Shearman & Sterling represented Goldman Sachs International, Jefferies International Limited, and TPG Capital BD, LLC, as initial purchasers, in connection with the offering of £200 million 6.75% Senior Secured Notes due 2020 and £100 million Senior Secured Floating Rate Notes due 2020 issued by TES Finance Plc, a wholly owned subsidiary of TSL Education Group Limited (“TSL Education”).
Davis Polk advised CSX Corporation on its SEC-registered offering of $1 billion aggregate principal amount of senior notes. The offering consisted of $550 million aggregate principal amount of 3.4% notes due 2024 and $450 million aggregate principal amount of 4.5% notes due 2054. Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint book-running managers for the offering.
Baker & McKenzie successfully advised BCP Securities and BNP Paribas as arrangers and permanent dealers on the establishment of a debut USD50 million Euro-commercial paper program (the first ECP program established in Azerbaijan) for Muganbank, a leading commercial bank in Azerbaijan, and the first offering of notes under the program. The proceeds from the issue will be used for the bank’s general corporate purposes.
Clifford Chance has advised the Republic of Senegal on its inaugural CFA100 billion (approximately US$200 million) sukuk issuance, the first major sukuk issuance by a sovereign in Africa. The first of its kind deal intends to enable Senegal to attract new funding using Shari'a compliant principles.
Allen & Overy has advised Iceland Foods on its GBP950 million high yield bond, the largest sterling denominated high yield bond issuance of 2014.
The bonds consist of GBP350m senior secured floating rate notes due 2020, GBP400m 6.25% senior secured notes due 2021 and GBP200m 6.75% senior secured notes due 2024. All will be listed on the Euro MTF market of the Luxembourg stock exchange.
Linklaters advised Kartesia Credit Opportunities, a Luxembourg debt fund, as lender of a secured unitranche and Capex bond financing for the acquisition of the German restaurant chain Sausalitos by Ergon Capital Partners. Seller is the private equity investor EQT, who had held 47 per cent. of the company shares. With the current closing, the transaction is brought to a successful conclusion.
K&L Gates acted for the Republic of Indonesia in the sale of its debut euro-denominated bonds. The nation sold 1 billion euros (USD1.4 billion) of 2.875% Notes due 2021, in a drawdown under its USD25 billion Global Medium Term Note Program.
Hong Kong partner David Johnson led the K&L Gates team advising the Republic of Indonesia on the sale. Johnson was assisted by counsel Christopher Tan and associate Arjuna Chandramohan, both of the firm’s Singapore office.
Baker & McKenzie advised UBS Limited and Commerzbank AG as the joint lead managers on an establishment of a EUR600 million euro medium term notes program and an offering of EUR350 million 5.5 percent Eurobonds due in 2017 issued by Alfa Holding Issuance plc to finance a senior loan to ABH Financial Limited, a holding company of open joint stock company “Alfa Bank,” a major Russian bank.
Allen & Overy has advised BNP Paribas, Citigroup, Deutsche Bank, The Royal Bank of Scotland and Standard Chartered Bank, as joint lead managers and bookrunners, on the issuance of USD1.5 billion and EUR525 million bonds by ONGC Videsh Limited (OVL), which were guaranteed by OVL’s parent Oil and Natural Gas Corporation Limited (ONGC). The bonds were issued under Regulation S of the U.S. Securities Act of 1933, as amended.
DLA Piper has advised Ziraat Bank, Turkey's largest bank by deposits and number of branches, in its successful debut issuance of $750 million 4.250 notes due 2019 under the bank's Medium Term Note (MTN) programme. The firm also advised on the establishment of the programme in May 2014.
The DLA Piper team that advised Ziraat Bank on matters of both US and English law was led by partner and Head of US securities for EMEA, George Barboutis and included senior associate Alexander Kolmakov and associate Elizabeth Clare from the firm's London office.