DLA Piper has advised Dignity Group (“Dignity”) on its exchange offer and further issue of secured notes which was completed on 17 October 2014.
The bond issue will be followed by a return of circa £64 million to shareholders, equating to £1.20 per ordinary share. Following the transaction the group’s annual debt service costs are expected to reduce from £40 million to approximately £33 million. More >>
Tags: DLA Piper | Birmingham | London
Mayer Brown represented Dublin-based helicopter lessor The Milestone Aviation Group and a consortium of financial investors led by private equity firm The Jordan Company in Milestone’s $1.775 billion stock sale to GE Capital Aviation Services, the aircraft leasing unit of GE. Milestone is the world’s largest helicopter-leasing company by fleet value and the first global aircraft operating lease company focused exclusively on the helicopter market. Mayer Brown also represented the financial investors in initially forming Milestone in 2010 and in multiple capital raising transactions. More >>
Tags: Mayer Brown LLP | Chicago | London | New York | Washington
Leading offshore law firm Mourant Ozannes has advised Pershing Square Holdings, Ltd (PSH) on all Guernsey-related aspects of its conversion from an open-ended to a closed-ended registered fund, an upsized placing to raise gross proceeds of US$2.73 billion (excluding an over-allotment option of up to US$272 million or 10 per cent of the placing shares) and its listing and admission to trading of new public shares on the regulated market of Euronext Amsterdam NV Following the offering, PSH will have a market capitalisation of US$6.2 billion. More >>
Tags: Mourant Ozannes | Guernsey | London
Global law Firm White & Case LLP has advised Citigroup Global Markets Limited, J.P. Morgan Securities plc and HSBC Bank plc as Lead Managers on the establishment of the Republic of Kazakhstan’s US$10 billion Medium Term Note Programme and a subsequent US$2.5 billion issuance under it.
The issuance is the first by the Republic of Kazakhstan in 14 years and consists of a US$1.5 billion series of 3.875 percent Notes due 2024 and a US$1 billion series of 4.875 percent Notes due 2044. More >>
Tags: White & Case LLP | Astana | LondonGlobal law firm White & Case LLP has advised J.P. Morgan and Nomura, acting as global coordinators and bookrunners, on the £725 million senior debt financing package for the Bestway Group’s £620 million acquisition of the Co-operative Group’s Pharmacy business. More >>
Tags: White & Case LLP | LondonSimpson Thatcher is representing Melrose Industries PLC, a UK-based FTSE 250 company, on the sale of Bridon Limited (“Bridon”) to Ontario Teachers’ Pension Plan Board for an enterprise value of £365 million, on a debt and cash-free basis, subject to customary adjustments.
Bridon designs and manufactures a comprehensive range of lifting and stabilising solutions for applications in wire rope, fibre rope, steel wire and strand. Bridon services global customers in the oil & gas, mining, industrial, marine and infrastructure sectors.
The sale was announced on October 11, 2014 and is conditional upon, amongst other things, obtaining anti‐trust clearances, and is targeted for completion during 2014.
The Simpson Thacher team for the transaction included Adam Signy, Tom Merrifield and Aled Knights (Corporate); Euan Gorrie and Manas Chandrashekar (Credit); and David Vann, Étienne Renaudeau and Tara Kelly (Competition-M&A ).
Tags: London
The Republic of Kazakhstan has today closed a $2.5 billion Eurobond offering.
The offering was made under Rule 144A and Regulation S, and the bonds are listed on the London Stock Exchange. The bonds were issued in two tranches, a $1.5 billion tranche of 3.875% Notes due 2024 and a $1 billion tranche of 4.875% Notes due 2044. More >>
Tags: Morgan, Lewis & Bockius LLP | Almaty | LondonDLA Piper has advised Abengoa Greenfield S.A, a subsidiary of Abengoa, on the private placement of its inaugural green bonds that were issued on 30 September 2014. The deal comprised euro and dollar-denominated five-year tranches of €265 million and $300 million respectively. More >>
Tags: DLA Piper | LondonDavis Polk advised Morgan Stanley & Co. International plc, Rand Merchant Bank, a division of FirstRand Bank Limited and Renaissance Securities (Cyprus) Limited, as joint bookrunners, in connection with the ZAR 1.2 billion (US$110 million) initial offering of the ordinary shares of Rhodes Food Group Holdings Limited. The offering consisted of 92,750,000 shares at a price to investors of ZAR 12.00. In addition, the joint bookrunners have an over-allotment option with respect to 9,275,000 ordinary shares of Rhodes Food Group.
The offering consisted of an offer for subscription by Rhodes Food Group and an offer for sale by certain of its shareholders to institutional and other selected investors in South Africa. Selling shareholders in the offer included funds of Capitalworks, a South African private equity group that is Rhodes Food Group’s largest shareholder, as well as members of the company’s management. Rhodes Food Group’s shares are listed on JSE Limited under the symbol “RFG.” More >>
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The Firm recently represented Deutsche Bank, J.P. Morgan, MUFG and Credit Suisse as bookrunners for a $5.75 billion offering by Roche Holdings, Inc. of notes, guaranteed by Roche Holding Ltd. The offering consisted of six series of notes, including three-year and five-year floating rate notes and three-year, five-year, seven-year, and ten-year fixed rate notes. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933. The proceeds of the offering were used for general corporate purposes, including the funding of Roche’s tender offer for the shares of Intermune, Inc. More >>
Tags: Simpson Thacher & Bartlett LLP | London