Leading global law firm Baker McKenzie advised steel group SCHMOLZ+BICKENBACH on its tap issuance of EUR 150 million senior secured notes due 2022. The new notes have the same terms and form a single series with SCHMOLZ+BICKENBACH's existing 5.625% notes issued in April 2017. All notes are listed on the Luxembourg Stock Exchange (LuxSE).
Baker McKenzie successfully represented a syndicate of lenders on the successful refinancing of the approx. AUD $500 million debt facility and hedging arrangements in relation to the Malakoff Corporation Berhad's (MCB) 50 per cent interest in the Macarthur Wind Farm. The Macarthur Wind Farm is located in south-west Victoria. MCB is a Malaysian power producer which acquired 50 per cent stake in the Macarthur Wind Farm in June 2013.
World-leading Germany-based car manufacturer Volkswagen AG and its affiliate Volkswagen International Finance N.V. have issued EUR 2.75 billion in hybrid bonds. International law firm Clifford Chance has advised Volkswagen on this transaction.
The bonds consist of two tranches, one tranche with an aggregate principal amount of EUR 1.25 billion with a first call date in December 2024 and another tranche with an aggregate principal amount of EUR 1.5 billion with a first call date in June 2028. The notes are listed on the regulated market on the Luxembourg Stock Exchange.
Ashurst advised a syndicate of 11 banks on the £885m of refinancing facilities made available to UK rolling stock company, Porterbrook. Ashurst has a longstanding history advising on Porterbrook's loan facilities, having acted for the lenders on the original facilities in 2008 and on subsequent refinancings since that date.
Slaughter and May, London and Hong Kong, advised Standard Chartered on the update of its US$77.5 billion debt issuance programme, under which Standard Chartered PLC and Standard Chartered Bank have the ability to issue notes to be listed and traded on the London and Hong Kong Stock Exchanges.
Contacts
London
Jones Day represented Sanofi, a global biopharmaceutical company, in its U.S. public offering of $2 billion of notes in two fixed rate tranches. Barclays Capital Inc. and Morgan Stanley & Co. LLC acted as global coordinators for the offering. Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, and MUFG Securities Americas Inc. acted as joint bookrunners for the offering.
Contact: Linda A. Hesse
Herbert Smith Freehills has advised Virgin Australia Holdings Limited, Australia’s second largest airline group, on its establishment of its Australian Medium Term Note Programme and inaugural issuance under the Programme of A$150,000,000 8.25% Fixed Rate Notes due 2023, which completed on 30 May 2018.
The University of Cambridge is issuing a pioneering bond linked to the consumer prices index (CPI). The bond is notable as it uses the CPI rather than the retail price index (RPI).
The University is issuing £300m of 50-year index-linked debt referencing the consumer price measure of inflation and £300m of 60-year conventional fixed rate debt. Linklaters is advising Barclays, HSBC and Morgan Stanley as the banks acting as joint lead managers on the issuance.
Shearman & Sterling advised Merrill Lynch International as global coordinator and ABN AMRO, Barclays, Citigroup and Crédit Agricole as joint bookrunners on InterXion's offering of €1,000,000,000 4 ¾ % senior notes due 2025. The firm also advised ABN AMRO, Bank of America, Barclays, Citigroup and Crédit Agricole as arrangers in connection with a new €200 million revolving credit facility made available to InterXion.
Shearman & Sterling represented the underwriters, led by NatWest Markets, in connection with The Royal Bank of Scotland Group plc's offering of $1.25 billion 4.519% fixed-rate/floating-rate senior notes due 2024 and $750 million floating rate senior notes due 2024. The joint bookrunners included BofA Merrill Lynch, Citigroup, Goldman Sachs & Co. LLC and Wells Fargo Securities.