HONG KONG; Hogan Lovells has advised the syndicate of lenders on US$2.45 billion five-year term and revolving facilities to Tencent Asset Management Limited ("Tencent") in Tencent's second major syndicated loan, which involved 19 lenders.
Clifford Chance advised UniCredit Bank AG on the securitisation of German mortgage backed SME loans in an amount of EUR 2.5 billion.
The loans were sold by UniCredit Bank AG to Rosenkavalier 2015 UG (haftungsbeschränkt), a German special purpose vehicle which in turn financed the purchase by issuing two classes of notes, with the senior class satisfying the requirements of the European Central Bank for eligible collateral.
Julius Baer has redeemed the outstanding one million Non-cumulative Guaranteed Perpetual Preferred Securities with a liquidation preference amount of CHF 225 per security (the "Preferred Securities") on 2 December 2015. The total of one million Preferred Securities, which are not Basel III-compliant, was issued in December 2005 in connection with the acquisition of the SBC Wealth Management Group (UBS Private Banks and GAM) by the former Julius Baer Holding Ltd. The obligations related thereto were assumed by Julius Baer Group Ltd. in 2009.
De Brauw Blackstone Westbroek has advised RELX Finance on establishing their USD 3 billion US Commercial Paper Programme, irrevocably and unconditionally guaranteed by RELX NV and RELX PLC on a senior unsecured basis.
The Programme establishes the framework under which RELX, formerly known as Reed Elsevier, can issue commercial paper in the future. Commercial paper is an unsecured promissory note with a fixed maturity of no more than 12 months and is used by corporations to fund their short-term obligations.
Team
With a team led by Frankfurt-based Partner Dr. Günther M. Bredow, Heuking Kühn Lüer Wojtek advised Janoschka Group on replacing existing corporate financing at a volume of about EUR 27 million. Existing bridge financing by IKB Deutsche Industriebank AG was replaced by financing granted by IKB Deutsche Industriebank AG and LFPI European Debt Fund SCA as mezzanine capital. In addition, senior loans and credit lines were granted by IKB Deutsche Industriebank AG, NordLB, and Sparkasse Offenburg.
NCTM assisted UniCredit, as agent bank, BNL, BPM, CariVeneto, Friuladria and Banco Popolare in the medium\long term financing granted to Zuegg and the new company Oswald Zuegg for a total amount of €31.5 million. NCTM team, led by the partner Stefano Padovani, was made up of the salary partner Giovanni de’ Capitani and the associate Alessandra Pirozzolo.
Hogan Lovells has acted as Lenders' counsel to Standard Chartered Bank ("SCB"), Emirates NBD, Emirates Capital Ltd and Mashreq Bank, on a strategic financing for Joyalukkas Group ("Joyalukkas"), the largest, single-owned jewellery retail chain in the Middle East.
Clifford Chance has advised a banking consortium including Commerzbank, Credit Suisse, J.P. Morgan, Merrill Lynch International, Société Générale and UniCredit Bank on a bond issued by Vonovia Finance B.V. with a total volume of EUR 3 billion.
Clear Channel International B.V., an indirect wholly-owned subsidiary of Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), issued USD 225 million 8.75% Senior Notes due 2020. The Notes are guaranteed by certain subsidiaries of the issuer and were offered only to "qualified institutional buyers" in reliance on the exemption pursuant to Rule 144A and to persons outside of the United States in compliance with Regulation S under the Securities Act of 1933.
Andermatt Swiss Alps AG, a company developing, planning and implementing a new luxurious integrated holiday resort in the Swiss mountain village of Andermatt, has completed the placement of CHF 50 Million 3.875% bonds due 2020. The bonds were issued at 100% of their principal amount and, unless previously redeemed or repurchased and cancelled, will mature on 11 December 2020 at 100% of their principal amount. HSBC plc acted as Lead Manager, Bank Julius Bär & Co. AG and Bank Vontobel AG as Senior Co-Lead Managers.