Allen & Overy advised Oesterreichische Kontrollbank on legal aspects of its public offering of $1.5 billion of 2.875% Guaranteed Global Notes due 2021.
The bonds are guaranteed by the Republic of Austria and will be listed on the regulated market of the Luxembourg Stock Exchange.
Cravath represented the European Investment Bank in connection with its $3 billion registered notes offering. The European Investment Bank, which functions as the bank of the European Union, supports projects that make a significant contribution to growth, employment, economic and social cohesion and environmental sustainability, both in the EU and beyond. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on September 12, 2018.
Milbank, Tweed, Hadley & McCloy LLP has advised Jaguar Land Rover Automotive plc as issuer in connection with its offering of €500 million Senior Notes due 2026 guaranteed on a senior unsecured basis by Jaguar Land Rover Limited and Jaguar Land Rover Holdings Limited. The net proceeds of the bond offering were, or will be, used for general corporate purposes, including for the support of the company’s growth and capital spending plans.
Simpson Thacher is advising a joint venture between Blackstone Property Partners and Telereal Trillium in connection with the £777 million debt financing for the acquisition by the joint venture of part of Network Rail’s commercial estate portfolio. Blackstone and Telereal will hold equal ownership stakes in the joint venture.
Davis Polk advised the joint lead managers in connection with Mizuho Financial Group, Inc.’s SEC-registered takedown offering of senior notes, which consisted of $1.1 billion aggregate principal amount of 3.922% senior fixed-to-floating rate notes due 2024, $1 billion aggregate principal amount of 4.254% senior fixed-to-floating rate notes due 2029 and $650 million aggregate principal amount of senior floating-rate notes due 2024. The notes are structured to count as total loss-absorbing capacity (“TLAC”) when TLAC regulations are implemented in Japan.
Innovative transaction applies the Acupay System structure to accommodate tranches of securities in US dollars issued outside the US.
Eni has successfully returned to the US market and priced a dual tranche fixed rate bond issue with maturities of 5 and 10 years for a total principal amount of USD 2 billion. The transaction applies the innovative Acupay System structure to accommodate tranches of securities from Italian issuers in US dollars offered and sold both inside and outside the US.
Clifford Chance has advised a banking consortium led by Morgan Stanley and including Commerzbank, ING, Société Générale, UniCredit Bank as well as other banks on a bond issuance by Siemens Financieringsmaatschappij N.V.
The bond guaranteed by Siemens AG amounts to a total volume of EUR 2.75 billion and was issued in three tranches, maturing in 2023, 2027 and 2030 and bearing interest at 0.375 percent, 1.000 percent and 1.375 percent respectively.
Siemens generated very strong demand resulting in an order book of EUR 6.8 billion.
The Warsaw Hogan Lovells office advised Pekao Bank Hipoteczny on the issue of public mortgage bonds.
This has been the first issuance of this type on the Polish market for five years. The total value of the issuance carried out by Pekao Bank Hipoteczny on August 30, 2018 amounted to PLN 350 million, and the security pool consisted of receivables from loans granted to local government units.
Clifford Chance Paris has advised Citigroup, Crédit Agricole CIB, Commerzbank, MUFG, Natixis, Santander and Société Générale on the issuance by Compagnie Générale des Etablissements Michelin of €2.5 billion bonds. The bonds have been admitted to trading on Euronext Paris on 3 September 2018.
The bonds were issued in three tranches on the following terms:
International law firm Ashurst has advised EnQuest on the execution of a financing agreement for $175 million with funds managed by Oz Management. The financing is structured on a discrete 15% interest in the Kraken Field, the affiliate transfer for which is subject to normal regulatory approval, with repayment made out of the cash flows from this 15% interest.
Ashurst has advised on the finance, commercial and certain tax aspects of the transaction, working closely with EnQuest's general counsel Stefan Ricketts and senior legal adviser Dawood Ahmed.