Ashurst has advised the Commonwealth Bank of Australia ('CBA') on an offer to raise A$750 million through a new Tier 1 hybrid, Commbank PERLS IX Capital Notes ('Offer').
Herbert Smith Freehills is pleased to be advising Commonwealth Bank of Australia (CBA) on its issue of CommBank PERLS IX Capital Notes to raise approximately A$750 million (with the ability to raise more or less) announced on 20 February 2017.
CBA is one of Australia’s leading providers of integrated financial services including retail, business and institutional banking, funds management, superannuation, life insurance, general insurance, broking services and finance company activities.
Global law firm White & Case LLP has advised the Federal Republic of Nigeria on the establishment of a Global Medium Term Note Programme and subsequent issuance of US$1 billion, 7.875 percent Notes due 2032 thereunder.
Simpson Thacher recently represented the dealers in connection with Sumitomo Mitsui Banking Corporation’s update of its US$50 billion Global Medium Term Notes Program and the offering of US$1.25 billion of senior notes thereunder. The senior notes were guaranteed by SMBC’s New York branch and offered and sold in reliance on the exemption from SEC registration provided in Section 3(a)(2) of the Securities Act. SMBC Nikko Capital Markets Limited, Barclays Bank PLC, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman, Sachs & Co., J.P.
The multijurisdictional Freshfields team was led from across London and Moscow by partners Peter Allen, Dmitry Surikov and Sarah Murphy
Davis Polk advised IHS Markit Ltd. in connection with its Rule 144A/Regulation S offering of $500 million aggregate principal amount of its 4.75% senior notes due 2025. IHS Markit intends to use the net proceeds from the offering for working capital and other general corporate purposes, which initially included repayment of indebtedness under its revolving credit facility and may in the future include share repurchases pursuant to its previously announced share repurchase authorization.
Grammer AG (Amberg), a leading supplier of automotive interior and seating systems, and Ningbo Jifeng Auto Parts Co., an international automotive component supplier, specializing in interior parts, announced their joint intention to form a strategic partnership on 14 February 2017. As part of the partnership, an associated company of Ningbo Jifeng has subscribed to a mandatory convertible bond representing approximately 9.2% of the share capital of Grammer, issued under the exclusion of subscription rights. The total proceeds to Grammer from the issuance will be EUR 60 m.
Stephenson Harwood LLP has advised the Republic of Iraq, acting through the Iraqi Ministry of Finance, on the issuance of its first bond in the international financial markets.
The five year bond, which has a total value of US$1 billion, has a 2.149% yield. It is guaranteed by the United States Agency for International Development.
gategroup successfully raised CHF 300 million through the issuance of a fixed rate 5-year senior bond with a final maturity on February 28, 2022. The bond with a coupon of 3% p.a. has been issued by gategroup Finance (Luxembourg) S.A. and is guaranteed by its parent company gategroup Holding AG. gategroup will apply for the listing of the new bond on the SIX Swiss Exchange.
On February 10, 2017, Santhera Pharmaceuticals Holding AG (Santhera) announced the successful placement of a CHF 60 m 5% senior unsecured convertible bond due 2022. Santhera is a Swiss specialty pharmaceutical company focused on medicines to treat mitochondrial disorders and other rare diseases. The convertible bond will be Santhera's first listed debt instrument and is expected to be listed on the SIX Swiss Exchange. Bank am Bellevue and Kepler Cheuvreux acted as joint lead managers.