White & Case LLP has advised HSBC, Deutsche Bank, JP Morgan and Morgan Stanley as joint bookrunners on the dual-tranche issuance by Total S.A. of €2.5 billion hybrid notes.
Slaughter and May, Hong Kong, advised Swire Pacific Limited on the annual update of the US$5 billion Medium Term Note Programme of Swire Pacific MTN Financing Limited, its wholly-owned subsidiary (the Programme).
Notes issued under the Programme are guaranteed by Swire Pacific Limited and may be listed on the Hong Kong Stock Exchange. HSBC and Morgan Stanley are the Joint Arrangers under the Programme.
Contacts
Lisa Chung (partner), Adrienne Yeung (associate), Jocelyn Poon (associate)
Allen & Overy LLP has advised TUI AG on the successful EUR 300 million bond issue. The corporate bond with a maturity of 5 years, a coupon of 2.125% and a yield of 2.250 % was several times oversubscribed. The proceeds are used for general corporate purposes including the refinancing of the outstanding EUR 300 million 4.500% bond issued in 2014.
Hero AG issued a CHF 200 m Hybrid Bond and a CHF 135 m Senior Bond. Credit Suisse AG, UBS AG, Bank Vontobel AG and Raiffeisen Schweiz Genossenschaft acted as managers of the Hybrid Bond and the Senior Bond. Both the Hybrid Bond and the Senior Bond have been listed on the SIX Swiss Exchange.
Homburger acted as counsel to Hero AG. The Homburger team consisted of René Bösch, (Partner, Financial Services), Stefan Oesterhelt (Partner, Tax), Eduard De Zordi (Counsel, Financial Services) and Bettina Oertle (Paralegal, Financial Services).
Dubai—Dentons has advised Islamic Corporation for the Development of the Private Sector ("ICD"), which is a multilateral development financial institution and is part of the Islamic Development Bank (“IDB”) Group, in connection with the Government of Jordan's first sovereign Sukuk issuance using Islamic Finance Instruments, amounting to JOD34 million, to finance the completion of the construction of the new Ministry of Finance building located in the heart of the Capital of Jordan.
Advised by King & Wood Mallesons (KWM), YTO Express Co., Ltd. (YTO Express, stock code: 600233) completed its back-door listing by acquiring Dalian Dayang Trands Co., Ltd. (Dayang Trands, 600233.SH) on 20 October 2016 to become the first listed company in China’s express industry. In the transaction, the major asset restructuring included the sale of major assets, assets purchase via shares issuance and fund raising via shares issuance.
Slaughter and May, London and Hong Kong, advised Standard Chartered on the annual update of its US$77.5 billion debt issuance programme, under which Standard Chartered PLC, Standard Chartered Bank and Standard Chartered Bank (Hong Kong) Limited have the ability to issue notes to be listed and traded on the London and Hong Kong Stock Exchanges.
Contacts
London
Linklaters was pleased to advise Standard Chartered Bank on its issuance of bonds denominated in Special Drawing Rights (SDR), which was completed on 26 October 2016.
This is the first issuance of SDR bonds by a commercial entity.
“This deal is a great example of the use of legal innovation to support increased financial integration between the PRC and international markets,” said capital markets partner Hwang Hwa Sim.
“We were pleased to assist our client in yet another market first,” Mr Sim added.
Slaughter and May advised Santander Consumer Finance Oy (SCF) as originator and servicer in relation to a stand-alone Finnish auto loan ABS transaction.
Clifford Chance has advised Quotient Limited, a commercial-stage diagnostics company based in Jersey, Channel Islands, on a private placement of up to US$120 million of 12% Senior Secured Notes due 2023. The transaction, which closed on October 14th, also included the sale of a royalty right to the note purchasers. The Firm had previously represented Quotient on its US IPO, which closed in April 2014, and its follow-on PIPE and public equity offerings.