Allen & Overy advised the Islamic Liquidity Management Corporation (IILM), an international institution which facilitates cross-border Shari'a-compliant liquidity management, on its first sukuk programme, worth USD2 billion.
Linklaters has advised the Republic of Slovenia on its dual tranche US$3.5 billion sovereign bond issue.
The 144A bond issue is Slovenia's second in the last year, following the US$2.25 billion issue in October 2012. The issue received considerable positive investor feedback following a roadshow.
Linklaters has acted for Slovenia on all of its sovereign issues in recent years, including most recently the October 2012 issue.
LONDON, 2 May 2013 – Hogan Lovells has advised Kingdom Holding Company in the refinancing of London’s historic hotel, The Savoy, valued in excess of £600 million. Kingdom is chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia.
Kingdom initially acquired the luxury hotel in 2005 in a 50/50 joint venture with Prestonfield Limited, an entity controlled by Bank of Scotland and now part of Lloyds Banking Group.
Herbert Smith Freehills has advised Goldman Sachs International (Lead Manager) in relation to Drillsearch Energy Limited’s (Drillsearch) five-year Convertible Bond offer, announced today. The offering is to raise a minimum of US$100 million, with a US$25 million upsize option.
The funds raised from the offer will be used to refinance Drillsearch’s short term A$100 million Commonwealth Bank of Australia bridge facility and, for amounts raised over A$100 million, to support ongoing work programs.
Hogan Lovells has advised Al Bayan Group Holding Company (Al Bayan or the Group), a Saudi-based conglomerate, on its RM200.0 million sukuk, issued on the 24th April 2013, out of its inaugural RM1.0 billion Sukuk Wakalah Programme (the Sukuk Programme) – the first Malaysian Ringgit Sukuk Programme to be established by a Saudi corporate issuer and the first issuance by a Saudi corporate issuer of Malaysian Ringgit denominated sukuk in the Malaysian debt capital market to date.
International law firm Clifford Chance advised the Trustee of the Dairy Crest Pension Fund in relation to the granting of security over maturing cheddar inventories to the Trustee. The security, in the form of a floating charge, is over the maturing cheddar stocks of Dairy Crest Group Plc, the leading UK-owned dairy foods company and manufacturer of Cathedral City Cheddar.
Slaughter and May advised Bupa Finance plc on its issue, on 25 April 2013, of £500,000,000 5.00% Fixed Rate Subordinated Notes due 2023. The Notes are intended to qualify as Lower Tier 2 Capital and the terms and conditions of the Notes include certain currently ascertainable Solvency II related features for Tier 2 debt. The proceeds of the Notes will be used for general corporate purposes, including the repayment of existing debt.
Barclays Bank PLC, HSBC Bank plc, Lloyds TSB Bank plc and The Royal Bank of Scotland plc acted as Joint Lead Managers.
Herbert Smith Freehills has advised the lead manager, The Royal Bank of Scotland plc, on the issue of S$50 million 4.3% notes (the "Notes") by Tata International Singapore Pte Ltd. The Notes, which are due by 2018 and guaranteed by Tata International Limited ("TIL"), were listed on the Singapore Exchange Securities Trading Limited ("SGX-ST").
Slaughter and May advised Drax Group plc and its subsidiaries (the 'Drax Group') on its agreement with Friends Life for a £75 million amortising guaranteed loan note facility maturing in June 2018 (the 'Facility').
International law firm Freshfields Bruckhaus Deringer has advised Hong Kong listed company Yingde Gases Group Company on its issuance of US$300 million 8.125% unsecured senior notes due 2018. The notes, issued through its wholly-owned subsidiary, have received ratings from various credit rating agencies and are listed on the Hong Kong Stock Exchange. Yingde Gases Group Company engages in the production and sales of industrial gases and was China's largest independent on-site industrial gas supplier in terms of revenue in 2012.