Milan; Global legal practice Norton Rose Fulbright has advised UniCredit and Banca IMI on a limited recourse financing to Calabria Solar Srl to re-finance the project costs of a 24 MW solar photovoltaic project located in the municipality of San Floro, Province of Catanzaro. The sponsor of the project is ForVEI, which has acquired the operating project from Talesun through the purchase of the entire share capital of Calabria Solar.

Slaughter and May advised Technicolor S.A. on its refinancing transaction completed on 12 July 2013, which effectively enabled the Technicolor group to borrow new funds at a lower interest rate, extend its debt maturity profile and benefit from significantly greater covenant flexibility.

Freshfields has advised Germany-based automotive supplier Continental AG on the establishment of a EUR 5bn debt issuance programme and on a notes issue over EUR 750m.

International law firm Freshfields Bruckhaus Deringer has advised Germany-based automotive supplier Continental AG on a EUR 750 million notes issue under its new EUR 5 billion debt issuance programme.

Herbert Smith Freehills has advised the joint lead managers of Westpac Banking Corporation’s (Westpac) offer of new Tier 2 hybrid securities known as Westpac Subordinated Notes II (Notes), which are fully paid, redeemable, subordinated and unsecured debt obligations of Westpac (Offer). The Offer is intended to raise A$750 million, with the ability to raise more or less.

The Notes are being offered at an issue price of $100 each and are expected to be quoted on the ASX.

DLA Piper has advised Leeds County Council on the successful close of its social housing regeneration project for areas to the north and south of Leeds city centre, with a capital value of £138.5 million. The Sustainable Communities 4 Leeds (sc4L) consortium will deliver the project.

Ashurst has advised DIC Asset AG on the placement of its successful second corporate bond issue. The five-year bond has a volume of €75 million, and is listed on the Open Market of the Frankfurt stock exchange in the Prime Standard segment for corporate bonds. The bond has been publicly offered to private and institutional investors in Germany, Luxembourg and Austria.

Allen & Overy LLP advised quirin bank AG as Lead Manager in connection with the issuance of 50,000,000 Euro non-secured 7.25% Fixed Rate Notes by German Pellets GmbH, Wismar.  The Notes have a principal nominal amount of 1,000 Euro and are due 2018.  The Notes were offered and sold by the issuer by way of a public offer to investors in Luxembourg, Germany and Austria and by quirin Bank AG by way of private placements outside the United States.  The Notes have been included in trading on the Bondm segment of the open market (Freiverkehr) of the Baden-Württemberg Stock

Allen & Overy has advised Social Ventures Australia on an AUD7 million social benefit bond issuance for the funding of the UnitingCare Burnside Newpin Program which works with Australian children living in foster care to return them safely to their families.

The social benefit bonds were issued to a combination of high-net worth and institutional investors. The minimum investment in the bond was $50,000 and it has an investment return target of 10 - 12 per cent per annum depending upon the number of successful restorations of children from foster care.

Skadden represented Baidu, Inc., the leading Chinese-language Internet search provider, in its $1 billion SEC-registered offering of 3.25% notes due 2018, which closed on August 6. The firm previously represented the company in its $1.5 billion SEC-registered notes offering in November 2012. The notes are listed on the Singapore Stock Exchange.

Leading international law firm Clifford Chance recently hosted 80 counsel representing 60 law firms from 30 African countries at its two-day inaugural African Counsel Retreat in London.

The Retreat was aimed at bringing together Clifford Chance lawyers and leading African counsel whom the firm works with on a regular basis to strengthen existing ties further, improve working practices, enhance knowledge sharing and management processes as well as to exchange insights on current legal topics.