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Banking & Finance - Capital Markets: Debt

Cembra Money Bank refinances personal loan portfolio of eny Finance

23 Aug 2017

Cembra Money Bank AG (Cembra) signed an agreement to refinance a CHF 42 million personal loan portfolio from eny Finance AG. eny Finance AG is a Swiss pure online personal loan provider. Cembra has also agreed to partially refinance future personal loan volume from this provider. The deal is structured through a special purpose vehicle (SPV) that is fully owned and consolidated by Cembra. The transaction was closed on 2 August 2017. By this transaction, eny Finance gets access to an additional refinancing source for its growing consumer credit portfolio.

Ashurst advises Andbank on issue of Andorra's first covered bond

22 Aug 2017

Ashurst advised Andorra Banc Agrícol Reig B.V. (Andbank) on its €500 million global Euro medium term note and covered bond programme and its inaugural issue of €100 million floating rate covered bonds due July 2022, which was solely lead managed by JP Morgan.  The residential mortgage-backed bond was the principality of Andorra's first ever covered bond issue.

The Ashurst team was led by debt capital markets partner Alex Biles, assisted by associate Katie Lloyd.

Fieldfisher closes bespoke asset based finance loan for RM Capital

21 Aug 2017

Fieldfisher advises RM Capital as investment advisor to RM Secured Direct Lending PLC in making a loan to Praetura Asset Finance, the UK's premier independent asset finance specialist.

European law firm Fieldfisher has advised RM Capital as investment advisor to RM Secured Direct Lending PLC (RMDL) in making a loan to Praetura Asset Finance (PAF), the UK's premier independent asset finance specialist.

Partner Richard Todd led the investment which required bespoke structuring and documentation and marks RMDL's first move into the UK asset finance market.

Atento Luxco 1 S.A. $400 Million Notes Offering and $50 Million Super Senior Revolving Credit Facility

18 Aug 2017

Davis Polk advised the initial purchasers in connection with Atento Luxco 1 S.A.'s $400 million offering of 6.125% senior notes due 2022, which were issued pursuant to Rule 144A and Regulation S under the Securities Act. The notes are unconditionally and irrevocably guaranteed by Atento S.A., the parent company of Atento Luxco 1 S.A., and certain of its subsidiaries.

Hogan Lovells Represents LabCorp in US$1.2 Billion Offering

17 Aug 2017

Hogan Lovells is representing LabCorp, a leading health care diagnostics company, on its offering of US$1.2 billion in senior notes.

The offering consists of two tranches: US$600 million aggregate principal amount of 3.250% Senior Notes due 2024 and US$600 million aggregate principal amount of 3.600% Senior Notes due 2027. The closing of the offering is expected to occur on August 22, 2017, subject to the satisfaction of customary closing conditions.

Herbert Smith Freehills advises joint lead managers on ANZ's A$1b Offer of ANZ Capital Notes 5 and CPS3 Buy-Back Facility

17 Aug 2017

Herbert Smith Freehills has advised the joint lead managers of Australia and New Zealand Banking Group Limited’s (ANZ) offer of new Additional Tier 1 capital securities known as ANZ Capital Notes 5 (Notes) (Offer).

ANZ also announced a buy-back facility under which eligible holders of CPS3 may apply to sell some or all of their CPS3 and reinvest the proceeds in the Notes or receive cash. The Offer will seek to raise up to A$1 billion.