Deal digest

Author: | Published: 1 Feb 2005
BUPA: keeping its finances healthy

BUPA Finance in December 2004 issued £330 million ($621 million) in subordinated perpetual bonds. The issue by the UK healthcare provider is the first deal involving upper Tier 2 bonds to give the issuer unlimited discretion to defer interest payments. Slaughter and May advised BUPA Finance and BUPA Insurance, while Allen & Overy advised HSBC and ABN AMRO as lead managers.

German energy company E.ON refinanced its credit facilities in December. Allen & Overy advised E.ON and its subsidiaries on the €10 billion ($13 billion) deal, while Hengeler Mueller advised the lead arrangers and Slaughter and May advised Deutsche Bank as agent.

Freshfields Bruckhaus Deringer advised the preferred bidder in the construction of the €503 million M6 road project in Hungary, which closed in a record four-and-a-half months. Kent Rowey led the legal team that acted for the specially formed project company, M6 Duna Autópálya Koncessziós Részvénytársaság, BNP...