Clifford Chance has advised the underwriters on China Three Gorges Corporation's Rule 144A/Reg. S offering of US$700 million and EUR700 million notes through its wholly-owned special purpose vehicles Three Gorges Finance I (Cayman Islands) Limited and Three Gorges Finance II (Cayman Islands) Limited, respectively. The joint global coordinators were J.P. Morgan, Deutsche Bank and ICBC.
Clifford Chance has advised LATAM Airlines Group S.A. in its inaugural issuance of high yield bonds in a Rule 144A / Regulation S offering of US$500,000,000 7.25% Senior Notes due 2020 and a related exchange settlement tender offer for US$300,000,000 9.50% Senior Guaranteed Notes due 2020 of TAM Capital 2 Inc., which became a part of LATAM Airlines Group in connection with the merger of LAN Airlines and TAM Airlines in 2012. The transactions closed on June 9, 2015.
Macfarlanes has advised Alcuin Capital on the refinancing of one of its portfolio companies, Krispy Kreme Doughnuts.
The team advised on refinancing existing senior and mezzanine debt with Santander.
The Macfarlanes team was led by finance partner Bronwen Jones who comments: "We are pleased to have assisted Alcuin and the Krispy Kreme team with this important refinancing of one of Alcuin's successful portfolio companies."
King & Wood Mallesons advised SEB AG, which was acting as documentation agent, on the EUR 500,000,000 syndicated financing of Stadtwerke München GmbH (SWM) the Munich based public utility and service company. The financing arranged by HSBC Trinkaus & Burkhardt AG, UniCredit Bank AG and SEB AG has a five-year term and is being made available by a consortium of five banks.
Gide acted as deal counsel on the issuance of secured notes by Pitch Promotion in an amount of € 30 million bearing 5.80 per cent. interest per annum and maturing on 2 June 2019.
The notes are admitted to trading on the Free Market of Euronext Paris (FR0012698199).
For this transaction, Pitch Promotion was assisted by Invest Securities acting as lead manager and Carmin Finance acting as financial adviser.
Gide’s team was led by partner Hubert du Vignaux assisted by Meriem Semrani.
The Notes have been admitted to listing on the Official List of the UK Listing Authority and to trading on the regulated market of the London Stock Exchange.
The Notes are intended to qualify as Tier 2 Capital and the terms and conditions of the Notes include Solvency II related features for Tier 2 debt. The Notes have been assigned a rating of Baa1 by Moody’s and BBB by Standard & Poor’s.
Barclays, Citigroup, HSBC, Lloyds Bank and The Royal Bank of Scotland acted as joint lead managers in respect of the offering.
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Gernandt & Danielsson advises in Pro Kapital Grupp’s issue of corporate bonds with a value of EUR 7 million within a framework amount of EUR 50 million
Davis Polk advised the initial purchasers in connection with a $200 million Regulation S offering by Fantasia Holdings Group Co., Limited of its 11.50% senior notes due 2018.
Allen & Overy LLP represented Oesterreichische Kontrollbank in connection with its public offering of $1.5 billion of 0.750% Guaranteed Global Notes due 2017.
The bonds are guaranteed by the Republic of Austria and will be listed on the regulated market of the Luxembourg Stock Exchange.
Clifford Chance Clifford Chance advised Siemens on the issue of a USD 7.75 billion bond mainly placed with institutional investors in the USA in accordance with Rule 144A des Securities Act of 1933.
The bond was issued by Siemens Financieringsmaatschappij N.V. and is guaranteed by Siemens Aktiengesellschaft. This was the first offer to institutional investors in the USA Siemens has made since 2006.