Ashurst has advised The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sydney Branch (BTMU) in relation to the issue of A$650 million Floating Rate Transferable Certificates of Deposit due 9 March 2021 and A$150 million 3.25 per cent Fixed Rate Transferable Certificates of Deposit due 9 March 2021, under its A$6 billion Transferable Certificates of Deposit Program.
Mayer Brown announced today that it represented the underwriters on an offering by Starbucks Corporation of approximately JPY¥85 billion/US$736 million of bonds. The proceeds of the offering will be used to make investments in eligible sustainability projects. The transaction marks the first “sustainability bond” issued in the Japanese market.
2017's first Tier 2 Notes Issue in Turkey
Leading global law firm Baker McKenzie has advised Akbank T.A.S., one of Turkey's largest banks, on the offering of USD 500 million Basel III compliant Tier 2 Notes under Akbank's $3,500,000,000 Global Medium Term Note Programme. This represents the first Tier 2 Notes issue in Turkey this year. The Notes have a fixed term of 10 years and an early call option at year 5.
Zhejiang University Insigma Group, advised by King & Wood Mallesons (KWM), successfully completed the issuance of CSC Financial-Insigma Jianshe Investment Qingchun Road Tunnel PPP special ABS. The project is the largest of the first four approved projects nationwide and the first PPP securitization project in Zhejiang Province, after the Notice of Promoting Securitization of Public and Private Partnership (PPP) Projects in the Traditional Infrastructure Sector was released jointly by the National Development and Reform Commission and the China Securities Regulatory Commission.
Dentons has advised Bank of Sharjah on the establishment of its US$1 billion Euro Medium Term Note (EMTN) programme and its inaugural issuance of US$500 million 4.23% notes due 2022 thereunder, which completed on 7 March 2017. The programme and the notes are listed on the Irish Stock Exchange and have been assigned a long-term senior unsecured rating of BBB+ by Fitch. The notes were offered to sophisticated investors outside of the United States in reliance on Regulation S under the US Securities Act 1933.
Davis Polk advised China Cinda Asset Management Co., Ltd. in connection with the $3 billion Regulation S notes offering by China Cinda’s wholly owned subsidiary, China Cinda Finance (2017) I Limited, consisting of $300 million aggregate principal amount of its 3.0% guaranteed senior notes due 2020, $1.3 billion aggregate principal amount of its 3.65% guaranteed senior notes due 2022, $700 million aggregate principal amount of its 4.1% guaranteed senior notes due 2024 and $700 million aggregate principal amount of its 4.4% senior notes due 2027.
Cravath represented the European Investment Bank in connection with its US$3 billion registered debt offering. The European Investment Bank, which functions as the bank of the European Union, supports projects that make a significant contribution to growth, employment, economic and social cohesion and environmental sustainability, both in the EU and beyond. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on March 14, 2017.
Global law firm White & Case LLP has advised Crédit Agricole Corporate & Investment Bank (CACIB) on the completion of the issuance of the Premium Green PLC Series 2017-2 Balance Sheet Notes due 2029 pursuant to the PREMIUM Multi Issuer Asset Backed Medium Term Note Programme.
Shearman & Sterling represented Ardagh Packaging Finance plc and Ardagh Holdings USA Inc, as co-issuers, both subsidiaries of Ardagh Packaging Holdings Limited (Ardagh), on their $2.2 billion notes offering. The offering included $715 million 4.250% senior secured notes due 2022, €750 million 2.750% senior secured notes due 2024 and $700 million 6.000% senior notes due 2025 (together, the Notes). The Notes are guaranteed by Ardagh and will be guaranteed by certain of its wholly owned subsidiaries.
Norton Rose Fulbright has advised on a US$100 million term loan and guarantee facility to Woodside with export credit support provided by DNB Bank ASA and the Norwegian Export Credit Agencies (ECA).
Our advice was given to Eksportkreditt Norge AS as lender; DNB Bank ASA as agent and arranger, ECA co-ordinator and ECA guarantor; and Norway’s Guarantee Institute for Export Credits (GIEK) as ECA guarantor on the loan and guarantee facility.
The facility is the first facility of this type between Woodside and the Norwegian export credit agencies.