Capital markets in Guernsey

Carey Olsen

At Carey Olsen, recent highlights included the capital markets team providing Guernsey advice on a rare fund IPO on the London Stock Exchange, as well as handling numerous cash box structures for issuers in the technology sector. Practice head Ben Morgan, Annette Alexander and David Crosland take the lead on offerings of debt securities on international exchanges and TISE. Also notable is that longstanding clients frequently engage the team on secondary share issuances and recapitalisations. In addition, the firm is a dominant listing agent for high-yield listings.

Practice head(s):

Ben Morgan

Other key lawyers:

Annette Alexander; David Crosland

Testimonials

‘Excellent technical lawyers, responsive, commercial.’

‘I primarily work with Ben Morgan. He is very knowledgeable and also commercial.’

Key clients

Amdocs Limited

VinaCapital Investment Management Ltd.

Round Hill Music Royalty Fund Limited

Stobart Group Limited

JPMorgan Global Core Real Assets Limited

Landscape Acquisition Holdings Limited

Kape Technologies plc

Brockton Capital

Ravenscroft Holdings Limited

Work highlights

  • Advised Round Hill Music Royalty Fund Limited on its successful listing on the Specialist Fund Segment of the Main Market of the London Stock Exchange, opening up British and US musical heritage to investors.
  • Advised Amdocs Limited on the offering of debt securities issued to the value of $650m.
  • Assisting Brockton, a UK real estate investment company with the admission to listing of ordinary shares on the Official List of TISE.

Mourant

Mourant takes the lead on a high volume of TISE listings, with it recently acting for issuers in the telecoms, transport and infrastructure sectors. Darren Bacon advised numerous SPACs on the TISE issuances of fixed-rate unsecured loan notes. Frances Watson is noted for assisting FTSE-listed debt funds clients with high-value share issuances and scrip dividend programmes. Senior associate Pui Yee Lai applies her expertise across a wide ambit of capital markets mandates.

Practice head(s):

Helen Wyatt

Other key lawyers:

Darren Bacon; Frances Watson; Pui Yee Lai

Key clients

3i Infrastructure plc

Baker Steel Resources Trust Limited

Big deal music

BMO Property Growth & Income Feeder Fund Limited

CD&R Arawak X Luxco S.à. r.l.

Chenavari Capital Solutions Limited

Chenavari Toro Income Fund Limited

DP Aircraft I Limited

Earl Street Investments Ltd

Elm Bidco, L.P.

Funding Circle SME Income Fund Limited

Gemfields Group Limited

Growthpoint Properties Limited

Guaranteed Investment Products 1 PCC Limited

Harbourvest Global Private Equity Limited

Investec W&I International PCC Limited

J2 Capital Partners Limited

John Laing Environmental Assets Group Limited

LondonMetric Property Plc

Lloyds Bank International

NextEnergy Solar Fund Limited

Ravenscroft Investment Fund Offshore

Resolute Mining Limited

Sequoia Economic Infrastructure Income Fund

Telecom Credit Infrastructure DAC

Telecom Credit Infrastructure Designated Activity Company

Viva 2 DAC

Viva 3 DAC

Viva 4 DAC

Volta Finance Limited

Weiss Korea Opportunity Fund Limited

Work highlights

  • Assisting Telecom Credit Infrastructure Designated Activity Company with its listing of £1bn fixed-rate notes on TISE.
  • Acted as Guernsey legal counsel Sequoia Economic Infrastructure Income Fund Limited on a share issuance programme (by way of open offer planning and offer for subscription) which was over-subscribed and raised £300m of gross proceeds.
  • Acted for Big Deal Music in relation to the sale of interests in the company to a Guernsey collective investment scheme called Hipgnosis Songs Fund Limited that focusses on the acquisition of song rights.

Ogier

Ogier’s team recently acted for clients on launches of listed funds, debt securities offerings on TISE (of which the firm maintains a sizeable foothold across the Channel Islands) and several REIT listings. The bench includes noted funds expert Craig Cordle, senior associate Charlotte Brown and Bryon Rees, who collectively advised on a complex dual AIM and NYSE listing for a company in the legal finance sector. Other work included high-value share placements for music royalties and renewable energy clients, on which managing associate Michelle Watson Bunn assisted.

Practice head(s):

Byron Rees; Craig Cordle

Other key lawyers:

Charlotte Brown; Michelle Watson Bunn

Testimonials

‘They are engaging and are always on hand when needed. They adhere to timetables (even when tight) and always provide us with a good level of service.’

‘Charlotte Brown is very helpful in delivering concise and clear advice.’

‘Good service from Bryon Rees and Charlotte Brown on our Guernsey fund-related matters. Advice is clear and delivered on time when required.’

‘Bryon Rees and Charlotte Brown both provide good service to our clients and have good responsiveness and are proactive on documents compared to some other on island firms.’

‘Bryon Rees stands out for being responsive, practical and calm.’

Key clients

Hipgnosis

Burford

Foresight

Greencoat

Next Energy

Fernando JSN plc/Fernando SSN plc

EFG

Resonance

Morgan Stanley

Tetragon

Work highlights

  • Advising Hipgnosis on a placing of ordinary shares under the company’s placing programme to raise up to £250m.
  • Advised Burford Capital Limited on its dual listing on the New York Stock Exchange, becoming the first legal finance firm to be publicly traded in the United States and the first UK/US dual-listed company in the legal finance industry.
  • Advising on Foresight Group Holdings’ application to list on the Main Market of the London Stock Exchange.