Global law firm White & Case LLP has advised AXA on its €2 billion issuance of fixed to floating subordinated notes due 2049.

The notes bear an initial interest at a fixed rate of 3.250% per annum, payable annually until the first call date in May 2029 and at a floating rate thereafter, with a margin including a 100 basis points step-up. They have been structured to be eligible as Tier 2 capital under Solvency II. They were issued on March 26, 2018 and are admitted to trading on the Luxembourg Stock Exchange.

Global law firm White & Case LLP has advised BNP Paribas, Natixis and Société Générale, as joint global coordinators, on the €700 million offering of 2.625% senior notes due 2025 by Faurecia, a French automotive parts manufacturer.

Baker McKenzie Bangkok was mandated by RH International (Singapore) Corporation Pte. Ltd. (RHIS) and Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) on their first-ever liability management exercise. The transaction involved a cash tender offer of the existing notes of RHIS and an issuance of new money notes by RHIS.  The new notes are guaranteed by RATCH.

Düsseldorf / Frankfurt a.M., March 26, 2018 – International law firm McDermott Will & Emery has advised German media group Constantin Medien AG on the sale of 12.4 million shares in Highlight Communications AG to Highlight Event and Entertainment AG.  The transaction raised approximately €64.5 million sales proceeds.

The share sale follows a takeover bid in December 2017, in which Highlight Communications AG acquired 48.39% of Constantin Medien AG. The funds will be used to further solidify Constantin Medien AG’s finances.

Dentons is pleased to have advised the syndicate of underwriters, BofA Merrill Lynch, Citi, Morgan Stanley, SMBC Nikko, ABN AMRO and RBC Capital Markets, on the issue by RELX PLC ("RELX") of €500 million 1.500 per cent guaranteed bonds due 2027.

Cleary Gottlieb represented the Republic of Senegal in an international sovereign bond offering of $1 billion 6.750 percent amortizing notes due 2048 and €1 billion 4.750 percent amortizing notes due 2028 as well as a related €250 million bridge-to-bond loan entered into with Citibank, Standard Chartered Bank, and Société Générale in January 2018 (the “Bridge Loan”).

Global law firm White & Case LLP has advised Commerzbank Aktiengesellschaft, Deutsche Bank AG, London Branch, HSBC Bank plc, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Lloyds Bank plc and UniCredit Bank AG, as joint lead managers, on a €600 million bond issue by Deutsche Börse Aktiengesellschaft.

The notes have a term of ten years, a fixed coupon of 1.125% and will be admitted to trading on the regulated markets of the Frankfurt Stock Exchange and the Luxembourg Exchange.

Slaughter and May advised Legal & General on the annual update and amendment of its £5 billion Euro Note Programme. Under the Programme, Legal & General Group Plc have the ability to issue senior, tier 3 and tier 2 Notes and Legal & General Finance PLC may issue senior Notes guaranteed by Legal & General Group Plc, in each case to be listed and traded on the Main Market of the London Stock Exchange.

The CMS office in Tirana collaborated with the European Bank for Reconstruction and Development (EBRD) in Albania in the financing transaction of Ujësjellës Kanalizime Tiranë Sh.a (UKT), the Albanian state water company, for a total value of 30 million Euro. This transaction, one of the most important since the beginning of the year in Albania, will finance expansion works in the Bovilla reservoir.

International Law firm Hogan Lovells recently represented ING Bank N.V., a global financial institution, in connection with a US$100 million loan to Argos USA LLC, a subsidiary of Cementos Argos S.A.

Cementos Argos, a multinational cement and concrete producer in Colombia, the United States, Central America and the Caribbean, will use the loan for corporate purposes.

Hogan Lovells partners Rick Martinez and Andrew Lee led the team representing ING Bank. Partner Jeff Tolin and associate Catherine Chen provided tax advice.