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Banking & Finance - Capital Markets: Equity

DLA Piper Advises W. P. Carey on a $400 Million "At-The-Market" Offering Program

05 Jun 2015

DLA Piper LLP (US) advised W. P. Carey Inc. on implementing an "at-the-market" offering program, pursuant to which W. P. Carey may, from time to time, sell shares of its common stock having an aggregate gross sales price of up to $400 million.

W. P. Carey Inc. is a self-managed real estate investment trust and a leading global owner and manager of commercial properties, primarily net leased to companies on a long-term basis. Through its investment management business, the company also manages a series of non-traded publicly registered investment programs.

Swiss Prime Site Completes Rights Offering

05 Jun 2015

On 1 June 2015, Swiss Prime Site, one of the leading real investment companies in Switzerland, completed a capital increase by way of a rights offering to its shareholders in the amount of approximately CHF 424 million. 98.8% of the shareholders of Swiss Prime Site exercised their subscription rights in the rights offering. The remaining new shares not subscribed were placed in the market. UBS acted as Sole Global Coordinator, Credit Suisse, Bank Vontobel and Zürcher Kantonalbank acted as Joint Bookrunners.

Strong investor demand and competitive pricing in evidence as Mills & Reeve advises on £80 million HE private placement

05 Jun 2015

We have advised Royal Holloway, University of London, on an £80 million private placement.

Royal Holloway, University of London, has raised £80 million by means of private placement of unrated debt to support investment in the development of its historic campus.

The placement achieved an average interest rate of just over three per cent per annum – some of the best pricing achieved by a UK higher education institution and a reflection of the increasing appetite for investors for the UK HE market.

Freshfields advises on US$215m Yunnan Water IPO

03 Jun 2015

Freshfields Bruckhaus Deringer has advised China Merchants Securities (HK) Co., Limited, in its capacity as the sole global coordinator, sponsor and bookrunner for the IPO of Yunnan Water Investment Co. Limited (Yunnan Water) on the Hong Kong Stock Exchange.

The company was listed and commenced trading on 27 May 2015, with the IPO being valued at US$215m.

Yunnan Water is one of the leading integrated service providers in the municipal wastewater treatment and water supply industries in Yunnan Province, China.

McCann FitzGerald advises Irish Government on IAG’s recommended cash offer for Aer Lingus

03 Jun 2015

McCann FitzGerald has acted as legal adviser to NewERA and the inter-Departmental Steering Group established at the request of the Minister for Transport, Tourism and Sport of Ireland to review the potential sale of the Irish State’s 25.1% shareholding in Aer Lingus Group plc in the context of an offer for Aer Lingus by International Consolidated Airlines Group S.A. (“IAG”).

Ashurst advises Goldman Sachs on £135m offer

02 Jun 2015

Ashurst is advising Goldman Sachs as financial adviser in relation to the recommended cash offer by the Daisy Group for Phoenix IT Group plc, announced today, which values Phoenix IT Group at approximately £135 million.

Phoenix IT Group is a UK provider of IT infrastructure services to mid-market businesses and other IT services companies. It provides essential services to help customers run and grow their businesses.

Clifford Chance advises HTSC on US$4.5 billion IPO, the largest IPO in Hong Kong in five years

02 Jun 2015

Clifford Chance has advised HTSC on its $4.5 billion initial public offering, the largest public offering in Hong Kong since AIA's IPO five years ago. The offering contains a "greenshoe option" (a mechanism allowing the company to sell more shares to meet investor demands) which if exercised, would make it the biggest listing in the world thus far this year. HTSC is one of the top five securities firms in China.

King & Wood Mallesons acts on TGG’s $64.7m capital raising

02 Jun 2015

King & Wood Mallesons (KWM) has advised Templeton Global Growth Fund Limited (TGG), on a 1 for 4 pro-rata renounceable entitlement offer (with entitlements trading) of new TGG shares at an offer price of $1.30 to raise up to approximately $64.7 million.

The KWM team was led by partner Joe Muraca, supported by David Bryant, Emma Newnham and Antony Freeman.

Watson Farley & Williams advises Sound Oil on a £12m placing and an open offer to raise up to £3.46 million

01 Jun 2015

Watson Farley & Williams (“WFW”), a leading international law firm, has advised AIM listed Sound Oil plc (“Sound Oil”) on a £12 million placing and an open offer to other existing shareholders to raise up to £3.46 million, each at an issue price of 19p per ordinary share.  Each share issued will be accompanied by a detachable warrant to subscribe for new ordinary shares at an exercise price of 24p.