King & Wood Mallesons has advised Yunnan Energy Investment Finance Co. Ltd. (Yunnan Energy) as its international and PRC counsel on its offering of US$300,000,000 3.00% guaranteed bonds due 2019. The bonds is guaranteed by Yunnan Energy Investment (HK) Co. Ltd. with the benefit of a keepwell deed and a deed of equity interest purchase and investment undertaking by Yunnan Provincial Energy Investment Group Co. Ltd..
Global law firm White & Case LLP has advised Eni S.p.A. on the issue of €400 million non-dilutive equity-linked bonds which do not give rights to holders of the bonds in relation to Eni shares.
The transaction also provides for the purchase by Eni of cash-settled call options relating to Eni shares from one or more Joint Bookrunners, to hedge its exposure to the exercise of the 'conversion' rights under the bonds. The transaction represents the first ever equity-linked synthetic bond deal launched in Italy.
Slaughter and May advised Aviva plc on the update and revision of its £7 billion Euro Note Programme. The programme enables Aviva plc to issue senior notes and subordinated notes capable of qualifying as Tier 3 capital and Tier 2 capital for regulatory purposes. Citigroup Global Markets Limited is the arranger of the programme.
Contacts
Financing: Miranda Leung (partner), Akshay Kundaiker (associate), Charlotte Ferard (associate); Tax: William Watson (partner), Benjamin Wonnacott (associate), Tanja Velling (associate)
Milbank, Tweed, Hadley & McCloy LLP represented Goldman Sachs International, J.P. Morgan Securities plc and HSBC Bank plc as initial purchasers on the recent €230,000,000 high yield debt offering by Arrow Global.
The real estate company Byggmästare Anders J Ahlström Fastighets AB (publ) has resolved to issue corporate bonds amounting to SEK 250 million. The bonds are issued within a framework amount of SEK 500 million. The company has undertaken to list the bonds on Nasdaq Stockholm.
Gernandt & Danielsson has advised the company and its financial advisor Carnegie Investment Bank AB (publ) with a team consisting of Partner Mikael Borg, Senior Associate Adrian Della Morte Pålstam and Associate Katarina Odelberg.
Clifford Chance advised Banco Santander, S.A., Barclays Bank PLC, Citigroup Global Markets Limited, ING and The Royal Bank of Scotland plc on the issuance of EUR 1.8 billion of notes by Sanofi. The notes were admitted to trading on the Euronext Paris market on 5 April 2016.
The three series were drawn under Sanofi's Euro Medium Term Note Programme, and priced as follows:
* EUR 500 million 0.000 per cent. Fixed Rate Notes due 5 April 2019
* EUR 600 million 0.625 per cent. Fixed Rate Notes due 5 April 2024
Cravath represented the underwriters, Barclays, BNP Paribas, Deutsche Bank Securities and J.P. Morgan Securities, in connection with the US$1.75 billion registered debt offering of The State Treasury of the Republic of Poland. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on April 6, 2016.
The Cravath team included partner Philip J. Boeckman and associates Bridget K. Deiters and Timothy J. Leung.
Dentons has advised the shareholders of City Hospitals and Clinics AD (City Clinic) on the conclusion of definitive agreements for the sale of 100% of the company to Acibadem Saglik Hizmetleri ve Ticaret A.S (Acibadem).
Awarded ‘Polish Transaction of the Year’ by Rzeczpospolita
Global law firm Norton Rose Fulbright has been recognised for its work on the refinancing of Cyfrowy Polsat S.A. and Polkomtel Sp. z o.o.’s existing debt and the financing of working capital requirements, worth PLN 12.5bn (approximately €3bn). The accolade was awarded by Polish national daily paper, Rzeczpospolita. The ceremony took place on April, 18 2016.
On March 22, 2016, UBS Group Funding (Jersey) Limited established its USD 30 billion Senior Debt Programme ("Programme"), fully and unconditionally guaranteed by UBS Group AG ("UBSG"). The Programme is a global programme allowing for the issuance of notes both on a Rule 144A/RegS basis and on a RegS only basis.