Clifford Chance advised an international banking syndicate in the context of granting a loan facility to GAZPROM Germania GmbH of EUR 500 million. The facility was successfully syndicated despite the difficult market environment. It serves, inter alia, to fund acquisitions.
Paul Hastings LLP, a leading global law firm, announced today that the firm represented the banks on the financing of the acquisition of Encana’s Bighorn assets by Jupiter Resources Inc., a portfolio company of Apollo Group Management.
Mayer Brown has advised Budapest Airport on the refinancing of €1.35 billion loan facilities and associated interest rate swaps.The refinancing includes a €1 billion five-year senior term loan and a €300 million junior facility.
Budapest Airport was acquired in 2007 by a consortium of investors including AviAlliance (formerly Hochtief Airport), Caisse de Depot et Placement du Quebec, the Government of Singapore’s investment arm Malton and KFW Ipex Bank.
Trowers & Hamlins has acted as Oman local counsel to advise a consortium of sixteen international and local financial institutions on the finance documents for a US$1.85 billion unsecured revolving credit facility (RCF) arranged for Oman Oil Company SAOC (OOC), the energy investment arm of the Sultanate of Oman.
Eversheds has advised education and activity travel group Holidaybreak on the refinancing of its Group bank facilities.
The new £245m facility extends the current facility resulting in a £100m term loan facility, £22m bonding facility and £123m revolving credit facility. M&G Alternatives Investment Management Limited provided £30m of the term loan facility which is repayable in six years.
The Eversheds team was led by Partner Nigel Dale assisted by Senior Associate Ben Edwards and Associate Marie-Charlotte Chambers.
Slaughter and May advised AB Electrolux (publ), the multinational appliance manufacturer based in Stockholm, on a committed bridge facility arranged by Deutsche Bank AG and Skandinaviska Enskilda Banken AB (publ) to finance Electrolux's acquisition of the appliances business of General Electric Company for $3.3 billion. The bridge facility is planned to be gradually replaced by capital market and bank financing (approximately 75%) and a rights issue (approximately 25%). We worked alongside Electrolux's in-house legal team.
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Allen & Overy LLP has advised SAP SE on the financing of the takeover of Concur Technologies, Inc., a leading provider of business travel and expense management software solutions, and on regulatory issues in the context of the takeover. The takeover of Concur by SAP SE’s subsidiary, SAP America Inc., is expected to close in late 2014/early 2015. Closing of the transaction is subject to Concur stockholder approval, clearances by the relevant regulatory authorities and other customary closing conditions.
Allen & Overy LLP has advised Merck with regard to a bridge financing supporting the acquisition of Sigma-Aldrich Corporation by Merck for a purchase price of USD 17 bn. (EUR 13.1 bn.). Closing of the transaction establishing one of the leading players in the global life science industry is expected mid-year 2015, subject to regulatory approvals, approval by a special meeting of the shareholders of Sigma-Aldrich and other customary closing conditions.
Paul Hastings LLP, a leading global law firm, announced today that the firm represented Citigroup Global Markets, Inc., Barclays, Goldman Sachs Bank USA, Morgan Stanley Senior Funding, Inc. and Natixis, New York Branch as lead arrangers and Citibank, N.A. as administrative agent in connection with a $550 million incremental add-on to Templar Energy LLC’s second lien credit facility. The proceeds were used primarily for the purchase of Granite Wash assets from Newfield Exploration Co.
Ashurst LLP advised Citigroup and Goldman Sachs as bookrunners and mandated lead arrangers and Lloyds Bank as lender on the £210 million refinancing of the Fat Face Group, the leading UK lifestyle clothing brand majority-owned by private equity group Bridgepoint.
The Ashurst team was led by banking partners Helen Burton and Tim Rennie assisted by senior associate Ewen Scott and solicitor Simin Kiani-Lirharani. Partner Alex Cox and senior associate Caroline Page advised on tax aspects.
Tim Rennie, banking partner at Ashurst LLP commented: