Khanty-Mansi Bank Otkrytie PJSC announced that it had successfully closed a second deal on the securitization of the mortgage portfolio supported by the Egorov Puginsky Afanasiev & Partners’ Banking and Finance, Capital Markets team.
Slaughter and May is advising esure on the acquisition of the remaining 50% of Gocompare.com Holdings Limited (Gocompare) for £95 million, increasing its holding in Gocompare to 100%.
Slaughter and May is also advising esure on its related issuance of up to £125 million of subordinated notes, which are expected to meet the requirements of Solvency II.
Freshfields Bruckhaus Deringer has advised the joint lead managers in relation to the U.S.$750,000,000 tap issue by the Republic of Kenya of its debut issue of U.S.$500,000,000 5.875% Notes due 2019 and U.S.$1,500,000,000 6.875% Notes due 2024.
Kenya managed to optimize the low and benign global rates environment and persistent investor demand for sub-Saharan African debt before the markets close over Christmas, achieving a better price than it did on its debut issue.
Guangxi Laibin Industrial Investment Co., Ltd. (stock code: 1480572) completed bookkeeping and issuance of RMB1bn corporate bonds, with approval from the Department of Fiscal and Financial Affairs of NDRC. The seven-year-term fixed-interest-rate bonds, bound by an advance repayment of principal clause, adopt a benchmark rate of 4.85% and a coupon rate of 5.97%. The fund raised from the issuance would all be used to support shanty town renovation projects in Laibin.
Linklaters has advised the joint lead managers and joint bookrunners on the debut sovereign bond issue by the Federal Democratic Republic of Ethiopia. Ethiopia has taken advantage of record demand for high yielding African debt to raise US$1 billion, the proceeds of which will be used to fund planned government capital expenditure in priority areas including industrial zone development and the development of the sugar and energy industries. The 10-year bonds were priced to yield 6.625 percent.
Clifford Chance has advised Bangkok Bank, Kasikornbank and Standard Chartered as the joint lead managers on the Kingdom of Thailand's THB76 billion (US$2.3 billion) inaugural government bond switching transaction. As part of its Public Debt Management Plan, the Kingdom of Thailand invited holders of LB155A bonds due May 2015 to exchange for four destination bonds with longer maturities including LB176A due June 2017, LB191A due Jan 2019, LB21DA due Dec 2021 and amortising bonds, LBA37DA due Dec 2037.
Norton Rose Fulbright has advised Citibank (London and Milan branches), as Principal Paying Agent, Local Paying Agent and Calculation Agent, for the issue of mini-bonds by the renewable energy company, Antin Solar Investments S.p.A. (Antin Solar). Citibank will also act as representative of the bondholders, through Citicorp Trustee Company Limited. The funds raised will be used by the company to refinance investments in the solar sector. This was the first ever deal of its kind in Italy.
Noerr advised Quirin Bank on the complete placing of a German Pellets GmbH 100 million Euro corporate bond. The quirin bank acted as Lead Manager and sole bookrunner and Steubing AG as Co-Lead Manager.
Norton Rose Fulbright has advised Perpetual Trustee Company Limited and P.T. Limited on the first auto operating lease-backed securitisation by an Australian issuer.
The ground-breaking transaction, known as ‘FP Turbo Series 2014-1 Trust’, saw Norton Rose Fulbright’s debt capital markets team act for Perpetual Trustee Company Limited and P.T. Limited as issuer trustee, security trustee and backup servicer on a A$277 million asset-backed pass through securitisation issuance.
Norton Rose Fulbright in Sydney has acted for the Bank of New York Mellon (BNY Mellon) in connection with QBE Insurance Limited’s issuance of US$700 million Tier 2 subordinated notes.
Norton Rose Fulbright advised BNY Mellon, as trustee, paying agent and registrar in the landmark deal, which involved the first ‘bail-in’ style funding transaction by an Australian insurance company.