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Latham & Watkins LLP

J David Stewart

Tel:
Work +7 495 644 1927
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Web:
www.lw.com/people/j-david-stewart
Latham & Watkins LLP

Work Department

Partner

Position

Partner

Career

David Stewart is a partner in the Moscow office of Latham & Watkins. Mr. Stewart advises on a broad range of debt and equity capital markets, mergers and acquisitions and public company/advisory matters with a primary focus on businesses and industries operating in the emerging markets. Mr. Stewart splits his time between the firm’s London and Moscow offices enabling him to efficiently work with a number of jurisdictions, including Russia/CIS, CEE, MENA and Sub-Saharan Africa.

Mr. Stewart is consistently recognized as a leading US-qualified securities lawyer, in particular, in Russia/CIS, and he has acted on over 150 capital markets transactions involving securities that were listed in New York, London,Geneva, Moscow, Dubai, Canada, Ireland, Luxembourg, Frankfurt, Cairo, Hong Kong, Singapore and other major financial centers. Additionally, Mr. Stewart has advised on dozens of M&A matters with a particular focus on public M&A and the energy sector.


London: Finance

Debt capital markets

Within: Leading individuals

David Stewart - Latham & Watkins

Within: Debt capital markets

Latham & Watkins has a team of 'practical, commercial and hands-on problem solvers' and its US capital markets practice is one of the largest in London. Its emerging markets workload includes representation of both issuers and investment banks on landmark and multi-jurisdictional debt offerings in Central and Eastern Europe, the Middle East and Africa. The practice advised initial purchasers including Citigroup and Goldman Sachs on the $500m debut issuance by Turkish petrochemicals company Petkim Petrokimya. Sovereign deals are another key feature of the practice and a highlight was the firm's work for joint bookrunners on a $3bn notes offering by the government of Ukraine, which was listed on the Irish Stock Exchange. Both deals were led by key partners  Lene Malthasen and David Stewart, who is primarily based in Moscow but spends a significant amount of time in the London office. Malthasen is developing the firm's English and European debt practice, as well as playing a leading role in emerging markets work, and she has extensive experience in liability management transactions. The London practice is also active in the US private placements market, and Malthasen represented TWINSET on a €170m notes issue. Counsel James Baxter also played a key role in that transaction.

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Emerging markets

Within: Emerging markets

Latham & Watkins  is a leading player in debt capital markets transactions involving emerging markets. The practice has extensive experience in Russia and the CEE region, as well as other key jurisdictions. Debt specialist Lene Malthasen is a key partner in the group, and frequently advises on Rule 144a issuances and liability management transactions in Russia, the CIS, the Middle East, Southern Europe and Asia. Last year, she advised the joint bookrunners on a $3bn notes offering and tender offer by the Government of Ukraine. The firm has worked closely with JPMorgan on all bond issuances out of Ukraine since 2016. David Stewart, who works between the London and Moscow offices, focuses on the broader CEMEA region, bringing his knowledge of US securities law to bear on debut bond offerings and liability management transactions. Malthasen and Stewart worked together to assist JPMorgan and Citigroup with an offering of loan participation notes to fund a loan to the State Export-Import Bank of Ukraine. Also recommended are counsels Ed Kempson and James Baxter for transactions in Russia and the CIS region; and project development and finance partner John Balsdon, who frequently handles oil and gas projects in emerging markets.

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Russia

Capital markets

Within: Capital markets

Clients value Latham & Watkins LLP’s ‘combined knowledge of Russian, English and US legal legislation and market practices’ and their ‘ability to handle domestic and multi-jurisdictional transactions with great expertise from the Moscow office’. The firm has strong capabilities in debt and equity capital markets and in recent work advised RusHydro on its issuance of $360m 7.4% LPNs due 2021. Other highlights include assisting Obuv Rossii with its IPO listed on the Moscow Stock Exchange. ‘Well-known figure’ David Stewart has significant experience advising issuers, underwriters and financial advisers on securities offerings, IPOs and global depository receipts (GDRs), and Mikhail Turetsky has a strong track record of advising on eurobonds and other securities transactions by CIS issuers.

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