White & Case and Milbank take top roles on $15bn bond programme
White & Case and Milbank Tweed Hadley & McCloy have lined up on a $15bn (£9.4bn) covered bond programme that marks the first of its kind by a Nordic issuer in the US. White & Case advised the issuer, Stadshypotek, a Swedish mortgage institution, with a team led by London capital markets head Francis Fitzherbert-Brockholes alongside structured finance partner Gavin McLean, arbitration partner Claes Zettermarck and tax partner Raymond Simon.
October 08, 2010 at 09:47 AM
2 minute read
White & Case and Milbank Tweed Hadley & McCloy have lined up on a $15bn (£9.4bn) covered bond programme that marks the first of its kind by a Nordic issuer in the US.
White & Case advised the issuer, Stadshypotek, a Swedish mortgage institution, with a team led by London capital markets head Francis Fitzherbert-Brockholes alongside structured finance partner Gavin McLean, arbitration partner Claes Zettermarck and tax partner Raymond Simon.
Millbank advised the underwriters – Morgan Stanley, Deutsche Bank and Bank of America – with a team led by global securities partner Taisa Markus.
Stadshypotek has established a $15bn US medium term covered bond programme with an initial issuance of $1bn (£630.8m) of 1.45% covered bonds due in 2013 and $600m (£378.5m) of floating rate covered bonds also due in 2013.
The company is owned by Swedish bank Svenska Handelsbanken and is responsible for the bank's mortgage lending operations in the Nordic region.
Fitzherbert-Brockholes said: "A number of Swedish banks used the government's guarantee schemes in the financial crisis, but Handelsbanken did not need to and the market's view of the group's financial resilience can be seen in the pricing of this latest bond issue.
"There does seem to be an appetite for this kind of investment in the US market which provides opportunities for people looking to place their money in the short medium term. I expect we will see more offerings like this in the coming months."
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
German Court Orders X to Release Data Amid Election Interference Concerns
De Brauw Partner Departs for In-House Role with Swiss Family Enterprise
Hengeler Advises On €7B Baltica 2 Wind Farm Deal Between Ørsted and PGE
2 minute read
Trending Stories
- 1ACC CLO Survey Waves Warning Flags for Boards
- 2States Accuse Trump of Thwarting Court's Funding Restoration Order
- 3Microsoft Becomes Latest Tech Company to Face Claims of Stealing Marketing Commissions From Influencers
- 4Coral Gables Attorney Busted for Stalking Lawyer
- 5Trump's DOJ Delays Releasing Jan. 6 FBI Agents List Under Consent Order
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
