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Banking & Finance - Bank Lending/Credit Facilities

Travelex Completes €360 Million Senior Secured Notes Offering and New Revolving Credit Facility

10 May 2017

Simpson Thacher represented Travelex in connection with a Rule 144A and Regulation S offering by a finance subsidiary of €360 million aggregate principal amount of 8% Senior Secured Notes due 2022, as well as a new £90 million Revolving Credit Facility. The offering closed and the Revolving Credit Facility became available for drawing on May 5, 2017. Travelex used the net proceeds from the offering, as well as cash on balance sheet, to refinance outstanding indebtedness.

Norton Rose Fulbright advises on two integral senior credit facilities

04 May 2017

Global law firm Norton Rose Fulbright has advised Sumitomo Mitsui Trust Bank, Limited and the Korea Development Bank in respect of two senior credit facilities totalling US$54 million. The senior credit facilities are backed by two junior credit facilities totalling US$22 million provided by NTT Finance Corporation with equity input from SBI MONEY PLAZA Co., Ltd. (SBIMP). The purpose of the credit facilities is to finance two pure car and truck carriers, which are on charter to a car carrier operator under the flag of the Republic of Panama.

Davis Polk Advises ORIX on Its $400 Million Revolving Credit Facility

03 May 2017

Davis Polk advised ORIX Corporation and certain of its subsidiaries, as borrowers, in connection with a $400 million unsecured syndicated revolving credit facility. The facility is available for general corporate and working capital purposes.

ORIX, an integrated financial services group, provides a broad range of commercial and consumer finance products and services to corporate and retail customers in Japan and overseas.

White & Case Advises Bank Syndicate on €1.35 Billion Refinancing of Senvion

02 May 2017

Global law firm White & Case LLP has advised a bank syndicate led by Deutsche Bank AG and J. P. Morgan on a complex €1.35 billion refinancing of the Senvion group.

The refinancing includes a €400 million green high yield bond, a secured multicurrency revolving credit facility valued at €125 million and a €825 million secured multicurrency letter of guarantee facility. The high yield bond will be due in 2022 and has a 3.875 percent coupon rate. The bond is listed on the Irish Stock Exchange.

White & Case Advises Datalogic on €250 Million Financing

27 Apr 2017

Global law firm White & Case LLP has advised Datalogic S.p.A., a global leader in automatic data capture and industrial automation markets, on its €250 million credit facility agreement.

Banca IMI and UniCredit acted as mandated lead arrangers and joint bookrunners, UniCredit acted as global coordinator and agent, and Banca Nazionale del Lavoro, Bper Banca, Intesa Sanpaolo, Ubi Banca and UniCredit acted as lenders.

CMS advises PJSC Uralkali on their new $750mln RCF from Sberbank group

27 Apr 2017

CMS has advised PJSC Uralkali, one of the world leading producers and exporters of potash, on its new $750m revolving credit facility arranged by Sberbank of Russia and Sberbank (Switzerland) AG with Sberbank (Switzerland) AG acting as facility agent, Sberbank of Russia acting as security agent and Sberbank of Russia and Sberbank (Switzerland) AG also as original lenders.

Ashurst advises Capvis on financing the acquisition of a majority in Felss Group

24 Apr 2017

Ashurst advised Capvis Equity IV LP, a fund advised by Swiss based private equity firm Capvis Equity Partners AG, in relation to the financing of the acquisition of a majority interest in Felss Group, a global technology leader in cold forming of hollow parts. Capvis acquired the shares from the previous sole shareholder Christine Kienhöfer, who will retain a substantial shareholding in the company.

The parties have agreed not to disclose the financial modalities of the transaction.

Loyens & Loeff advised Elliott Management on the financing of the acquisition of the football club AC Milan by Rossoneri Sport Investment Lux

18 Apr 2017

Loyens & Loeff advised Elliott Management on the financing of Rossoneri Sport Investment Lux, in relation to the acquisition of the Italian football club AC Milan. The club is valued at approximately EUR 740 million, including indebtedness of EUR 220 million. With 18 officially recognized UEFA and FIFA titles, AC Milan is the world's fourth most successful club and the most successful Italian club at international level.