Ashurst Advises on the Kingdom of Sweden’s Sale of US$2.94 billion Stake in Nordea

Ashurst is advising Nomura International, Morgan Stanley International and SEB Enskilda on their role in the Kingdom of Sweden’s sale of 255 million shares in Nordea Bank, the Nordic region’s largest lender. At SEK 74.5 per share, proceeds of 19 billion kronor (US$2.94 billion) were raised by way of an accelerated bookbuild directed at Swedish and international institutional investors.

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Clifford Chance Advises IVG Immobilien AG on Its Capital Increase

The international law firm Clifford Chance advised IVG Immobilien AG on its capital increase against contribution in cash from authorised capital, excluding any pre-emptive rights. Deutsche Bank and UBS were the joint lead managers and joint book runners of the transaction. Since 16 February 2011, the news shares are quoted on the Frankfurt Stock Exchange in the prime standard segment. The emission volume is at around 90 million Euros.

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Simpson Thacher Represents ACE Cash Express in $350 Million Senior Secured Notes Offering, Related Tender Offer and Consent Solicitation and Amendment to Asset-Backed Revolving Credit Facility

Simpson Thacher represented ACE Cash Express, Inc. (“ACE Cash Express”), a portfolio company of JLL Partners, in connection with its Rule 144A and Regulation S offering of $350 million aggregate principal amount of 11% Senior Secured Notes due 2019. ACE Cash Express used a portion of the proceeds from the offering, along with cash on hand, to fund its cash tender offer for all of its outstanding $175 million 10.25% Senior Notes due 2014. ACE Cash Express used the remaining proceeds to repay a portion of its borrowings under its asset-backed revolving credit facility (“ABL Credit Facility”), repay in full and terminate its term loan and pay related fees and expenses.

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Tags:  Simpson Thacher & Bartlett LLP