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Finance & Banking

Simpson Thacher Represents Underwriters in Offering of an Aggregate of $5.5 Billion of Senior Notes by Mitsubishi UFJ Financial Group

20 Mar 2019

Simpson Thacher recently represented the underwriters, for which Morgan Stanley & Co. LLC and MUFG Securities Americas Inc. acted as representatives, in connection with the offering by Mitsubishi UFJ Financial Group, Inc. of $500 million of Floating Rate Senior Notes due 2022, $1.5 billion of 3.218% Senior Notes due 2022, $1.5 billion of 3.407% Senior Notes due 2024, $1.5 billion of 3.741% Senior Notes due 2029 and $500 million of 4.153% Senior Notes due 2039. The offering was made pursuant to MUFG’s shelf registration statement on Form F-3 under the Securities Act.

WFW advises Credit Agricole on Armatori Group newbuild tanker financings

20 Mar 2019

Watson Farley & Williams ("WFW") advised Credit Agricole Italia ("Credit Agricole") on two financings for Marittima Emiliana S.p.A ., a company owned by the Amoretti family's Armatori Group, for the construction of two 4,500 dwt chemical tankers at Ningbo Xinle Shipbuilding, a Chinese shipyard specialising in small chemical construction.

Construction will start in 1H 2019m, with delivery is scheduled for 2020. This transaction represents the Amoretti family's first newbuild order in nearly ten years.

Linklaters advises Charter Court Financial Services Group plc on its merger with OneSavings Bank plc

20 Mar 2019

Linklaters has advised Charter Court Financial Services Group plc on its merger with OneSavings Bank plc, a deal set to create a leading specialist lender in the UK.

Charter Court Financial Services is one of the fastest growing specialist mortgage banks in the UK focused on meeting increasing customer demand for specialist mortgages and attractive savings products. OneSavings Bank is primarily focused on carefully selected sub-sectors of the mortgage market, supported by a stable retail savings franchise with over 150 years of heritage.

Clifford Chance advises managers on historic GBP95 million DWF Group IPO

20 Mar 2019

International law firm Clifford Chance acted as legal counsel to Stifel Nicolaus Europe Limited, Jefferies International Limited and Zeus Capital Ltd on global legal business DWF Group’s GBP95 million initial public offering and admission to listing on the premium segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange, valuing the business at approximately GBP366 million.
The IPO is the largest listing of a law firm in the UK and the first-ever listing of a law firm on the main market of the London Stock Exchange.

Binjiang Service Group Completes HK$464.2 Million Hong Kong IPO and Regulation S Offering

19 Mar 2019

The Firm represented Binjiang Service Group Co. Ltd. (“Binjiang Service Group”) in connection with its initial public offering in Hong Kong and Regulation S offering of 66,700,000 shares (before exercise of the underwriters’ overallotment option). The total offering size was HK$464.2 million (approximately US$59.5 million). The shares of Binjiang Service Group are listed on the Hong Kong Stock Exchange. CLSA Capital Markets Limited acted as the sole sponsor. CSLA Limited acted as the sole global coordinator.

Sidley Advises on the IPO of Chalet Hotels

19 Mar 2019

Sidley represented JM Financial, Axis Capital and Morgan Stanley as the underwriters in the US$230 million initial public offering of equity shares of Chalet Hotels Limited pursuant to Section 4(a) and Regulation S.

Chalet Hotels is an owner, developer and asset manager of high-end hotels in India. Its platform comprises of five operating hotels, including a hotel with a co-located serviced residence, located in the key Indian cities of Mumbai, Hyderabad and Bengaluru.

Sidley Advises on the IPO of Aavas Financiers

19 Mar 2019

Sidley represented ICICI Securities, Citigroup, Edelweiss, Spark Capital and HDFC Bank as the underwriters in the US$235 million initial public offering of equity shares of Aavas Financiers Limited pursuant to Section 4(a) and Regulation S.

Aavas Financiers Limited is a housing finance company which offers housing loans to customers belonging to low and middle income segments in semi-urban and rural areas of several states in India.

Davis Polk Advises Digicel on Its $600 Million Senior Secured Notes Offering

19 Mar 2019

Davis Polk advised Digicel Holdings (Bermuda) Limited (“Holdings”) and Digicel International Finance Limited (“DIFL”) in connection with the offering by Holdings and DIFL of an aggregate of $600 million of 8.750% senior secured notes due 2024. The notes were sold pursuant to Rule 144A and Regulation S under the Securities Act of 1933.

FIVE ARROWS PRINCIPAL INVESTMENTS CLOSES THIRD EUROPEAN PRIVATE EQUITY FUND AT €1.25 BILLION

19 Mar 2019

The Paris Private Equity Funds team advised Rothschild & Co in connection with the final closing of Five Arrows Principal Investments III (“FAPI III”), its third European corporate private equity vehicle. FAPI III was oversubscribed and reached a hard cap with total capital commitments of €1.25 billion. Investors in FAPI III represent a globally diversified group of institutions, corporations, international family offices and entrepreneurs from Europe, North America, and Asia.