Shearman & Sterling advised J.P. Morgan, as sole global coordinator, on WIND Hellas' high yield "tap" offering of €95 million 10% senior secured notes due 2021.
The proceeds of the offering, which closed on December 7, 2017, will primarily be used for general corporate purposes, including financing potential future acquisitions and capital expenditure investments.
Allen and Overy has advised Citigroup Global Markets Limited and Standard Chartered Bank on the issuance of USD3 billion of notes in two series by the Federal Republic of Nigeria under its Global Medium Term Note Programme, the largest ever bond issuance by Nigeria.
International law firm Hogan Lovells has advised Banco Votorantim S.A., a Brazilian financial institution that is jointly controlled by the Votorantim Group and Banco do Brasil, in its issuance of US$300 million of Basel III-compliant Tier 1 subordinated notes.
The structure of the offering is unique in that the notes are perpetual with a call option after five years and were issued with a coupon of 8.25%, which resets every five years based on a spread over 5-Year U.S. Treasury bonds.
Slaughter and May advised Direct Line Insurance Group plc on its issue of £350,000,000 Fixed Rate Reset Perpetual Restricted Tier 1 Contingent Convertible Notes (the RT1 Notes). The RT1 Notes are convertible into ordinary shares of Direct Line Insurance Group plc upon the occurrence of certain conversion trigger events. The Notes are listed on the Global Exchange Market of the Irish Stock Exchange. HSBC and NatWest Markets acted as joint structuring advisers and Deutsche Bank, HSBC and NatWest Markets acted as joint lead managers for the issuance.
Mayer Brown advised CBRE as Servicer and Special Servicer on the only public UK CMBS transaction of 2017.
The transaction, Taurus 2017-2 UK DAC, involved the issuance of £345 million of notes to investors. It was arranged by Bank of America Merrill Lynch.
The Mayer Brown team was led by Structured Finance and Securitisation partner David O'Connor and included Banking & Finance senior associate Noman Ali.
On November 30, UBS Optimus Foundation and Palladium International Limited announced the formation of the world's first healthcare development impact bond, aimed to reduce mother and baby deaths in Rajasthan, India. Acting for both Optimus - the philanthropic arm of UBS - and Palladium, Reed Smith LLP advised Optimus and Palladium on both the structuring and legal aspects of the DIB.
Shearman & Sterling advised Barclays, DNB Markets, UniCredit Bank, BNP Paribas, BofA Merrill Lynch, Lloyds Bank, NatWest Markets and Société Générale on Thomas Cook's €400 million high yield bond offering.
The offering comprised €400 million of 3.875% senior notes due 2023. The proceeds of the offering will be used to refinance existing indebtedness of the Thomas Cook Group.
Global law firm White & Case LLP has advised Santander Consumer Bank AG (Santander), as sole transaction counsel, on a €850 million securitisation of consumer loans which is rated by Standard & Poor's and DBRS Ratings.
Bearer bonds with a total nominal value of €850 million, which are backed by Santander's consumer loan receivables, have been issued by a German special purpose entity. UniCredit Bank AG acted as Arranger, and UniCredit Bank AG and Banco Santander S.A. acted as Joint Lead Managers.
Ashurst has advised global credit investor Fortress Investment Group (Fortress) on providing up to A$100 million in debt capital to fund the first MoneyMe warehouse securitisation trust.
MoneyMe is a successful fintech in the Australian personal loans market and will use the warehouse securitisation to fund its growing originations. The facility is significant because Fortress' involvement as senior financier highlights the growing universe of prominent financiers in the fintech securitisation market in Australia.
DLA Piper, together with Fort Street Advisers, has advised Downer (ASX: DOW) in relation to the AU$2 billion recapitalisation and refinancing of Reliance Rail.
Reliance Rail is a public-private partnership with the NSW Government, which owns Sydney's Waratah suburban passenger trains – one of the largest public-private partnership projects in Australia.
Reliance Rail's AU$2 billion debt was successfully refinanced with new bank debt, bonds and new equity from AMP Capital and Amber Infrastructure.