Baker & McKenzie acted as transaction legal and tax counsel in the securitization of consumer loans of Home Credit & Finance Bank Limited Liability Company (“Home Credit Bank”). This is the first ever domestic securitization of consumer loans in Russia.
Clifford Chance Paris advised the lead managers (BNP Paribas, Crédit Suisse, Goldman Sachs International, HSBC and ING) on the issue of Euro 1,200,000,000 (in two tranches) hybrid undated deeply subordinated bonds by Solvay Finance.
The issued bonds are listed on the Luxembourg Stock Exchange as from 12 November 2013 and are intended to be accounted for as equity of the Solvay Group under IFRS, and to benefit from 50 per cent equity credit from the rating agencies.
The Clifford Chance team comprised Cédric Burford (partner) and Aileen O'Riordan.
Dechert’s London-based capital markets team advised the Hashemite Kingdom of Jordan on the issuance of its U.S.$1.25 billion 2.503% Guaranteed Notes due 2020. The Notes are guaranteed by the United States of America, acting through the U.S. Agency for International Development. The Notes were underwritten by Citi, HSBC and J.P. Morgan. Arnold & Porter acted as counsel to the underwriters.
Hogan Lovells advised EDF in relation to the issue of Green Bonds for a total value of 1.4 billion euros. These Green Bonds are certified by Vigeo and Deloitte & Associés.
Norton Rose Fulbright represented Meridiam Infrastructure and its project company, Long Beach Judicial Partners LLC, in the sale by Long Beach Judicial Partners LLC of $518.5 million of 6.88% Senior Secured Notes due December 31, 2047 into the private placement market.
DLA Piper has advised construction company PORR on a 50 million euro corporate bond. Capital markets specialist Christian Temmel, partner at DLA Piper Weiss-Tessbach, acted as leading transaction counsel, alongside Frankfurt partner Nina-Luisa Siedler and senior associate Petra Reinholz.
Clifford Chance advised the AA on the issuance of £350m 9½% / 10¼% PIK toggle notes due 2019 by AA PIK Co Limited guaranteed on a senior basis by AA Limited.
Clifford Chance's Hong Kong office has advised the joint lead managers and bookrunners, Hong Kong and Shanghai Banking Corporation, Standard Chartered Bank, Barclays, Bank of China (Hong Kong), ABC International, Bank of Communications, Hong Kong Branch, CCB International Capital, ICBC (Asia) and ICBC International Securities, on China Development Bank's (CDB) RMB4.5 billion notes issuance.
The original offering of RMB3 billion was increased to RMB4.5 billion due to strong investor demand, yet continued to be 1.22 times oversubscribed.
Davis Polk advised Canadian National Railway Company (CN) on a registered public offering of $350 million aggregate principal amount of its floating-rate notes due 2015 and $250 million aggregate principal amount of its 4.5% notes due 2043. The notes were offered under the Multijurisdictional Disclosure System for U.S. and Canadian issuers adopted by the SEC.
Davis Polk advised underwriters represented by Deutsche Bank AG, London Branch, Goldman, Sachs & Co., Société Générale and UniCredit Bank AG in connection with a public offering by International Business Machines Corporation of €1.5 billion principal amount of its 1.875% notes due 2020 and €1 billion principal amount of its 2.875% notes due 2025.