Capital markets in Jersey

Bedell Cristin

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.

Practice head(s):

Alasdair Hunter

Testimonials

‘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.’

Key clients

Netflix Inc

First Quantum Minerals Ltd

Faro Energy Limited

Morgan Stanley

JP Morgan Securities

Cineworld Group plc

Bank of America Merrill Lynch

Red Ventures Limited

Lloyds Bank plc

Commerzbank AG

Barclays Bank Plc

Work highlights

  • 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

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.

Practice head(s):

Simon Marks

Testimonials

‘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.’

Key clients

Consortium of lenders to Domestic & General

J.P. Morgan Securities

SandpiperCI Group

Work highlights

  • 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.

Mourant

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.

Practice head(s):

Gareth Rigby

Testimonials

‘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.’

Key clients

3i Infrastructure plc

Provident Financial plc

Serinus Energy plc

Wisdom Tree

Informa plc

Morgan Stanley

Breedon Group plc

Shire Plc

Land Securities Plc

Ardian

London Stock Exchange Group Plc

Credit Suisse

JPMorgan

Merrill Lynch International

Serinus Energy plc

Wells Fargo Bank N.A.

Work highlights

  • 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

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.

Practice head(s):

Simon Felton

Testimonials

‘Excellent combination of technical and commercial insights.’

‘Raulin Amy is a star adviser who is extremely responsive, a team player and very modest.’

Key clients

Wren House Infrastructure Limited

Glencore plc

Angel Trains

MJ Hudson

Workspace Group plc

Centamin plc

Wizz Air Holdings

Barrick Gold (formerly Randgold Resources)

Heathrow Funding

Ackros Acquisition Limited

Seven Energy International Limited

Intu Properties plc

IDB Trust Services

Islamic Development Bank

Kaisa Group Holdings Limited

Work highlights

  • 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.

Appleby

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.

Practice head(s):

James Gaudin

Other key lawyers:

Andrew Weaver

Key clients

Tritax Big Box REIT plc

Petropavlovsk plc

Mauser Packaging Solutions Holding Company

Work highlights

  • 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.

Maples Group

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.

Practice head(s):

Chris Byrne

Testimonials

‘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.’

WALKERS

At WALKERSNigel Weston and senior counsel (and head of the listings practice) Christophe Kalinauckas handle a range of listing work, covering all manner of debt instruments.

Practice head(s):

Nigel Weston