Capital Markets

Advising Keefe Bruyette & Woods as placement agent for subordinated debt issues by a number of UK insurers.

Acting for a US financial guarantor in relation to its $253 million triple-A rated financial guarantee of an asset backed securitisation sponsored by a French containership operator for the purpose of acquiring 12 newbuild container vessels. This was the first ever shipping securitisation to acquire vessels inspired from the single tenant aircraft securitisation methodology. The transaction was structured to involve three different funding sources, including triple-A rated asset backed, guaranteed securities, subordinated loan finance from a syndicate of shipping banks and fully subordinated corporate bonds. Follow up advice on several defaults/waivers and restructuring.

Advising an Indian telecommunications company on the issue of convertible bonds listed on the Luxembourg Stock Exchange.

Advising a major French bank as arranger of a €170 million trade receivables securitisation.

Acting for Turkish owners Geden Lines on their proposed USD $150 million bond issue through lead managers Pareto Securities ASA for a private placement to provide finance towards Geden’s existing and future new build programme.

Advising an electricity transmission operator on the establishment of a €6 billion medium-term note programme.

Advising ING Bank N.V. as sponsor and financial adviser to the recommended tender offer by Bank of Georgia Holdings Plc to acquire the entire share capital of Joint Stock Company Bank of Georgia held in the form of global depositary receipts and ordinary shares and the proposed application for admission of Plc’s ordinary shares to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange.

Advising Omega Insurance Holdings Limited on the application for admission of its common shares to the Official List and to trading on the London Stock Exchange’s Main Market and on its concurrent offer on behalf of its subsidiary Omega Dedicated Limited to acquire up to £125 million of capacity on Lloyd’s Syndicate 958 for 2010 and each subsequent year of account.

Advising Catlin Group Limited and the newly formed Bermudian Class 3 reinsurer Long Bay Re Ltd on the proposed IPO on AIM of Long Bay and its proposed provision of collateralised reinsurance cover for a selected portion of the catastrophe risk portfolio of certain members of the Catlin Group.

Advising Lancashire Holdings Limited on its USD $1 billion IPO and listing on AIM, which was the largest-ever IPO on AIM, and its subsequent upgrade to trading on the Main Market of the London Stock Exchange, resulting in a market capitalisation of £860 million.

Acting as issuer’s counsel to PJSC Novorossiysk Commercial Sea Port, on its successful IPO of shares in the form of GDRs, which raised US$1 billion and included both a Russian domestic offering and an international offering to investors pursuant to Rule 144A and Regulation S, with an admission to trading of the GDRs on the London Stock Exchange.

Advising Xeo Exploration Plc, a company formed by EnCore Oil Plc for the purposes of exploiting certain exploration and appraisal assets located in the North Sea and the East Irish Sea, in connection with its proposed listing on AIM and raising funds by way of a placing to institutional investors and an offer to shareholders of EnCore Oil Plc.

Advising Morgan Stanley and Unicredit, as sponsors, in connection with the IPO and listing on the London Stock Exchange of shares of JSC Acron, a leading Russian and global mineral fertilizer producer. Acron’s market capitalisation post listing was US$4 billion, making it one of the largest Russian companies to list on the LSE. Rule 144A Element.