Davis Polk advised Santander Issuances, S.A. Unipersonal in connection with its SEC-registered offering of $1.5 billion aggregate principal amount of 5.179% tier 2 subordinated notes due November 2025.
Santander Issuances, S.A. Unipersonal is a financing vehicle and wholly owned subsidiary of Banco Santander, S.A.
Davis Polk advised Delphi Automotive PLC in connection with the SEC-registered offering of $650 million aggregate principal amount of its 3.125% senior notes due 2025 and $650 million aggregate principal amount of its 4.250% senior notes due 2026. The notes are guaranteed by certain of Delphi Automotive PLC’s subsidiaries. Delphi intends to use the net proceeds from the offering to fund a portion of the cash consideration payable in connection with its acquisition of HellermannTyton Group PLC and for general corporate purposes.
Mayer Brown advised UniCredit Bank AG and other banks on the underwriting and placement of EUR 890 million Notes issued by Eurogrid GmbH under its EUR 5 billion debt issuance program, divided in two series. The first series bears interest of 1,625 % and is due 2023, the second bears interest of 2.625 % and is due 2030. The banking consortium included BNP Paribas, ING Bank N.V., Mitsubishi UFJ Securities International plc and UniCredit Bank AG.
As joint representative of the bondholders of 3W Power S.A., Team Treuhand advised on amending the terms and conditions of the EUR 50 million bond issued last year as part of the restructuring. Team Treuhand, a Noerr Group company, thereby facilitated the issue of a new convertible bond in the volume of EUR 14 million.
We advised Pöyry PLC in the issue of EUR 30 million hybrid capital securities.
Our team of advisers included Partner Merja Kivelä and Associate Aksu Tuominen as well as Partner Sari Laaksonen (tax).
Dechert LLP advised the Republic of Albania on its successful issuance of €450 million 5.75% Notes due 2020. This sovereign bond offering marked the country’s strong return to the international debt capital markets after a nearly five-year absence and against the backdrop of market turbulence surrounding the recent debt crisis in neighbouring Greece and general volatility. Partner Louise Roman led the team, assisted by Jennifer Buckett, Annabelle Nelsson and Dona Treska, a native Albanian.
Slaughter and May advised HomeServe plc on its inaugural issue of US private placement notes to Pricoa Capital Group.
Slaughter and May acted as part of a team with Bredin Prat acting as French special counsel, Day Pitney LLP acting as US special counsel and Rosenn Jenkins & Greenwald LLP acting as Pennsylvania special counsel and Uría Menéndez Abogados, S.L.P. advising on matters of Spanish law.
The note purchasers were advised by Morgan, Lewis & Bockius LLP.
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Allen & Overy has advised PKO Bank Hipoteczny S.A. on the establishment of its covered bonds programme, the first to meet the criteria of the amended Act on Covered Bonds and Mortgage Banks which comes into force on 1 January 2016. This is the first Polish covered bonds programme since 2010.
PKO Bank Hipoteczny S.A. is a part of PKO Bank Polski Group, the biggest banking group in Poland and one of the leading banking groups in Central and Eastern Europe.
Allen & Overy's team was led by partner Piotr Lesinski, supported by senior associate Lukasz Walczyna.
Julius Baer Group Ltd. issues SGD 450,000,000 perpetual tier 1 subordinated bonds.
UBS, Citigroup Global Markets Limited, DBS Bank Ltd. and Bank Julius Baer & Co. Ltd. acted as managers. The bonds will be listed on the Singapore Exchange.
Homburger acted as counsel to Julius Baer Group Ltd. The Homburger team consisted of partners René Bösch and Jürg Frick (both Financial Services), partner Dieter Grünblatt (Tax), counsel Eduard De Zordi and associate Andreas Josuran (both Financial Services).
Simmons & Simmons has advised Barclays, Bank of America Merrill Lynch and HSBC as joint lead managers on a £350m new issue of Solvency II-compliant Tier 2 Notes by RL Finance No. 3 plc, which are guaranteed on a subordinated basis by The Royal London Mutual Insurance Society Limited, the UK’s largest mutual life, pensions and investment company.