Macfarlanes has advised Venn Partners LLP, PRS Operations Limited and PRS Finance plc in their capacities as manager, licensee and issuer respectively in the establishment of a bond programme for the Private Rented Sector Housing Guarantee Scheme.

Asset manager Venn was appointed to establish and manage the scheme in December 2014 by the Secretary of State for the Department for Communities and Local Government.

A cross-border Norton Rose Fulbright team has acted for financial institution ME (formerly ME Bank) on its biggest issue of residential mortgage-backed securities (RMBS) since the global financial crisis.

ME recently launched SMHL Series Securitisation Fund 2015-1 and in the process raised A$1.5 billion. The transaction structure provided for six classes of bonds with the two most senior tranches, Class A1 Bonds and Class A2 Bonds, to be listed on the Irish Stock Exchange.

Simmons & Simmons has acted as legal counsel to Crédit Agricole Corporate and Investment Bank, as arranger, on the new Italian securitisation of receivables deriving from auto-loans, originated by RCI Banque S.A., Italian Branch.

The team was coordinated by Giulia Arenaccio (of Counsel), together with associate Riccardo Franceschelli and trainee Matteo Scuriatti, and partner Michele Citarella, together with senior associate Ernesto Caso, for the Italian tax law aspects.

Linklaters team has advised on M11 motorway project (sections 7 and 8 of the Moscow-Saint Petersburg motorway, km 543 - km 684) - the first PPP project in Russia financed by combination of bank debt and infrastructure bonds secured by the concession rights.

Davis Polk advised the joint global coordinators in connection with a US$300 million Regulation S-only credit enhanced bonds offering by Boom Up Investments Limited. The bonds have the benefit of a keepwell deed provided by its parent company China Minsheng Investment Corp., Ltd (the “Company”, together with its subsidiaries, the “Group”) and an irrevocable Standby Letter of Credit from China Construction Bank Corporation, Hong Kong Branch.  

Castrén & Snellman advised Forchem Oy in connection with a EUR 70 million offering of senior secured high-yield bonds to domestic and international investors. Pareto Securities acted as the sole bookrunner.

Simpson Thacher represented the dealers and the takedown underwriters, acting as sole international counsel, in connection with the update of the US$8 billion global medium term notes program by NongHyup Bank and a takedown offering of US$300 million 2.875% Notes due 2020 under the program. The offering was conducted in reliance upon Regulation S under the U.S. Securities Act of 1933, as amended.

Davis Polk advised the joint bookrunners and representatives of several initial purchasers in connection with a Rule 144A/Regulation S offering of notes by Myriad International Holdings B.V., a wholly owned subsidiary of Naspers Limited. The offering consisted of $1.2 billion principal amount of 5.500% notes due 2025. The notes are guaranteed by Naspers Limited.

Simpson Thacher recently represented Korea Gas Corporation in connection with the update of its US$8 billion global medium term notes program and offering of US$500 million 3.5% Senior Notes due 2025 under the global medium term notes program. The offering was conducted in reliance upon Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended.

UNIQA Insurance Group AG (UNIQA) has successfully placed Subordinated Notes (Tier 2) in an aggregate principal amount of EUR 500 million with institutional investors in Europe. As in the past, UNIQA relied once again on the expertise of Wolf Theiss' Debt Capital Market Team.