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Daniel Futej Rudolf Sivak As of January 1 2013, an amendment to the Slovak Act on energy efficiency of buildings came into force introducing several changes with respect to energy efficiency and certification of buildings. According to new legislation, provisions of the Act will not apply to buildings which are used for only a limited time during the year (during weekends or in summer, for example). The non-application is subject to the condition that the expected energy consumption of the building does not exceed 25% of the yearly expected energy consumption.

Noyan Turunç of TURUNÇ provides an overview of the new Turkish law on work health and safety

Fernando Navarro Coderque A number of Spanish companies are nowadays struggling to get new money or to restructure their debt, but traditional financing seems to be still unavailable. In most cases the reason is not the poor fundamentals of such companies but rather that their regular lenders are not in a position to incur further risk with them. Certain companies are therefore looking for new sources of financing and at the same time for another type of financier. For this purpose, high-yield bonds are becoming popular, usually combined with a revolving credit facility, which is a structure that has been used by large Spanish companies where restructuring their debt.

It has been less than a year since IFLR published its 2012 Guide to Turkey, and in that time the country has taken strides towards its goal of becoming an international financial centre.

Sevket Basev of 3 Seas Capital Partners introduces the encouraging developments in Turkey’s M&A market over the last decade

Noyan Turunç and Kerem Turunç of TURUNÇ provide an overview of recent developments in the Turkish private equity market

Gönenç Gürkaynak and Bora Ikiler of ELIG Attorneys-at-Law discuss recent trends in the Turkish merger-control regime

Zeynel Tunc and Asli Kehale Altunyuva of Paksoy examine the continuing liberalisation of Turkey’s oil and gas market

The final draft of the Capital Requirements Regulation (CRR) has widened the proposed definition of assets considered as top class regulatory capital. Certain covered bonds could now be treated as tier 1 capital, alongside sovereign bonds.

On April 23 2013 Canadian securities regulators provided exemptive relief to a number of foreign investment banks, so that under certain circumstances, foreign issuers (including governments) can make private placement offerings to permitted clients in Canada as part of a global offering, without supplemental Canadian disclosure.