will be listed on the Irish Stock Exchange. The transaction closed on June 5, 2017.
Clifford Chance advised Citigroup Global Markets Inc. in the structuring of an innovative US$350.75 million dual offering of international and local project bonds by Autopistas del Sol, S.A., which operates the Ruta 27 toll road concession – the only project of its kind in Costa Rica. The project operator is owned by Globalvía, the world's second largest transportation infrastructure developer by number of concessions.
Watson Farley & Williams (“WFW”) has advised a syndicate of banks consisting of BMO Capital Markets, BNP Paribas, ANZ Banking Group and Scotia Bank Europe as lenders on a Reserve-Based Lending (“RBL”) Facility with an initial availability of US$100m to the International Petroleum Corporation (“IPC”) for its inaugural financing.
Slaughter and May advised Legal & General on the annual update and amendment of its £4 billion Euro Note Programme. Under the Programme, Legal & General Group Plc have the ability to issue senior Notes and tier 2 or tier 3 subordinated Notes and Legal & General Finance PLC may issue senior Notes guaranteed by Legal & General Group Plc, in each case to be listed and traded on the Main Market of the London Stock Exchange.
DLA Piper has advised Goldman Sachs Bank USA, HSBC Bank plc and Bank of America Merrill Lynch International Limited on their financing of Tottenham Hotspur's new, multi-purpose, 61,500 seat stadium. The financing package consists of a £400,000,000 development term loan and a £25,000,000 revolving credit facility.
The innovative stadium project is one of the biggest projects of its kind in Europe and, once completed, will host NFL games and numerous other events, in addition to being Spurs' new footballing home.
The Hong Kong and London offices of Debevoise & Plimpton LLP have advised Hong Kong-based life insurer AIA Group Limited (AIA) in its $500 million offering in Taiwan of senior unsecured fixed rate notes with a coupon rate of 4.47%. The notes are due in 2047.
The offering is part of AIA’s $6 billion Global Medium Term Note and Securities Programme. The notes will be subject to redemption in whole, but not in part, at the option of AIA on 23 May in each year, beginning 23 May 2022.
The proceeds from the notes will be used for general corporate purposes.
International law firm Simmons & Simmons has advised on the Republic of Italy’s buy-back for the record amount of EUR 4.2bn of its EUR 22.418bn BTP Italia issuance, the largest sovereign bond in Europe to date.
Concurrently to the buy-back, the Republic of Italy placed, through a syndicate, an additional five tranches of BTP and CCTeu in the aggregate amount of EUR 4.2bn.
Banca IMI S.p.A. and UniCredit S.p.A. acted as Dealer Managers and Joint Lead Managers in relation to both the buy-back and the syndicated placement.