Michele Discepola

Michele Discepola

Capital Markets Partner, Singapore

"I am an international capital markets specialist with a particular focus and expertise on high-yield debt issuances. I am responsive and offer clients technical expertise and commercial awareness so as to provide them with optimal solutions on their transactions. I have acted on the substantial majority of high-yield issuances out of India and am also active in other jurisdictions, including Indonesia, Thailand, Vietnam, Australia, Saudi Arabia and the UAE."

Overview

Professional experience

Education and qualifications

Overview

Michele has over a decade of experience advising issuers and underwriters on the full range of international capital markets transactions, including advising on high-yield and investment-grade debt offerings, offerings of equity-linked products, structured finance and exchange offers as well as liability management and restructuring exercises.

Work highlights

Michele has advised on many market-leading transactions, including having:

  • ReNew Power Private Limited:
  • advised the lead managers on the Reg S/Rule 144A issuance of US$325m 5.375% Senior Secured Notes due 2024 issued by special purpose vehicle, India Green Energy Holdings (IGEH), the proceeds of which were used by IGEH to subscribe to eleven series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by eleven subsidiaries of, and guaranteed by, ReNew Power.
  • advised the lead managers on the Reg S/Rule 144A issuance of US$460m 4.0% Senior Secured Notes due 2027 issued by special purpose vehicle, India Green Power Holdings (IGPH), the proceeds of which were used by IGPH to subscribe to seven series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by seven subsidiaries of, and guaranteed by, ReNew Power.
  • IRB Infrastructure Developers Limited: advised the lead managers on the Reg S/Rule 144A issuance of US$300m 5.5% Secured Notes due 2024 issued by special purpose vehicle, India Toll Roads (ITR), the proceeds of which were used by ITR to subscribe to rupee-denominated senior secured bonds issued by IRB Infrastructure Developers.
  • Continuum Green Energy: advised Continuum Energy Levanter (Levanter), a special purpose vehicle and wholly-owned subsidiary of Continuum Green Energy, on its Reg S/Rule 144A issuance of US$561m 4.50% Senior Notes due 2027, the proceeds of which were used by Levanter to subscribe to seven series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by seven subsidiaries of Continuum Green Energy.
  • Hero Future Energies Asia: advised Clean Renewable Power (Mauritius) Pte. Ltd. (CRP), a special purpose vehicle and wholly-owned subsidiary of Hero Future Energies Asia, on its Reg S/Rule 144A issuance of US$363m 4.25% Senior Notes due 2027, the proceeds of which were used by CRP to subscribe to eight series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by eight subsidiaries of Hero Future Energies Asia.
  • Delhi International Airport Limited: advised the lead managers on the Reg S/Rule 144A issuance of US$450m 6.25% Secured Notes due 2025 issued by special purpose vehicle, Cliffton Limited (Cliffton), the proceeds of which were used by Cliffton to subscribe to rupee-denominated senior secured bonds issued by Delhi International Airport Limited.

Professional experience

Further work highlights
  • ReNew Power Private Limited:
  • advised the lead managers on the Reg S/Rule 144A co-issuance of US$525m 6.67% Senior Secured Notes due 2024 co-issued by eight subsidiaries of, and initially guaranteed by, ReNew Power - this was the first co-issuance transaction from India and one of the first out of Asia.
  • advised the lead managers on the Reg S/Rule 144A issuance of US$475m 6.0% Senior Secured Notes due 2022 issued by special purpose vehicle, Neerg Energy Limited (Neerg), the proceeds of which were used by Neerg to subscribe to seven series of rupee-denominated, US$-settled, senior secured bonds issued (and cross-guaranteed) by seven subsidiaries of, and guaranteed by, ReNew Power.
  • Azure Power Global Limited: advised Azure Power Solar Energy Private Limited (APSEPL), a special purpose vehicle and wholly-owned subsidiary of Azure Power Global Limited, on its Reg S/Rule 144A issuance of US$350m 5.65% Senior Notes due 2024, the proceeds of which were used by APSEPL to subscribe to ten series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by ten subsidiaries of Azure Power Global Limited.
  • Delhi International Airport Limited: advised the dealer managers/solicitation agents in connection with the offer to purchase for cash by Delhi International Airport Limited (DIAL) of its 6.125% Senior Secured Notes due 2022 (2022 Notes), together with a concurrent solicitation of consents by DIAL from holders of its 2022 Notes, its 6.125% Senior Secured Notes due 2026 and its 6.45% Senior Secured Notes due 2029 to seek the approval of certain proposed amendments to the respective indentures governing such Notes.
  • Samvardhana Motherson Automotive Systems Group B.V.:
  • advised the lead managers on the Reg S/Rule 144A issuance of US$300m 4.875% Senior Secured Notes due 2021 by Samvardhana Motherson Automotive Systems Group B.V.
  • advised the lead managers on the Reg S/Rule 144A issuance of €300m 1.80% Senior Secured Notes due 2024 by Samvardhana Motherson Automotive Systems Group B.V.
  • PT Agung Podomoro Land Tbk: advised the lead managers on the Reg S issuance of US$300m 5.95% Senior Notes due 2024 by PT Agung Podomoro Land Tbk.
  • Press Metal Aluminium Holdings Berhad: advised the lead managers on the Reg S issuance of US$400m 4.30% Senior Notes due 2022 by Press Metal Aluminium Holdings Berhad.
  • Minor International Public Company: advised the lead managers on both of Minor International Public Company Limited's Reg S issuances of Guaranteed Senior Perpetual Capital Securities, guaranteed by Bangkok Bank Public Company Limited.

Education and qualifications

Michele holds a Bachelor of Civil Law from the Université de Sherbrooke and a JD/MBA from the University of Toronto.

He is fluent in English and French and conversational in Italian.