Davis Polk is advising an ad hoc group of term loan lenders holding approximately 61% of the outstanding term loans of Murray Energy Corporation and noteholders holding approximately 71% of Murray Energy’s outstanding 11.25% senior secured notes due 2021 in connection with a term loan amendment and exchange and a private notes exchange with Murray Energy.
DLA Piper has advised Norddeutsche LandesbanK (NORD/LB) on the project financing for the construction and operation of a wind farm in the United Kingdom for German developer Energiekontor. The overall financing volume amounts to GBP 10.4 million.
The Withernwick II project will have four Senvion MM92 turbines with a total capacity of 8.2MW with commissioning planned for 2019. It is an extension to the original 18.45MW Withernwick I project which has been operational since 2013 and was also financed by NORD/LB.
Global law firm Linklaters acted as lead counsel to Sumitomo Mitsui Banking Corporation, MUFG Bank, Ltd. and Mizuho Bank, Ltd. as Mandated Lead Arrangers on the 600 billion yen senior facilities for Bain Capital’s acquisition of Toshiba Memory, the world’s second-largest producer of NAND flash memory chips.
Davis Polk advised the underwriters in connection with the SEC-registered Schedule B debt offerings by KEXIM of $800 million aggregate principal amount of its floating-rate notes due 2021 and $700 million aggregate principal amount of its floating-rate notes due 2023.
KEXIM is an official export credit agency providing comprehensive export credit and guarantee programs to support Korean enterprises conducting overseas business.
Cravath represented Premier Foods Finance plc in connection with its £300 million Reg. S high-yield senior secured notes offering, guaranteed by Premier Foods plc and certain of its subsidiaries. Premier Foods is one of the United Kingdom's largest food producers, engaging in the manufacture, distribution and sale of a wide range of branded and non-branded food products. The notes will be listed on the Irish Stock Exchange. The transaction closed on June 4, 2018.
Today the Federal Court of Australia handed down judgement in the long-running Oztech Pty Ltd v. Public Trustee of Queensland, with a single judge finding in favour of the Public Trustee of Queensland (PTQ).
At the heart of the dispute was the conduct of the PTQ and the financial losses suffered by noteholders in a managed investment scheme, the Octaviar Investment Notes Limited Note Trust (Octaviar) (previously MFS Notes).
Ashurst advised the European independent private investment management fund Capzanine and commercial bank NIBC Bank Deutschland AG on the financing of the acquisition of a majority stake in Magix, leading provider of software for the editing of video and music content as well as photographs, by Capiton. While Capzanine provided a second out senior term loan – its first debt investment in Germany - NIBC supported the transaction with a first out senior term loan and revolving facilities.
London — Mayer Brown has advised Slovenian listed financial group KD Group on the sale of a 100% stake in its insurance company Adriatic Slovenica to Italian insurance group Generali for €245 million.
Adriatic Slovenica, Slovenia's third largest insurer, provides a full suite of property and casualty, health, life and pension products. Adriatic Slovenica owns mutual fund manager KD Skladi, which has more than €750 million of assets under management. Through its subsidiaries it also has a presence in Croatia and Macedonia.
Shearman & Sterling advised Piraeus Bank S.A. on the sale of a portfolio of non-performing corporate credit exposures to Bain Capital Credit LP. The size of the portfolio is approximately EU1.95 billion. This transaction marks the first time a portfolio of commercial real-estate backed non-performing credit exposures has been sold in Greece.
The closing of the transaction is subject to customary conditions and regulatory and other approvals, including the consent of the Hellenic Financial Stability Fund.
The Team
Mei Lian
Baker McKenzie acted as legal adviser to National Australia Bank Limited (NAB) and Morgans Financial Limited (Morgans) in their roles as joint arrangers and joint lead managers for the flotation of the Gryphon Capital Income Trust as a listed investment trust on the ASX. The Fund successfully raised A$175 million.
The responsible entity for the Fund is One Managed Investment Funds and the Fund will be managed by Gryphon Capital Investments.