Transaction represents UniCredit’s first Senior Non-Preferred Issuance in US dollars and one of UniCredit’s largest issuances to date.
UniCredit SpA has successfully issued 5-year Senior Non-Preferred Notes for a total amount of US$3 billion as part of its US Global Medium Term Note Programme (GMTN) to a prime institutional investor.
Global law firm White & Case LLP has advised BFF Banking Group on the establishment of its €1 billion Euro Medium Term Note Programme.
BFF Banking Group is the leading European player in the management and non-recourse factoring of receivables owed by public sector entities. It is listed on the Milan Stock Exchange and operates in Italy, Poland, Czech Republic, Slovakia, Spain, Portugal, Greece and Croatia.
Morgan Lewis has advised PJSC GV Gold (PAO Vysochayshiy) in connection with a $100 million gold prepayment transaction.
The prepayment was arranged by Société Générale under a refined gold supply agreement with a tenor of three years. The prepayment monthly supply of gold is approximately 3 koz a month, with the settlements focused on the LBMA morning fixing.
Morgan Lewis partners Grigory Marinichev in Moscow and Paul Denham in London, and associate Alexey Chertov in Moscow, represented PJSC GV Gold.
DLA Piper has advised commercial aircraft leasing company, Avation PLC, on its US$50 million Rule 144A tap issue of 6.5% Senior Notes due 2021, under its existing US$1 billion Global Medium Term Note Program. The Notes were issued by Avation Capital S.A., its wholly-owned Luxembourg subsidiary.
Avation successfully issued the tap with an improved credit rating from Standard & Poors. The transaction was a key component of the company's ongoing growth and fleet expansion strategy.
Stephenson Harwood (Singapore) Alliance has advised KfW-IPEX Bank on a US$72 million loan agreement to Quantum Pacific Shipping (QPS) for the purchase and installation of scrubbers.
Backed by the Norwegian export credit guarantee agency GIEK, the facility will be used to acquire and install exhaust gas cleaning scrubbers from Clean Marine. It is the first scrubber financing that has been backed by a GIEK guarantee.
Cleary Gottlieb represented Allergan plc in a public offering of €500 million 1.5% notes due 2023, €500 million 2.625% notes due 2028, and €700 million floating rate notes due 2020.
King & Wood Mallesons (KWM) advised Huzhou Communications Investment Group Co., Ltd. (Huzhou Communications) as its English law counsel on the issuance of CNY 500 million 5.9% notes due 2021.
This marks the first-ever dim sum bond offering by a PRC issuer at the municipal level. It is also the first overseas investment grade bond issuance by a municipal-level state-owned company that is involved in the communication investment business.
On 6 December 2018, Ingrid Hotels S.p.A. (“Ingrid Hotels”), an Italian company majority-owned by Värde Partners and which owns and manages, together with its subsidiaries located in France, Hungary and Czech Republic, a pan-European luxury hotel portfolio known as "Dedica Anthology", issued notes with a nominal value of €337,000,000, which have been admitted to trading on the Third Market of the Vienna Stock Exchange. The notes were purchased by certain affiliates of Blackstone Real Estate Debt Strategies.
Jones Day advised Banca IMI and BNP Paribas, as dealers, and Invest Banca and Credit Agricole e Banca Akros S.p.A., as co-dealers, in connection with the €2.1 billion (US$2.3 billion) issuance of the new 4-year BTP Italia, indexed to Italian inflation (Ex Tobacco). The new bond is placed on the market through the screen based MoT platform of Borsa Italiana into two phases: the first phase is reserved to individual savers; the second, subsequent, is reserved to the institutional investors.
Contact: Piergiorgio Leofreddi
Cravath represented the European Investment Bank in connection with its $1 billion registered SOFR-linked floating rate notes offering. The European Investment Bank, which functions as the bank of the European Union, supports projects that make a significant contribution to growth, employment, economic and social cohesion and environmental sustainability, both in the EU and beyond. The notes were listed on the Luxembourg Stock Exchange. The transaction closed on December 5, 2018.