On March 10, 2017, UBS updated its Senior Debt Programme ("Programme"), under which bail-inable (TLAC) notes may from time to time be issued that are fully and unconditionally guaranteed by UBS Group AG ("UBSG"). The update included a change in issuer under the Programme, from a Jersey SPV to a Swiss SPV (UBS Group Funding (Switzerland) AG) that qualifies as a "relevant group company" pursuant to art. 2bis of the Swiss Banking Act. The Programme is a global programme allowing for the offering of bail-inable (TLAC) notes both in the U.S. in reliance on Rule 144A under the U.S.

Vinge has advised Industrifonden in connection with Meniga’s implementation of a capital procurement of €7.5 million, with Industrifonden as the lead investor. Meniga is a global pioneer within digital bank technology and the new financing will enable the future development of Meniga’s digital bank platform.
 
Vinge’s team consisted primarily of partner Johan Larsson, associate Louise Nordkvist and partner Louise Brorsson Salomon.

Shearman & Sterling advised Anglo American plc in connection with the offering of its $300 million 3.750% senior notes due 2022 and $700 million 4.750% senior notes due 2027. The notes were issued by Anglo American Capital plc and guaranteed by Anglo American plc.

Shearman & Sterling has advised Nexans, a cable manufacturer, in connection with the issuance of a €200 million bond. The fixed-rated issue has a maturity of 7 years (April 5, 2024 term) and an annual coupon of 2.75% p.a. Yield to maturity is 2.75% and issue price is 100% of par value.

Jones Day represented Peabody Energy Corporation, a large private-sector coal company, in connection with an amendment and restatement of its receivables securitization program with PNC to, among other things, increase the maximum availability under the facility to $250 million, extend the facility termination date, and add certain Australian subsidiaries of Peabody Energy Corporation as originators.

For additional information about this matter, please contact: Glenn S. Arden, Katie Higgins, Michelle F. Herman
Client(s): Peabody Energy Corporation

Hogan Lovells, the global law firm, has advised the European Investment Bank on a guarantee agreement with Dutch bank NIBC Bank in support of loans of up to EUR 500 million to innovative mid-sized enterprises. The operation is supported by 'InnovFin - EU Finance for Innovators' MidCap Guarantee with the financial backing of the European Union under Horizon 2020 Financial Instruments.

Advising Société Générale in connection with the senior debt financing for the OBO of HR-PATH, the HR solutions specialist, receiving €25M from Activa Capital and €5M from Ardian and Société Générale Capital Partenaires in new money.

On April 5, 2017, EFG International (Guernsey) Limited issued USD 400 m Tier 2 resettable subordinated Notes due 2027 guaranteed by EFG International AG.

Citigroup Global Markets Limited acted as lead manager together with Credit Suisse Securities (Europe) and DBS Bank Ltd. The notes will be listed on the SIX Swiss Exchange.

Berwin Leighton Paisner (BLP) has advised Greensleeves Homes Trust on the successful launch of the £50m Greensleeves Homes Trust Retail Charity Bond offering, the fourth Retail Charity Bond to be launched by Allia’s established retail charity bond platform.

Slaughter and May advised Bupa Finance plc on its issuance of £300,000,000 2.000 per cent. Notes due 2024 (the “Notes”). The Notes are guaranteed by the British United Provident Association Limited and are listed on the Regulated Market of the London Stock Exchange.

Proceeds from the Notes will, amongst other things, be applied in repayment of the short-term financing Bupa Finance plc put in place to complete the acquisition of Oasis Dental Care, on which Slaughter and May also advised.