King & Wood Mallesons has advised Jiangsu NewHeadLine Development Group Co., Ltd (Jiangsu NewHeadLine Development Group) as its international and PRC counsels on its offering of US$200 million 6.20 per cent. guaranteed bonds due 2019. The deal is the first offshore bond issuance assigned with a high yield rating by a local government financing vehicle (LGFV) in China.
Slaughter and May, working as a team with Cleary, Gottlieb Steen & Hamilton LLP, advised Santander UK Group Holdings plc in relation to the issue of US$ 1,000,000,000 notes under its SEC registered US shelf facility.
The issue, announced on 8 January 2016, comprises a single tranche of US$ 1,000,000,000 3.125% notes due 2021.
The joint book-running managers for the issuance were Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Santander Investment Services Inc. and UBS Securities LLC.
Hogan Lovells has advised the Islamic Corporation for the Development of the Private Sector (ICD), as arranger, on the inaugural CFA150 Billion sukuk offering by the Government of Côte d’Ivoire.
The sukuk is an amortising sukuk al-ijara and is targeted at local banks and institutional investors. It mirrors the successful Senegal sukuk that Hogan Lovells advised on in 2014.
Imran Mufti, Partner commented:
Clifford Chance advised Hilite International, Marktheidenfeld, Germany, on the successful refinancing of its existing borrowings. The company now has a revolving working capital line of EUR 100,000,000 at command with considerably better conditions compared to the earlier credit line.
Loyens & Loeff (Sietske van ‘t Hooft and Sophie Demper) advised the European Investment Bank (the EIB) with regard to a 100 million euro loan by the EIB to Qredits Microfinanciering Nederland, a non-profit organisation focusing on financing businesses in the Netherlands without access to bank financing. With this loan, Qredits can grant more loans in the coming years, as well as provide coaching to (starting) Dutch entrepreneurs. The European Investment Fund supports the credit with a 25 million euro guarantee. The Ministry of Economic Affairs guarantees 80% of the EIB loan.
Clifford Chance advised a bank syndicate led by HSH Nordbank AG as lenders on the refinancing of Deutsche Beteiligungs AG's purchase of a majority stake in Cleanpart Group. This involved the financing via a date credit line as well as a revolving working capital line. It was agreed not to disclose the volume of the refinancing.
Frankfurt am Main - Luther assisted Zapf Creation AG with the successful refinancing of an existing loan: Zapf Creation signed new loan agreements with UniCredit Bank AG, the terms of which were adjusted to the changed market environment and constitute a milestone in the restructuring of the toy manufacturer from Upper Franconia in Germany.
Norton Rose Fulbright has advised The Islamic Corporation for the Development of the Private Sector (“ICD”) on the establishment of a dual London and Nasdaq Dubai listed Regulation S compliant Sukuk Issuance Programme (the “Programme”).
The Programme, while backed by the credit of ICD as obligor, was established with Hilal Services Ltd, a Cayman Islands incorporated SPV, as the issuer.
Herbert Smith Freehills has advised Civic Nexus Finance Pty Ltd on its US$202 million US private placement of senior secured notes due in 2032 for Melbourne’s landmark Southern Cross station.
The proceeds of the notes were used to refinance a bank facility entered into in 2014.
Partners Josh Sgro and Gerard Pike led the Herbert Smith Freehills team that acted as US and Australian counsel to Civic Nexus. They were supported by senior associates Amanda Osuchowski and Miles Wadley.
Stephenson Harwood LLP has advised existing client Premier Energy and Water Trust plc on its issue, via a newly incorporated subsidiary, of new zero dividend preference shares repayable in 2020. This issue offers existing ZDP shareholders in the group the opportunity to rollover their investment in a tax efficient manner into the new ZDP shares.