At Bedell Cristin's 'responsive, adaptable and tenacious' capital markets practice, Alasdair Hunter handles debt issuance work on TISE for clients in sectors ranging from entertainment to natural resources, and is also active in the CMBS space and other securitisation transactions concerning revenue streams from energy to credit card and trade receivables. Sara Johns joined the practice from Ogier in September 2019 and Richard Le Liard is a 2019 partner promotion. Clients also praise senior associate Louise Ridgway.
Capital markets in Jersey
‘Combination of a sophisticated knowledge and expertise with complex financings and securitisation with high-end technical legal knowledge, a commercial sensibility and top quality execution.’
‘Alasdair Hunter is a star. He has worked in the Magic Circle on mega-transactions and he has the knowledge, experience and expertise. He speaks our language.’
First Quantum Minerals Ltd
Faro Energy Limited
JP Morgan Securities
Cineworld Group plc
Bank of America Merrill Lynch
Red Ventures Limited
Lloyds Bank plc
Barclays Bank Plc
- Advised Netflix on the listing aspects of two multi-billion Reverse Yankee bond transactions.
- Advised Faro Energy on the first-ever green bond to be listed on TISE.
- Advised the special servicer on a proposed restructuring of propcos on the security package for a £450m CMBS transaction.
Carey Olsen handles a diverse range of work in this space, and is particularly active on TISE listings. Simon Marks and Kate Andrews handle work primarily focusing on high-yield debt, but also including investment funds, securitisations and cash boxes-listed local exchange, often working with counsel Matthew Ecobichon. James Willmott's corporate practice includes IPO work involving local and London exchanges.
‘The Carey Olsen team I have worked with are very proactive in reaching out to us when they feel Jersey input is needed on a deal. They are responsive and always happy to jump on a call to help sort out an issue.’
‘The Carey Olsen capital markets attorneys are outstanding. The partners and associates are very practical, commercial and know the transaction process. Furthermore, their team is accessible at all times and incredibly responsive.’
‘Simon Marks, Kate Andrews, Matthew Ecobichon are my go-to contacts because they appreciate the significance of our matters and the time sensitivities of our requests. They are extremely knowledgeable when it comes to both the nuances of complex cross-border capital markets transactions, as well as Jersey law and TISE listing requirements. They are approachable, responsive, commercial and extremely knowledgeable. For these reasons, there is no other team I would rather have on my transactions. Simply put, they are outstanding.’
Consortium of lenders to Domestic & General
J.P. Morgan Securities
- Acted for three major lenders and the initial purchasers on £750m of bonds and notes issued in connection with the re-financing and sale of the Domestic & General Group.
- Advised J.P. Morgan in relation to circa £250 million limited recourse structured collateralised financing arrangements with a Jersey borrower.
- Advised Channel Islands retailer SandpiperCI Group Limited on its successful listing on TISE, with an opening market capitalisation of £75 million.
At Mourant's 'dependable and responsive' capital markets practice, Robert Hickling handles heavyweight debt issuances by island entities, Eurobonds, the launch of exchange-traded funds and securitisations. Paul Martin also handles high-yield work, and group partner Jon Woolrich, on top of his practice in other areas, heads the firm's listing arm and is particularly active in listing REITs on TISE. Capital markets specialist Amy Demetriou was elected to the partnership in February 2020. Gareth Rigby heads the firm's broader corporate and finance team.
‘One of the great things about working with Mourant is the seamless integration between their Capital Markets Legal team and Governance Services team. They are extremely responsive, efficient and deliver quality work product.’
‘They proved to be dependable and responsive (in the transactions I worked with them) and were easy to get along with. They would respond within the requested deadlines, even when these were quite tight. They were pro-active in trying to resolve certain jurisdiction-specific issues.’
‘I really enjoy working with Amy Demetriou. She always incredibly responsive and willing and able to work to our challenging deadlines. She is organized, efficient and has a wonderfully positive attitude which makes her a pleasure to work with.’
3i Infrastructure plc
Provident Financial plc
Serinus Energy plc
Breedon Group plc
Land Securities Plc
London Stock Exchange Group Plc
Merrill Lynch International
Serinus Energy plc
Wells Fargo Bank N.A.
- Advised The Royal Bank of Scotland International Limited in connection with the establishment of a €3bn STEP -compliant Euro-Commercial Paper programme for itself.
- Advised Experian plc in connection with the issuance by Experian Finance plc of its $1.25bn of senior notes.
Ogier's capital markets practice has a core focus on high-yield debt. Bruce MacNeil handles the Jersey law elements of high-yield bond issuance for purposes include private equity deals. Simon Felton and Richard Daggett are also active on TISE, handling work including the listing of funds and debt. Clients also praise Raulin Amy. The aforementioned are also supported by managing associate Alexander Curry and counsel Chula O’Donoghue, who returned from a secondment in-house at HSBC in September 2020.
‘Excellent combination of technical and commercial insights.’
‘Raulin Amy is a star adviser who is extremely responsive, a team player and very modest.’
Wren House Infrastructure Limited
Workspace Group plc
Wizz Air Holdings
Barrick Gold (formerly Randgold Resources)
Ackros Acquisition Limited
Seven Energy International Limited
Intu Properties plc
IDB Trust Services
Islamic Development Bank
Kaisa Group Holdings Limited
- Advised a health care group on the Jersey aspects of a $1bn restructuring across its high-yield bonds and trading portfolio.
- Advised Goldman Sachs and Barclays as initial purchaers of £440m notes issued by TVL Finance plc, an affiliate of Travelodge.
- Advised a private equity firm on its participation in the recapitalisation of American Express Global Business Travel.
At Appleby, Andrew Weaver's recent activity has included capital markets work in the investment funds industry, as well as debt issuances overseas. James Gaudin, now the firm's Jersey managing partner, also handles high-yield work, including some of TISE's most prestigious listings, as well as securitsation.
Other key lawyers:
Tritax Big Box REIT plc
Mauser Packaging Solutions Holding Company
- Advised Petropavlovsk plc on the issuance of $125m guaranteed convertible bonds and the amendment of $100m of existing ones.
- Advised JPMorgan on Aston Martin’s $250m note issuance.
At Maples Group, Chris Byrne and Paul Burton have been active in new securitisations (ranging from CLO structures through to car finance), high-yield and listed funds appearing on TISE; on the same exchange in the Islamic finance space, Simon Hopwood has handled some Sukuk listings. Stephanie Edge is a key associate.
‘The team is able to pivot between complex DCM and ECM transactions. It’s a partner led team with significant background experience. Strength with technical listings on The International Stock Exchange (TISE).’
‘We work with Chris Byrne and his associate, Stephanie Edge, on the majority of our debt listings. They are both responsive and knowledgeable of the debt listing requirements and processes. Both individuals are highly personable and a pleasure to work with.’