Akzo Nobel - EMTN Programme, bond issue and cash tender offer

List of all recent work 

Slaughter and May, working as an integrated team with Advokatfirman Vinge KB and De Brauw Blackstone Westbroek London B.V., advised Akzo Nobel NV ('AkzoNobel') and Akzo Nobel Sweden Finance AB (publ) ('AkzoNobel Sweden') on the establishment of AkzoNobel and AkzoNobel Sweden’s Guaranteed Euro Medium Term Note Programme (the 'Programme'). Notes issued by AkzoNobel under the Programme are to be guaranteed by AkzoNobel Sweden and notes issued by AkzoNobel Sweden under the Programme are to be guaranteed by AkzoNobel. The Programme enables AkzoNobel and AkzoNobel Sweden to issue bonds denominated in offshore renmimbi ('Dim Sum' Bonds). The Royal Bank of Scotland plc is the arranger of the Programme.

Slaughter and May also advised AkzoNobel on its subsequent issue under the Programme of EUR800 million 4.000 per cent notes due 17 December 2018, guaranteed by AkzoNobel Sweden, as well as advising AkzoNobel Sweden on the repurchase of EUR175,050,000 in aggregate nominal amount of its EUR1 billion 7.75 per cent guaranteed bonds due 2014 at a purchase price of 111.491 per cent and AkzoNobel on the repurchase of EUR353,357,000 in aggregate nominal amount of its EUR975 million 7.250 per cent guaranteed bonds due 2015 at a purchase price of 115.070 per cent (together, the 'Bonds'), pursuant to a tender offer for the Bonds.

Financing: Philip Snell (partner), Ed Fife (associate), Stephen Fishbourne (associate), Charles Harvey (associate)