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White & Case Advises on EUR 750 Million Green Notes Issuance

Note issuance is an underwriting agreement in the Eurocurrency market under which borrowers place short/medium term notes via a syndicate of prime/commercial banks, and the borrowers’ issue is backed by the commitment of the syndicate banks to purchase any paper which the borrowers may be unable to sell.

White & Case LLP has advised E.ON SE on the issuance of Green notes with an aggregate principal amount of €750 million.

White & Case is a global law firm with longstanding offices in the markets that matter today. Our on-the-ground experience, our cross-border integration and our depth of local, United States and English-qualified lawyers help our clients work with confidence in any one market or across many.

E.ON intends to use an amount equal to the net proceeds from the issuance for ‘Eligible Green Projects’ in line with its Green Bond Framework, which is the first European Union Taxonomy aligned green bond framework.

The notes have a term of slightly under 12 years and a fixed coupon of 0.600%, and were admitted to trading on the regulated market of the Luxembourg Stock Exchange.

The White & Case team in Frankfurt which advised on the transaction was led by partner Karsten Wöckener and included local partner Peter Becker and associate Daniel Gillenkirch.

White & Case Overview

White & Case LLP is an international law firm based in New York City. Founded in 1901, the firm has 45 offices in 31 countries worldwide.

White & Case is one of the top ten law firms worldwide in terms of revenue.

Lawyer Marc Petitier Joins White & Case

White & Case LLP is an international law firm based in New York City. Founded in 1901, the firm has 45 offices in 31 countries worldwide. White & Case is one of the top ten law firms worldwide in terms of revenue.

We guide our clients through difficult issues, bringing our insight and judgment to each situation. Our innovative approaches create original solutions to our clients’ most complex domestic and multijurisdictional deals and disputes.

Marc Petitier is a renowned corporate lawyer who has led on many of the most significant corporate transactions originating from France, advising clients on public and private mergers and acquisitions, sales and joint ventures, and corporate governance.

He has experience across a number of different sectors, including technology, financial institutions, energy and infrastructure, and on Africa-related deals.

Petitier brings 20 years of experience and joins White & Case joins from Linklaters, where he was a partner.

White & Case is a global law firm with longstanding offices in the markets that matter today. Our on-the-ground experience, our cross-border integration and our depth of local, United States and English-qualified lawyers help our clients work with confidence in any one market or across many.

By thinking on behalf of our clients every day, we anticipate what they want, provide what they need and build lasting relationships.

We do what it takes to help our clients achieve their ambitions.

White & Case advises Calastone on sale to The Carlyle Group

Global law firm White & Case LLP has advised the management team of Calastone on the acquisition by The Carlyle Group of a controlling interest in Calastone, the management team retaining a minority stake.

Founded in 2007, Calastone is the largest global funds network, connecting the world’s leading financial organisations with over 2,300 clients in 43 countries and territories and processing £200 billion of investment value each month. Calastone has helped to transform the funds industry by creating innovative new ways to automate and digitalise the global investment funds marketplace, reducing frictional costs and lowering operational risk to the benefit of all.

White & Case advised Calastone management on the sale process, as a result of which global investment firm The Carlyle Group agreed to acquire a controlling interest in Calastone from its current shareholders, including Octopus Ventures and Accel. Calastone management retains a minority stake.

The transaction is subject to regulatory approval. Financial terms of the transaction are not disclosed.

The White & Case team in London that advised on the transaction was led by partner Mike Weir and included partners David Goldberg and Daniel Turgel and associates James Turner and Josephine Levick.

White & Case advises Calpine on $1.5 Billion of senior notes offerings

Global law firm White & Case LLP has advised Calpine Corporation on the private placement of $650 million in aggregate principal amount of its 4.625% senior notes due 2029 and $850 million in aggregate principal amount of its 5.000% senior notes due 2031. Each offering was upsized at pricing from an initial tranche size of $500 million. White & Case also advised on concurrent tender offers to repurchase and redemptions of the company’s 5.550% senior notes due 2024 and 5.750% notes due 2025.

Calpine is America’s largest generator of electricity from natural gas and geothermal resources and one of the largest retail providers of power.

The White & Case Capital Markets team was led by partners Gary Kashar and Andrew Weisberg, and included partner David Dreier, counsel Isaac Tendler and Heidi Schmid, and associates Abigail Simon, Cesar Briceno Lopez, Kate Warrick, Ami Shin, Appy Ali, Kyle Ezzedine and Robin Heszkel (all in New York).

White & Case Advises Hg On Technology Investment

Information technology investment means an expenditure of information technology resources to address mission delivery and management support.

White & Case law firm has advised Hg on its planned investment in smartTrade Technologies, a global leader in managed services and hosted software for trading desks.

Hg is a private equity firm targeting technology buyouts primarily in Europe and the US. Hg focuses on investments in technology and services sectors.

It invests out of its 8th £2.5 billion core fund and its 2nd £575 million Mercury fund, targeting smaller technology buyouts, both raised in February 2017.

The transaction was announced on February 7, 2020.

Hg is a specialist private equity investor focused on software and service businesses. It has led more than 150 investments in the software and services sector during the last 25 years.

The White & Case team in Paris which advised on the transaction was led by partner Nathalie Nègre-Eveillard and included partner Clara Hainsdorf, with support from counsel Valérie Ménard and associates Alexandre Giacobbi, Amandine Grima, Caroline Lyannaz, Laura Tuszynski and Dany Luu.

White & Case Overview

Supporting our clients around the globe

White & Case is a truly global law firm, uniquely positioned to help our clients achieve their ambitions in today’s G20 world.

As a pioneering international law firm, our cross-border experience and diverse team of local, US and English-qualified lawyers consistently deliver results for our clients.

In both established and emerging markets, our lawyers are integral, long-standing members of the community, giving our clients insights into the local business environment alongside our experience in multiple jurisdictions.

We work with some of the world’s most respected and well-established banks and businesses, as well as start-up visionaries, governments and state-owned entities.

White & Case advises insurers on restructuring of Trakcja PRKiI

Global law firm White & Case LLP has advised AXA Ubezpieczenia Towarzystwo Ubezpieczeń i Reasekuracji S.A., Credendo – Excess & Surety Societe Anonyme operating in Poland through Credendo – Excess & Surety Spółka Akcyjna Branch in Poland, Generali Towarzystwo Ubezpieczeń S.A., Korporacja Ubezpieczeń Kredytów Eksportowych S.A., Sopockie Towarzystwo Ubezpieczeń Ergo Hestia S.A., Powszechny Zakład Ubezpieczeń S.A. and Uniqua Towarzystwo Ubezpieczeń S.A. on the restructuring of the financial debt of Trakcja PRKiI S.A. and its subsidiaries.

As a result of the restructuring, Trakcja PRKiI S.A. obtained overall financing of around PLN 1.2 billion in the form of various financial instruments including revolving loans, subordinated loans, funds from share capital increases, bank guarantees and insurance guarantees.

“This is one of the most complicated restructurings in Poland in recent years,” said White & Case partner Tomasz Ostrowski. “The document approval process took more than six months and involved more than ten financial institutions. The documentation is governed by Polish law, but the transaction also includes important elements of English and Lithuanian law.”

The White & Case team in Warsaw which advised on the transaction included partner Tomasz Ostrowski and local partner Aneta Urban.

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