Firms To Watch: Banking, finance and capital markets

GTG Advocates‘ team is led by Robert Tufigno and has a strong focus on banking regulatory and operational work, especially advising on the licensing of credit, e-money and financial institutions, exchange control and payment services, regulatory and AML compliance, syndicated finance transactions and debt restricting. It also has a growing DLT, blockchain and virtual currencies regulatory practice.

Banking, finance and capital markets in Malta

Camilleri Preziosi

Camilleri Preziosi has seen significant growth in handling new fund management mandates, AIFM set-ups and migrations, as well as advising fund managers on AIFM and MiFID compliance. Louis De Gabriele is a recognised leader in the capital markets space, and is assisted by Malcolm Falzon on equity and debt issuances. For financing transactions, Andrei Vella is highly experienced in asset-backed finance, syndicated lending and project finance, and in transactions relating to utilities. Newly appointed partner Andrew Caruana Scicluna is the main contact point for capital issuances by banks of CET1 and CET2 instruments.

Practice head(s):

Louis de Gabriele; Malcolm Falzon; Andrei Villa


Other key lawyers:

Andrew Caruana Scicluna


Testimonials

‘The team are very supportive and their services range from “leave it in our hands” to “let us explain the whole process for you” if asked to, tailoring the advice to what the client wants. The team is also good at following up with matters which makes the client comfortable that work streams are on the consultant’s radar.’

Ganado Advocates

One of the best-known banking practices in Malta, Ganado Advocates displays ‘great efficiency, responsiveness and clarity in terms of communication’ and regularly assists international banks with asset and project finance matters involving aspects of Maltese law. Practice head Conrad Portanier and insurance and regulatory expert Matthew Bianchi are amongst the key contacts. Leonard Bonello is the go-to adviser for fintech and blockchain-based projects. Nicholas Curmi leads the firm's highly regarded capital markets practice, assisting with structuring public offerings of debt, equity, hybrid and structured securities, and private placements.

Practice head(s):

Conrad Portanier; Matthew Bianchi; Leonard Bonello; Nicholas Curmi


Other key lawyers:

Beppe Digiorgio


Testimonials

‘The team roll-up their sleeves in a very welcoming fashion to assist and bring in various colleagues from other departments to advise on various areas of law. Response is very timely and insightful.’

‘Nicholas Curmi is a young and energetic partner with whom you can have an open and challenging conversation. His expertise has been crucial for our bond issuance, along with the assistance of members of his team, mostly Beppe Degiorgio.’

‘The team at Ganado Advocates are extremely knowledgeable and they display great efficiency, responsiveness and clarity in terms of communication and the ability to work to a proposed transaction timetable.’

‘The team at Ganado Advocates are personable, professional and approachable and are a pleasure to work with.’

‘The combination of commercial acumen and legal skills are second to none in the market. The Ganado team is also used to international transactions, and is thus capable of engaging on complex, cross-border capital markets transactions.’

‘Nick Curmi is extremely talented and has a deep understanding of the capital markets space that makes his advice and experience invaluable.’

‘Matthew Bianchi has exceptional knowledge, strong capability and top attention to detail.’

‘The firm is a leading legal firm in Malta reputed for its professionalism, technical expertise and practical insights into the financial services industry. It has diversified and holistic technical expertise across all levels of the team, with a flair for understanding different business models and practical adaptation to regulatory frameworks.’

Mamo TCV Advocates

Mamo TCV Advocates‘ corporate finance practice advises local and international credit institutions, asset management and investment firms, listed companies and private equity firms in respect of all finance matters, and in particular syndicated loan transactions. Refinancing loan facilities, debt securities listings, leveraged buyouts, sustainability-linked loans and financial compliance matters are its other key areas of work. Andrew Muscat and Michael Psaila head the group.

Practice head(s):

Andrew Muscat; Michael Psaila


Testimonials

‘Michael Psaila is very knowledgeable and good to deal with.’

‘The law firm’s strengths are that they are easily accessible and provide feedback within a reasonable period of time within a defined deadline – they provide guidance on a number of legal fields including guidance on recent judgments.’

‘Great communication and co-operation with their clients. Great service.’

Key clients

GO p.l.c.


BMIT Technologies p.l.c.


Trident Estates p.l.c.


Simonds Farsons Cisk p.l.c.


