Ashurst LLP advised EQT Real Estate on the refinancing of the Smart Parcs building, located in Courbevoie.
As a reminder, the initial acquisition by EQT Real Estate took place in August 2016.
This transaction was completed late December 2017.
Shearman & Sterling advised the private placement agent, Goldman Sachs, on Travelodge’s private placement of an additional £30 million of its senior secured floating rate notes due 2023 issued by TVL Finance, an affiliate of Travelodge Hotels, pursuant to an indenture dated April 28, 2017. The proceeds of the private placement of the notes, together with cash on hand, were used to redeem certain existing indebtedness and pay transaction-related fees and expenses.
Davis Polk advised the dealers in connection with a Rule 144A and Regulation S offering by Banco del Estado de Chile of $500 million aggregate principal amount of 2.668% senior notes due 2021 under Banco Estado’s medium-term notes program.
Banco Estado is the fourth-largest financial institution in Chile in terms of aggregate loans, the largest in terms of number of customers and geographic coverage (in terms of number of Chilean cities with a branch) and the market leader in Chile in residential mortgages (in terms of the number of loans made).
King & Wood Mallesons (KWM) advised China General Nuclear Power Corporation (CGN) as its international and PRC counsel on its EUR500 million seven-year euro-denominated green bonds and USD900 million US dollar-denominated debt with multi-period in the Irish and Hong Kong Stock Exchange respectively (the “Bonds”). The bonds are issued by CGNPC International Limited, a wholly-owned subsidiary company of CGN and unconditionally guaranteed by CGN. The complex multi-currency transaction with several periods in two regions, is rarely seen in the market.
First REIT from the MENA region to access the capital markets
Clifford Chance has advised Emirates REIT (CEIC) Limited (Emirates REIT), the world's largest, publically listed Shari'a-compliant real estate investment trust, on its inaugural US$400 million issuance of 5 year trust certificates. The trust certificates will pay a profit rate of 5.125% per annum and were admitted to trading on the Irish Stock Exchange on 12 December 2017.
Simpson Thacher represented Aston Martin in connection with an offering of £55 million in additional aggregate principal amount of its existing 5.75% Senior Secured Notes due 2022. The transaction closed on December 13, 2017. The net proceeds of the offering will be used to finance the acquisition of AM Brands Limited, which owns the rights to the non-automotive use of the Aston Martin brands.
The Simpson Thacher team included Gil J. Strauss and Uma Sud (Capital Markets); Patrick Scott (Corporate); and Lucy Jenkins (Credit).
Paul, Weiss advised Mountain Province Diamonds Inc. in its offering of $330 million aggregate principal amount of 8.000% senior secured second lien notes due 2022. The offering was made pursuant to Rule 144A and outside the United States pursuant to Regulation S. Credit Suisse Securities (USA) LLC and Scotia Capital (USA) Inc. acted as joint book-running managers for the offering. Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories.
Dentons has advised the Joint Lead Managers on the issuance of US$400 million Trust Certificates due 2022 (Sukuk) by Emirates REIT (CEIC) Limited (Emirates REIT), which completed on 12 December 2017. The transaction represents Emirates REIT's inaugural capital markets issuance and the first sukuk issuance by a REIT based in the MENA region.
The Sukuk were listed on the Irish Stock Exchange and were offered to sophisticated investors outside of the United States in reliance on Regulation S under the US Securities Act 1933.
Global law firm White & Case LLP has advised the joint lead managers Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Mizuho International plc and UniCredit Bank Austria AG on a €1 billion bond issue by OMV Aktiengesellschaft. It is the largest bond issue in the Austrian market for 2017.
The notes have a term of nine years, a fixed coupon of 1% and will be admitted to trading on the regulated markets of the Luxembourg Stock Exchange and the Vienna Stock Exchange
Ashurst advised Tritax Big Box REIT plc ("TBBR"), the only listed vehicle dedicated to investing in very large logistics warehouse assets, as debt issuer of £500 million of unsecured bonds issued under its inaugural £1.5 billion Euro medium term note programme and as borrower under its new unsecured £350 million revolving credit facility.