IFLR Search

Spain: Renewables restructuring trends

Iñigo de Luisa David Vidal As a result of the stable regulatory framework that now applies to the renewable energy sector and, in particular, the economic regime applicable to such projects, creditors and sponsors are able to successfully refinance them.

October 20 2016

Switzerland: Group financing

Daniel Lehmann Michael Abegg Interest paid on bonds as defined by the Swiss Federal Tax Administration (SFTA) for Swiss withholding tax (WHT) purposes, which may also include certain types of syndicated loans, issued by a Swiss tax resident debtor is generally subject to WHT at a rate of 35%. This may have an adverse impact on the competiveness of the Swiss capital market.

October 20 2016

Americas: Globalisation lives

Is globalisation retreating under populist pressure? Or are populist politics a sign of its force?

October 20 2016

China tightens debt-to-equity swap programme

China has officially banned banks from carrying out debt-to-equity swaps directly, a move which has been met with mixed reactions. The State Council issued a circular on October 10 stipulating that banks can only be involved in such transactions through so-called implementing institutions. These include financial asset management companies (AMCs), insurance AMCs and state-owned investment management companies.

October 20 2016

Asia: Big Brother

China's ambition to follow in Japan's footsteps and build a global business empire has not shown any signs of abating, with well-known Chinese billionaires leading the country's global expansionist drive. But the modern version of an (economically-driven) manifest destiny, made inevitable by China's accumulating wealth, is increasingly being met with heavy resistance from governments and grassroots advocacy groups alike.

October 20 2016

Boosting cross-border fund distribution

Regulators must break down the barriers to the distribution of funds across member states to improve cross-border investment and capital market activity in the EU, according to a September report by France's securities regulator.

October 20 2016

DEAL: Moscow City Ring Road section 3

Avtoban is on its way to achieving financial close on the multi-billion MCRR project

October 20 2016

DEAL: Petrobras’ $5.2 billion pipeline sale

Petrobras, the Brazilian state-owned energy company, is selling gas pipeline networks in a landmark deal. Local lawyers who worked on the $5.2 billion transaction see it as a sea-change in the country's energy market.

Edward Price, October 20 2016

Americas

Monica Arora Carl Frischling Following an August lull, September saw the return of lateral movement between leading US firms.

October 20 2016

Asia/Pacific

John Baptist Chan There have been some interesting developments in the past month in some of the larger markets in Asia-Pacific. In Hong Kong, Wall Street firm CADWALADER WICKERSHAM & TAFT decided to end its operations in Beijing and Hong Kong, becoming the third major firm - following Fried Frank Harris Shriver & Jacobson and Chadbourne & Parke - to do so in the past 15 months in what is becoming an increasingly tough market for international outfits.

October 20 2016

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