Akin Gump Advises Banglalink on Inaugural $300 Million Bangladesh Bond

Tuesday, December 16, 2014

Akin Gump has advised Banglalink Digital Communications Limited, a subsidiary of VimpelCom Ltd., on an innovative $300 million Rule 144A/Regulation S high-yield bond offering “first.” Banglalink issued $300 million Senior Notes due 2019, listed on the Singapore Exchange.

This groundbreaking transaction represents the first international bond offering from Bangladesh—there has never been a Bangladesh sovereign bond or corporate bond issue on the international capital markets before. More >>

Tags:  Akin Gump Strauss Hauer & Feld LLP | London

Eversheds advises TRW Automotive on £2.5 billion pension buy-out

Monday, December 15, 2014

Law firm Eversheds award-winning pensions team, has advised TRW Automotive as its Pension Scheme undertook a landmark £2.5 billion partial pension buy-out by Legal & General’s Retirement (LGR) business, in what constitutes the largest pension buy-out in the UK to date.

TRW Automotive ranks among the world’s leading automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, operates in 24 countries and employs approximately 65,000 people worldwide. More >>

Tags:  Eversheds Sutherland | London

Davis Polk Advises China Cinda Asset Management Co., Ltd. on Its US$230 Million Notes Offering

Monday, December 8, 2014

Davis Polk advised China Cinda Asset Management Co., Ltd. (China Cinda) in connection with a private placement of US$230 million Regulation S guaranteed senior notes issued by China Cinda’s wholly owned subsidiary, China Cinda Finance (2014) II Limited. The notes are guaranteed by China Cinda (HK) Holdings Company Limited, a wholly owned subsidiary of China Cinda, and are supported by a keepwell deed and a deed of equity interest purchase, investment and liquidity support undertaking from China Cinda. More >>

Tags:  Davis Polk & Wardwell LLP | Beijing | Hong Kong | London

Herbert Smith Freehills advises on Nepal’s second biggest ever foreign investment deal

Friday, December 5, 2014

Herbert Smith Freehills has advised the Investment Board of the Government of Nepal on its project development agreement (PDA) with Indian public sector undertaking SJVN Limited to develop the 900 megawatt, US$1.1 billion Arun-3 Hydro Electric Project (the Project). This agreement follows on from the firm advising the Government of Nepal on the US$1.4 billion Upper Karnali Hydro Power Project PDA earlier this year, which is Nepal’s biggest ever foreign investment deal. More >>

Tags:  Herbert Smith Freehills Kramer LLP | Brussels | London

Prudential Enters into $2.2 Billion Longevity Risk Transfer Transaction with Legal & General Group Plc

Thursday, December 4, 2014

Deal is Prudential’s third longevity transaction in the U.K. market in 2014 that Willkie has handled.

The firm recently represented Prudential Retirement Insurance and Annuity Company (PRIAC) in its $2.2 billion longevity risk transfer transaction with Legal & General Group Plc. Under the terms of the transaction, PRIAC will provide reinsurance of longevity risk for a portion of Legal & General’s pension bulk annuity business, which provides security to thousands of U.K. retirees. This was Prudential’s third longevity transaction in the U.K. market in 2014, following its agreement to reinsure $27.7 billion of longevity risk associated with BT Pension Scheme’s liabilities (the largest single longevity transaction on record) and $1.7 billion of longevity risk associated with Rothesay Life Limited’s liabilities under 93 U.K. defined benefit plans. More >>

Tags:  London | New York