A team from Clifford Chance has advised the joint lead managers in connection with the issuance of US$600 million in Eurobonds by Belarus.

The bonds have a yield of 6.20% and are due to mature in 2030. This follows on the heels of a 2017 transaction where the Clifford Chance team advised the joint lead managers on the issuance by Belarus of two tranches of Eurobonds worth a total of US$1.4 billion, marking the country's successful return to international capital markets.

Herbert Smith Freehills is pleased to be advising Commonwealth Bank of Australia (CBA) on its offer of CommBank PERLS X Capital Notes to raise approximately A$750 million (with the ability to raise more or less) (Offer) announced on 7 March 2018 – CBA’s tenth retail hybrid offering.

CBA is one of Australia’s leading providers of integrated financial services including retail, business and institutional banking, funds management, superannuation, insurance and broking services.

Watson Farley & Williams (“WFW”) has advised a syndicate of banks consisting of the European Bank for Reconstruction and Development (“EBRD”), the Black Sea Trade and Development Bank (“BSTDB”), the Export-Import Bank of Romania EximBank SA (“EximBank Romania”), Banca Comerciala Intesa Sanpaolo Romania S.A. (“Intesa Sanpaolo Bank”) and HSBC (acting as agent and security agent) regarding a US$180m reserve-based (“RBL”) senior facility agreement made to Energean Oil & Gas (“Energean”) to develop the Prinos Basin offshore of Greece.

Herbert Smith Freehills has advised Seven Group Holdings (SGH) on its A$350 million convertible bond issue, which has given SGH greater diversity in its funding base, increased average duration given its seven year term and supported the refinancing of a legacy debt platform acquired with Coates Hire.  The bonds will be listed on SGX-ST in Singapore.

SGH is a leading Australian diversified operating and investment group with market leading businesses and investments in industrial services, oil and gas, and media.

Allen & Overy LLP has advised Sixt SE on the successful issue of a bond with a volume of EUR 250 million. The corporate bond which was offered to domestic and foreign institutional and retail investors met with high demand and was significantly oversubscribed.

The bond with a term of six years carries interest at 1.50% p.a. and is admitted to trading on the regulated market of the Luxembourg Stock Exchange.  Sixt SE intends to use the funds raised under the bond for financing its operative business.

Clifford Chance has advised HQLAx on the first live securities lending transaction settled using R3’s Corda blockchain platform. This transaction brings the HQLAX–developed collateral lending application on Corda (CorDapp), one step closer to production.

A team led by Dr. Thorsten Kuthe and Dr. Markus Rabe, Partners at the Cologne and Munich offices of the law firm of Heuking Kühn Lüer Wojtek, advised credX on establishing a digital marketplace for debt capital. At its start, Deutsche Telekom issued a borrower's note loan with a volume of EUR 50 million and a ten-year term to insurance companies of AXA Group.

WARSAW - March 2, 2018 - Greenberg Traurig advised Cyfrowy Polsat Group in connection with a signing of the Second Amendment and Restatement Deed to the loan agreements signed in September 2015 with a consortium of Polish and foreign financial institutions for a term loan of up to PLN 11.5 billion and a revolving loan of up to PLN 1 billion. These loans remain the largest and most innovative corporate loans made in the Polish currency.

Cravath represented Deutsche Bank, BNP Paribas, Credit Suisse and KKR as initial purchasers in connection with the EU150 million 144A/Reg. S high-yield senior pay-if-you-can notes offering by Hercule Debtco S.a r.l., which is indirectly owned by PAI Partners. Proceeds of the offering will be used to finance the acquisition of Albea S.A., one of the world's leading producers of plastic packaging for the beauty and personal care market, by a subsidiary of Hercule Debtco. The notes will be listed on The International Stock Exchange. The offering closed into escrow on February 14, 2018.

Davis Polk advised the representatives of the several underwriters, in connection with an SEC-registered offering by Snap-on Incorporated of $400 million aggregate principal amount of its 4.100% notes due 2048.

Davis Polk also advised the dealer managers in connection with Snap-on’s concurrent cash tender offer for its outstanding 6.70% notes due 2019. The tender offer will be funded with the proceeds of the notes offering.