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Baker McKenzie

Work 020 7919 1000
Fax 020 7919 1999

Simon Porter

Work 020 7919 1970
Baker McKenzie

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London: Corporate and commercial

Equity capital markets

Within: Equity capital markets

The team at¬†Baker McKenzie¬†acts for a range of issuers and underwriters on cross-border mandates.¬†James Thompson¬†and Simon Porter¬†acted for Global Ports Holding on its ¬£154m IPO on the LSE; also in the Turkish space,¬†Mavi Giyim Sanayi ve Ticaret instructed Thompson and¬†Nick O‚ÄôDonnell¬†on its TRY1.17bn IPO on the Borsa ńįstanbul, which was Turkey's largest IPO in five years. UK- and US-qualified group head¬†Adam Farlow¬†assisted Nyrstar with a ¬£100m sale of shares via a private placement. On the underwriter side, O'Donnell advised EFG Hermes and Citigroup as joint bookrunners on ADES International Holding's $243m IPO. Deutsche Bank is another underwriter client. Edward Bibko left in September 2017 for an in-house role at Jefferies.

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London: Finance

Debt capital markets

Within: Debt capital markets

Baker McKenzie's London office is a key hub for emerging markets debt issuance, in which the firm is one of the most prominent players. Frequently acting for first-time issuers, the practice is known for successfully navigating complex political and economic environments to ensure the efficient execution of complex transactions. A key strength is its ability to call on¬†English and US law capability in London, which enables it to handle¬†Rule 144a offerings into the the US market.¬†Adam Farlow¬†¬†focuses mainly on¬†high yield transactions but applies his in-depth knowledge of US securities law on a broad range of debt deals.¬†Simon Porter¬†leads the firm's corporate trust practice and is also regarded as one of the UK's leading experts in Turkish deals. Together, they assisted Deutsche Trustee Company with the restructuring of more than ‚ā¨4bn in outstanding bonds of Abengoa.¬†Roy Pearce¬†is recommended for representing¬†issuers and investment banks in Eurobond issuance and debt restructuring, with a particular focus on offerings from Central and Eastern Europe and the CIS. His recent highlights include acting for mining and steel company¬†Metinvest on the restructuring of $2.3bn of debt.

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Derivatives and structured products

Within: Derivatives and structured products

Baker McKenzie advises on complex hedging arrangements for numerous large, cross-border securitisations and syndicated debt financings, as well as in connection with several more esoteric and bespoke structured derivatives deals. The firm's global presence sees it handle transactions involving new clients in a broad range of jurisdictions including Africa, the Middle East and Russia, as well as in specific industry sectors such as energy, mining and infrastructure. Its work in 2017 comprised day-to-day hedging activities for international financial institutions and corporates, as well as high-profile and complex transactions. Last year, the firm acted for Ellomay Capital in the development and financing of Talasol solar electricity facility in Spain. The transaction is one of the first to use a tradeable derivative instrument to hedge the expected price of the electricity generated by a proposed solar facility located in Spain. The key lawyer in that deal was of counsel Phung Pham, who leads the London derivatives practice and advises financial institutions, corporates and state-owned entities on transactions across all asset classes. Also recommended are Simon Porter, who leads the structured capital markets practice and handles structured products work, and is also head of the corporate trust practice, and Chris Hogan, who works between the firm's London and Johannesburg offices.

