Cleary Gottlieb represented CMA CGM S.A. in connection with an offering of €500 million 5.250 percent senior notes due 2025.
The offering was being made outside of the U.S. and to QIBs in the U.S. in accordance with Regulation S and Rule 144A. The offering priced on October 17, 2017, and closed on October 24, 2017. The notes were listed on the Official List of the Luxembourg Stock Exchange and will trade on the Euro MTF market.
Davis Polk advised Banco Santander, S.A. in connection with its SEC-registered offering of $1 billion aggregate principal amount of 3.125% senior non-preferred fixed-rate notes due 2023, $1 billion aggregate principal amount of 3.800% senior non-preferred fixed-rate notes due 2028 and $500 million aggregate principal amount of senior non-preferred floating-rate notes due 2023.
Global law firm White & Case LLP has advised Carnegie Investment Bank AB, Nordea Bank AB and Pareto Securities AS, as Joint Bookrunners, on the issuance by Ovako AB of €310 million 5% senior secured notes due 2022.
The Austrian motorway management and maintenance company ASFINAG has issued a bond with a total volume of EUR 750 million as part of its EUR 12 billion guaranteed Euro Medium Term Note Programme. The bond has a maturity of seven years and an annual coupon rate of 0.25%. The bond has been placed by a consortium of banks consisting of Deutsche Bank AG, Erste Group Bank AG, Morgan Stanley & Co. International Plc and Societe Generale, as Joint Lead Managers and Raiffeisen Bank International AG und UniCredit Bank Austria AG as Co-Lead Managers.
Wolf Theiss has advised RBI and Quirin Privatbank as Joint Lead Manager and Bookrunner of a EUR 150,000,000 Corporate Bond of UBM Development AG.
Slaughter and May advised Standard Life Aberdeen plc on the issuance of $750 million 4.25% Fixed Rate Reset Subordinated Notes due 2048. The Notes are intended to qualify as Tier 2 capital under Solvency II and have been assigned a rating of Baa1(hyb) by Moody's and BBB+ by Standard & Poor's. The Notes have been admitted to listing on the Official List of the UK Listing Authority and to trading on the regulated market of the London Stock Exchange.
Acting as PRC and international counsel, King & Wood Mallesons (KWM) advised Bank of Zhengzhou Co., Ltd. (Bank of Zhengzhou, Stock Code: 6196) on its issuance of US$1.191 billion 5.50% non-cumulative perpetual offshore preference shares on 18 October 2017. Such preference shares are Bank of Zhengzhou’s additional tier 1 (AT1) capital, and listed on the Hong Kong Stock Exchange.
Cleary Gottlieb represented the initial purchasers HSBC, J.P. Morgan and Santander in the $400 million global bond offering of S.A.C.I. Falabella, one of Chile’s leading multi-format retailers with operations in Chile, Peru, Colombia, Argentina, Brazil, Uruguay and Mexico.
Global law firm White & Case LLP has advised the senior lenders Credit Suisse Securities (Europe) Limited, as global coordinator and joint bookrunner, and KKR Capital Markets Limited and Société Générale, as joint bookrunners, on the €270 million offering of 4.25% senior secured notes due 2024 by Louvre Bidco SAS, a subsidiary of funds advised by BC Partners, to finance the acquisition of the MCS Group.
Clifford Chance has advised SURTECO SE on assignable loans with a total volume of EUR 200 million. SURTECO is the holding company for a group of companies in the international furniture, flooring and wood-based products sector.
The assignable loans were placed in four tranches. There was one EUR 45 million tranche with a variable interest rate and due 2022 and three fixed-rate tranches of between EUR 40.5 million and EUR 59.5 million and with terms between 5 and 10 years.