Finance deals round-up
28 July 2003
10 February 2014
20 September 2013
Second Circuit affirms bankruptcy court ruling authorising American Airlines to repay $1.3bn debt without make-whole
19 September 2013
24 July 2013
24 July 2013
Slaughter and May (Stephen Powell, Dermot Rice, Graham Airs) advised Equity Release Funding (No 3) on its issue of £462m of mortgage-backed notes securitising a portfolio of equity release mortgages originated by Norwich Union Equity Release. Slaughters also advised Norwich Union. The deal was arranged by Citigroup, represented by Freshfields Bruckhaus Deringer.
Herbert Smith (Jason Fox) acted for JPMorgan on a $600m (£373.5m) secured credit facility to provide financing for the development of Intrepid Energy North
Sea's interest in Buzzard Field, one of the North Sea's largest oil fields. Wedlake Bell advised Intrepid.
Ashurst Morris Crisp (Riccardo Agostinelli) advised Unicredit Banca d'Impresa on its e8m (£5.7m) term financing of MWCR Participaciones Spain. Munari Gatti & Associati in Italy and Garrigues in Spain advised MWCR Participaciones Spain.
Davis Polk & Wardwell (Andrés Gil, Nicholas Kronfeld) acted for Credit Suisse First Boston (CSFB) on three concurrent liabilities management transactions conducted by the Republic of Colombia. CSFB acted as dealer manager for a tender offer for the republic's $300m (£186.8) principal amount of floating-rate notes, due 2005; as lead manager for a Securities and Exchange Commission-registered $135m (£84m) offering of global bonds, due 2033; and as initial purchaser in a $160m (£99.6m) private placement of the republic's floating-rate notes, due 2009. Cleary Gottlieb Steen & Hamilton represented the Republic of Colombia.
Linklaters (Peter Gray) represented the Saudi Petrochemical Company on a $200m (£124.5m) project for the construction and operation of a 250MW power plant and its tolling contract, with project vehicle Jubail Energy Company (JEC). JEC is a joint venture between affiliates of National Power Company and CMS Generation, which will co-manage the construction and operation of the plant. JEC was financed by bank debt from Credit Agricole Indosuez and Banque Saudi Fransi. Al-Sawwaf Law Office provided local law advice to Saudi Petrochemical, Allen & Overy advised the lenders, and Shearman & Sterling acted as counsel to CMS Generation. contacts
As well as weekly listings, The Lawyer Deals includes a rotating focus on different sectors:
4 August: Corporate
11 August: Real estate
18 August: Germany
25 August: Corporate
1 September: Finance
If you have deals you would like to be considered for inclusion, please fax them to: The Lawyer Deals, 020 7970 4640.
Alternatively, contact the reporters direct:
Corporate: Dearbail Jordan, firstname.lastname@example.org, or Helen Power, helen.power @thelawyer.com
Finance: Julia Cahill, email@example.com
Real estate & projects: Emma Vere-Jones, emma. firstname.lastname@example.org
Cordiant: Barry Russell, Andrew Rosenberg and Catherine Walters advised Cordiant's US institutional noteholders in relation to its restructuring, the bidding war over the company and its ultimate sale for £266m in stock and debt to WPP Group. Allen & Overy (A&O) advised Cordiant's banks and, in a separate team, advised WPP. Macfarlanes and White & Case advised Cordiant.
Bulmers: Barry Russell, Andrew Rosenberg and Abigail Milburn acted for Bulmers' US and UK institutional noteholders on the restructuring of the company and its sale for £278m to Scottish & Newcastle. A&O advised the banks. Herbert Smith advised Bulmers and Linklaters advised Scottish & Newcastle.
Huntsman Advance Material: James Roome and Brian Keeler represented Huntsman Advance Material in its acquisition of Luxembourg chemical company Vantico's debt notes for e360m (£255.7m) in cash and swapped notes for 100 per cent of Vantico's shares. Skadden Arps Slate Meagher & Flom also acted for Huntsman. A&O represented Vantico.