Jones Day assisted Banca IMI SpA, MPS Capital Services, and Unicredit S.p.A., as dealer managers, in the review of documents relating to the buy-back of government bonds called BTP Italia issued by the Republic of Italy, for €3.8 billion (US$4.3 billion).
Contact: Piergiorgio Leofreddi
On 31 October 2018, China’s central bank, the People’s Bank of China (“PBOC”) announced that it will hold a tender of RMB10 billion three-month Bills and RMB10 billion one-year Bills, on Wednesday, 7 November 2018 for settlement on Friday, 9 November 2018. The Bonds were issued through tendering platform, CMU BID, which forms part of the Hong Kong Monetary Authority (“HKMA”).
Global law firm White & Case LLP is advising leading global investment firm EQT, through EQT VIII and Karo Intressenter AB, on the public cash offer to the shareholders of Karo Pharma AB (Karo Pharma) to acquire all shares in Karo Pharma.
The shareholders are being offered SEK 36.90 in cash per share in Karo Pharma. The total offer, based on all outstanding shares, amounts to SEK 5.973 billion (US$654 million). The transaction is subject to a number of customary closing conditions and is expected to complete before the end of 2018.
The offering was part of the approximately US$60 billion of high yield offerings Latham handled during the first three quarters of 2018.
Milbank, Tweed, Hadley & McCloy LLP has advised Attica Bank SA (“Attica bank”), the major Greek non-systemic lender, in the sale of a junior note in the principal amount of €339,375,000, issued (together with a senior-tranched note) by a Luxembourg SPV in consideration for Attica bank’s securitised portfolio of non-performing loans (“NPLs”) of approximately €700 million.
Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., as arranger and dealer, and 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, Société Générale 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.
Global law firm White & Case LLP has advised CVC Capital Partners on a €1.3 billion high yield bond issuance related to the proposed acquisition of FIMEI S.p.A., which owns 51.8 percent of the outstanding share capital of Recordati S.p.A.
Gide has advised Societe Generale on three issuances on the Japanese market of Senior Non-Preferred Bonds, all subscribed by Mitsubishi UFJ Morgan Stanley Securities Co., Ltd., Mizuho Securities Co., Ltd., Nomura Securities Co., Ltd., SMBC Nikko Securities Inc. and Societe Generale Securities Japan Limited, acting as joint lead managers.
Gide's team was led by partner Hubert du Vignaux, with senior associate Bastien Raisse and associate Louis Ravaud.
Societe Generale was also assisted by Anderson Mori & Tomotsune on Japanese law aspects.
International law firm Ashurst has advised IFM Investors, Australian Super and Cbus, with Westpac as arranger, on their 10-year A$100m debt facility to Essendon Airport, the airport and business park owned by AFR Rich Listers Max Beck and Lindsay Fox. IFM Investors, Australian Super and Cbus join a syndicate of existing financiers to Essendon Fields.
The additional funding gives Essendon Fields greater certainty of capital over the long term and will enable them to continue with the development of the airport and the business park rollout.
Herbert Smith Freehills has advised Westpac, as arranger, and a number of institutional lenders including superannuation funds and asset managers in relation to a A$214 million long-term debt raising for the Visy Group.
This was the first time some of these institutional investors have participated in the Australian debt market and the first syndicated loan by Australian institutional investors.