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White & Case Advises E.ON on €750 Million Green Notes Issuance

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

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 EU 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.

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Marc Petitier Joins White & Case as a Partner in Paris

Global law firm White & Case LLP has expanded its Global Mergers & Acquisitions Practice with the addition of Marc Petitier as a partner in Paris.

“The strength of our global network, with on-the-ground market leading expertise in many of the world’s most important jurisdictions, means we can advise clients on their most complex cross border matters wherever their transactions take place,” said White & Case partner John Reiss, Head of the Global Mergers & Acquisitions Practice. “Marc’s reputation as a leading M&A partner will enhance our existing corporate capabilities in Paris and complement our strengths in finance, restructuring and disputes, which are more important than ever in the current economic climate.”

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 M&A deals, 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.

Denise Diallo, White & Case Executive Partner in Paris, said: “Marc’s arrival builds on our success and growth in Paris and follows the addition of a team of private equity partners led by Saam Golshani at the end of 2018, the arrival of partners Jean-Luc Champy and Amaury de Feydeau in February 2020 and Emilie Rogey in September 2019, and the four partner promotions at the start of 2021. Marc’s reputation and corporate relationships make him the perfect fit to bring additional prestige and capabilities to the Paris office and also present a great opportunity to reinforce and diversify our client base, through strong client synergies and overlap with Marc’s practice.”

Partner Oliver Brettle, a member of White & Case’s global Executive Committee, said: “We continue to invest and grow across the major EU markets, which have seen great success in recent years and remain extremely important to our global clients. The addition of Marc supports this focus as well as the Firm’s strategy for growth in key global practices and industries, including M&A, technology and financial institutions.”

Bloomberg ranked White & Case first by value for cross-border M&A for the first nine months of 2020.

White & Case advises on Nordnet’s SEK 10.378 billion IPO

Global law firm White & Case LLP has advised Carnegie Investment Bank AB, J.P. Morgan Securities plc and Citigroup Global Markets Limited, as joint global coordinators, and ABG Sundal Collier AB, Joh. Berenberg, Gossler & Co. KG, DNB Bank ASA, Sweden branch and Skandinaviska Enskilda Banken AB (publ), as joint bookrunners, on the SEK 10.378 billion initial public offering (IPO) and Nasdaq Stockholm listing of Nordnet.

Founded in 1996, Nordnet is a leading pan-Nordic digital savings and investments platform. It was one of Sweden’s first internet brokers and later expanded its operations to include banking and pension services. Nordnet is now primarily active in three business areas: savings and investments, pensions and loans.

The shares of Nordnet started trading on Nasdaq Stockholm on 25 November 2020.  The offering was substantially over-subscribed, attracting very strong interest from large Swedish and international institutional investors as well as the general public in Sweden, Norway, Denmark and Finland. The market capitalisation of Nordnet, based on the IPO price of SEK 96 per share, is approximately SEK 24 billion.  As a result of the IPO, Nordnet will have more than 32,000 shareholders.

The White & Case team which advised on the transaction was led by partners Johan Thiman (Stockholm) and Mikko Hulkko (Helsinki) and included partners Chad McCormick (Houston) and Martin Järvengren (Stockholm), counsel Doron Loewinger (London) and associates Christoffer Nilmén, Antonia Severin, Christian Meijling and Johanna Wagner (all Stockholm), Thomas Killeen (Helsinki), Laura Kitchen (London) and Michael Rodgers (Houston).

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 Investment in smartTrade Technologies

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

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.

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