Slaughter and May, Hong Kong, is advising Semiconductor Manufacturing International Corporation (SMIC) in relation to its issue of US$450 million zero coupon convertible bonds due 2022 (the Bonds). The lead manager and sole bookrunner for the issue is J.P. Morgan Securities plc. The Bonds will be listed on the Singapore Stock Exchange.
Allen & Overy LLP advised Dexia Kommunalbank Deutschland AG (DKD) in connection with a Public Pfandbrief with an aggregate principal amount of EUR 500 million.
The 0.05% fixed-rate Public Pfandbrief due 2021 is the first benchmark issue by DKD in this year. The Public Pfandbrief is admitted to trading on the regulated market of the Berlin Stock Exchange.
The syndicate of financing banks included Bayerische Landesbank, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, DZ BANK AG and UniCredit Bank AG.
Herbert Smith Freehills has advised Bank Of China and HSBC on the Ministry of Finance of the People's Republic of China's issue of RMB3billion of bonds which will be listed on the London Stock Exchange. This is the first time the sovereign has listed a bond on the London Stock Exchange and is another step in the internationalisation of Renminbi. The Ministry of Finance bond drew orders of RmB8.5bn from investors evenly split between Asia and Europe, Africa and the Middle East.
The team was led by finance partners William Ku in Hong Kong and Andrew Roberts in London.
We advised Bonum Bank Plc in the establishment of a EUR 750 million programme for the issuance of senior unsecured notes. The programme provides that the notes issued under the programme may be listed on the Helsinki Stock Exchange maintained by Nasdaq Helsinki Ltd.
Bonum Bank Plc issued an inaugural 3-year senior unsecured EUR 100 million bond in June 2016. The issuance was documented under the newly established programme and listed on the Helsinki Stock Exchange.
Global law firm White & Case LLP has advised the Italian short-sea operator Grandi Navi Veloci S.p.A. on its €320 million refinancing.
The transaction included a €245 million senior secured term and revolving credit facility and a €75 million private placement.
Global law firm White & Case LLP has advised Banca IMI and BNP Paribas, as joint lead managers, on the offer to retail investors in Italy of around US$670 million Notes issued by the International Bank for Reconstruction and Development (World Bank).
The White & Case team in Milan which advised on the transaction was led by partner Paola Leocani, local partner Paul Alexander and associate Baldassarre Battista.
London - Mayer Brown has advised Värde Partners on a £158 million transaction with Starwood Capital to refinance the Magni CMBS.
The proceeds of the new Starwood Capital financing were applied by Magni Finance DAC to refinance five tranches of Notes listed on the Irish Stock Exchange and to unwind the CMBS entered into by it.
Mayer Brown acted for Värde Partners on all stages of the loan financing, the Noteholder consent process and the related CMBS unwind.
Davis Polk advised the sole dealer manager in connection with a cash tender offer by Yanzhou Coal Mining Company Limited (“Yanzhou Coal”) as guarantor and Yancoal International Resources Development Co., Limited (“Yancoal Resources”) as issuer for up to $300 million aggregate principal amount of (i) the outstanding 5.730% guaranteed notes due 2022 and (ii) the outstanding 4.461% guaranteed notes due 2017 issued by Yancoal Resources.
We advised Bonum Bank Plc in the establishment of a EUR 750,000,000 programme for the issuance of senior unsecured notes. The programme provides that the notes issued under the programme may be listed on the Helsinki Stock Exchange maintained by Nasdaq Helsinki Ltd.
Baker & McKenzie advised Volkswagen Financial Services AG, Volkswagen Leasing B.V. and DutchLease B.V. in another asset-backed securities (ABS) transaction as part of the VCL Master series in the Netherlands.
Notes backed by lease receivables and residual values of vehicles in a total nominal amount of up to 1 billion Euros were issued in the Netherlands. Originators of the receivables are Volkswagen Leasing B.V. and DutchLease B.V. The issuer is VCL Master Netherlands B.V..