Glencore Finance (Europe) S.A. issued and Glencore plc, Glencore International AG and Glencore (Schweiz) AG guaranteed notes in the total amount of EUR 2 billion under the USD 20 billion Euro Medium Term Note Program. The notes are listed with the Luxembourg Stock Exchange. Pestalozzi advised on Swiss law aspects of the notes issue.
A Ningbo-based team led by senior partners Wei Jie and Jiang Hongming advised Ningbo Meishan Island Development & Investment Co., Ltd. on the public offering of no more than RMB800mln corporate bonds. The company received an official approval for the bond issuance (No. (2015)233) from the National Development and Reform Commission (“NDRC”) on February 5, 2015 and completed the issuance on March 20.
Herbert Smith Freehills is pleased to announce that the firm has advised on a RMB690 million note offering by ITNL Offshore Two Pte. Ltd., guaranteed by IL&FS Transportation Networks Limited. The deal marks the single largest ever CNH bond issue from an Indian company.
Listed on the Singapore Exchange, the offering comprised RMB690 million 7.5% Reg S only Senior Unsecured Notes due 2018.
HONG KONG: Allen & Overy has advised Bank of America Merrill Lynch and J.P. Morgan as joint bookrunners on Export-Import Bank of India’s inaugural USD500 million Regulation S green bond issue. The transaction marks the first USD-denominated green bond out of India as well as the first benchmark-sized green bond out of Asia in 2015.
The proceeds of the bond issue will be used to fund eligible green projects in countries like Bangladesh and Sri Lanka. The issuer is aiming for the bonds to qualify for inclusion in the Bank of America Merrill Lynch Green Bond Index.
King & Wood Mallesons has advised the AA, the UK’s largest breakdown cover organisation, on the £1.14 billion refinancing of its existing debt package.
Slaughter and May, London and Hong Kong, advised Standard Chartered PLC on its issue of US$2 billion Fixed Rate Resetting Perpetual Subordinated Contingent Convertible Securities. The Securities are convertible into ordinary shares of Standard Chartered PLC if at any time Standard Chartered PLC determines that its Common Equity Tier 1 ratio, calculated on a consolidated and fully loaded basis, is less than 7%. The Securities are listed on the Main Board of the Hong Kong Stock Exchange.
Allen & Overy said today that the EUR1.25 billion secured corporate refinacing of Alpha Trains, Europe’s largest and most diversified privately owned specialist train leasing company, marks a milestone for the bank/bond financing space in Europe.
Shearman & Sterling represented Coca-Cola Enterprises, Inc. in connection with a notes offering consisting of €500 million aggregate principal amount of 1.875% notes due 2030. The notes are listed on the Irish Stock Exchange. The notes were offered outside the United States pursuant to Regulation S under the Securities Act.
Shearman & Sterling represented Jaguar Land Rover Automotive plc (“Jaguar Land Rover”) on its tender offer and consent solicitation (the “Tender Offer”) for its £500 million Notes due 2018 issued in March 2012 (the “Notes”). Jaguar Land Rover Automotive plc, an indirectly-owned subsidiary of Indian-owned Tata Motors Limited (India), bought luxury carmakers Jaguar Land Rover Limited and Land Rover in 2008.
Baker & McKenzie advised Volkswagen Bank GmbH and Volkswagen Financial Services AG again in a public ABS (asset-backed securities) transaction of the Private Driver series in Germany.
Notes with an aggregate principal amount of EUR 965 million secured by auto loan receivables were issued. The originator of the receivables is Volkswagen Bank GmbH. The issuer is Private Driver 2015-1 UG (haftungsbeschränkt).