Ropes & Gray Acts for Bormioli Rocco in Latest High Yield Offering for its London Office

Ropes & Gray represented Bormioli Rocco Holdings S.A. and VCP VII Luxco 6 S.A.R.L. in connection with the issuance of €250 million 10 percent senior secured notes due 2018 of Bormioli Rocco Holdings S.A. The proceeds of the issuance will be used to pay, in part, the €260 million bridge loan borrowed by VCP VII Luxco 6 S.A.R.L., Bermuda Luxco S.A., Bermuda Acquisitions S.R.L. to finance Vision Capital’s acquisition of a portfolio of investments from Banco Popolare, including Bormioli Rocco, the international glass and plastic packaging manufacturer. J.P. Morgan and BNP Paribas acted as joint book-running managers; the transaction launched on July 22 and priced on July 26.

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Squire Sanders Advises on Landmark Telecoms Joint Venture

Squire, Sanders & Dempsey has advised Polska Telefonia Cyfrowa, the operator of T-Mobile in Poland, on its 15-year agreement to share radio access networks with PTK Centertel, operator of the Orange network in Poland. As part of the agreement, the two operators have transferred staff into a joint venture company, NetWorks!, with each owning 50% of the new company. NetWorks! will develop and maintain networks in Poland, and is one of only a few similar joint ventures currently operating within the worldwide telecommunications industry.

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Simpson Thacher Represents Underwriters in $735 Million Initial Public Offering of Duff & Phelps Global Utility Income Fund Inc.

Simpson Thacher recently represented a group of underwriters in connection with the initial public offering of Duff & Phelps Global Utility Income Fund Inc. (NYSE: DPG) (the “Fund”), a closed-end registered investment company.  The lead underwriters in the transaction were Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, UBS Securities LLC and Ameriprise Financial Services, Inc.

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White and Case Advises on the First Turkish Covered Bond

Global law firm White & Case LLP advised UniCredit Bank AG, London Branch, as arranger on a new €335 million Turkish covered bond programme for Şekerbank TAŞ and initial issuances thereunder—the first-ever covered bond programme in the Turkish market. Known as the Şekerbank Asset-Guaranteed Bonds, the covered bond is also the first to earn an “A3” rating from Moody’s Investors Service.

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