Allen & Overy has advised the joint lead managers on the Reg S USD500 million high-yield bond offering by JSW Steel Limited. JSW Steel Limited is an Indian manufacturer of a diverse range of steel products with an export presence in more than 100 countries. The joint lead managers consisted of Credit Suisse Securities (Europe) Limited, Citigroup Global Markets Limited, BNP Paribas, Deutsche Bank AG, Singapore Branch and J.P. Morgan Securities plc.

Allen & Overy advised BNP Paribas, Citi, UBS, HSBC, Mandiri and Mizuho Securities as joint bookrunners on PT Saka Energi Indonesia (Saka)’s debut 144A/Reg S offering of USD625 million 4.45% senior notes due 2024. This is Saka’s first USD bond issue into the market.

Saka is an oil and gas exploration and production company and the upstream arm of the state-owned Perusahaan Gas Negara, Indonesia’s largest natural gas transportation and distribution company.

S&C client Barclays PLC completed an SEC-registered offering of $2 billion aggregate principal amount of 4.836% fixed rate subordinated notes due 2028. The subordinated notes qualify as Tier 2 capital instruments under applicable U.K. bank capital regulations.

The S&C London-based team on the public debt offering included John O’Connor, Evan Simpson and Umberto Hassan, with Eric Wang and Tessa Lee advising on tax matters.

Gernandt & Danielsson advises in Nynas' issue of bonds with a value of SEK 450 million.

After the issue, the total outstanding volume will amount to SEK 1.1 billion and thereby the total frame work amount has been reached. The company has undertaken to list the subsequent bonds on Nasdaq Stockholm. The bond proceeds will be used to refinance existing debt and for general corporate purposes.

DLA Piper has acted on the debut issuance by the National Highways Authority of India of its rupee denominated bonds and the listing of the bonds on the London Stock Exchange and Singapore Stock Exchange.

This was a benchmark transaction with INR 30 billion raised for a five year bond. It is the world's largest such issuance to date.

 Led by their Frankfurt based Partner Michael Schlitt and Counsel Susanne Lenz, Hogan Lovells advised Katjes International GmbH & Co. KG on the tap offering of corporate bonds due 2020. The company will receive proceeds of € 35 million from the issuance of the new bonds. Bankhaus Lampe KG acted as lead manager for the transaction.

Clifford Chance has advised Citigroup, as Structuring Adviser and Global Coordinator, BNP Paribas and SEB, as Joint Global Coordinators, and Barclays, BofA Merrill Lynch, Goldman Sachs International and Nordea, as Joint Bookrunners, on the issue of almost SEK 15 billion hybrid securities by Telia Company, a leading telecommunications group in the Nordic and Baltic region, and a leading provider of mobile services in Eurasia, headquartered in Sweden.

Slaughter and May advised Aviva plc on the update of its £7 billion Euro Note Programme. The programme enables Aviva plc to issue senior notes and subordinated notes capable of qualifying as Tier 3 capital and Tier 2 capital for regulatory purposes. Citigroup Global Markets Limited is the arranger of the programme.
Contacts

Financing: Caroline Phillips (partner), Matthew Twaddle (associate), Alexander Short (associate); Tax: William Watson (partner), Tanja Velling (associate).

With a Frankfurt-based team led by partner Thomas K. Schrell, the business law firm of Heuking Kühn Lüer Wojtek comprehensively advised Vetter on a EUR 210 million refinancing transaction. The bank consortium consists of BNP Paribas, Commerzbank, DZ BANK, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen Girozentrale, and SEB AG. The revolving credit line has a maturity of five years, with a two-year extension option of one year each.

Gide advised Crédit Agricole Corporate and Investment Bank in connection with the issuance of two tranches of bonds by Kaufman & Broad for a total amount of EUR 150 million admitted to trading on the Marché Libre of Euronext Paris.

Crédit Agricole Corporate and Investment Bank was the sole arranger of this Euro PP financing.

Gide’s team was led by Hubert du Vignaux (partner), assisted by Bastien Raisse and Louis Ravaud (associates).

Kaufman & Broad was advised by White & Case.