Hong Kong - Paul Hastings, a leading global law firm, announced today that it represented Mingfa Group (International) Company Limited (“Mingfa Group”), a leading PRC investment company focusing on property development listed on the Hong Kong Stock Exchange, on its issuance of US$200 million of bonds due 2020. Head & Shoulders Securities Limited acted as the placing agent.
Hong Kong - Paul Hastings, a leading global law firm, announced today that it advised Sino-Ocean Group Holding Limited (“Sino-Ocean Group”) as the guarantor in relation to the issue by its wholly-owned subsidiary, Sino-Ocean Land Treasure IV Limited, of US$500 million in 5.25% guaranteed notes due 2022.
Allen & Overy advised State Bank of India on its USD1.25 billion dual tranche Regulation S/Rule 144A senior notes issuance, which included USD400 million of 4.00% notes due 2022 and USD850 million of 4.375% notes due 2024.
This was the first Rule 144A bond offering by an Indian issuer in 2019, and State Bank of India’s return to the U.S. capital markets since its record-setting qualified institutional placement in 2017. State Bank of India is India’s largest bank, with over 22,300 branches, over 420 million customers and over USD500 million of assets.
Allen & Overy advised Vonovia SE on a secured financing arrangement for EUR 500 million with a 10-year term. Pbb Deutsche Pfandbriefbank AG and Landesbank Baden-Württemberg (LBBW) each provided 50% of the commitments to the listed residential property company. Vonovia will be using the funds for general business purposes. The loan is secured by a residential property portfolio in Dresden with total rented space of approx. 800,000 sqm, comprising approx. 13,400 residential units and over 200 commercial units.
Irwin Mitchell’s Banking Team Advises On The Deal
Arbuthnot Commercial Asset Based Lending has completed a £12m refinancing for I&C Limited, trading under Red 7 Marine (R7M).
R7M is the leading provider of nearshore access solutions to the UK marine construction and maintenance industry, and an investee company of Perwyn Private Equity.
This multi-million pound facility will better position R7M to take advantage of future growth opportunities while freeing up Perwyn’s capital in the near term.
Eversheds Sutherland advises Daisy Group on reorganisation, refinancing and investment by Ares
Eversheds Sutherland has advised long-standing client Daisy Group in relation to its group re-organisation, refinancing and investment by Ares Management. The financing represents one of the largest European private credit transactions to-date.
Headquartered in Nelson, Lancashire, Daisy was founded in 2001 by chairman Matthew Riley and has since grown to be the leading independent provider of IT, communications and cloud services to UK businesses.
Sullivan & Cromwell client Suning Appliance Group reopened its $235 million 7.50% senior, unsecured bonds due 2021 through a tap issue. After Suning Appliance registers the guarantee with the PRC State Administration of Foreign Exchange, the bonds will be consolidated and form a series with those issued in September 2018, on which S&C also acted. It is expected that the consolidated bonds will be approved for listing on the Hong Kong Stock Exchange.
Trowers advises The Housing Finance Corporation Limited on £83 million bond
Top 40 law firm Trowers & Hamlins were delighted to act for The Housing Finance Corporation Limited (THFC) on a new bond tap of £83 million and subsequent on-lending to 3 housing associations.
This new £83 million tap took the bond issue over £1 billion. Trowers & Hamlins is proud to say that it has been the sole legal advisor to THFC on all £1billion of financing.
Partner Naomi Roper, who led the Trowers team on the deal said:
Milbank, Tweed, Hadley & McCloy LLP has advised Goldman Sachs International and BNP Paribas as initial purchasers in connection with Parts Europe S.A.’s (formerly Autodis S.A.) offering of €175 million Senior Secured Floating Rate Notes due 2022. The net proceeds of the bond offering were, or will be, used to fund the redemption of €72 million in aggregate principal amount of Parts Europe’s Senior Secured Floating Rate Notes due 2022, to repay all amounts drawn under Parts Europe’s revolving credit facility, and for general corporate purposes.
A Clifford Chance team led by Capital Markets partner Hugo Triaca represented Bank of America Merrill Lynch and Scotiabank, as initial purchasers, in TermoCandelaria Power Limited's ("TPL") inaugural bond offering, consisting of US$410 million 7.875% senior notes due 2029.