Slaughter and May, working as a team with Cleary, Gottlieb Steen & Hamilton LLP, advised Santander UK plc in relation to the issue of US$1.5 billion notes under its SEC registered US shelf facility and Santander UK Group Holdings plc in relation to the issue of US$1.0 billion notes under its SEC registered US shelf facility.
Milbank, Tweed, Hadley & McCloy LLP represented Credit Suisse, Deutsche Bank and J.P. Morgan as joint dealer managers in connection with the tender offer for any and all of the Government of Mongolia’s 4.125% Notes due 2018 and CNY 1 billion 7.50% Notes due 2018, and as joint lead managers in connection with a new issuance of US$800 million 5.625% Notes due 2023. The new issuance was originally expected to raise US$650 million but was upsized due to extremely strong demand.
Simpson Thacher represented Takko Luxembourg 2 S.C.A. in connection with its offering of €285 million aggregate principal amount of 5.375% Senior Secured Notes due 2023 and €225 million aggregate principal amount of Senior Secured Floating Rate Notes due 2023. The proceeds of the offering were used to refinance outstanding indebtedness.
Takko, a portfolio company owned by funds associated with Apax, is a leading European apparel retail group focused on the discount segment with more than 1,850 stores across 16 European countries.
Slaughter and May, Hong Kong, advised Wing Tai Properties Limited on the annual update of the US$1 billion Medium Term Note Programme of Wing Tai Properties (Finance) Limited, its wholly-owned subsidiary.
Notes issued under the programme are guaranteed by Wing Tai Properties Limited. HSBC and Standard Chartered Bank are the Arrangers under the programme.
Contacts
Roger Cheng (partner), Jocelyn Poon (associate), Nelson Ni (associate), Benedict Tang (trainee)
Global law firm White & Case LLP has advised Deutsche Bank, Crédit Agricole CIB and Bank of America Merrill Lynch, as Global Coordinators and Joint Bookrunners, on the offering of €600 million 4.125% Senior Notes due 2024 by Europcar Drive D.A.C, and BNP Paribas and HSBC, as Global Coordinators and Joint Bookrunners, on the offering of €350 million 2.375% Senior Secured Notes due 2022 by EC Finance plc.
Shearman & Sterling represented the syndicate of banks led by First Abu Dhabi Bank PJSC, HSBC Bank plc, J.P.
Addleshaw Goddard has advised the joint bookrunners and trustees on four capital markets issuances by housing associations within the last month, raising over £1bn in aggregate for the sector.
The Debt Capital Markets team, which sits in AG's wider pre-eminent Housing Finance team, advised on the £400 million issue by Notting Hill Housing Trust, the £280 million issue by the WM Housing group, the £250 million by Catalyst Housing Limited and the £250 million by Housing & Care 21.
Ashurst advised Performance Interactive Alliance (PIA), a portfolio company of private equity firm Equistone Partners Europe (Equistone), on its refinancing by a consortium led by Joh. Berenberg, Gossler & Co. KG (Berenberg) comprising the Kreissparkassen Göppingen, Biberach and Esslingen-Nürtingen. Commerzbank Aktiengesellschaft (Commerzbank) granted a bilateral working capital facility.
In addition to a reduction of financing expenses and the extension of maturity dates, the new financing provides PIA with the necessary funds to finance future acquisitions.
Global law firm Norton Rose Fulbright has advised containership charter owner, Global Ship Lease (GSL), on its $360 million bond issuance and $54.8m secured term loan facility.
GSL will use the net proceeds to refinance its existing 10% first priority secured notes due 2019. In addition, all outstanding borrowings under each of its existing revolving credit facility and existing secured term loan have been repaid and terminated.
Giles Brand, partner, Norton Rose Fulbright, comments:
Slaughter and May, working as part of an integrated team with Cravath, Swaine & Moore LLP, advised INEOS Finance plc and INEOS US Finance LLC on the raising of an additional USD 1,660 million and EUR 2,060 million of term loans under the existing credit agreement and INEOS Finance plc on its offering of EUR 550 million 2 1/8 % senior secured notes. The proceeds of the new term loans and the notes were used to redeem in full INEOS Finance plc and INEOS US Finance LLC's existing term loan debt.
Contacts