Hungary > Capital markets
Capital markets
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Andrékó Kinstellar has been active on deals referred by former head office, and now best friend, Linklaters in London, a relationship that seems set to continue. Managing partner Csilla Andrékó continued to advise the Hungarian Debt Management Agency with a SEC filing on behalf of the Republic of Hungary and also carried out analysis of cross border private banking service provision for Credit Suisse.
Gábor Felsen of Lakatos, Köves and Partners advised on issues from securitisations to derivatives and issues related to the implementation of MIFID. His clients include Morgan Stanley and RBC Capital Markets, the latter on a Hungarian security package related to a financing for Westcast.
Morley Allen & Overy Iroda’s Zoltán Lengyel is rated for his ability, particularly in debt transactions. Highlights from the last year include advising HSBC on a contigent forward sale agreement. Following legislative changes, the team also won instructions to update EMTN programmes for OTP and FHB mortgage banks, and subsequently advised on issuing mortgage notes.
Zsuzsa Kovács heads a well-balanced team at Réczicza White & Case LLP. Kovács recently advised AAA Auto Group listing on the Budapest Stock Exchange, while the firm acted as Hungarian counsel to Plaza Centers, listing on the London Stock Exchange. Edward Keller and Orsolya Szabó acted as UK, US and Hungarian counsel to Invitel on FRN and PIK Note offerings worth more than €340m in total. Clients are ‘happy with their style.’
Siegler Law Office/Weil, Gotshal & Manges has a strong track record in handling large and complex capital markets transactions, acting for mortgage bank FHB in its €255m accelerated bookbuilding equity offering. Konrád Siegler led advice to Central Fund Venture Capital Fund Management, setting up a fund to concentrate on the turnaround sector under new Hungarian investment fund laws. BNP Paribas and Danubius Hotels are clients.
CMS Cameron McKenna LLP’s two-partner team advised finance clients OTP Bank, CIB Bank and FHB Bank on issues including CSA and ISMA agreements.
Erös Ügyvédi Iroda Squire, Sanders & Dempsey L.L.P. has advised clients on securitisation issues. The firm is also experienced at forming real estate investment funds.
Law Office of Gárdos, Füredi, Mosonyi, Tomori’s Erika Tomori is a lecturer in securities law.
Gide Loyrette Nouel – Ferenczy’s role as adviser to French financial institution Groupama put it centre stage in two large capital markets-based transactions of the year, that company’s acquisitions of insurance company OTP Garancia and of an eight per cent stake in OTP Bank. Balázs Ferenczy leads a team that also handled a significant derivative transaction for a major client.
‘Clear, prompt and timely’ Horváth & Partners DLA Piper brought the capital markets expertise of partner András Posztl to bear on a number of key transactions in 2008, including OMV on its high-profile but ultimately unsuccessful hostile takeover bid for Hungarian oil and gas company Mol. It acted for HSBC Bank as bookrunner and sole underwriters on the above FHB transaction and advised Blackrock Investment Managers registering funds in Hungary.
Martonyi és Kajtár Baker & McKenzie saw partner Zoltán Martonyi leave to set up his own practice. The firm acted on a number of sizeable transactions, including representing the Republic of Hungary in its first issue of bonds in the Swiss capital markets.
The former Freshfields Bruckhaus Deringer Budapest office, Oppenheim took on notable securitisation mandates during its first year as an independent law firm. It advised OTP Bank on an ISDA-based derivative dispute worth a notional €1bn. Other clients include CitiGroup and JPMorgan. ‘Solution orientated’ Mihály Barcza heads the practice.
A team led by Partos & Noblet’s partner Christopher Noblet represented fund management companies including Garamtiqa and advised the Hungarian Development Bank on the launch of a venture capital fund.
Szecskay Attorneys at Law’s experience includes IPOs and securitisation transactions; Judit Budai is the relevant partner.