Capital markets in Jersey

Carey Olsen Jersey LLP

At Carey Olsen, Simon Marks and Kate Andrews  - 'two of the best practitioners in Jersey' - handle high-yield and other debt capital markets transactions, as well as securitisation matters - some of which involve acting for heavyweight private equity houses. Guy Coltman handles the Jersey elements of London IPOs, while Christopher Griffin has blockchain expertise, including ICOs.

Practice head(s):

Simon Marks

Testimonials

Carey Olsen’s capital markets team is outstanding: the team brings a wealth of experience and knowledge to the table, setting itself apart from peer firms. It seamlessly assists with everything from structuring and entity formation to securities listings.’

An accessible and personable group of industry and jurisdictional specialists.’

Simon Marks and Kate Andrews are experts in the field and assist high-profile clients on multiple occasions. They stand out from other lawyers due to their ability to promptly resolve challenging issues with exceptional results.

Work highlights

  • Advised JTC, which is headquartered in Jersey, on its IPO on the main market of the London Stock Exchange.
  • Working with Philean Trust Company, advised GNY.io on the regulatory aspects of its ICO, the first under the JFSC’s ICO guidelines.

Mourant

Mourant handles a mix of work, primarily in debt capital markets, frequently picking up roles as intermediaries to elite onshore firms. Paul Martin and Robert Hickling handle debt issuances, as does Jon Woolrich, whose work includes challenging cross-border mandates - Hickling also has structured finance expertise. James Hill has expertise in the use of Jersey cash box structures. Counsel Amy Demetriou works with Hickling on key deals.

Practice head(s):

Gareth Rigby

Other key lawyers:

Paul Martin; Rob Hickling; Jon Woolrich; James Hill; Amy Demetriou

Key clients

3i Infrastructure plc

Informa plc

Shire Plc

Land Securities Plc

Ardian

London Stock Exchange Group Plc

Credit Suisse

JPMorgan

Goldman Sachs

Wells Fargo Bank N.A.

Work highlights

  • Advised Yellow Cake plc, a Jersey-based uranium trading business, on the Jersey elements of its IPO on AIM.
  • Advised Chamoss International on a listing of NIS1.48bn of secured notes on the Cayman Island Stock Exchange to finance the purchase of a number of car showrooms.
  • Advised Informa on its launch of a new euro medium-term note programme, and the issuance of €650m and £300m of notes under it, to finance its acquisition of UBM.
  • Advised Serinus Energy on its redomiciliation from Alberta to Jersey, and a placing of new shares to be listed on AIM.
  • Advised Stonecutter Investments on the private placement and listing of equity securities on The International Stock Exchange in connection with its purchase of Goldman Sachs’ new London headquarters.

Ogier

Ogier handles work for a range of issuers in the space, often acting through well-known referrers. Raulin Amy handles work for leading corporates on their Eurobond issuances. Simon Felton  has a track record of work for issuers worldwide; Bruce MacNeil also handles high-yield listings on TISE, and his practice includes some sukuk structures.

Practice head(s):

Simon Felton

Other key lawyers:

Raulin Amy; Bruce MacNeil

Key clients

Wren House Infrastructure Limited

Glencore plc

Angel Trains

Workspace Group plc

Wizz Air Holdings

Randgold Resources

Credit Suisse

Intu Properties plc

Islamic Development Bank

Work highlights

  • Advised Tullow Oil on the Jersey elements of its $800m offering of 7% senior notes due 2025, with Jersey companies acting as a guarantor.
  • Adviced Galaxy Bidco, a subsidiary of Domestic & General, on extending the maturity of existing senior secured notes via exchange offer.
  • Advised VI Mining on its admission to trading on the NEX Exchange Growth Market.
  • Advised BrightHouse Group on a consent solicitation to exchange existing notes for TISE-listed debt issued by a new vehicle and shares in the company.
  • Advised  a Jersey issuer company on issuing €350m of senior notes, and its listing on TISE.

Appleby

The practice at Appleby, which is led by structured finance head James Gaudin and Andrew Weaver, handles the Jersey elements of structured finance deals, and bond and paper offerings. Securitisation is another area of expertise. The firm acts for investment funds and well-known banks, among others.

Practice head(s):

James Gaudin; Andrew Weaver

Testimonials

Andrew Weaver and his team are professional, thorough, and provide input very promptly.

Key clients

Atrium European Real Estate Limited

Deutsche Bank AG

Mauser Packaging Solutions Holding Company

Work highlights

  • Advised Deutsche Bank on Intertrust’s €500m bond offering.
  • Advised Mauser Packaging Solutions on issuing €475m of senior first lien notes listed on TISE.
  • Advised three issuer companies of Novo Banco on consent solicitations, redeeming notes totalling €606m.
  • Advised Merrill Lynch International on a put option finance between the bank and Reinet Investments, in relation to shares in British American Tobacco.

Bedell Cristin

Large corporate debt listings on TISE are a key source of work for Bedell Cristin, with the firm acting for a number of high-profile clients in this space. Other work includes securitisation and public M&A. Alasdair Hunter, who 'offers practical solutions and prompt responses' leads on many of the practice's key deals, while Louise Ridgway is a key associate. Former senior associate Mark Nisbet left in late 2018 for an in-house role at Icecap.

Practice head(s):

Alasdair Hunter

Other key lawyers:

Alasdair Hunter; Louise Ridgway

Key clients

First Quantum Minerals Ltd

Netflix Inc

Cineworld Group plc

FCE Bank Plc

DZ Bank

Mriya Farming plc

Lloyds Bank plc

Commerzbank AG

Morgan Stanley

Work highlights

  • Advised First Quantum Minerals on a $1bn debt listing on TISE.
  • Advised Netflix on issuing €1.1bn of senior notes on TISE.
  • Advised Cineworld Group on listing two classes of notes, totalling $3.6bn, on the official list of TISE.
  • Advised Dana Gas on the Jersey elements of its the restructuring of its $850m sukuk; the original offering spawned litigation in the UK, the British Virgin Islands, Sharjah and the Dubai International Financial Centre following suggestions on the part of the issuer that the structure was not shari’ah compliant and void under UAE law.

Maples Group

As part of Maples Group's new office in Jersey, Paul Burton brings with him a track record of handling bond restructuring, high-yield issuance and securitisation. Managing partner Chris Byrne is also active in this space.

Practice head(s):

Chris Byrne

Other key lawyers:

Paul Burton

WALKERS

WALKERS' Alexandra Corner and Nigel Weston handle debt listings on TISE, and in particular have a track record of working for Chinese clients in this space. Corner has also handled preference share issuances.

Practice head(s):

Alexandra Corner

Other key lawyers:

Nigel Weston

Work highlights

  • Advised Endeavour Mining on a $330m issuance of convertible senior notes listed on TISE.
  • Advised Collins Aerospace on the issuance of $335m of unsecured loan notes.
  • Advised Matalan Finance on a £350m listing on TISE.
  • Advised PVH Corp, which owns brands including Tommy Hilfiger and Calvin Klein, on listing €600m of senior secured notes on TISE.
  • Advised China Properties Group on its listing of $226m of senior secured notes through a BVI-incorporated issuer.