Defence sector experts from Burges Salmon have advised Ascent (a 50:50 venture between Babcock and Lockheed Martin) on the financial close of the £1.1 billion Fixed Wing package of the United Kingdom Military Flying Training System.
Ascent was appointed as the Ministry of Defence’s training service partner in 2008 and is responsible for providing flying training for Royal Air Force, Royal Navy and Army Air Corps future aircrew.
A cross-border team from Norton Rose Fulbright advised ASX-listed Tiger Resources on its $162.5 million senior debt facility with the International Finance Corporation (IFC), the private arm of the World Bank Group, and Taurus Mining Finance Fund in respect of the Kipoi Copper Project. This project is located in the central part of the Katanga Copper Belt of the Democratic Republic of the Congo (DRC).
DWF has advised energy solutions provider MEP Werke GmbH (“MEP Group”) in securing German-Dutch Bank NIBC for the financing of its new rental model for solar panels. The innovative business model, which is the first of its kind in Europe and the first structured financing solution concentrating on tenant relations in the German market, will enable homeowners to rent solar models instead of buying them, a decision that reflects a growing interest across Germany in supporting energy-saving solutions.
Linklaters has advised the Caruna Group, the largest electricity distribution business in Finland, on the refinancing of its €1.7billion acquisition debt following the acquisition and financing of Fortum Sweden’s electricity distribution assets (owned by a Borealis- led consortium) in June 2015.
The refinancing debt consists of proceeds from a syndicate of banks which lent directly into Caruna, as well as a significant amount of privately placed debt.
Shearman & Sterling advised Equistone Partners Europe (“Equistone”) on the financing of the acquisition of GALA Group, one of Europe’s largest candle manufacturers with its head office in Germany. Funds managed by Equistone Partners Europe have acquired a majority stake in GALA Group. The parties agreed not to disclose the purchase price.
On 29 January 2016, a concession contract for the Strasbourg western bypass motorway (A 355) was signed between the French State (acting through the Ministry of Ecology, Sustainable Development and Energy) and the concessionary company (a project company established by the winning consortium, comprising entities of the VINCI group).
Simmons & Simmons has advised the Ministry of Defence (‘MOD’) on the financial closing of its latest training package for Fixed Wing aircraft under the tri-service UK Military Flying Training System.
Originally appointed for the PPP Framework Agreement and the first training package for Fast Jet Training, Simmons & Simmons have also acted on the Rear Crew training package. This latest transaction covering Fixed Wing aircraft financially closed on 01 February 2016.
Allen & Overy LLP advised Bayerische Landesbank, DekaBank Deutsche Girozentrale, DZ BANK AG Deutsche Zentral-Genossenschaftsbank and KfW IPEX-Bank GmbH on the financing of the PPP project for the A94 motorway between the German towns of Forstinning and Marktl with a total volume of around EUR 409 million. In addition to the four German banks, the European Investment Bank (EIB) also has a share in the financing.
Herbert Smith Freehills has advised Taurus Mining Finance Fund L.P (“Taurus”) and International Finance Corporation (IFC) on a US$162.5 million financing to Tiger Resources’ Kipoi Copper Project in the Democratic Republic of Congo.
Spanning six jurisdictions, the deal involved a complex security structure and, in what is a difficult market for resource financing, Tiger Resources was able to secure an eight year term debt.
White & Case LLP has advised an international syndicate of noteholders, lenders and institutional investors on the structured refinancing of German offshore wind farm 'Meerwind', operated by WindMW and controlled by private equity investor Blackstone.