Slaughter and May advised Prudential plc on a consent solicitation made to the holders of its PS300,000,000 6 7/8 per cent. Bonds due 2023 and its PS250,000,000 5 7/8 per cent. Bonds due 2029.
Contacts
Financing: Guy O'Keefe (partner), Kevin Howes (Associate)
Simpson Thacher, acting as sole international counsel, represented Credit Suisse (Hong Kong) Limited, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Merrill Lynch International, Mizuho Securities Asia Limited, Shinhan Asia Limited and Shinhan Investment Corp., as dealers, in connection with the establishment of the US$5 billion Global Medium Term Note program of Shinhan Financial Group.
Skadden advised Danaos Corporation, a leading international owner of containerships, in its debt refinancing, significantly strengthening the company's capital structure and reducing its approximately $2.2 billion of outstanding debt by approximately $551 million.
Global law firm White & Case LLP has advised a bank syndicate on the €825.5 million ten-year term refinancing of the A65 motorway concession in France.
The syndicate includes Banco Bilbao Vizcaya Argentaria S.A., Banco de Sabadell S.A., Banco Santander S.A., Bankia, BNP Paribas, CaixaBank S.A., Commbank Europe Limited, Crédit Agricole Corporate and Investment Bank, KfW IPEX-Bank GmbH, La Banque Postale and Société Générale. Institutional investors might also participate in the refinancing via the secondary market.
Connect Plus (M25) Ltd, the company tasked with managing London’s 440km-long M25 motorway, one of the busiest motorways in Europe, has refinanced its existing commercial bank debt, with Linklaters acting for the Secured Creditors.
Slaughter and May, Hong Kong, has advised Sands China Ltd. (Sands China) in relation to its issue of US$5.5 billion senior notes listed on the Hong Kong Stock Exchange, comprising US$1.8 billion 4.6000% senior notes due 2023, US$1.8 billion 5.125% senior notes due 2025 and US$1.9 billion 5.400% senior notes due 2028.
The joint bookrunning managers in respect of the senior notes issue are Barclays Capital Inc., Goldman Sachs & Co. LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Simpson Thacher represented Platin 1426. GmbH, a Blackstone portfolio company and the direct parent of Schenck Process, in connection with its Rule 144A and Regulation S offering of €125 million in aggregate principal amount of 6.875% Senior Secured Notes due 2023. The bond offering closed on August 3, 2018.
The gross proceeds of the bond offering will primarily be used to repay the outstanding borrowing under a bridge facility agreement, which was used to finance Schenck Process’ acquisition of Raymond Bartlett Snow, which was completed on June 29, 2018.
Simpson Thacher represented United Group B.V. (“United Group”), a KKR portfolio company, in connection with the solicitation of consents from the holders of United Group’s 4.375% Senior Secured Notes due 2022 (the “Notes”) to waive and approve an amendment to certain provisions contained in the Notes, as set forth in the consent solicitation statement dated July 24, 2018.
Global law firm White & Case LLP has advised UniCredit Bank AG, as sole Arranger and Dealer, on the update of Banca Sella S.p.A.'s €1 billion Euro Medium Term Note Programme.
The programme was amended to allow the bank to issue Senior Non-Preferred Notes, which will be listed on the Luxembourg Stock Exchange.
The White & Case team which advised on the transaction comprised partners Michael Immordino (London & Milan) and Ferigo Foscari, local partner Paul Alexander, associates Angelo Messore and Davide Diverio and lawyer Marco Sportelli (all Milan).
Davis Polk advised the joint book-running managers in connection with a Rule 144A/Regulation S notes offering by Sands China Ltd. of $1.8 billion of its 4.600% senior notes due 2023, $1.8 billion of its 5.125% senior notes due 2025 and $1.9 billion of its 5.400% senior notes due 2028. Sands China intends to use the net proceeds from the offering to repay outstanding term loans under its existing credit facility and for general corporate purposes, including capital expenditures.