White & Case LLP has advised La Banque Internationale pour le Commerce et l'Industrie du Sénégal, CBAO Groupe Attijariwafa Bank, Crédit du Sénégal and Banque Islamique du Sénégal as lenders on the restructuring of several secured financings to Industries Chimiques du Sénégal (ICS), the largest industrial complex in Senegal, which produces phosphate, phosphoric acid and fertilizers.
London – Paul Hastings LLP, a leading global law firm, announced today that it has advised Gulf Keystone on its recently completed financial restructuring.
The Scheme of Arrangement in connection with the balance sheet restructuring was announced on 14 July 2016 and became effective on 13 October 2016.
International law firm Watson Farley & Williams LLP (“WFW”) has advised Russia’s largest shipping company, Sovcomflot (“SCF Group”), on its joint venture with SPO (“JV”) and the purchase of SPO’s two multi-purpose icebreaking platform supply vessels “Pacific Endeavour” and “Pacific Enterprise”. These two vessels represented SPO’s contribution to the JV’s fleet of three vessels, all of which were previously under the management and operations of the JV since 2006.
Kirkland & Ellis represented Bayside, a credit affiliate of H.I.G. Capital, as the largest lender in the restructuring of the Bodybell group of companies, through a Spanish court process known as a homologación. The homologación was subject to a challenge by a minority dissenting lender and, in conjunction with Spanish counsel, Kirkland successfully defended the challenge in its entirety, allowing the restructuring to be fully implemented.
With a Frankfurt-based team led by Partner Thomas K. Schrell, the business law firm of Heuking Kühn Lüer Wojtek advised a bank consortium led by Kreissparkasse Biberach on restructuring HAM Group’s financing. The consortium of lenders consists of commercial and regional banks. The financing volume was not disclosed.
Heuking Kühn Lüer Wojtek supported the bank consortium comprehensively from structuring the financing to drafting the entire contract documentation and in the subsequent negotiations up to disbursement of syndicated financing.
King & Wood Mallesons (KWM) has advised the Spanish Private Equity firm Realza Capital on the structuring and first closing of its second private equity fund, with commitments of €125 million.
The final closing of this planned €200 million fund is expected by the end of 2016 and its strategy is to invest in Spanish medium-sized companies (EBITDA from €5 to €20 million).
Baker & McKenzie advises Coolinvestments on the insolvency restructuring of Dutch retail store MS Mode. The liquidators, Rabobank, parent company Coolinvestments, and GA Europe have reached an agreement on the insolvency restructuring. After the restructuring, MS Mode will continue as part of the Coolinvestments Group. In total, MS Group currently has more than 2,300 employees in 6 countries.
Gleiss Lutz has been advising a consortium of seven banks led by Norddeutsche Landesbank Girozentrale in restructuring the financing of construction of Berlin Brandenburg Airport (BER) by the airport company Flughafen Berlin Bandenburg GmbH (FBB). On 3 August 2016, the European Commission approved the new financing structure for completion of the BER airport as well as mid-term development of the German capital’s airport.
Ince & Co’s London and Piraeus corporate, finance and shipping teams have advised long-standing client Danaos Corporation on Korean container line Hyundai Merchant Marine Co., Ltd.’s US$2.1 billion restructuring.
Danaos Corporation is a leading international owner of container ships, chartering vessels to many of the world's largest liner companies. Its shares are listed on the New York Stock Exchange (NYSE: DAC).
Hong Kong – Paul Hastings LLP, a leading global law firm, announced today that it is advising Alpha Professional Development Limited (“Alpha”) as the sole investor in the proposed restructuring of the Hong Kong and Singapore listed company Z-Obee Holdings Limited (Provisional Liquidators Appointed) (“Z-Obee”), which is principally engaged in the provision of mobile handset design and production solution services and marketing and distribution of mobile handset and its components.