Clifford Chance advised a syndicate of international banks in connection with the EUR 100 million hybrid bond issuance of UBM Development Aktiengesellschaft.

UBM is a leading hotel developer in Europe and headquartered in Vienna, Austria. The bonds consist of Undated Resettable Fixed Rate Subordinated Notes with a first call date in March 2023. The notes are listed on the Official Market of the Vienna Stock Exchange.

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised GIC, Singapore’s sovereign wealth fund, on the partnership with Berlin-based investment manager Caleus Capital Investors (‘Caleus’). GIC and Caleus have established a new Berlin based investment vehicle for making Berlin focused property investments and adding value through active asset management or repositioning.

Herbert Smith Freehills is advising Shokai Ausbao on its Granville Place project, a $400 million mixed-use development in Granville, Sydney, which is expected to transform the precinct adjacent to Granville station. 

The project occupies a large, now consolidated site at 38 Cowper Street, and is currently planned to be delivered in two stages, containing three towers with more than 600 residential units and a supermarket-anchored shopping centre.

International Law firm Hogan Lovells is representing Orexigen Therapeutics, Inc. (NASDAQ: OREX), a biopharmaceutical company focused on the treatment of obesity, in filing for voluntary relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Orexigen also intends to file a motion seeking authorization to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code.

Pinsent Masons has advised RPMI Railpen on its $200m commitment to a joint venture with The Alaska Permanent Fund Corporation and the Public Institution for Social Security of Kuwait.

Travers Smith LLP has advised Zeus Capital Limited, as financial adviser, broker, joint global co-ordinator and bookrunner, Numis Securities Limited, as joint global co-ordinator and bookrunner and Stockdale Securities Limited, as sponsor, to JTC PLC (JTC), on its £310 million main market IPO. The IPO involved the conditional placing of £243.8 million of existing and new ordinary shares.

JTC is a leading global provider of administration services to fund, corporate and private clients.

On March 9, 2018, the Board of GKN plc (“GKN”) announced that it has reached an agreement with Dana Incorporated (“Dana”) on the proposed combination of GKN’s Driveline business (“GKN Driveline”) and Dana to create Dana plc, a global leader in vehicle drive systems. The proposed transaction values GKN Driveline at a total enterprise value of $6.1 billion. Cravath is representing GKN in connection with the transaction.

Dechert LLP assisted Bryan Garnier & Co Ltd, as global coordinator, joint lead-manager and bookrunner, and RBC Europe Limited, as joint lead-manager and bookrunner, in relation to the €16 million public offering of Biom’Up. Biom’Up is a French company that specializes in surgical hemostasis. Its flagship product aims at simplifying surgical procedures in numerous specialties.

Dechert LLP is advising Canadian-based senior gold mining company Kinross Gold Corporation on its acquisition of two Brazilian hydroelectric power plants through its wholly-owned subsidiary Kinross Brasil Mineraçao. The plants are being acquired from a subsidiary of Gerdau SA for US$257 million*.

Paul Hastings LLP,  is advising leading clothing retailer New Look and its owner, the listed South African group Brait SE, on the Company Voluntary Arrangement announced by New Look Retailers Limited today. Under the proposal, New Look will restructure rents on a majority of its stores as part of an operational turnaround plan. The CVA identifies 60 out of its total 593 stores in the UK for potential closure, alongside a further 6 sites which are sub-let to third parties.