Allen & Overy has advised the joint lead managers (Goldman Sachs and Barclays) on Tesco Plc's sixth credit tenant linked (CTL) CMBS financing, launched by Tesco Property Finance 6 Plc. The financing raised debt in excess of GBP490 million.
For the sixth time Tesco accessed the public debt markets to release value from its UK property portfolio. Allen & Overy has advised the arrangers on all six transactions.
Berwin Leighton Paisner (BLP) advised longstanding client Tesco Plc on the latest in a series of six CMBS transactions since 2009 in which Tesco has released value from its property portfolio.
The transaction, raising in excess of £490m, is a credit-tenant linked securitisation of a commercial mortgage loan, secured on four trading stores and three mixed-use sites under development in Gateshead, West Bromwich and Sunderland, each anchored by a Tesco store. The mixed use sites also comprise retail, leisure, offices and student accommodation.
Clifford Chance Paris a conseillé les banques chefs de file (HSBC et Bayerische Landesbank) lors de l'offre de rachat de 96,500,000 euros d'obligations hybrides subordonnées à durée indéterminée par Eurofins Scientific S.E. et de l'émission de 150,000,000 euros d'obligations hybrides subordonnées à durée indéterminée par Eurofins Scientific S.E..
Le cabinet d'avocats Clifford Chance a conseillé Société Générale et HSBC dans la mise en place d'une opération de titrisation d'un portefeuille de prêts de différentes classes. Le financement d'un montant de USD 340,000,000 repose sur le transfert au fonds commun de titrisation Water Dragon du bénéfice de droits réels sur ledit portefeuille créés sous le régime de la directive collatérale.
Hogan Lovells Warsaw banking and infrastructure team has advised the largest coal mining company in Europe, Kompania We;glowa S.A., on the private placement of secured bonds with a value of €317 million. These secured bonds will be used to finance current short-term bank debt, as well as financing the working capital of the company.
Herbert Smith Freehills has advised Huaneng Power International, Inc. ("Huaneng Power"), one of China's largest listed power producers, on its RMB1.5 billion (US$241 million) Regulation S offering of three-year fixed rate bonds due 2016. The bonds will be listed and traded on the Hong Kong Stock Exchange.
Listed in New York, Hong Kong and Shanghai, Huaneng Power is mainly engaged in developing, constructing, operating and managing large-scale power plants throughout China.
Global law firm Eversheds has advised New World China Land (NWCL) on a new dim sum bond issue today, raising a total of CNY 3 billion (£307 million). This is NWCL’s second dim sum bond offering after their previous successful record-making CNY 4.3 billion offering last year, which still remains the largest corporate dim sum bond issuance in history, which Eversheds also advised NWCL on.
Trowers & Hamlins advised Sentinel Housing Association Limited on its successful raising of £75,000,000 under a private placement of notes with UK and US investors.
Clifford Chance Paris advised the lead managers (HSBC, Citibank, BNP Paribas and the other banks in the syndicate) on the issue by Electricité de France of 2.5 billion euros (in two tranches) and 1.25 billion pounds sterling of hybrid subordinated perpetual bonds.
These issues constitute a world record since this is the largest amount of hybrid bonds ever issued by a corporate.
Baker & McKenzie's securities team recently advised China Water Property Group Limited, a company listed on The Stock Exchange of Hong Kong Limited, on its issuance of HK$350 million 12.5% senior notes due 2016. The net proceeds from the issuance will be primarily used for existing and new property projects (including construction costs and land premiums) and for general corporate purposes. Guotai Junan Securities (Hong Kong) Limited acted as the sole global coordinator, sole lead manager and sole bookrunner.