With a Frankfurt-based team led by Partner Thomas K. Schrell, the business law firm of Heuking Kühn Lüer Wojtek advised Woco Group on issuing a promissory note. The group was advised both on structuring and on negotiating the promissory note documentation. The financing volume was not disclosed. Proceeds from the promissory note issue will serve general corporate financing purposes.
Davis Polk advised The Royal Bank of Scotland Group plc (RBSG), a public limited company incorporated under the laws of Scotland, in connection with its SEC-registered shelf takedown of $2.65 billion aggregate principal amount of 3.875% senior notes due 2023.
Gernandt & Danielsson advises in Fastator’s issue of corporate bonds amounting to SEK 250 million
Aktiebolaget Fastator (publ) has decided to issue corporate bonds amounting to SEK 250 million through a private placement. The bonds are issued within a framework amount of SEK 500 million. The company has undertaken to list the bonds on Nasdaq Stockholm. The bond proceeds will be used towards financing expansion in current holdings as well as for new investments.
Gernandt & Danielsson advises in Tobin Properties' issue of subsequent bonds in the amount of SEK 75 million. The bonds are issued within the framework amount of SEK 500 million and the total outstanding nominal amount after the subsequent bond issue will be SEK 300 million. The company has undertaken to list the subsequent bonds on Nasdaq First North Bond Market. The proceeds from the subsequent bond issue shall be used for investments in projects.
Leading international law firm Clifford Chance advised DBS Bank Ltd., Citigroup Global Markets Singapore Pte. Ltd., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited and Société Générale as joint bookrunners on DBS Group Holdings Ltd.'s first US denominated Basel III compliant Additional Tier 1 perpetual capital securities issuance. The offer was for US$750 million.
Partners Matt Fairclough and Johannes Juette led on the deal. They were assisted by senior associate Michael Weaver and associate Kenneth Teo.
Davis Polk advised the joint lead managers in connection with the first SEC-registered takedown offering of senior notes by Mizuho Financial Group, Inc., which consisted of $1.25 billion aggregate principal amount of 2.273% senior notes due 2021, $1 billion aggregate principal amount of 2.839% senior notes due 2026 and $1 billion aggregate principal amount of floating-rate senior notes due 2021. The notes are structured to count as total loss-absorbing capacity (TLAC) when TLAC regulations are implemented in Japan.
Davis Polk advised the underwriters in connection with an SEC-registered Schedule B debt offering by The Korea Development Bank of $500 million aggregate principal amount of its 1.375% notes due 2019 and $500 million aggregate principal amount of its 2.000% notes due 2026.
The Davis Polk corporate team included partners Eugene C. Gregor and James C. Lin and associate Tae-Hun Kim. Counsel Alon Gurfinkel and associate Veronica Orecharova provided tax advice. Members of the Davis Polk team are based in the Tokyo, Hong Kong and London offices.
Linklaters was pleased to advise DBS Group Holdings Ltd on an offering of US$750m Basel III compliant Additional Tier 1 perpetual capital securities, under its US$30bn Global Medium Term Note Programme.
“This unique and complex transaction was 8.7 times over-subscribed. The strong investor interest enabled the securities to be priced at an initial distribution rate of 3.60% to the benefit of the client,” said Kevin Wong, Partner, Linklaters.
Mr Wong said it was the lowest yield of any U.S. dollar Basel III-compliant AT1 offering globally.
Hemsö Fastighets AB (publ) (“Hemsö”) made its debut issuance under the newly established EUR 3 billion EMTN programme on 9 September 2016. EUR 500 million of notes were issued with a tenor of ten years and a fixed rate coupon of 1 per cent. The notes are listed on the Irish Stock Exchange.
Simpson Thacher, acting as sole international counsel, represented Citigroup Global Markets Inc., as arranger and dealer, and BNP Paribas, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, The Hongkong and Shanghai Banking Corporation Limited, ING Bank N.V., Singapore Branch, J.P.