Our experience covers the full range of bank regulatory capital, including SEC-registered, GMTN and EMTN programmes, AT1, Tier 2 and MREL issuances, liability management transactions and advice on legacy capital instruments and resolution planning. We worked on all of the first generation “CoCos” and we have advised on several “first in country” regulatory capital deals across Europe.

We have a long-established and deeply experienced MTN practice, including drafting and reviewing documents for drawdowns under these programmes, as well as the annual updates of programme documentation. Over the course of 2023 alone our global team have advised on the establishment of 20+ new MTN programmes, 170+ MTN programme updates and over 570 MTN programme drawdowns.

We are the leading law firm in the equity- linked market with an extensive track record in advising underwriters and issuers in relation to the most innovative transactions, including a high number of structured, privately placed transactions as well as equity neutral deals, the complexity of which plays to our strengths.

We advise on the full spectrum of liability management products, including exchange offers, tender offers and consent solicitations, as well as we provide advice relating to all regulatory aspects of liability management deals.

Linklaters is dominant in the UK retail bond market, leading the way in these fast evolving transactions. We have advised on the majority of bonds to have been publicly offered on the London Stock Exchange’s retail trading platform for last 10 years.

We have 70+ US securities and corporate lawyers based outside the US. The strength of our US capability allows us to advise on the full range of capital markets transactions involving high yield debt offerings, SEC-registered offerings (including shelf registration) and non-registered offerings made pursuant to Section 3(a)(2), Rule 144A and Regulation S.