White & Case LLP has advised leading Chinese residential property developer Greentown China Holdings Limited on the US$200 million tap issuance of its 8 percent senior notes due 2019.

The additional notes were purchased by Credit Suisse, with China Orient Asset Management gaining exposure to the additional notes through financial derivatives.

The issuance was Greentown's sixth successful high yield financing in international debt capital markets. White & Case has advised the company on all high yield financings since Greentown's debut issue in 2013.

Davis Polk advised J.P. Morgan Securities LLC as dealer manager in connection with a cash tender offer by Delhaize Group for up to $450 million aggregate principal amount of its outstanding 6.5% senior notes due 2017 and 4.125% senior notes due 2019.  

Watson Farley & Williams has advised Eolica Petralia S.r.l. (an SPV of the Falck Renewables group) on the €24 million refinancing of its existing facilities for its Petralia Sottana onshore wind farm in Sicily by Banca Popolare dell’Emilia Romagna, Banca Popolare di Milano and UBI Banca Società Cooperativa per Azioni.

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.

Milbank, Tweed, Hadley & McCloy LLP represented the initial purchasers, joint bookrunners and dealer managers, Goldman Sachs and Citibank on the refinancing of Norske Skog AS’s existing notes due 2015, 2016, 2017 and 2033 through the issuance of EUR 290 million senior secured notes due 2019 and the exchange of existing notes into new notes maturing in 2021 and 2023.  A consent solution to amend the existing bonds was also completed.

Shearman & Sterling represented Jaguar Land Rover Automotive plc (“Jaguar Land Rover”) on its offering of £400 million fixed rate high yield bonds due 2023. 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.

UBS Group AG, the new top holding company of UBS group, has completed the inaugural issuance of USD 1.25 billion 7.125% Additional Tier 1 write-down notes, USD 1.25 billion 7.00% Additional Tier 1 write-down notes and EUR 1.00 billion 5.75% Additional Tier 1 write-down notes. The three notes combine different features including different currencies and interest rates as well as high and low CET1 ratio triggers.

The Swedish investor EQT is involved since early 2014 in bakery discounter Backwerk via its mid-market fund. EQT carried out a complex refinancing of the equity financing of BackWerk group.

P+P advised EQT with regard to the management participation with the following Munich team:

    * Barbara Koch-Schulte (partner, private equity/M&A, management participation)
    * Julian Winkler (associate, private equity/M&A, management participation)

White & Case LLP has advised HP Pelzer Holding GmbH, a German manufacturing company in the automotive sector controlled by the Italian group Adler Plastic S.p.A., on a high yield offering of €50 million 7.5 percent Senior Secured Notes due 2021.

This high yield offering is a tap of the €230 million 7.5 percent Senior Secured Notes due 2021 issued by HP Pelzer in July 2014, on which White & Case also advised.

White & Case LLP has advised GTECH S.p.A., a company active in the gaming technology, content, and service delivery solutions sectors to gaming markets, on its issuance of senior secured notes denominated in three tranches totalling US$3.2 billion, and two tranches totalling €1.55 billion, equivalent in aggregate to approximately US$5.2 billion.

The transaction represents the largest bond deal by an Italian issuer in the international capital markets.