Shearman & Sterling advised BofA Merrill Lynch, Deutsche Bank, Barclays, and CCB International as underwriters in connection with the offering of US$300 million 8.125% senior notes due 2019 by Xinyuan Real Estate.

Xinyuan Real Estate is a NYSE-listed real estate developer and property manager that primarily focuses in China and recently in other countries.

The Shearman & Sterling team was led by partner Alan Yeung (Hong Kong-Capital Markets); with support from associates Yuanjing Chen and Yvonne Chen (both Shanghai-Capital Markets).

The Avril Group has just announced it has raised €880 million in financing for its strategic plan AVRIL 2020 through a combination of a €650 million club deal and €230 million in trade receivables securitisation.

AVRIL has thereby boosted its sources of financing:

* the €650 million club deal sees the emergence of a new banking pool organised around the Group's traditional banks and new international partners;
* the existing securitisation programme has been expanded and optimised, going from €150 million to €230 million.

King & Wood Mallesons (KWM) has acted on Qube Holdings Limited’s (Qube) $200 million hybrid offering.

KWM advised the joint lead arrangers (UBS AG, Australia Branch and National Australia Bank Limited) as well as the joint lead managers (UBS, NAB and ANZ Securities Limited). The proceeds of the offer will be used for general corporate purposes, including the development of the Moorebank project and to fund other growth opportunities for Qube.

Davis Polk advised the initial purchasers in connection with a CNY1 billion Regulation S offering by Fantasia Holdings Group Co., Limited (“the Company”) of its 9.50% senior notes due 2019 to be consolidated and form a single class with the CNY600 million aggregate principal amount of 9.50% senior notes due 2019 issued by the Company on May 4, 2016.

King & Wood Mallesons (KWM) has advised Consolidated Minerals Limited (Consolidated Minerals) on the successful completion of the amendment to the terms of their US$400,000,000 8.000% Senior Secured Notes due 2020 (Notes).

The amendment to the terms of the Notes provides Consolidated Minerals with additional liquidity during a period of low manganese prices.

HONG KONG / WARSAW: Allen & Overy has advised the Ministry of Finance of the Republic of Poland on its issue of RMB3 billion panda bonds, the first European sovereign to issue a CNY-denominated bonds in China’s domestic capital markets and Poland’s first CNY-denominated issuance. The bonds were underwritten by Bank of China Limited and HSBC Bank (China) Company Limited.

Allen & Overy LLP has advised Sixt SE on the successful placement of a Schuldschein loan with a total volume of EUR 375 million with institutional investors on the capital market.

The Schuldschein comprises four tranches with terms of between five and seven years, carrying either fixed or variable interest. Thanks to the high level of interest among investors, the issue volume originally sought by Sixt could be more than doubled.

Bayerische Landesbank, Landesbank Hessen-Thüringen (Helaba) and UniCredit acted as arrangers.

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 offering of $2.65 billion aggregate principal amount of 8.625% perpetual subordinated contingent convertible additional tier 1 capital notes (callable August 15, 2021, and every five years thereafter) (the “Notes”).

Dentons advised the lender Mezzanine Capital on its first two financing transactions. The first transaction was a EU12.5 million mezzanine loan to Medicon Group to fund the acquisition of ProNatal Medical Business. The deal involved negotiations of intercreditor arrangements with a senior lender and a complex financing structure with more than 30 obligors across four jurisdictions. Senior financing was provided by UniCredit Bank Czech Republic and Slovakia, a.s.

Leading international law firm Clifford Chance advised the joint lead managers on Bank of China's issuance of US$3.03 billion green bonds, the largest green bond issued by a Chinese entity in the international market and the first time that two offshore branches of a PRC-based financial institution have issued green bonds. The green bonds consist of one CNY, three USD and one EUR tranches. All of the net proceeds of the green bonds will be used to fund eligible green projects.

The transaction involved the following two key parts: