Slaughter and May advised International Finance for Immunisation Company (IFFIm) on the issuance by IFFIm Sukuk Company Limited of IFFIm's inaugural Sukuk, raising US$500,000,000 for children's immunisation in the world's poorest countries through Gavi, the Vaccine Alliance. This transaction is the largest Sukuk al-Murabaha issuance in the public markets and is the largest inaugural Sukuk offering by a supranational.
Simpson Thacher recently represented Barclays Capital Inc., J.P. Morgan Securities LLC and RBS Securities Inc. as joint bookrunners for an offering by Roche Holdings, Inc. of $1 billion principal amount of notes, guaranteed by Roche Holding Ltd. The Firm also represented J.P. Morgan Securities LLC as dealer-manager for Roche’s related debt tender offer.
Henan Yuhua New Material Co., Ltd. was granted approval for the issuance of 2014 SME private placement bonds from the Stock Exchange of Shenzhen. The issuance involved a size of RMB400mln.
A team led by Beijing-based of counsel Wang Lihong, who is also executive head of Dacheng Global Financial Lease Committee, acted as legal counsel for issuer, with Xiangcai Securities acting as underwriter for the bonds. The team also included associates Lv Xiaxi, He Yuhua, Sun Chao, Bo Jin and paralegal Zheng Wenjing.
Pinsent Masons has advised HSBC Bank Plc and Lloyds Bank Plc as joint lead bookrunners, and HM Treasury as guarantor on a £231 million bond issue to assist the University of Northampton with its waterside campus development.
The bond, together with an additional lending package of £60m from the Public Works Loan Board, were the first to be guaranteed by the UK Government in the education sector, under the Infrastructure UK guarantee scheme.
White & Case LLP has advised the financial institutions on Waste Italia S.p.A.'s Senior Secured High Yield Notes issue and super senior revolving credit facility (RCF).
The Firm advised Jefferies International Limited, as sole bookrunning manager, on the Rule 144A/Regulation S issue of €200 million, 10.5 percent Senior Secured Notes due 2019 and BNP Paribas, as original lender, sole arranger and agent, on the €15 million super senior RCF.
Gide advised CNP Assurances on the issuance of its € 500 million undated subordinated notes, admitted to trading on the Euronext Paris market. Allen & Overy Paris advised Crédit Agricole Corporate and Investment Bank, Deutsche Bank, Natixis, Nomura, The Royal Bank of Scotland and Société Générale as joint lead managers.
Gide's team was led by Hubert du Vignaux (partner), assisted by Bastien Raisse and Meriem Semrani.
Gide advised Banca IMI S.p.A, Banco Santander S.A, BNP Paribas, Lloyds Bank plc, HSBC Bank plc, Mediobanca-Banca di Credito Finanziario SpA and The Royal Bank of Scotland as joint lead managers on the issuance by BNP Paribas Cardif of 1 billion euros undated subordinated notes, admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange. Allen & Overy advised BNP Paribas Cardif.
Gide's team was led by Hubert du Vignaux (partner), assisted by Théophile Strebelle and Aude-Laurène Dourdain.
Herbert Smith Freehills has advised underwriters on the RMB800 million dim sum bond offering by Hong Kong Aviation Limited, a wholly-owned subsidiary of Hong Kong Airlines International Holdings Limited.
Proceeds from the two-year Regulation S offshore Renminbi bonds will be used for general corporate purposes. Hong Kong Airlines International, a locally-based full-service network carrier which focuses on the Greater China market, will provide a parent guarantee while HKA Group and Hong Kong Airlines will provide subsidiary guarantees.
Clifford Chance has advised a syndicate of 19 banks led by Barclays, Citi, Deutsche Bank and Goldman Sachs on a EUR 2.75 billion bond issue by SAP SE to help refinance the acquisition of Concur Technologies, Inc.
The bond issue consisted of three tranches – a four-year floating interest rate tranche with a principal amount of EUR 750 million, an eight-year tranche with a principal amount of EUR 1 billion with a 1.125% coupon and a twelve-year tranche with a principal amount of EUR 1 billion with a 1.75% coupon.
Clifford Chance has advised a banking syndicate consisting of Commerzbank, J.P.Morgan, Raiffeisen Bank International, Société Générale und UniCredit Bank Austria on the issuance of a 'green bond' by Verbund AG, the first of its kind by an Austrian issuer.
The EUR 500 million bond pays an annual coupon of 1.5% and is due in 2024.