White & Case LLP has advised Banca Nazionale del Lavoro S.p.A. as arranger and purchaser, and BNP Paribas Investment Partners SGR S.p.A. acting on behalf of purchaser BNP Paribas Bond Italia PMI, on the issue of €6 million 6.25 percent guaranteed notes due 2019 by Sigit S.p.A.
Linklaters has advised Net4Gas, the Czech gas transmission system operator, on a three tranche bond in EUR and CZK amounting to €710m. The CZK 7bn Reg S issue is one of the largest CZK denominated bond issuance.
The bond issuance is part of a €1bn refinancing of acquisition debt used by Allianz and Borealis to purchase Net4Gas from RWE in August 2013.
A combined team from Ashurst's Frankfurt and London office has advised Commerzbank, Societe Generale-CIB, Unicredit and ING in relation to the successful arrangement and closing of the refinancing of debt facilities of circa €408 million for AHT Cooling Systems (a Bridgepoint controlled company). AHT Cooling Systems develops and manufactures commercial cooling and freezing plug-in display cabinets for supermarkets as well as the ice-cream, food and beverage industries.
Milbank, Tweed, Hadley & McCloy LLP announced that it has represented the dealer managers in a pair of private exchange offers conducted by Verizon Communications Inc., one of which is the largest debt exchange offer on record. The transactions allow Verizon to take advantage of the current low interest rates and low borrowing costs while also extending and spreading out the maturity of its debt.
Paul Hastings LLP, a leading global law firm, has announced that the firm represented Goldman Sachs (Asia) L.L.C., Deutsche Bank AG, Singapore Branch, J.P.
The Firm recently represented Kolao Holdings in connection with its offering of Singapore-dollar Denominated Senior Unsecured Guaranteed Bonds due 2017, which have been offered in offshore transactions outside the United States in reliance on Regulation S under the Securities Act of 1933, as amended. The bonds are unconditionally and irrevocably guaranteed by the Credit Guarantee and Investment Facility (“CGIF”), a trust fund of the Asian Development Bank established in 2010 by the Association of Southeast Asian Nations (ASEAN) members, China, Japan, Korea and the Asian De
King & Wood Mallesons SJ Berwin has advised the Léon de Bruxelles Group on the refinancing of its senior and mezzanine debts. This refinancing was implemented by unitranche loan provided by ICG.
Léon de Bruxelles is owned by Eurazeo PME (59%) and Cerea Partenaire since 2008. With a network of 70 restaurants in France, the group employs around 1500 people and generated an annual turnover of €116 million in 2013.
Herbert Smith Freehills has advised Members Equity Bank Limited (ME Bank) in relation to its offer of new Tier 2 Floating Rate Unsecured and Subordinated Notes, which were issued on 29 August 2014.
The offer marked the first Basel III compliant Tier 2 issue by an unlisted entity. Initially intended to raise A$150 million, the offer was significantly oversubscribed and ultimately raised A$300 million.
Shearman & Sterling advised Banco Nacional de México, S.A., Integrante del Grupo Financiero Banamex, División Fiduciaria, as administrative agent, in connection with a $5 billion Mexican pesos and a $120 million dual-tranche multi-currency, senior unsecured financing for Tenedora de Cines, S.A. de C.V.
Ashurst has advised Infrastructure UK (a division of HM Treasury), Barclays as Bond Arranger and BNY Mellon as trustees on the development and financing of the Speyside Combined Heat and Power plant project in Scotland, which reached successful close on 28 August 2014.
The project, developed by Estover Energy, will generate enough renewable energy to power more than 20,000 homes and the world famous Macallan distillery will use the heat generated by the plant in the form of steam, a critical component of the distillation process.