Overview
Andrew is a Partner in the London capital markets team. Andrew has a broad practice advising financial institutions, corporates and sponsors on a range of debt capital markets matters.
Andrew has particular expertise on regulatory capital transactions in the bank and insurance sectors and regularly advises on high profile and “first of a kind” transactions in those sectors. Andrew also has extensive experience of advising on hybrid capital, private credit and liability management transactions.
Andrew is ranked “Up and Coming” in Chambers UK and Global 2025 (Capital Markets: Debt).
Work Highlights
- AXA on treasury matters including LIBOR to SONIA and LIBOR to SOFR consent solicitations (the first of their kind by a French insurer) and cash tender offers
- the managers on Eesti Energia AS’s €400m perpetual green hybrid bond, the first ever hybrid bond issued in the Baltics and in CEE (excluding real estate) to be offered internationally and listed on the LSE
- IG Group Holdings on the establishment of its £1bn EMTN programme and £300m debut bond issuance as part of a comprehensive refinancing of the group’s debt facilities following its acquisition of tastytrade, Inc.
- Investec on its £350m AT1 issuance, cash tender offers and debt issuance programme updates
- Lloyds Banking Group on treasury matters including its debt issuance programmes, capital issuances, legacy capital and liability management exercises (including the UK’s first on-market purchase of preference shares to be structured as an exchange offer)
- Phoenix Group Holdings on treasury matters, including its US$750m and US$500m RT1 issuances, its £350m Tier 2 issuance and related cash tender offer and issuer substitutions in the context of its £3.3bn acquisition of ReAssure
- Royal London on its £600m Tier 2 issuance, its £350m RT1 issuance (the first such issue by a mutual) and a related cash tender offer
- the underwriters on Standard Chartered’s AT1 capital issuances (including the first UK AT1 with dynamic subordination language), $77.5bn debt issuance programme updates and drawdowns thereunder, including its inaugural €500m sustainability bond, and on tender offers and consent solicitation exercises
- various issuers in respect of their bond issuances and liability management transactions, including ageas SA/NV, Aviva, esure, Ethias SA, Fidelidade, Friends Life, getir, ING Bank A.Ş., Just Group, Marex, OP Corporate Bank, Pension Insurance Corporation, RSA Insurance Group, SIX Group, TSB Bank, Türkiye Sinai Kalkinma Bankasi, Unilever, United Utilities and Vodafone
- the underwriters in respect of bond issuances for various issuers, including abrdn, Alpha Bank, Athora Holding Ltd, Biocartis, Compre Group, European Investment Bank, Julius Baer, KBC, Legal & General, Luminor, Nordea, Qatar Insurance Company, Santander UK, Siauliu Bankas, Signify and Wells Fargo
- a range of banks and insurers in respect of private capital raisings and capital management activities, including private placements and intra-group subscriptions of Tier 1, Tier 2 and Tier 3 capital and Ancillary Own Funds transactions
Admissions