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Emerging markets

Within: Emerging markets

Baker McKenzie's global presence gives its London practice access to in-depth local knowledge of emerging markets around the world, and brings its finance group into some of the most demanding and high-value deals in the market. More than half of the firm's offices are located in emerging markets, and its London office plays a key role in transactions in¬†Asia Pacific, Eastern Europe, the Middle East and Latin America on behalf of financial institutions, sponsors and borrowers. The firm's highlights from 2017 included advising¬†Bank of America Merrill Lynch International on a ‚ā¨799m and $411m dual-currency term loan for¬†Yapi ve Kredi Bankasi in Turkey. The practice also acted for a syndicate of 14 lenders including¬†Banca IMI, BNP Paribas, ING and¬†Scotiabank Europe in a ‚ā¨1.95bn loan as part of the ‚ā¨4.5bn financing of the acquisition of energy efficiency solution provider Ista International. Acquisition finance specialist¬†Lynn Rosell Rowley¬†led that deal. Experienced project finance partner¬†Calvin Walker¬†acted for¬†Bayerische Landesbank and Arab African International Bank in a $126m project financing for¬†Infinity 50 Renewable Energy, which is developing a¬†50MW solar photovoltaic power plant in Ben Ban, Egypt.¬†Marc F√®vre, who frequently¬†advises government authorities, developers, lenders and secondary market investors on all aspects of energy and infrastructure transactions, also played a key role in that deal. Other recommended partners include head of banking¬†Nick Tostivin,¬†who¬†focuses on syndicated lending transactions and acquisition finance;¬†leveraged acquisition and infrastructure financing partner¬†Ian Jack; structured capital markets partner¬†Simon Porter; head of the firm's¬†global nuclear energy practice¬†Neil Donoghue; and debt capital markets specialist¬†Adam Farlow.

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High yield

Within: High yield

Baker McKenzie¬†has an¬†integrated US and UK capital markets capability that enables it to advise on European high yield debt from London. Its extensive international network of offices enables it to also play a key role in emerging markets debt, which often uses English law with high yield covenants. Dual US- and UK-qualified¬†Adam Farlow¬†is the key partner and his practice encompasses new money issuance, restructuring and liability management. He frequently acts for both issuers and trustees. Farlow acted alongside¬†Roy Pearce,¬†who focuses on emerging markets issuances and is recommended for his work on English law Eurobonds with high yield style covenant packages, on the $2.2bn restructuring of client Metinvest, a Ukrainian and international mining and steel company, which included the replacement of high yield bonds with new debt offerings.¬†Simon Porter¬†is a key player on the trustee side and frequently handles bond restructurings. Porter and Farlow advised Deutsche Trustee Company on the restructuring of more than ‚ā¨4bn in outstanding bonds of Abengoa, which develops¬†¬†innovative technology solutions for sustainability in the infrastructure, energy and water sectors.

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Within: Securitisation

Baker McKenzie¬†has reshaped its securitisation practice following the departure of key partners¬†Jonathan Walsh, who¬†moved to¬†Ashurst, and Simon Schiff, who left the firm in 2018 to found his own structured finance consultancy.¬†Capital markets expert¬†Simon Porter¬†leads the practice and advises on debt, equity, equity-linked and structured products. He is head of the firm's corporate trust group and advises issuers and trustees, although he increasingly acts for arrangers in complex transactions.¬†Of counsel¬†Phung Pham, who leads the firm's derivatives practice, frequently advises on¬†hedging and rating agency requirements related to securitisations. Newly promoted partner¬†Jeremy Levy¬†acts for sponsors, originators, arrangers and trustees in securitisation and other structured finance transactions involving trade receivables, residential mortgages and auto loans.¬†The firm acted for¬†Bank of America Merrill Lynch as arranger and Bank of America Merrill Lynch, Barclays Bank plc and Santander Global Corporate Banking as joint lead managers in a ‚ā¨699m issuance of notes backed by¬†Finnish auto loans. The deal was led by Walsh before his departure, but¬†associate¬†Sarah Porter¬†played a key role. With Simon Porter, she handled high-profile defaults, including the ‚ā¨2.7bn Air Berlin default, for trustee BNP Paribas.

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Legal Developments by:
Baker McKenzie

  • The New Turkish Code of Obligations: Important Changes for Leases of Residential & Business Premises

    For decades, the primary Turkish laws governing leases of residential and business premises have been the Law on Leasing Real Property dated May 27, 1955 (the ‚ÄúLease Law‚ÄĚ) and the Turkish Code of Obligations No. 818 dated April 22, 1926 (the ‚ÄúObligations Code‚ÄĚ). Both of these laws, however, will be repealed and replaced with the new Turkish Code of Obligations No. 6098 dated January 11, 2011 (the ‚ÄúNew Obligations Code‚ÄĚ), which will enter into force on July 7, 2012.
    - Esin Attorney Partnership

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