Simmons & Simmons has advised Prysmian Group on the terms of a €100m loan by Mediobanca to refinance certain indebtedness and provide working capital and funds for its general corporate purposes.

Prysmian Group is world leader in the energy and telecom cables and systems industry.

The Simmons & Simmons team was led by Banking partners Wolfgang Kotzur (Frankfurt) and Davide D'Affronto (Milan) and includes banking associate Andrea Vignozzi.

Macfarlanes has advised specialist engineering and technology business Petainer Group on a refinancing with QInvest, Qatar’s leading investment bank, and Ceska Sporitelna, a prominent Czech bank.

This was a complex transaction which involved implementing two financings, including a Shari'ah compliant financing which used a murabaha structure.  The lenders shared a first-ranking security package spanning a number of jurisdictions and Macfarlanes was responsible for co-ordinating the legal advice in Sweden, Germany and the Czech Republic.

Dentons has advised DAMAC Real Estate Development Limited, a leading developer of high-end and luxury residential property in the Middle East, on its debut debt issuance of a USD650,000,000 five year Regulation 'S' senior unsecured Sukuk maturing in April 2019, issued at a profit rate of 4.97 per cent.

Herbert Smith Freehills Paris LLP has advised Safran, a leading international high-tech group with three core businesses: aerospace (engines and equipment), defence and security, on a €200 million bond issue. The bonds are due to mature in 2024. The issue consisted of a private placement listed on NYSE Euronext arranged by Morgan Stanley & Co. International plc. and CM-CIC Securities.

Issuing the bonds will enable Safran to diversify its financing sources, extend the average term of its debt and obtain the resources to support its continuing growth.

Allen & Overy LLP, in association with leading local law firm Zeyad S. Khoshaim Law Firm, has advised Saudi Electricity Company (SEC), the Gulf's largest utility company, on its record breaking USD2.5 billion sukuk, the largest ever Rule 144A sukuk offering.

The sukuk consists of two separate series of sukuk certificates: a USD1.5bn 10-year series and a USD1bn 30-year series priced at 4.00% and 5.50% respectively, with profit payments payable on a semi-annual basis. Deutsche Bank, HSBC and J.P. Morgan are the lead managers and bookrunners on the sukuk.

Shearman & Sterling represented the underwriters, led by RBS Securities Inc., in connection with a global offering by The Royal Bank of Scotland Group plc of US$700 million in aggregate principal amount of 1.875% Senior Notes due 2017 and US$300 million Floating Rate Notes due 2017.

The RBS Group is one of the world’s largest banking and financial services organizations. It is headquartered in Edinburgh and provides a wide range of products and services to personal, commercial and large corporate and institutional customers in over 40 countries.

Addleshaw Goddard has acted for the Arranger (The Royal Bank of Scotland plc) and mandated Investor (M&G Investments Limited) on the first own name debt capital markets issue by a Scottish Registered Social Landlord.

The deal, which completed on Thursday 27th March 2014, saw Link Group issue £45,000,000 senior secured notes, which will be used to fund Link Group's extensive and ongoing social housing development programme.

King & Wood Mallesons has advised ABL Group on the refinancing of its existing financing.

ABL Group’s previous financing was replaced by financing arranged and provided by Baden-Württembergische Bank, thereby creating a framework for the funding of further international expansion.

“The particular challenge in this transaction was finding and implementing a refinancing concept ideally suited to the group’s continued growth strategy”, commented Finance partner Clemens Niedner.

Leading international law firm Clifford Chance is advising UK engineering support services provider, Babcock International Group plc, on its acquisition of Avincis Mission Critical Services and associated £1.1 billion rights issue. The helicopter services provider is being sold by World Helicopters (a portfolio company of investment funds affiliated with Investindustrial and Kohlberg Kravis Roberts & Co). The deal values the equity at £920 million, with an enterprise value of £1625 million.

Slaughter and May advised EE Finance plc on the update to its £3 billion Euro Note Programme guaranteed by EE Limited. Barclays Bank plc is the arranger of the programme.

CONTACTS
 
Financing: Stephen Powell (partner), Oliver Storey (associate), Edward Comber (associate); Tax: Dominic Robertson (associate); Stefan Farahani (associate)