Schroder European Real Estate Investment Trust (SEREIT) has secured two new debt facilities for a total of EUR 30.5 million with Deutsche Pfandbriefbank pbb. King & Wood Mallesons advised SEREIT on the transaction. 

SEREIT uses the loans to partially finance two property portfolios, comprising two commercial properties in Hamburg and Stuttgart and two retail properties in Frankfurt and Berlin. The two portfolios comprise a leasable area of 38,182 square meters.

King & Wood Mallesons (KWM) has advised Industrial Bank Co., Ltd. (“Industrial Bank”) as international and PRC law counsel on its establishment of US$5 billion MTN programme and the first drawdown thereunder, the issuance of US$1 billion notes in two tranches – US$700 million 2% notes due 2019 and US$300 million 2.375% notes due 2021.

Global law firm White & Case LLP has advised AXA on its undated subordinated notes issue for a total amount of US$850 million.

The perpetual notes may be redeemed for the first time five years after their issue date, and bear interest at a fixed rate of 4.5 percent payable semi-annually.

Davis Polk advised Delphi Automotive PLC in connection with a SEC-registered offering of $300 million aggregate principal amount of its 4.400% senior notes due 2046. The notes are guaranteed by certain of Delphi Automotive PLC’s subsidiaries. Delphi intends to use the net proceeds from the offering, together with the proceeds from Delphi’s offering of €500 million 1.600% senior notes due 2028, to repay Delphi Corporation’s outstanding 5.00% senior notes due 2023.

Leading international law firm Clifford Chance acted as the sole counsel to the bookrunners: Axis Bank, Bank of America Merrill Lynch, Citigroup, Credit Suisse, Nomura and Yes Bank, on Indiabulls Housing Finance's US$200 million (Rs13.3 billion) senior secured synthetic notes listed on the Singapore Stock Exchange. The notes are denominated in Indian Rupees, but trade and settle in U.S. dollars.

Shearman & Sterling represented the underwriters, led by RBS Securities Inc., in connection with The Royal Bank of Scotland Group plc's offering of $2.65 billion 3.875% senior notes due 2023. The joint bookrunners included Bank of America Merrill Lynch, BNP Paribas and Morgan Stanley.

The Royal Bank of Scotland, headquartered in Edinburgh, has a diversified customer base and provides a wide range of products and services to personal, commercial and large corporate and institutional customers.

Allen & Overy LLP advised the initial purchasers on the offering of U.S.$6.0 billion aggregate principal amount of U.S. dollar denominated bonds by Siemens Financieringsmaatschappij N.V.

The bonds are guaranteed by Siemens Aktiengesellschaft.

The company issued six tranches of bonds with maturities of three, five, seven, ten and 30 years. In the three-year category, Siemens issued a series of floating rate and a series of fixed rate notes. The other series are fixed rate notes.

Global law firm Norton Rose Fulbright has advised the managers in relation to the Province of British Columbia’s syndicated issue of INR 5bn notes under its Euro Note Issuance Programme.

This marks the Province’s inaugural issue of synthetic Indian Rupee-denominated bonds payable in US dollars (known as “Masala” bonds) and the first such issue by a foreign government. The 6.60 per cent notes, payable in US. dollars, are due on January 9, 2020.

Peter Noble, partner, Norton Rose Fulbright, comments:

The London office of Debevoise & Plimpton LLP has advised PartnerRe Ltd. (“PartnerRe”) in its €750 million, 10-year debut Eurobond offering, with a fixed rate of 1.25%.

PartnerRe intends to use the proceeds of the offering to redeem Series D 6.5% and Series E 7.25% preferred shares, to refinance a $250 million bond at 6.875% due in 2018, and for general corporate purposes.

The Notes have been admitted to listing on the Official List of the UK Listing Authority and to trading on the regulated market of the London Stock Exchange.

The Notes have been assigned a rating of A3 (stable) by Moody’s and A- (stable) by Standard & Poor’s.

Deutsche Bank AG, London branch acted as manager in respect of the offering.

Contacts

Financing: Miranda Leung (partner), Akshay Kundaiker (associate), Matt Twaddle (associate)