Cleary Gottlieb represented J.P. Morgan and Credicorp Capital as dealer managers in the cash tender offer to purchase up to a total of $150 million of 4.5% senior notes due 2023 issued by Cementos Pacasmayo.

The offer was oversubscribed at the early tender date and settled early on December 11, 2018, when Cementos Pacasmayo repurchased approximately $168 million of the notes. The tender offer launched on November 26, 2018, and expired on December 21, 2018.

The Cherkizovo Group acquires debt from one of Russia’s leading poultry producers

Ashurst has advised illimity - Banca Interprovinciale S.p.A. on the Euro 15,000,000 medium-long term loan granted to OWL S.p.A., the holding company controlling the TAS Group (TAS-Tecnologia Avanzata dei Sistemi S.p.A.). TAS is a leading Italian company specialised in software solutions for e-money, payment systems and financial markets, operating in Europe and America.

The Ashurst team was led by partner Paolo Manganelli, and included counsel Annalisa Santini and associate Anna Giulia Chiarugi. Counsel Fabio Balza advised in relation to the tax aspects of the refinancing.

Simpson Thacher, acting as sole international counsel, represented The Hongkong and Shanghai Banking Corporation Limited as Dealer in connection with the offering of HK$1.25 billion Floating Rate Notes due 2021 by Korea Land & Housing Corporation under its US$2.5 billion Global Medium Term Notes Program. The offering was conducted in reliance upon Regulation S under the Securities Act of 1933, as amended, and settled through the Central Moneymarkets Unit (CMU) Service operated by the Hong Kong Monetary Authority.

Orrick advised Paris-based Jolt Capital as the lead investor in the growth financing of 4JET, a German pioneer in laser material processing.

Joining 4JET founder and CEO Jörg Jetter and the investor eCapital, Jolt Capital’s funding will allow 4JET to further expand its global delivery platforms for sales & service and accelerate its development initiatives.

London—Dentons has advised Scottish Widows, part of Lloyds Banking Group, on the refinancing of £86.1 million of Empiric Student Property plc’s existing debt with a new 10-year, fixed rate term loan facility.

The new facility is secured against a portfolio of the borrower’s English and Scottish operating assets, held as a lending group, through a wholly owned subsidiary. Around £30.6 million of the new facility will be drawn in the short term, with the remaining £55.5 million expected to be drawn by the end of October 2019.

Slaughter and May advised HomeServe plc on its issue of US private placement notes.  The issue consisted of six series of notes totalling US$125 million and £80 million and with maturity dates in the range of seven to 12 years.  The proceeds will be used to refinance existing financial indebtedness and for general corporate purposes.

Contacts

Financing: Philip Snell (partner), Ed Fife (partner), Tim Newey (associate); Tax: William Watson (partner), Charles Osborne (associate), Jamshed Bilimoria (associate)

Simpson Thacher represented Río Energy S.A., UGEN S.A., and UENSA S.A., as co-issuers (collectively, “MSU Energy”), in connection with the private placement of US$250 million aggregate principal amount of secured floating rate notes due 2023, in reliance upon Section 4(a)(2) and Regulation S under the Securities Act.

International law firm Ashurst advised the European Investment Bank (EIB) on a €30 million loan to Motork Srl, one of the first venture debt transactions in Italy.

It is a European Growth Finance Facility with an innovative quasi-equity financing scheme.

MotorK is a leading company in the digital automotive sector and a partner of over 90% of car companies active in Europe. The financing will be used over the next five years for the research and development of new digitalized platforms servicing car manufacturers.