Ashurst advised infrastructure funds F2i and Ardian as the sponsors and 2i Rete Gas S.p.A. (formerly Enel Rete Gas) as the borrower and Issuer on the refinancing of the existing bank debt of Italian gas distribution network 2i Rete Gas S.p.A. through the establishment of a €3 billion Euro Medium Term Note (EMTN) programme and a €1.75 billion bank refinancing. The banks involved include Banca IMI, Bank of America Merrill Lynch, BNP Paribas, Credit Agricole Corporate and Investment Bank, Mediobanca, Unicredit and Cassa Depositi e Prestiti.

Clifford Chance has advised Symrise AG on a EUR 500 million bond issue.The bond matures in 2019 and has a coupon of 1.75%. The syndicate comprised Mitsubishi UFJ Securities, UniCredit Bank, Banco Santander, BNP Paribas, J.P. Morgan and Helaba.

Symrise AG is globally recognised as a leading provider of fragrances, flavours and active ingredients for cosmetics and a range of other products. The company's turnover in 2013 was more than EUR 1.8 billion.

DLA Piper has advised the UBM Realitatenentwicklung Aktiengesellschaft ("UBM") on the successful placement of a €160 million corporate bond. Corporate partner Christian Temmel acted as transaction counsel for the joint lead manager Raiffeisen Bank International AG, IKB Deutsche Industriebank AG and the issuer.

Global law firm White & Case LLP has advised Wind Telecomunicazioni S.p.A., a leading Italian telecoms operator, and its wholly-owned subsidiary Wind Acquisition Finance S.A. (WAF) on a corporate refinancing that includes a new €4 billion issuance by WAF of three tranches of senior secured bonds.

The deal also involved a simultaneous tender offer for outstanding securities of WAF to facilitate the transaction.

Macfarlanes has advised the Castle Trust group in relation to the establishment of Castle Trust Direct plc's £1.5bn programme for the issuance of fixed and floating rate notes to be offered by Castle Trust as Fortress Bonds.

These bonds diversify the Castle Trust investment range and, together with their award winning house price trackers, enable them to meet increasing demand on the mortgage side of their business.

The Macfarlanes team was led by partner Rachel Kelly with tax advice provided by partner James McCredie.

Hogan Lovells' Hong Kong banking team has advised a syndicate of 11 banks in relation to a US$3.2 billion loan to the COFCO Group ("COFCO") to finance COFCO's acquisitions of a 51% stake in Noble Group Limited's agri-business, and a 51% stake in Nidera, the Dutch commodity trader and agri-business company.

DLA Piper represented Rioprevidencia (Rio de Janeiro’s state-owned pension fund), as sponsor, as well as the State of Rio de Janeiro in a 144A/Reg S US$2 billion securitization of oil royalties, the first ever cross-border transaction of its kind in Brazil.

Freshfields Bruckhaus Deringer has advised Citigroup, HSBC and J.P. Morgan in relation to the issue by the Republic of Bulgaria of EUR 1,493 million 2.95% Notes due 2024.

The Republic of Bulgaria made another impressive foray into the public international debt capital markets following a successful return in July 2012.

The Freshfields team advising on the deal was led by Freshfields debt capital markets partner Duncan Kellaway and senior associate Nick Hayday.

Slaughter and May advised Aviva plc on its issue of EUR 700 million Dated Tier 2 Reset Notes under its £5 billion Euro Note Programme. The Notes have been admitted to listing on the Official List of the UK Listing Authority and to trading on the regulated market of the London Stock Exchange.

The Notes are intended to qualify as Lower Tier 2 Capital and the terms and conditions of the Notes include certain currently ascertainable Solvency II related features for Tier 2 debt. The Notes have been assigned a rating of Baa1 by Moody’s and BBB by Standard & Poor’s.

Freshfields Bruckhaus Deringer has advised China City Construction (International) Co., Ltd (the Issuer) on its inaugural RMB2.5bn (US$400m) bond issue.

The Issuer is a wholly owned subsidiary of China City Construction Holdings Group Company Limited (CCCC) and effectively 98.53% owned by a ministry under the State Council.