Debt Capital Markets
A global team that knows the markets inside out
Issuers, underwriters, investors and service providers in both emerging and developed markets for investment-grade, cross-over and high-yield credits turn to us for our experience in debt capital markets. With bases in all the major financial hubs, we can advise on your transactions worldwide.
We help issuers across multiple sectors, from real estate and financial services to technology and telecommunications, to structure and sell their debt securities. We handle these offerings internationally in the leading financial hubs, such as London, New York, Hong Kong, Singapore, Ireland and Luxembourg. And we have deep experience with bonds and other debt securities through various complex structures.
We have extensive cross-border experience in debt capital markets. With lawyers based in 40+ countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, and offices in the major financial hubs globally, we can advise on your transactions worldwide. We act for sponsors, arrangers, originators, depositaries and other parties on various capital markets offerings.
We advise on issuing investment grade, high-yield, convertible and exchangeable debt securities, eurobonds, commercial paper and medium-term note programs and on private placements including green, blue and other sustainability-linked issues. In structured finance, we advise on green/social investment bonds through to structured notes, securitizations and derivatives.
We also advise on liability management transactions, including exchange offers, bond tender offers and consent solicitations.
We have particular experience working on debt capital markets funding. Here, we act for multinational banks and insurers, for example, in regulatory capital issues of Tier 1, additional Tier 1, restricted Tier 1 and Tier 2 capital. With US- and English-qualified lawyers in our team, we advise on private offerings (Rule 144A), offerings outside the US (Regulation S), and SEC-registered debt offerings.
We work with our Tax, Derivatives and Financial Services Regulatory teams to offer integrated advice and support on your international transactions.
Awards and recognition
- A London based real estate investment trust on the issue of private placement notes to US institutional investors.
- A major Portuguese bank on the impact of negative interest rates on its outstanding debt issuance.
- Avation PLC, the London-listed commercial passenger aircraft leasing company, on its discussions with noteholders, their lawyers and financial advisers to achieve a successful maturity extension on its USD350 million 6.5% senior notes by more than five years from May 2021 to October 2026.
- Axis Bank and a British multinational bank as arrangers on the establishment of a Masala bond MTN Programme for an Indian Financial Institution and the IFC.
- Banca Generali, as placement agent, in connection with a revolving securitization transaction of receivables deriving from loans granted by Credimi to several Italian SMEs, in the context of the pandemic emergency caused by COVID-19.
- Bank of Beijing in relation to structured note issuances under the MTN Programme of CSI Financial Products Limited.
- Eastern Power Networks Plc on the issue of GBP150 million wholesale bonds under their GBP10 billion EMTN Programme.
- Edenor, the largest electricity distribution company in Argentina, on the successful exchange offer for Edenor’s 9.75% senior notes due 2022. The debt refinanced by the new bonds was allocated in accordance with social bond guidelines to refinance, in whole or in part, eligible projects designed to expand access to electricity in low-income communities, encourage the efficient use of electricity and install electronic “smart” meters to more efficiently measure electricity usage.
- Equity Residential (NYSE: EQR), an NYSE-listed residential REIT, in its USD500 million public green bond offering of 1.85% notes due 2031 and its at-the-market public offering of up to 13 million common shares.
- NuVasive, Inc. (NASDAQ: NUVA) in multiple offerings, including a USD450 million convertible senior notes offering and credit agreement amendment and a USD400 million offering 1% convertible senior notes due 2023.
- UniCredit S.p.A. and UniCredit Bank AG in connection with the renewal of the UniCredit’s Italian issuing platform (governed by Italian law) for the offer in Italy of certificates.
- VF Ukraine on a consent solicitation exercise to the holders of its outstanding USD500 million notes issued by VFU Funding PLC to obtain additional flexibility to make restricted payments subject to a leverage test
- W.P. Carey Inc. (NYSE: WPC) in multiple public debt offerings, including but not limited to a EUR500 million public debt offering of senior notes on the International Stock Exchange and a USD592 million public offering of aggregate principal amount of its 2% Senior Notes due 2023.
- Ziraat Bankası A.Ş., as issuer, on the establishment of its EUR1 billion global covered bond programme in Turkey and related issuance.