The City of Buenos Aires issued US$500 million 8.95 per cent notes due 2021 internationally pursuant to its US$2.29 billion MTN Programme for repaying and refinancing existing debt of the City.
White & Case LLP has advised Citigroup, as Structuring Adviser, Barclays as Joint Global Coordinator and HSBC and Société Générale as Joint Bookrunners, on the issuance by Total S.A. of its two-tranche €5 billion undated deeply subordinated notes, the largest euro-denominated corporate hybrid bond issue to date.
White & Case LLP has advised BNP Paribas, Citigroup and Deutsche Bank, as Joint Lead Managers and Joint Bookrunners, on the issuance by the Republic of Cote d’Ivoire of US$1 billion 144A/Reg S amortizing bonds due 2028 with an annual coupon of 6.375 percent and a re-offer yield of 6.625 percent.
The bonds will be repaid in three instalments of US$333 million, US$333 million and US$334 million in March 2026, March 2027 and March 2028 respectively. Rothschild acted as financial advisor to the Cote d’Ivoire on this transaction.
Cravath represented The Priceline Group Inc. in connection with its €1 billion registered senior debt offering. The Priceline Group Inc. is a leading provider of online travel and travel-related reservation and search services. The notes were listed on the New York Stock Exchange. The transaction closed on March 3, 2015.
The Cravath team included partners William P. Rogers Jr. and Craig F. Arcella and associate Brendan R. Mahan. Alex M. Dzioba also worked on this matter.
European Energy A/S, a Danish wind- and solar power company, has announced the successful listing of EUR 45 mio. floating rate corporate bonds on NASDAQ OMX Stockholm.
Bird & Bird has advised the European Bank for Reconstruction and Development (EBRD) on its provision of a US$ 30 million loan to MS Pharma Ventures W.L.L. to finance the production of new generic pharmaceutical products.
Locally manufactured medicines are scarce in Jordan and in the wider region of the Middle East and North Africa (MENA). EBRD's investment will contribute to the commercialisation of these products and improve access to the latest generation of pharmaceutical products in the region.
Slaughter and May advised Santander Consumer (UK) plc (SCUK) as originator in relation to SCUK's Motor-2015 UK auto loan ABS transaction.
White & Case LLP has advised Atlantia S.p.A.on a partial repurchase of its notes by means of a tender offer, with a total purchase amount equal to approximately €1.1 billion.
The aim of the transaction is the optimization of the financial management of previous bonds issued by Atlantia, consisting of 5.625 percent notes due 2016, 3.375 percent notes due 2017 and 4.5 percent notes due 2019, all guaranteed by Autostrade per l’Italia S.p.A..
Egorov Puginsky Afanasiev & Partners Ukraine has advised Credit Suisse and Morgan Stanley as joint dealer managers on exchange offer for USD 500 million 7.875% guaranteed notes due 2016 issued by Ferrexpo Finance plc. The exchange offer completed on 24 February 2015.
Eiffarie and the motorway concession holder APRR (Autoroutes Paris-Rhin-Rhône), which both are owned by Eiffage and Macquarie managed funds, have completed on 23 February 2015 the second refinancing, for an amount of €1.5 billion, of the debt initially incurred by Eiffarie for the acquisition of APRR and the implementation of a new revolving credit facility (RCF) for APRR in an amount of €1.8 billion. This new credit facility, replacing the €0.7 billion existing undrawn revolving facility, increases APRR's liquidity by €1.1 billion.