Powerful project: US firm Shearman & Sterling advised more than 20 lenders, including the US Government, on arranging $2.1bn (£1.3bn) of financing for Bahrain’s Al Dur water and power production project, which is expected to yield 1,230 megawatts of energy. A mix of commercial bank loans, export credit direct loans, export credit covered loans and Islamic financing instruments were used. The Bahraini government was advised by magic circle firm Freshfields.
Share issue: City firm Norton Rose advised investment bank Jefferies International as sponsor on a share issue by investment company JZ Capital Partners, which raised £140m. City firm Ashurst advised JZ Capital Partners, while Guernsey firm Mourant du Feu & Jeune advised on Guernsey law.
In the air: Magic circle firm Clifford Chance advised GKN, the helicopter designer, on a £423m rights issue. GKN said the extra capital will give it greater flexibility in current market conditions, reduce its reliance on debt financing, and allow it to take advantage of growth opportunities. Clifford Chance provided UK and US legal advice.
Hair today: City firm Herbert Smith, alongside Chinese firm King & Wood, advised herbal shampoo maker BaWang on its $215m (£133m) listing on the Hong Kong stock exchange. Magic circle firm Freshfields, alongside Chinese firm Commerce & Finance Law Offices, advised HSBC and Morgan Stanley as joint bookrunners.
Fired up: National firm Beachcroft advised John Laing and Shepherd Construction on securing private finance initiative contracts, worth £35m, to build five fire stations and a headquarters for three fire authorities in the north east. Newcastle firm Dickinson Dees advised the fire authorities.
Pilgrims’ progress: City firm Simmons & Simmons advised Japanese businessman Yasuaki Kagami and Kabushiki Kaisha K&K Shonan Management, and City firm Field Fisher Waterhouse advised Mastpoint, on acquiring a controlling stake in Plymouth Argyle Football Club. The selling shareholders were advised by Plymouth firm Wolferstans.