White & Case LLP has advised Onorato Armatori S.p.A. on the refinancing of its existing indebtedness through the issuance of a secured high yield bond and a senior secured term and revolving credit facilities.
On February 9, 2016, the Republic of Argentina announced that Cravath will be representing the country in connection with ongoing litigations concerning the Republic’s sovereign debt issuances and related debt restructuring and capital markets issues.
Cravath represented European Investment Bank in connection with its US$4 billion registered debt offering. European Investment Bank is a long-term financing institution of the European Union. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on February 9, 2016.
The Cravath team included partner Philip J. Boeckman and associates Winnie Ling and Lawrence J. Verhelst.
Shearman & Sterling advised Barclays, J.P. Morgan and UBS on the refinancing of nearly all the existing indebtedness of Aguila S.A. and its subsidiaries (the Swissport Group) in connection with the acquisition of the Swissport Group by HNA Group Co. Ltd. HNA Group intends to continue operating the Swissport Group as a stand-alone business.
This week, health care institute Prinses Maxima centrum voor Kinderoncologie (PMCK) laid the foundation stone for the construction of the new building. The start of the construction is an important next step in the further development of research and health care for pedriatric onocolgy.
The new construction is partly financed by the issue of public notes. The Prinses Máxima Centrum is the first healthcare institution in years to obtain financing via a public notes issue in the Netherlands.
Mannheimer Swartling has assisted Svensk Hypotekspension Fond 3 AB (publ) in its issuance of SEK 2 billion mortgage backed notes at a fixed interest rate. The notes are backed by a portfolio of so called equity release or reverse mortgage loans under the trademark Hypotekspension® initially granted by Svensk Hypotekspension AB, the parent company of Svensk Hypotekspension Fond 3 AB (publ). The notes have been assigned an Asf rating by Fitch Ratings Ltd and will be listed on NASDAQ Stockholm. The documentation is governed by Swedish law.
Simpson Thacher represented certain Blackstone investment funds and Alliance Automotive Finance plc, an affiliate of Alliance Automotive Group S.A.S. (“AAG”), in connection with a Rule 144A and Regulation S offering of €70 million in aggregate principal amount of its Senior Secured Notes due 2021. The transaction closed on February 9, 2016. AAG will use the net proceeds from this offering for general corporate purposes, including to finance potential acquisitions.
Dubai—Dentons has advised Mashreqbank psc on a dual conventional and Islamic financing facility to Royal Jordanian Airlines, the national airline of Jordan. The syndicate was made up of eight banks based in UAE, Qatar, Jordan and France with Mashreqbank psc acting as sole Bookrunner and also as Mandated Lead Arranger, along with Al Khalij Commercial Bank (Al Khalij) Q.S.C, Arab Bank plc, Dubai Islamic Bank PJSC, and The Commercial Bank (Q.S.C.).
White & Case LLP has advised the Kingdom of Belgium on the update of its EMTN Programme.
The purpose of this update is, among other things, to allow issuances under a dual structure RegS/Rule 144A as well as renminbi denominated notes. The Belgian Treasury expects to issue €4 billion through its EMTN Programme during 2016. BNP Paribas Fortis is acting as Arranger under the EMTN Programme.
White & Case LLP has advised Deutsche Bank, as dealer manager, on FMS Wertmanagement's tender offer for DEPFA bonds.
The cash tender comprised parallel European and US offers for bonds denominated in euro, Swiss francs, US dollars and Canadian dollars with maturities ranging from 2017 to 2037. The bonds were issued by DEPFA ACS Bank and DEPFA Pfandbriefbank International S.A., both subsidiaries of FMS Wertmanagement. Both issuers were previously owned by Hypo Real Estate Group.