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Banking & Finance - Capital Markets: Debt

Citycon Group: Issue and Listing of EUR 300 million Guaranteed Eurobond

30 Sep 2015

We advised the guarantor, Citycon Oyj, in the issue and listing of a EUR 300 million guaranteed eurobond as to Finnish law. The issuer of the bond is Citycon Treasury B.V. and it was listed on the Irish Stock Exchange. The bond matures in seven years and carries fixed annual interest at the rate of 2.375 per cent.

Our team of advisers was headed by partner Janne Lauha and included counsel Mikko Heinonen and associates Thomas Landell and Karlo Siirala.

Herbert Smith Freehills advises China's ICBC on US$2 billion Tier 2 capital notes issue

28 Sep 2015

Herbert Smith Freehills has advised Industrial and Commercial Bank of China Limited (ICBC), the world's largest bank by assets, on a Rule 144A/Regulation S issue of US$2 billion Tier 2 capital notes.

The 4.875 per cent Tier 2 capital notes due 2025 will be listed on the Stock Exchange of Hong Kong.  ICBC, Bank of America Merrill Lynch, Goldman Sachs (Asia) LLC, HSBC and UBS were joint lead managers and joint bookrunners to the issue.

Beijing partner Tom Chau advised ICBC, assisted by counsel Zhong Wang and senior associate Isaac Chen.

Schoenherr advises banking consortium on issuance of EUR 500 million mortgage covered bond (Pfandbrief) by Erste Group Bank AG

25 Sep 2015

Schoenherr advised an international banking consortium comprising Commerzbank Ak-tiengesellschaft (technical lead), Barclays Bank plc, Crédit Agricole CIB and CaixaBank SA as Joint Lead Managers on the successful issuance of a EUR 500 million fixed-rate mortgage covered bond (Pfandbrief) by Vienna-based Erste Group Bank AG (closing date: 9 September 2015). The bond was placed with institutional investors and listed on the Second Regulated Market of the Vienna Stock Exchange.

Slaughter and May is advising BBA Aviation - proposed acquisition of Landmark Aviation, fully underwritten rights issue and associated debt facilities

24 Sep 2015

Slaughter and May is advising BBA Aviation on its proposed US$2.065 billion acquisition of Landmark Aviation from The Carlyle Group and on the associated rights issue and debt facilities. The acquisition is being funded through a fully underwritten rights issue to raise approximately £748 million and through new debt facilities.

Norton Rose Fulbright advises the Cognita Group on £340m refinancing and high yield bond

24 Sep 2015

Norton Rose Fulbright has advised the Cognita group on a $340m refinancing and high bond yield. This consists of an issuance of £280m high yield bonds listed on the Euro-MTF market of the Luxembourg Stock Exchange and a £60m super senior revolving credit facility.

Cognita is a worldwide group of schools, currently encompassing 66 schools in Europe, Latin America and South-East Asia. It employs 4,600 teaching and support staff in the care and education of 30,000 pupils.

Clifford Chance advises ABN AMRO on successful issuance of EUR 1 billion debut additional tier one (AT1) instruments

23 Sep 2015

Clifford Chance has advised ABN AMRO N.V. ("ABN AMRO'') on its successful EUR 1 billion debut offering of additional tier one (AT1) instruments, so-called CoCo's (Contingent Convertibles).

ABN AMRO mandated its own investment bank, Citibank, Goldman Sachs, HSBC, Morgan Stanley and UBS as joint bookrunners for the issue of their inaugural perpetual non-call five year AT1. Commerzbank, Natixis and Société Générale were mandated as Co-Lead Managers.

Clifford Chance advises on US$100 million issuance by International Finance Corporation

23 Sep 2015

Clifford Chance has advised on the issuance of US$100 million floating rate, amortising trust certificates due 2020 (the Issuance) issued by International Finance Corporation (IFC). The Issuance was completed on 15 September 2015 and the trust certificates were admitted to trading on NASDAQ Dubai.