Allen & Overy advises Deutsche Bank on landmark multi loan European CMBS

Tuesday, July 22, 2014
Allen & Overy said today that Deutsche Bank’s EUR355 million multi loan CMBS transaction, the first in Europe since the credit crunch, points to improving conditions within the European CMBS market which has been markedly slow since 2007.
The three commercial mortgage loans were granted by Deutsche Bank AG to Italian borrowers (both real estate funds and companies). The underlying properties comprise logistics, retail and office assets in northern Italy. All the real estate is owned by borrowers sponsored by a major financial organisation. This deal follows the very recent Taurus UK CMBS transaction, on which Allen & Overy also advised.

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Tags:  Allen & Overy LLP

AbbVie and Shire Boards Agree to Recommended Combination

Monday, July 21, 2014

Skadden is representing AbbVie Inc., a New York Stock Exchange-listed, Illinois-based pharmaceutical company, on corporate finance, banking and tax aspects of its recommended $55 billion combination with London Stock Exchange-listed pharmaceutical group Shire plc.
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JPMorgan’s $23 Billion Financing of AbbVie’s $54.7 Billion Acquisition of Shire

Monday, July 21, 2014

The Firm is representing J.P. Morgan Securities LLC and JPMorgan Chase Bank, N.A. in connection with £13.5 billion (approximately $23 billion) of committed bridge financing to AbbVie Inc. in its announced £32 billion (approximately $54.7 billion) acquisition of Shire plc for £24.44 in cash and 0.8960 shares of a newly formed AbbVie holding company for each Shire share.  The proceeds of the bridge facility will be available to finance a portion of cash consideration for the acquisition, to pay fees and expenses related thereto and for dividends and distributions.
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Shearman & Sterling Advises Lead Arrangers on Approx. US$10.7 Billion Financing for GTECH S.p.A’s Acquisition of International Game Technology

Monday, July 21, 2014

Shearman & Sterling represented Credit Suisse Securities (USA) LLC, as administrative agent, and Credit Suisse Securities (USA) LLC, Barclays and Citigroup Global Markets Limited, as joint lead arrangers and joint bookrunners, in the US$5.88 billion and €3.55 billion 364 day senior bridge loan financing for the acquisition by GTECH S.p.A. of International Game Technology (IGT).

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Tags:  Shearman & Sterling LLP

Gide advises KGHM Polska Miedź on financing worth USD 2.5 billion

Monday, July 21, 2014
Gide’s Warsaw and London offices have successfully completed another project for KGHM Polska Miedź. The largest Polish mining company officially announced an investment loan agreement for USD 2.5 billion for general corporate purposes which was signed on 11 July 2014. This is one of the most significant transactions of its type carried out in Europe this year. The agreement was concluded with a consortium of Polish and international banks, including Crédit Agricole Corporate and Investment Bank, Crédit Agricole Bank Polska, Bank Zachodni WBK, Santander Bank, Bank Polska Kasa Opieki, Bank Handlowy w Warszawie and Powszechna Kasa Oszczędności Bank Polski.

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Tags:  Gide Loyrette Nouel