Slaughter and May, working as part of an integrated team with Cravath, Swaine & Moore LLP, advised INOVYN Finance plc on the repricing of its existing term facilities under its Senior Secured Credit Agreement and the redemption of its outstanding 6.250% Senior Secured Notes due 2021.

Contacts

Financing: Caroline Phillips (partner), Xian Wei Yeo (associate); Tax: Sara Luder (partner), Tanja Velling (associate); Real Estate: John Nevin (partner), Helen White (associate); IP&IT: Laura Houston (associate)

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised UniCredit Bank Austria AG as mandated lead arranger, and 17 other international lenders, on a €477.2m facility provided to the Austria-based global refractory market leader RHI AG (RHI) for the acquisition of its Brazilian competitor Magnesita Refratários S.A. (Magnesita). The transaction closed on 26 October 2017.

Slaughter and May advised Ultra Electronics, the international defence, security, transport and energy group, in relation to the refinancing of its current revolving credit facilities into a new £300 million facility, with improved terms, provided by a syndicate of six international banks. The facility has a committed maturity of five years to November 2022, and may be extended to a maximum of seven years.

Contacts

Financing: Matthew Tobin (partner), Jansy Man (associate); Tax: Gareth Miles (partner), Ed Moberly (associate)

Slaughter and May advised Dufry AG, a leading global travel retailer, in relation to EUR 2.4 billion equivalent new facilities, consisting of a USD 700m Term Loan Facility, a EUR 500m Term Loan Facility and a EUR 1.3bn Multicurrency Revolving Credit Facility.  The new facilities will be used to refinance existing indebtedness and for general corporate purposes.

Contacts

Financing: Matthew Tobin (partner), Maebh Doyle (associate)

Macfarlanes has advised premium housing developer, Bewley Homes, on a £55m revolving credit facility provided by Lloyds Bank plc.

The facility will support the further acquisition and development of land to expand Bewley Homes’ property portfolio in prime locations across the South East of England.

Slaughter and May advised ISS, one of the world’s leading facilities services companies, in relation to the refinancing of its existing credit facility with a new EUR 1 billion revolving credit facility.  The new revolving credit facility has been made available by a syndicate of existing and new banking partners, matures in November 2022 and is not subject to financial covenants (although the margin on the facility is set by reference to a semi-annual leverage grid). 

Clifford Chance is advising investment bank J.P. Morgan acting as financial advisor and provider of acquisition financing to Germany-based infrastructure group Hochtief AG in connection with its voluntary tender offer for Spanish Abertis Infraestructuras S.A.

A merger of Hochtief and Abertis would create one of the world's leading infrastructure companies. The Hochtief tender offer is a counterbid to an offer by Italian Atlantia, S.p.A., making the transaction the first major competing tender offer in Spain in more than 10 years.

Eversheds Sutherland has advised Bayerische Landesbank (BayernLB) on the financing of 100 New Oxford Street, London, a mixed-use commercial property. BayernLB financed 50 per cent of the £180 million purchase price.

Acquired by AEW (for two German institutional investors), one of the world's largest real estate asset manager, and Thor Equities, a leading development, leasing and management company, 100 New Oxford Street houses shops, restaurants and offices.

Global law firm White & Case LLP has advised Wind Tre S.p.A. on its €7.3 billion issuance of high yield senior secured notes, in a combination of euro-denominated fixed and floating rate notes and dollar-denominated fixed rate notes, issued pursuant to Rule 144A and Regulation S under the Securities Act, and on a new €3.4 billion senior facilities agreement consisting of a €3 billion amortizing term loan and a €400 million revolving credit facility.

Ashurst advised RBS as coordinator in relation to two new syndicated loan facilities provided by RBS, Barclays and HSBC to Hilton Food Group plc, a leading specialist international meat packing business. The facilities were put in place to part-finance the consideration for the proposed acquisition of Icelandic Group UK Limited, a leading chilled UK fish processor.