Global law firm White & Case LLP has advised Crédit Agricole S.A. on the issue of bonds exchangeable for Eurazeo shares due 2019.

Crédit Agricole S.A. announced the launch of an issue of €308 million zero coupon bonds on September 27, 2016. The bonds will be redeemed at par at maturity, except in case of an early redemption, subject to a Crédit Agricole S.A. option to deliver existing shares of Eurazeo and an additional amount in cash.

Shearman & Sterling represented ARD Finance S.A., an indirect parent company of Ardagh Packaging Holdings Limited (Ardagh), in its offering of $770 million 7.125% / 7.875% senior secured toggle notes due 2023 and €845 million 6.625% / 7.375% senior secured toggle notes due 2023. The net proceeds from the issuance will be used to fund the redemption of the existing PIK notes due 2019 issued by Ardagh Finance Holdings S.A. and to finance a return of capital to shareholders.

On September 26, 2016, Siegfried Holding AG successfully placed a subordinated public hybrid bond in the amount of CHF 145 m at a yearly coupon of 2.125%. The proceeds are used for capital structure management purposes and repayment of existing bank loans. The instrument is perpetual with an initial option to redeem after five years.

Slaughter and May advised Hibu Group Limited and its subsidiaries (hibu) on its successful refinancing and reorganisation of hibu’s capital structure (the Refinancing). The Refinancing normalises hibu’s capital structure following its restructuring in 2014, reflecting its improved financial performance since 2014. The full terms of the Refinancing were proposed to hibu’s members and creditors on 26 July 2016.

Swiss Life Ltd has successfully placed a EUR 600 million undated subordinated bond, first callable in May 2027. The coupon until the first call date has been fixed at 4.5%.

Walder Wyss acts as legal counsel to Swiss Life Ltd. on this transaction. The Walder Wyss team includes Markus Pfenninger (Banking Finance, Lead Partner), Maurus Winzap (Tax, Partner), Ramona Wyss (Banking Finance, Associate) und Sebastian Müller (Banking Finance, Trainee).

Slaughter and May advised Shire plc on the English law aspects of the successful $12.1 billion SEC-registered debt offering by its wholly owned subsidiary, Shire Acquisitions Investments Ireland DAC. The offering consisted of $3.3 billion of 1.900% senior notes due 2019, $3.3 billion of 2.400% senior notes due 2021, $2.5 billion of 2.875% senior notes due 2023 and $3 billion of 3.200% senior notes due 2026.

Gernandt & Danielsson advises in Serneke Group’s issue of corporate bonds amounting to SEK 300 million.

Serneke Group AB (publ) has decided to issue corporate bonds amounting to SEK 300 million. The bonds are issued within a framework amount of SEK 500 million and the bond proceeds will be used for general corporate purposes, including acquisitions. The company has undertaken to list the bonds on Nasdaq Stockholm.

The Serneke group conducts business within construction, civil engineering, project development and property management.

Davis Polk advised the joint book-running managers on a public offering by Ingredion Incorporated of $500 million aggregate principal amount of 3.200% senior notes due 2026.

Ingredion is a leading global ingredients solutions provider. Ingredion turns corn, tapioca, potatoes, rice and other vegetables and fruits into value-added ingredients and biomaterials for the food, beverage, paper and corrugating, brewing, pharmaceutical, textile and personal care industries, as well as the global animal feed and corn oil markets.

Groupe Acrotec SA, a high precision manufacturer of small components and specialised service provider for the watchmaking and industrial sectors, has completed the placement of CHF 106 million 4.00% bonds due 2021. The bonds were issued at 100% of their principal amount and, unless previously redeemed or repurchased and cancelled, will mature on 22 November 2021 at 100% of their principal amount.

Novartis Finance S.A. completed the placement of two Notes of EUR 1,250,000,000 due 2023 and EUR 500,000,000 due 2028. The 2023 Notes were issued at 99.127% of their principal amount with an interest of 0.125% and will mature on 20 September 2023 at their nominal value. The 2028 Notes were issued at 98.480% with an interest of 0.625% and will mature on 20 September 2028 at their nominal value. Both Notes are guaranteed by Novartis AG. They are provisionally admitted to trading and expected to be listed on SIX Swiss Ex-change Ltd.