With a Frankfurt-based team led by Partner Thomas K. Schrell, HKLW advised a consortium of lenders on the refinancing of existing loans of HELLWEG Group.
 
The new credit facilities totaling EUR 215 million serve as a flexible and sustainable way to secure HELLWEG Group’s long-term financing. In addition to repaying existing bank liabilities, considerable additional liquidity will be available to fund working capital requirements, including for borrowing base purposes. The new financing structure offers HELLWEG considerably more flexibility at attractive terms.

Slaughter and May is advising Hikma Pharmaceuticals PLC (Hikma) in relation to its acquisition of Medlac Pharma Italy, Co. Ltd. (Medlac), an injectable manufacturing company in Vietnam. The acquisition includes a high-quality injectable facility, adjacent vacant land, Medlac’s product portfolio of 23 injectable products, its pipeline and all employees.

The acquisition was announced on 7 November 2018.

International law firm Ashurst has advised the lenders on the A$409 million refinancing of the Collgar Wind Farm in Western Australia.

The refinancing of the Collgar Wind Farm consists of a A$397 million syndicated term loan facility and a A$12 million working capital facility.
Collgar Wind Farm is a renewable energy project located in Merredin, Western Australia and is to date the largest single stage operating wind farm in the southern hemisphere, with 111 turbines and a total power production capacity of 206 MW.

Womble Bond Dickinson (WBD) has advised The Renewables Infrastructure Group Limited (TRIG), the listed UK and European renewables fund, on the refinancing of seven UK onshore wind farms, which are operationally managed by RES.

The refinancing involved an improvement in the commercial terms over the existing facilities, and an increase to the tenor, though debt is repaid within the subsidy period. KfW IPEX-Bank, which was one of three existing lenders alongside BNP Paribas and Lloyds, was sole lender of GBP 195mm in senior term facilities which closed on 31st October.

International law firm Clifford Chance has advised Standard Chartered as placement agent in connection with the launch of the world's first sovereign blue bond by the Republic of Seychelles. The Seychelles blue bond is partially guaranteed by the World Bank (IBRD).

DLA Piper has advised Credit Suisse Energy Infrastructure Partners AG (CSEIP) and E.ON on their investment into, and financing of one of the largest onshore wind farms in Europe, the 475-megawatt Nysäter project in Sweden. A fund advised by CSEIP will hold 80% of the joint venture, while E.ON will build and operate the wind farm under a long-term O&M agreement and retain a 20% equity stake in the project. The total investment amounts to approximately €500 million.

Herbert Smith Freehills has advised Tilt Renewables on the project development of the Dundonnell Wind Farm. The firm also advised the syndicate of lenders, including Australian and international banks on the financing of the wind farm.

Dundonnell Wind Farm will be developed approximately 23km north-east of Mortlake, in western Victoria. Construction is due to begin in early 2019, with the wind farm expected to be fully operational by September 2020.

Hogan Lovells advised Natixis acting as Sole Underwriter, Initial Mandated Lead Arranger, Bookrunner, Hedge Provider, Offshore Security Agent and Offshore Account Bank to the ACWA Power led consortium on the successful project financing of the 300MW Sakaka Solar independent power plant (IPP) project in Saudi Arabia. Financial close was achieved today.

De Brauw served as Counsel for Reed Business B.V. who announced its intention to sell all publishing activities of the Dutch agricultural media portfolio, part of the Proagrica division, to Doorakkeren B.V.

See further details below.

Client name
Reed Business B.V.

Other parties involved
Misset Uitgeverij B.V., Doorakkeren B.V., Cor Jan Willig, Derk Haank, Luc van Os

Nature of transaction

FUNKE MEDIENGRUPPE and SIGNA Holding agreed on a partnership: SIGNA will take over a 49% stake in WAZ Ausland Holding GmbH from FUNKE MEDIENGRUPPE, which in turn holds shares in the  “Kronen Zeitung” and “Kurier” newspapers. For the first time, SIGNA is therefore investing not only in real estate and retailing, but also in the media sector.

The collaboration will start after approval by the competent antitrust authorities. Both parties have agreed not to disclose the purchase price.