Allen & Overy has advised Axis Bank, HSBC, Nomura and Standard Chartered Bank as joint lead managers on the landmark issue of INR33 billion (approximately USD500 million) masala bonds by Housing Development Finance Corporation Limited (HDFC). The bonds were listed on the Main Market of the London Stock Exchange. Masala bonds are denominated in Indian Rupees but payable in foreign currency, typically U.S. dollars. The investor takes the risk of any currency fluctuation during the life time of the bonds.

Clifford Chance has advised X5 Retail Group, a leading Russian food retailer, on its debut issue of RUB20 billion guaranteed notes. This Eurobond issue has become the largest Rouble-denominated issue since the re-opening of international capital markets for Russian issuers in the second half of 2016.

The Clifford Chance London team working on the deal was represented by David Dunnigan, Eric Green and Clara Gold.

Slaughter and May advised Legal & General Group Plc on its issuance of US$500 million Fixed Rate Reset Subordinated Notes due 2052 pursuant to its £4 billion Euro Note Programme. The Notes bear interest at the rate of 5.55 per cent. per annum until 24 April 2032. On such date and thereafter on each reset date, the interest rate shall be reset by reference to a reference bond rate.

Barclays Bank, Goldman Sachs International and Merrill Lynch International acted as joint lead managers.
Contacts

Richard Jones (partner) and Andrew Chaplin (associate)

Allen & Overy LLP has advised ODDO & CIE and ODDO SEYDLER BANK AG as Joint Bookrunners in relation to the successful tap of the EUR 350 million 4.75% corporate bond 2015/2020 by Adler Real Estate AG.

Due to a considerable oversubscription the tap was increased from the targeted EUR 100 million to EUR 150 million, bringing the total bond 2015/2020 volume to EUR 500 million.

On 20 April 2017, CITIC Securities Co., Ltd. (CITIC Securities), advised by King & Wood Mallesons, successfully updated its $3 billion medium-term notes (MTN) programme and the drawdown thereunder. The notes are issued by CITIC Securities Finance MTN Co., Ltd., a wholly-owned subsidiary of CITIC Securities, and guaranteed by CITIC Securities.

Watson Farley & Williams (“WFW”) has advised the Singapore branch of DVB Bank SE (“DVB”) on the financing of the acquisition by institutional investors, arranged by HI Investment & Securities Co., Ltd. of two used B777-300ER aircraft on lease to Emirates. The transaction closed in April 2017.

In addition to the financing provided by DVB, the purchase of each aircraft acquisition was financed through notes issued by the borrower.

Frankfurt-listed DVB is part of the DZ BANK Group and specialises in transportation finance.

Allen & Overy received the "IFLR Czech Republic Law Firm of the year" award at the 18th Annual IFLR European Awards gala.
The awards, which recognise the most innovative deals, teams, firms and advisors in the industry, were held at the Savoy hotel in London last night. IFLR is the industry leader for awarding legal innovation.
 

The firm has advised MUFG’s core banking unit, the Bank of Tokyo-Mitsubishi UFJ, Ltd. on the refinancing of Twin Rivers Wind Farm Limited.

Banking and renewables sector experts from Burges Salmon have advised MUFG’s core banking unit, the Bank of Tokyo-Mitsubishi UFJ, Ltd. on the refinancing of Twin Rivers Wind Farm Limited.

Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., as arranger and dealer, and Deutsche Bank AG, Singapore Branch, Goldman Sachs International, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, The Korea Development Bank, Merrill Lynch International, Morgan Stanley & Co. International plc, Nomura International plc and UBS AG, Hong Kong Branch, as dealers, in connection with the update of the US$3.5 billion global medium term note program of Korea Expressway Corporation.

Munich, April 21, 2017 – The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised a banking consortium led by Commerzbank Aktiengesellschaft, HSBC Trinkaus & Burkhardt AG, IKB Deutsche Industriebank AG and UniCredit Bank AG as mandated lead arrangers on the refinancing of the DURAN group. The new senior facilities provide for a comprehensive financing of the group, including the recently added US businesses. The parties have agreed not to disclose the deal volume.