Shearman & Sterling represented Credit Suisse Securities (Europe) Limited, Commerzbank Aktiengesellschaft and Natixis on Magnolia (BC) S.A.’s €325 million offering of 9.00% Senior Secured Notes due 2020 in connection with the leveraged buyout of Ginkgo B. Company S.A.S. and its subsidiaries (the “Maisons du Monde Group”) by Bain Capital Europe Fund III, L.P. (“Bain Capital”) (the “Acquisition”).

International law firm Freshfields Bruckhaus Deringer has advised on South African power utility Eskom’s $1bn bond, issued under Eskom's newly established $4bn global medium term programme. Eskom generates, transmits and distributes electricity to industrial, mining, commercial, agricultural and residential customers and redistributors across southern Africa.

The new bond is a senior, unsecured 6.75% global bond that will be due for maturity in 2023. Freshfields advised the joint mandated lead arrangers and managers, Barclays and Citigroup.

Clifford Chance advised UniCredit Bank AG on the securitisation of German SME loans in an amount of EUR 863 million. The loans were sold by UniCredit Luxembourg S.A., a subsidiary of UniCredit Bank AG, to Geldilux-TS-2013, a Luxembourg special purpose vehicle. Geldilux financed the purchase by issuing six classes of notes.

The transaction is the 12th one under the Geldilux programme, which was originally established in 1999. This reinforces the importance of securitisation for the financing of small and medium sized enterprises.

Davis Polk advised J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and PNC Capital Markets LLC as joint book-running managers of an SEC-registered offering by Westinghouse Air Brake Technologies Corporation (Wabtec) of $250 million aggregate principal amount of 4.375% senior notes due 2023.

Davis Polk advised Barclays Capital Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC as joint bookrunners on an SEC-registered offering by Genworth Holdings, Inc. of $400 million principal amount of its 4.9% senior notes due 2023, guaranteed by its parent, Genworth Financial, Inc.

Headquartered in Richmond, Virginia, Genworth is a leading financial services company dedicated to providing insurance, investment and financial solutions to our customers, with a presence in more than 25 countries.

Hong Kong (August 8, 2013) - Paul Hastings, a leading global law firm, announced today that it represented China Rongsheng Heavy Industries Group Holdings Limited (“China Rongsheng”), a leading Hong Kong-listed heavy industries group in the PRC with a focus on shipbuilding, offshore engineering, marine engine building and engineering machinery, in its issuance of HK$1.4 billion (US$180 million) 7% guaranteed convertible bonds due 2016.

Dentons has advised the Republic of Ghana in connection with a US$1 billion bond issue and related liability management transaction.

Our projects team has advised Aviva Commercial Finance on all aspects of its latest student accommodation project at the University of York. The project reached financial close on 23 July. Aviva provided £28.5 million senior debt to Student Accommodation Provision Three LLP, a joint venture between Evans Property Group and the University of York, who will be building and developing a third college for the University at its Heslington East campus.

Cravath represented the initial purchasers, led by Wells Fargo Securities, BofA Merrill Lynch and J.P. Morgan Securities, in connection with the US$425 million 144A/Reg. S high-yield senior secured debt offering of LSB Industries, Inc., a diversified industrial company involved in the manufacturing and marketing of products related to chemical and climate control. The transaction closed on August 7, 2013.

Davis Polk advised Poly Real Estate Finance Ltd, a wholly owned subsidiary of Poly Real Estate Group Co., Ltd. (Poly Real Estate), in connection with its Regulation S offering of US$500 million 4.5% guaranteed bonds due 2018. The bonds were guaranteed by Poly Real Estate’s wholly owned subsidiary Hengli (Hong Kong) Real Estate Limited. The bonds were supported by a keepwell deed and an equity purchase undertaking from Poly Real Estate, and a keepwell deed from China Poly Group Corporation, the parent company of Poly Real Estate.