Clifford Chance has advised Heidelberger Druckmaschinen Aktiengesellschaft on its comprehensive refinancing arrangements.  Following the successful placement of a high-yield bond and arrangement of a syndicated credit line in early 2011 and the issuance of a convertible bond in summer 2013, Heidelberger Druckmaschinen AG has further optimised its financing structure by increasing the volume of its high-yield bond by a further EUR 51 million and by extending the syndicated credit line – currently around EUR 340 million – ahead of term.

Watson, Farley & Williams has advised Seaspan Corporation (“Seaspan”) on its agreement to extend and refinance its $1.0 billion credit facility maturing in May 2015 until May 2019.

BNP Paribas Securities Corp. acted as the lead arranger of the amended facility.

Vancouver-headquartered Seaspan provides many of the world’s major shipping lines with creative outsourcing alternatives to vessel ownership by offering long-term leases on large, modern containerships combined with industry leading ship management services.

Paul Hastings represented Wells Fargo Securities, LLC as sole lead arranger and sole bookrunner, and Wells Fargo Bank, National Association, as the administrative agent, in connection with a $300,000,000 senior secured revolving credit facility for Gran Tierra Energy International Holdings Ltd.

Finance partner Paris Theofanidis led the Paul Hastings team, which also included associates R. Cramer Miller and Brian Carter.

Norton Rose Fulbright, Hong Kong, has advised Société Générale and a syndicate of twelve other lenders on Sino Biopharmaceutical Limited’s first syndicated loan facility.

Sino Biopharmaceutical Limited was listed on the Hong Kong Stock Exchange in 2003 and is principally engaged in the research, development, manufacturing and marketing of a vast array of health enhancing modernised Chinese medicines and chemical medicines.

Paul Hastings advised Morgan Stanley, Goldman Sachs and UBS Investment Bank in connection with the financing of the acquisition by private equity firm Centerbridge Partners, L.P. of a 40% interest in, and the related recapitalization of, syncreon Ireland B.V., a specialized provider of integrated logistics services to global industries, which, following the consummation of such transactions, will be indirectly controlled by a fund affiliated with GenNx360 Capital Partners, L.P., investment funds sponsored by Centerbridge and certain other investors.

Paul Hastings advised RBC Capital Markets, BNP Paribas Securities Corp. and Macquarie Capital (USA) Inc. as joint lead arrangers and Royal Bank of Canada as administrative agent in connection with the financing for the completion of First Reserve’s acquisition of Utility Services Associates, Inc. First Reserve Fund XII, in partnership with management and Michael Lennon, acquired Utility Services Associates, Inc. (“USA”), which consists of C.W. Wright Construction Company, Incorporated, Booth & Associates, Inc., and Coastal Power & Electric, Inc.

The Singapore, Jakarta and Bangkok offices of Norton Rose Fulbright advised Bangkok Bank Public Company Limited, The Siam Commercial Bank Public Company Limited, IndonesiaExim Bank, DBS Limited and Deutsche Bank (Singapore) on a US$265 million term loan facility (including letter of credit facility) to PT Chandra Asri Petrochemical TBK (CAP).

Slaughter and May advised Bupa in connection with a £300 million multicurrency revolving bridge facility agreement entered into between The British United Provident Association Limited, Bupa Finance, HSBC Bank and The Royal Bank of Scotland.

CONTACTS

Financing: Miranda Leung (partner), Andrew Chaplin (associate), Brandon Ovington (associate); Tax: William Watson (partner), George Mitchell (associate)

Norton Rose Fulbright has advised on a raft of new mining transactions in the lead up to the end of 2013. The transactions are: Advising Aureus Mining on a US$88m loan facility agreement with Nedbank and Rand Merchant Bank and a US$12m subordinated loan agreement with RMB Resources to finance the development of its New Liberty Gold Project in Liberia. The loan facility is supported by Export Credit Insurance Corporation of South Africa (ECIC). The financing will support the development of Liberia’s first commercial gold mine, which is expected to begin production in March 2015.

Ashurst advised a banking consortium led by UniCredit Bank AG and the Bank of Ireland on the financing of the takeover of Hofmann Menü-Manufaktur by Partners Group. The seller is Gilde Buy Out Partners. Partners Group acquired the German provider of customised cook and freeze products to small business canteens and social organisations on behalf of its clients, together with the management of Hofmann Menü.

The transaction is subject to approval by the respective antitrust authorities.