Paul Hastings represented Yuzhou Properties Company Limited (“Yuzhou Properties”), a leading property developer in China’s Fujian province listed on the Main Board of the Hong Kong Stock Exchange, in its issuance of US$300 million 8.625% senior notes (“Notes”) due 2019. BOC International, Citigroup, Deutsche Bank and HSBC were the joint lead managers and joint bookrunners.
Cravath represented a consortium of financing sources, led by BofA Merrill Lynch and Credit Suisse, in connection with US$12.3 billion of debt financing made available to Community Health Systems to fund its acquisition of Health Management Associates and to refinance certain indebtedness. The debt financing included an aggregate of US$4.0 billion of senior secured and senior unsecured high-yield notes and the incurrence or extension of an aggregate of US$8.3 billion of bank financing.
Baker & McKenzie successfully advised Vneshprombank on its offering of USD200 million 9 percent Eurobonds due in 2016 and a tap offering of USD25 million. Listed on the Irish Stock Exchange, these Eurobonds will be used to diversify the bank’s funding sources and for general corporate purposes.
The book was subscribed by investors from Europe, Asia, and Russia following a roadshow in Moscow, Zurich, Geneva, Frankfurt, and London.
Mayer Brown represented Bonanza Creek Energy, Inc., an independent energy company engaged in the acquisition, exploration, development and production of onshore oil and associated liquids-rich natural gas in the United States, in connection with its SEC-registered offering of $200 million of 6.75% senior notes due 2021.
The deal marks the third securities transaction and second high yield bond transaction by Bonanza Creek Energy on which the firm has advised in 2013, with an aggregate total of $830 million in funds raised.
Paul Hastings announced today that the firm represented UBS, Merrill Lynch International, DBS Bank, ICBC International and Macquarie as the joint lead managers in the issuance of US$400 million 5.125% guaranteed notes (the “Notes”) due 2019 issued by China Overseas Grand Oceans Finance II (Cayman) Limited and guaranteed by China Overseas Grand Oceans Group Ltd (“China Overseas” or the “Company”).
International law firm Simmons & Simmons has advised AnaCap Financial Partners LLP (via one of its managed funds), Banca IMI and Phoenix investment Partners (as arrangers), in the disposal of a portfolio of receivables comprising loans secured by salary advances and payment delegations granted to customers of Consum.it, an intermediary of the Monte dei Paschi di Siena group specialized in consumer credit.
Slaughter and May advised Standard Chartered PLC on its issue of SGD700,000,000 Callable Fixed-to-Fixed Rate Subordinated Notes due 2026 under its US$57,500,000,000 Debt Issuance Programme. Standard Chartered Bank acted as the sole lead manager and ICBC Asia, Maybank Kim Eng Securities Pte. Ltd and United Overseas Bank Limited acted as co-managers.
Slaughter and May worked as an integrated team with Allen & Gledhill LLP, who advised as to Singapore law.
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Clifford Chance has advised a banking consortium led by Barclays, Commerzbank, Merrill Lynch and Société Générale in connection with a bond issue in a total volume of EUR 2 billion by Bayer AG, Leverkusen.
The bond was launched in three tranches, namely two fixed-interest coupons and one floating rate coupon. The term of these bond tranches is between two and seven years.
The Clifford Chance team comprised partner Sebastian Maerker and associates Sven Kurzawe and Said Ashrafnia (all Banking & Capital Markets, Frankfurt).
White & Case LLP has advised Intesa Sanpaolo S.p.A. on a US$2.5 billion issuance of Yankee bonds under its US$15 billion Medium Term Note Programme.
The issue consists of a US$1.5 billion, 2.375 percent three-year tranche and a US$1.0 billion, 5.25 percent ten-year tranche. The notes placed in the U.S. and Canadian markets will be issued by Intesa Sanpaolo S.p.A. and guaranteed by its New York branch, in accordance with Section 3(a)(2) of the U.S. Securities Act.
Kirkland & Ellis International LLP advised KKR on its agreement to provide €100 million in direct lending for the Italian coffee vending machine operator, Gruppo Argenta.
The investment is composed of mostly new loans, which will provide the company with cash for acquisitions and to refinance its existing mezzanine debt. The terms of the investment are confidential, with completion scheduled for the end of January 2014.