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Banking & Finance - Capital Markets: Equity

Sabra Health Care REIT, Inc.'s Registered Common Stock Offering

22 May 2014

Cravath represented the underwriters, led by Citigroup, BofA Merrill Lynch, Wells Fargo Securities, Barclays and RBC Capital Markets, in connection with the US$228 million registered common stock offering of Sabra Health Care REIT, Inc., a self-administered, self-managed REIT that, through its subsidiaries, owns and invests in real estate serving the health care industry. The shares were listed on the NASDAQ Global Select Market. The transaction closed on May 12, 2014.

Squire Sanders Advises on Trio of Tech AIM IPOs and on Third Acquisition for Keywords Studios

21 May 2014

Squire Sanders’ Capital Markets team has advised on three IPOs of UK technology firms on the AIM market of the London Stock Exchange in the past six weeks.  Matt Doughty, IPO expert in the Capital Markets team in London, said, “UK technology is booming through innovation and creativity and AIM is naturally attracting listings from dynamic firms across the sector, looking for growth opportunities and the capital to fund them.

Firm Advises KNG Securities LLP on the Issuance of Secured Exchangeable Bonds by Gold Exchangeable Limited

19 May 2014

Simmons & Simmons has advised KNG Securities LLP as lead manager and sole bookrunner on a $60m US dollars issue of secured exchangeable bonds by Gold Exchangeable Limited, which are exchangeable into shares in the SPDR Gold Trust (the largest physically-backed gold exchange traded fund in the world).

This is the first exchangeable bond issued in the European market where the underlying is a physically-backed gold exchange traded fund.

Ashurst advises Lamprell plc on $120 million rights issue

19 May 2014

Ashurst advised Lamprell, the leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable industry, on its 5 for 16 rights issue to raise $120 million. The issue of 81,363,469 new shares at 88p each represents a discount of 33.4% to the theoretical ex-rights price. The proceeds from the fundraising will be used for a yard investment programme, the repayment of certain of its existing term loans and the balance, together with the new debt, to strengthen the company's balance sheet.

Travers Smith Acts on IPO of Patisserie Valerie

19 May 2014

Corporate partner Richard Spedding is advising Canaccord Genuity on the £170m IPO of Patisserie Holdings plc (the "Company"), announced on 14 May. Canaccord Genuity is acting as financial adviser, nominated adviser and broker to the Company.

The Company heads a leading UK branded café and casual dining group. It operates under the following five differentiated brands across England and Scotland:

· Patisserie Valerie;

· Druckers - Vienna Patisserie;

· Philpotts;

· Baker & Spice; and

Osborne Clarke advises on £170 million Patisserie Valerie IPO

16 May 2014

Osborne Clarke (OC) has advised leading branded casual dining group Patisserie Holdings plc (PH) on its £170 million AIM IPO. The IPO, which was arranged by Canaccord Genuity, raised approximately £80 million for the company and the selling shareholders, including chairman Luke Johnson. The shares, which have been priced at 170 pence, start conditional dealings today with admission to AIM on 19 May 2014.

PH, which owns the iconic Patisserie Valerie brand, operates 138 stores in the UK and intends to continue its strong rollout strategy post IPO.

Clifford Chance advised banks in connection with capital increase of LANXESS

15 May 2014

Clifford Chance advised the joint lead banks Deutsche Bank and BofA Merrill Lynch in connection with the capital increase of LANXESS AG. The transaction involved the offering of 8.3 million new shares to institutional investors in private placements via an accelerated bookbuilding. Subscription rights of existing shareholders of LANXESS AG were excluded. The capital increase resulted in gross proceeds to LANXESS AG of 430 million Euro.

LANXESS is a German specialty chemical group which intends to refocus and restructure its business with the capital increase as the first step.

Ashurst acts for Fairview in LNG's A$49.5m capital raising

14 May 2014

Ashurst has advised Fairview Capital Asset Management LLC, a US investment fund (Fairview) in a A$49.5 million share placement of LNG Limited (LNG), an Australian LNG company with assets in the US and Queensland.

LNG has raised A$49.5m with a placement of 90 million ordinary shares at $0.55 per share to US and Australian institutional investors, including Fairview. The Placement will be made in two tranches, with 31,207,254 shares placed under the company's placement capacity, and 58,792,746 shares placed subject to shareholder approval.