JULY 2014

Transactions

Ergo and pbb finance Schwabinger Tor project in Munich

German lender pbb Deutsche Pfandbriefbank, part of the Hypo Real Estate group, and insurer ERGO, part of reinsurer Munich Re, have provided €388m in loan facilities to Munich private group Jost Hurlinger for the Schwabinger Tor urban quarter project.

pbb, which structured the transaction and is acting as arranger, facility and security agent, said it provided €188m and ERGO €200m in a 20-year facility to developer and asset manager Jost Hurler. “The financing for the Schwabinger Tor project underscores pbb’s strong market position,” said Board Member Bernhard Scholz. “In a highly competitive environment, we convinced our client thanks to pbb’s high level of structuring expertise.” The transaction highlights the good cooperation with an insurance company lender, he noted.

Added ERGO Board Member Daniel von Borries: “ERGO keeps expanding its investments in real estate loans. A dedicated commercial real estate finance team has been in place since last year. Thanks to the long tenor and the special location of the project, the Schwabinger Tor development is a perfect match to the equally long-term liabilities of our group's life and health insurance companies.”

The 90,000 sq.m. Schwabinger Tor project will consist of nine buildings on Munich’s Leopoldstrasse high street. The 3.5 ha. plot – formerly used by German wholesaler Metro – will have retail, gastronomy and a day-care centre as well as 200 flats, 18,000 sq.m. of office space and a 14-storey 5-star-plus 280-room ANDAZ by Hyatt hotel. The Jost Hurler group leases and finances assets in Germany and Austria, and is a active in project developments. LM

Legal adviser to pbb and Ergo:

Ergo and pbb finance Schwabinger Tor project in Munich

Legal adviser to Ergo:

91

Legal adviser to Jost Hurler:

This announcement appears as a matter of record only

SEVERALMAZ placing of additional shares in the company by open subscription

FBK Legal's has announced that its Corporate department has assisted SEVERALMAZ in the placing of additional shares in the company by open subscription.

An FBK statement explained in addition that "Owing to the issue of additional shares SEVERALMAZ can attract additional investments to an amount of about RUB 16 billion."

FBK Legal prepared a package of documents for the issue registration and a prospectus of the emission of shares. The Bank of Russia registered them on May 13, 2014. According to Dmitry Kudrin, the FBK Legal Corporate Practice lawyer heading the project, the plan is to complete the project by the end of the year, and "the final stage will be to have the report on the results of capital issue registered."

SEVERALMAZ, in Russia's Archangelsk Oblast, mines the Lomonosov diamond field, which is believed to have reserves of about 200 billion carats of rough diamonds.

Our firm accompanied placing of additional shares of SEVERALMAZ by open subscription including preparing issue prospectus.

Dmitry Kudrin, Chief Legal Adviser of FBK Legal led the transaction.

Particular attention was devoted to the new legislative requirements for the registration of additional shares, which entered into force in 2013. Moreover, this was the first registration of issue prospectus performed by our lawyers after the abolition of the Federal Service for Financial Markets, whose powers were transferred to the bank of Russia.Despite these difficulties, we not only have successfully registered the issue prospectus, but also tried a new feature that allows you to send the documents on preliminary consideration to the Bank of Russia. LM

SEVERALMAZ placing of

additional shares in the company by open subscription

Legal advisor to SEVERALMAZ:

This announcement appears as a matter of record only www.lawyer-monthly.com

Schwabinger Tor Project

SEVERALMAZ