An Orrick team in London advised Millicom International Cellular, S.A., a leading emerging markets telecom and digital media company, on the refinancing of its Swedish-listed bonds. The multi-stage transaction involved two tender offers for Millicom's existing SEK-denominated bonds and a simultaneous issue of new SEK-denominated bonds, the terms of which more closely align with the company's other debt facilities.
Ashurst, a leading international law firm, has recently completed four successful liability management transactions.
Ashurst advised MIE Holdings Corporation on its consent solicitation seeking consents from holders of its outstanding high yield 6.875% Senior Notes due 2018 and its 7.50% Senior Notes due 2019 to certain proposed amendments to the respective indentures. The purpose of the amendments was to align with more recent issuances in the region and provide MIE with additional flexibility in light of the continuing volatility of the oil and gas industry.
Davis Polk advised the initial purchasers in connection with a CNY600 million Regulation S offering by Fantasia Holdings Group Co., Limited of its 9.50% senior notes due 2019.
King & Wood Mallesons (KWM) have advised Peet Limited, one of Australia’s largest listed residential land developers, on its offering of simple corporate bonds. This is the second simple corporate bond offering under legislation passed in August 2014 aimed at cutting red tape for borrowers seeking to tap the retail bond market.
The transaction will enable Peet to access an alternative funds source for future strategic investments. The KWM team was led by Partners Brian Murphy and Phil Harvey and Senior Associates Jo Dodd and James Parkin.
On 4 May 2016, AMAG Leasing AG closed its second auto lease securitization transaction. The transaction was structured as a dual trance transaction involving the issuance of notes with various terms, issued by two separate SPVs. Swiss Car ABS 2016-1 AG (the 2016-1 Issuer) issued CHF 200,000,000 0.15 percent Asset-Backed Class A Notes due 2026 (2y soft bullet) and CHF 15,000,000 1.125 percent Asset-Backed Class B Notes due 2026 (2y soft bullet) and Swiss Car ABS 2016-2 AG (the 2016-2 Issuer) issued CHF 300,000,000 0.30 percent Asset-Backed Class A Notes due 2026 (4y soft bullet).
BLP has advised Canaccord Genuity (joint bookrunner) and Zeus Capital (joint bookrunner and Nominated Adviser) on a £27m block trade sale by existing management shareholders of AIM-listed Mortgage Advice (Bureau) Holdings plc, which was announced on Wednesday 27 April 2016.
Linklaters was pleased to advise the Malaysian Ministry of Finance, Government of Malaysia, and Malaysia Sukuk Global Berhad on the issuance of USD 1bn trust certificates due 2026, and USD 500m trust certificates due 2046.
“This is an innovative transaction, not least because it’s the first sovereign sukuk to initially involve only non-physical underlying assets,” said Kevin Wong, Partner, Linklaters, Singapore.
Mr Wong said it’s also the first ever sukuk to include entitlements to travel on public transportation as an underlying asset.
Davis Polk advised the Dealers in connection with the preparation of a new global medium-term note program (the “Program”) by the Emirate of Abu Dhabi (the “Issuer”).
Davis Polk also advised the Dealers in connection with the Issuer’s offering under the Program of $2.5 billion aggregate principal amount of 2.125% notes due 2021 and $2.5 billion aggregate principal amount of 3.125% notes due 2026 pursuant to Rule 144A and Regulation S.
Davis Polk advised Nederlandse Waterschapsbank Bank N.V. (“NWB Bank”) in connection with the annual update of its €60 billion Rule 144A/Regulation S debt issuance program. In the 12 months prior to the update, Davis Polk advised NWB Bank in connection with senior notes issuances totaling €3.65 billion.
Gernandt & Danielsson advises in SSM Holding’s issue of corporate bonds amounting to SEK 400,000,000
The net proceeds will be used to refinance the company’s outstanding bond loan and for general corporate purposes. The bonds are issued within the framework amount of SEK 700,000,000. The company has undertaken to list the bonds on Nasdaq Stockholm.
SSM is active within the field of project development and new production of housing in Stockholm.