Linklaters

Clients turn to the team’s comprehensive expertise in equity-linked products, regulatory capital work, liability management, Islamic financing and high yield offerings.

Clients – which include global investment banks, corporates, sovereigns, municipalities and quasi-sovereigns – benefit from the team’s strong contacts with listing authorities and regulators around the globe. Linklaters offers clients an integrated global transactional practice, which includes over 170 US-qualified lawyers, located in London, New York and eight other offices worldwide. The team is renowned for its expertise in the US aspects of all debt and equity-linked issues.

A pre-eminent transactional track record across the established markets of the Americas, Asia, Europe and the Middle East is further enhanced by Linklaters’ unmatched experience of high profile deals in the world’s most important emerging economies.

Linklaters’ debt practice is flexible and has a history of adapting to meet its clients’ needs. Recently it has been extremely active assisting clients across its global network in connection with current market conditions: for example, the firm has been at the centre of developments such as the government's Credit Guarantee Scheme and Asset Protection Scheme in the UK, and has assisted clients around the world in structuring novel securities and other responses to address their funding requirements in rapidly changing market conditions.

In close co-operation with the firm’s market-leading banking and acquisition finance teams, Linklaters has advised on high yield issues in the US, Latin America and Asia and has pioneered covenant-intensive debt securities transactions across Russia and Central & Eastern Europe.

Recent debt capital markets transactions include advising

• a number of financial institutions on the UK government's Credit Guarantee Scheme
• Rio Tinto Finance (USA) Limited Advised on its $5bn offering of notes, believed to be the largest bond offering ever completed by a metals company
• The Royal Bank of Scotland Group plc on exchange offers and tender offers in relation to approximately £15bn in aggregate nominal amount of outstanding securities

• On CapitaLand Limited’s S$1bn award-winning convertible bond offering

• On Sumitomo Mitsui Financial Group’s award-winning $1.8bn preferred share issue

• On Yamada Denki’s award-winning $1.4bn convertible bond

• National Central Cooling Company (Tabreed) P.J.S.C on its AED1.7bn hybrid mandatory convertible sukuk, the first mandatory convertible Sukuk

• UBS on its issuance of CHF13bn Mandatory Convertible Notes

• On BNDES’s award-winning mandatory exchange of $1bn Notes

• On TMK Capital’s $600m loan participation notes, OAO Severstal on its issue of $1.25bn 9.75% loan participation notes and Evraz Group S.A. on its $1.3bn 8.875% Notes and $700m 9.50% Notes

• the joint lead managers and joint lead bookrunners on DP World’s $3.25bn Sukuk and note issue. The Sukuk was the first such issue to be eligible for clearing in the US through the DTC