Davis Polk advised the joint lead arranger, joint bookrunner, administrative agent and collateral agent on a $3.5 billion senior secured credit facility for KFC Holding Co., Pizza Hut Holdings, LLC and Taco Bell of America, LLC, domestic subsidiaries of Yum! Brands, Inc. (“Yum! Brands”). The senior secured credit facilities consist of a $500 million term A facility, a $2.0 billion term B facility and a $1.0 billion revolving credit facility.

Davis Polk advised the joint book-running managers in connection with an SEC-registered offering by Bunge Finance Europe B.V., a wholly owned subsidiary of Bunge Limited, of €600million principal amount of its 1.850% senior notes due 2023. Bunge Limited fully and unconditionally guaranteed the notes.

Darrois Villey Maillot Brochier advised Airbus Group on the sale of Dassault Aviation shares and the issue of bonds exchangeable into Dassault Aviation shares.

The sale was carried out through a private placement by way of an accelerated bookbuilding up to 9.05% of Dassault Aviation’s share capital and through a repurchase of shares by Dassault Aviation’s up to 5.5% of its share capital, at a share price of €950, for a total amount of approximately €1.26 billion.

International law firm Freshfields Bruckhaus Deringer has advised Tianjin Infrastructure Construction & Investment Group Co., Ltd. (Tianjin Infrastructure) on its debut international issuance of US$500m senior bonds. The bonds have been listed on the Hong Kong Stock Exchange.

Leading international law firm Clifford Chance advised on two key issuances highlighting the firm's US capability in Asia Pacific.

Braas Monier Building Group S.A. ("Braas Monier") issued €435 million senior secured notes due 2021 through its subsidiary BMBG Bond Finance S.C.A.

Alongside the notes, a new revolving credit facility in an amount of €200 million was granted by an international banking consortium.

Hengeler Mueller advised Braas Monier on this transaction. The Hengeler Mueller team included partner Johannes Tieves as well as associates Miriam Peter and Daniela Böning (all Financing, Frankfurt).

Cravath represented BMBG Bond Finance S.C.A. in connection with its €435 million 144A/Reg. S high-yield senior secured debt offering. BMBG Bond Finance S.C.A. is a subsidiary of Braas Monier Building Group S.A., a leading manufacturer and supplier of pitched roof products, including both roof tiles and roofing components in Europe and parts of Asia and South Africa. The notes were listed on the Irish Stock Exchange. The transaction closed on June 15, 2016.

Davis Polk advised Poly Real Estate Finance Ltd, an indirect wholly owned subsidiary of Poly Real Estate Group Co., Ltd. (Poly Real Estate), in connection with its cash tender offer for its outstanding $500 million 4.50% guaranteed bonds due 2018 and $500 million 5.25% guaranteed bonds due 2019.

Poly Real Estate is a leading property developer in China and the largest state-owned real estate company in China. Its ordinary shares are listed on the Shanghai Stock Exchange.

Davis Polk advised the joint lead managers in connection with the Regulation S-only offering by CSCEC Finance (Cayman) I Limited (the “Issuer”) of its $500 million 2.25% notes due 2019 and $500 million 2.70% notes due 2021 unconditionally and irrevocably guaranteed by China State Construction Engineering Corporation Limited (the “Guarantor”).

Allen & Overy has advised Axis Bank Limited on its inaugural USD500 million green bond issue, offered pursuant to Rule 144A and Regulation S, and the largest green bond issued by an Indian bank.