Allen & Overy LLP has advised Schaeffler Verwaltungs GmbH and Schaeffler Holding Finance B.V. on the comprehensive refinancing and all other financing issues connected with Schaeffler’s announced IPO.
Linklaters advised the chemical and pharmaceutical company Merck KGaA, which has its headquarters in Darmstadt, on the issuance of Eurobonds of approximately 2.1 billion euros. A total of three tranches was successfully issued: a 700 million euros floating rate note with a maturity of 2 years (with an interest rate of 0.23 percent above the three-month-EURIBOR rate) and two fixed rate notes with a maturity of four years (800 million euros; interest rate of 0.75 percent) and seven years (550 million euros; interest rate of 1.375 percent).
CMS has advised PGNiG SA on obtaining financing for Norwegian company PGNiG Upstream International AS. The company will receive funding of USD 400 million.
According to PGNiG, financing was obtained from 8 banks and will be used primarily to repay a substantial portion of PGNiG Upstream International AS’s existing debt. In addition, it will enable the Norwegian company to flexibly develop plans for exploration and production activities as well as aid the implementation of the plan to develop two new oil and gas fields.
The Capital Markets team in Dubai and Riyadh has advised Abdullah Al Othaim Real Estate Investment and Development Company (OREIDCO) on its debut sukuk issuance. The sukuk was issued with a face value of SAR1 billion, with a floating profit rate linked to SAIBOR and a maturity of five years.
Gernandt & Danielsson advises in NP3 Fastigheter’s issue of corporate bonds with a value of SEK 300 million
NP3 Fastigheter AB (publ) is a real estate company focusing on the northern parts of Sweden and with a property value of approx. SEK 4 billion. NP3 Fastigheter is listed on Nasdaq Stockholm.
One of Australia's leading financial technology companies, Prospa, has recently completed a A$60 million debt and equity fund raising. The debt was provided by way of a A$50 million warehouse securitisation investment by The Carlyle Group. The capital injection was provided by a consortium, including The Carlyle Group and Ironbridge Capital.
Finance partner Jennifer Schlosser led the team advising The Carlyle Group, and Corporate partner David Stammers led the team advising Ironbridge Capital and the other equity investors.
Davis Polk advised Bestgain Real Estate Lyra Limited, a wholly owned subsidiary of China Vanke Co., Ltd. (China Vanke), in connection with its renewal and update of a US$2 billion medium-term note program. The notes were guaranteed by China Vanke's wholly owned subsidiary Vanke Real Estate (Hong Kong) Company Limited and supported by a keepwell deed and an equity purchase undertaking from China Vanke.
Trowers & Hamlins is pleased to have advised the Church of England Pension Board on a ground-breaking bond issue – the first by an institution affiliated with the Church of England.
The Church of England Pensions Board's CHARM scheme assists eligible clergy retiring from active ministry who are unable to make their own provision for retirement housing. More widely, the Board provides retirement services for those who have served or worked for the Church of England including administering three pension schemes and managing assets of over £1.8 billion.
Allen & Overy advised Asklepios Kliniken GmbH in connection with the issue of a Schuldschein loan with an issue volume of EUR 580 million.
Milbank, Tweed, Hadley & McCloy LLP recently advised on two significant international capital markets transactions in the Philippines involving International Container Terminal Services, Inc. (ICTSI) and SMC Global Power Holdings Corp. (SMC Global Power). The two transactions, both completed in August, raised a total of US$750 million, signifying the country’s continuing strong position in the global capital markets despite recent challenging market conditions.