Hong Kong - Paul Hastings, a leading global law firm, announced today that the firm represented China Everbright Limited (“China Everbright”) in its issuance of US$600 million (RMB$4 billion) panda bonds denominated in RMB, with Everbright Securities Company Limited (“Everbright Securities”) acting as the lead underwriter.

This issuance is the first tranche of panda bonds issued by China Everbright in a proposed series with an aggregate principal amount of not more than US$1.92 billion (RMB12.8 billion).

Clifford Chance has advised a banking syndicate consisting of Bayerische Landesbank and Raiffeisen International AG on a bond issue by Deutsche Bahn. The volume of the bond, issued by Deutsche Bahn Finance B.V. and guaranteed by Deutsche Bahn AG, is EUR 350 million and the term of the bond is five years.

The yield of the bond is -0.006%. This is the first euro-denominated corporate bond ever issued with a negative yield.

LONDON, 19th July, 2016 – Milbank, Tweed, Hadley & McCloy LLP has advised SMBC Aviation Capital Limited on a debut US$500,000,000 investment grade debt offering by its wholly owned subsidiary, SMBC Aviation Capital Finance DAC. The notes are fully and unconditionally guaranteed by SMBC Aviation Capital Limited and proceeds of the offering will be used for general corporate purposes, which may include the purchase of aircraft and the repayment of existing indebtedness.

Dubai—Dentons advised Ajman Bank PJSC on a AED245 million conventional loan and Islamic facility to Union Properties PJSC in relation to the construction and development of residential buildings in Dubai, United Arab Emirates. The facilities comprised of conventional and Istisna'/forward Ijarah facilities.

Ajman Bank together with the National Bank of Ras Al-Khaimah (RAKBANK) acted as joint lead managers for the deal with the publicly listed Dubai-based property developer, while Alpen Capital was the sole financial advisor for the transaction.

Global law firm White & Case LLP has advised the Ooredoo group on the update of its US$5 billion Global Medium Term Note Programme and the issuance thereunder of US$500 million of notes by Ooredoo International Finance Limited which are guaranteed by Ooredoo Q.S.C.

Clifford Chance's Dubai office has advised Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC on the tap issuance by MAF Global Securities Limited of US$300 million 4.75% per annum notes due 2024 (consolidated and forming a single series with the US$500 million 4.75% notes due 2024 issued on 7 May 2014). The notes were issued under the MAF Global Securities Limited US$3 billion global medium term note programme guaranteed by Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC.

We acted as joint Irish counsel to SMBC Aviation Capital and to the underwriters in relation to the sale by SMBC Aviation Capital Limited DAC, a wholly owned subsidiary of SMBC Aviation Capital, of $500 million of 2.65% senior unsecured notes due 2021 (the “Notes”). The Notes are fully and unconditionally guaranteed by SMBC Aviation Capital.

Clifford Chance's Dubai Office has advised Crédit Agricole Corporate and Investment Bank and National Bank of Abu Dhabi P.J.S.C. as joint lead managers on the tap issuance by the National Bank of Oman SAOG of US$100 million 3.125% notes due 2019 (to be consolidated, become fungible and form a single series with the US$500 million 3.125% notes due 2019 issued on 7 October 2014), under the Irish Stock Exchange listed US$600 million euro medium term note programme established by the National Bank of Oman SAOG (the Programme).

Simpson Thacher acted as sole international counsel in connection with the offering of US$400 million 2.5% Notes due 2026 by KT Corporation. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.

KT Corporation is the leading telecommunications service provider in Korea. BNP Paribas, Citigroup Global Markets Inc., Merrill Lynch International and Nomura International plc were joint bookrunners for the offering.

King & Wood Mallesons (KWM) has advised the debt fund Trea Direct Lending on the subscription of convertible notes issued by the Spanish wine group Gleva Cellars S.A. This is the first deal closed by the inaugural debt vehicle investment of Trea Capital Partners.

Gleva Cellars, which operates in the market under the brand Gleva Estates, is a Spanish wine group with seven wineries of cava and wine: Parxet, Mont-Ferrant, Raventós d´Alella, Titiana, Tionio, Foxconn and Portal de Montsant.