Travers Smith LLP has advised existing client Auto Trader Group plc, the digital automotive classified advertising business, on its £400 million refinancing with debt finance provided by a syndicate of lenders.

Listed on the London Stock Exchange since 2015 and a member of the FTSE 250 Index, Auto Trader is the UK's largest digital automotive marketplace, with more than 450,000 cars listed each day.

Cleary Gottlieb acted as counsel to the underwriters in Sanofi’s registered offering of an aggregate principal amount of $2 billion of debt securities, including $1 billion of 3.375 percent notes due 2023, and $1 billion of 3.625 percent notes due 2028.

This offering priced on June 12, 2018, and closed on June 19, 2018. Barclays and Morgan Stanley acted as global coordinators and joint book-running managers and Citigroup, Deutsche Bank, and MUFG acted as joint book-running managers for the offering.

Cleary Gottlieb represented Vale S.A. in an offer to purchase for cash any and all of its 5.625 percent notes due 2042, which commenced on June 14, 2018, and is expected to settle on June 26, 2018, and June 28, 2018.

BNP Paribas Securities Corp., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, and Santander Investment Securities Inc. acted as joint dealer managers for the tender offer. The purpose of the offer is to retire a portion of the notes with cash on hand in order to reduce Vale’s indebtedness.

Global law firm White & Case LLP has advised BNP Paribas, J.P. Morgan, Erste Group, ING, MUFG and Société Générale Corporate & Investment Banking, as joint lead managers, on a €500 million hybrid bond issue by OMV Aktiengesellschaft (OMV) with an initial fixed interest rate and interest adjustment.

Simpson Thacher represented GDS Holdings Limited (“GDS”) in connection with its offering of US$300 million aggregate principal amount of 2% Convertible Senior Notes due 2025 (the “Notes”). The offering was made pursuant to Rule 144A and Regulation S, and included the exercise in full of the option to purchase an additional US$50 million principal amount of the Notes granted by GDS. J.P. Morgan, RBC Capital Markets and Citigroup acted as representatives of the initial purchasers in the offering.

Watson Farley and Williams (“WFW”) has advised Citibank N.A, London Branch (“Citibank”) and Nordea Bank AB (Publ), New York Branch (“Nordea”) on the amendment and restating of a US$963m loan to Euronav, as a result of the Belgian shipowner’s US$504m merger with Gener8 Maritime (“Gener8”).

Watson Farley & Williams (“WFW“) has advised Liacon GmbH (“Liacon”), a German company developing and producing high performance energy storage systems, on a second financing round. WFW also advised Liacon on the first financing round in January 2018.