On 28 September 2017, Caisse des Dépôts successfully issued two Uridashu bondsgoverned by French law to beoffered to the public in Japan on the secondary market:

a bond issue for a total amount of USD7,284,000, bearing interest at a rate of 1.86% and maturing on 28 September 2022; and

a bond issue for a total amount of AUD29,599,000, bearing interest at a rate of 2.58% and maturing on 28 September 2022.

On 28 September 2017, Caisse des Dépôts successfully issued two Uridashu bondsgoverned by French law to beoffered to the public in Japan on the secondary market:

a bond issue for a total amount of USD7,284,000, bearing interest at a rate of 1.86% and maturing on 28 September 2022; and

a bond issue for a total amount of AUD29,599,000, bearing interest at a rate of 2.58% and maturing on 28 September 2022.

Dechert LLP advised Ares Management Limited (“Ares”) and The Royal Bank of Scotland (“RBS”) on their provision of a senior debt financing package to support Phoenix Equity Partners acquisition of a majority stake in the Forest Holidays Group. 

Phoenix Equity Partners will be investing in the Forest Holidays Group alongside LDC, the private equity arm of the Lloyds Banking Group, the Forestry Commission and Management (who were all previous investors in the Forest Holidays Group). 

Hogan Lovells advised the arrangers and joint lead managers BNP Paribas, London Branch and UniCredit Bank AG, London Branch, on the securitisation of a portfolio of consumer loans receivables worth PLN 2.3 billion, originated by Bank BGZ BNP Paribas S.A., , being a member of leading international banking group BNP Paribas.

This follows the work of Hogan Lovells (which specialises in, among other things, legal and tax advisory services in the field of securitisation) on a number of previous transactions of this type in the Polish market.

Munich – Munich-based eGym GmbH has been granted a loan of up to EUR 25 million by the European Investment Bank (EIB), with the actual financing being provided by the European Fund for Strategic Investments. The EFSI promotes the Juncker Plan, an investment programme aimed at stimulating growth in the European single market and, by doing so, creating jobs.

Simpson Thacher’s Tokyo office recently represented the underwriters, led by J.P. Morgan, Goldman Sachs, Merrill Lynch and Mizuho, in connection with the offering by ORIX Corporation of $700 million of 3.25% Senior Notes due 2024. The offering was made pursuant to ORIX Corporation’s shelf registration statement on Form F-3 under the Securities Act.

ORIX is one of the leading financial services firms in Japan and is a provider of commercial and consumer finance products and services to Japanese and overseas customers.

International legal practice has advised Highland Capital Partners as investor in eGym which has been granted a loan of up to EUR 25 million by the European Investment Bank (EIB). The financing is being provided by the European Fund for Strategic Investments.

Munich-based eGym develops state-of-the-art concepts for fitness studios and health-related facilities. The company supplies more than 1,000 gyms in Germany and other European countries with its equipment and intelligent apps.

King & Wood Mallesons (KWM) has advised the Victorian Government on the development of its first Social Impact Bond (SIB) to finance an innovative new program to help disadvantaged Victorians break the cycle of chronic homelessness.

Upon implementation, the SIB will support Sacred Heart Mission’s ‘Journey to Social Inclusion’ program, which aims to provide individuals sleeping rough with rapid access to permanent housing, as well as to improve their general health, wellbeing and social participation.

Shearman & Sterling advised Crescent Capital on a unitranche refinancing of 3B Scientific Group, a leading global manufacturer of anatomical and biological teaching aids for science, healthcare and patient education. The group was acquired by Whitney Capital Partners at the beginning of 2017.

Slaughter and May advised Bunzl Finance plc on its debut issuance of £300,000,000 2.250 per cent. Notes due 2025 (the “Notes”). The Notes are guaranteed by Bunzl plc and are listed on the London Stock Exchange.
Banco Santander, S.A., BNP Paribas, Lloyds Bank plc and Merrill Lynch International acted as Joint Lead Managers.

Contacts

Philip Snell (partner), Oliver Storey (partner), Louis de Ste Croix (associate), Tsjatsja Westerveld (associate), Richard Lismore-John (associate)