Hili Properties p.l.c.


Central Business Centres p.l.c.


St. Anthony Co. p.l.c.


Steward Healthcare


BNF Bank (Malta) plc


HSBC Bank Malta plc


FCM Bank Malta Limited


Work highlights


  • Advised Hili Properties p.l.c. as issuer on an IPO offering of 185,185,185 new ordinary shares at an issue price of €0.27 per share.
  • Advised Malta Properties Company p.l.c. on the establishment of a €50m bond issuance programme and the issuance of 4% secured bonds with an aggregate principal amount of €25m redeemable in 2032.
  • Acting as legal adviser to GO p.l.c. on the issuance of 3.5% unsecured bonds with an aggregate principal amount of up to €60m redeemable in 2031 pursuant to a prospectus and final terms dated 27 May 2021.

Deguara Farrugia Advocates

Deguara Farrugia Advocates is particularly recommended for advising start-ups due to its experience of assisting with the set up of financial service companies and e-money and payment institutions, fintech licensing and regulatory matters, as well as advising companies seeking listings on regulated markets and MTFs. Jean Farrugia and Johan Farrugia are the lead transactional and regulatory lawyers.

Practice head(s):

Jean Farrugia; Johan Farrugia


Testimonials

‘Deguara Farrugia Advocates invests time in understanding the client’s business requirements and providing the right guidance and solutions. They have a diverse team which enables them to provide support in a number of areas.’

‘We normally work with Jean Farrugia and Johan Farrugia. Jean is an expert in his field and provides hands-on support on all matters. Johan is the subject matter expert when it comes to bonds listing. Their expertise ensures that the client remains compliant with the applicable listing regulation.’

‘The team leaders make themselves available at all hours of the day. Teams are split depending on the area of specialisation, thus providing more in-depth knowledge.’

‘Knowledgeable, concise, pleasant, understanding, available.’

Key clients

VistaJet Malta Finance p.l.c.


Andaria Financial Services Limited


Quasar System SA


Koala Group


Agribank plc


APS Bank plc


Work highlights


  • Acting as legal adviser in relation to the co-issuance of $1bn senior notes by VistaJet Malta Finance plc and XO Management Holdings Inc.
  • Acted as the main legal adviser to Andaria Financial Services Limited, which is authorised by the Malta Financial Services Authority as an EMI, on a wide range of legal and regulatory matters.
  • Assisting in the launch of a fintech platform operated by the first-ever licensed VFA service provider in Malta.

Fenech & Fenech Advocates

Fenech & Fenech Advocates is active across the entire spectrum of financial services matters, and maintains a busy workload assisting clients with regulatory approval requirements for financial restructuring, fintech and other licensing applications. In the capital markets space, the firm advises on the listing and trading of Maltese securities, and exchanges outside Malta, often in the Nordic countries and in connection with entities involved in online gaming. Joseph Ghio and Rosanne Bonnici are the key contacts.

Practice head(s):

Joseph Ghio


Other key lawyers:

Rosanne Bonnici


GVZH Advocates

GVZH Advocates has strong capital markets capabilities and is recommended for prospective issuers seeking admission to listing in Malta. Kurt Hyzler is the main point of contact for financial services licensing projects, including collective investment scheme structures, and corporate and financing transactions. Luca Vella assists with the admission to listing of debt securities on the Official List of the Malta Stock Exchange and private placements. Managing partner Andrew Zammit is also noted.

Practice head(s):

Andrew Zammit; Kurt Hyzler; Luca Vella


Key clients

Betclic Everest Group


BNP Paribas – Hong Kong Branch


Work highlights


  • Represented Betclic Everest Group with respect to the perfection of security with regard to a €130m bridge loan financing that was entered into at the end of December 2021.
  • Advised BNP Paribas on securing its facility to the Alvogen Group by virtue of a pledge of shares in Alvogen Malta (Out-Licensing) Holding Limited C 87870.

WH Partners

WH Partners has a strong emphasis on capital markets and fintech and blockchain technology matters, particularly licensing, operation and regulatory issues. On the transactional side, it also advises on the sale and acquisition of individual non-performing loans, IPOs, debt restructuring and the full range of banking lending work. James Scicluna and Olga Finkel are the lead figures.

Practice head(s):

James Scicluna; Olga Finkel


Key clients

FalconX Limited


dLocal Group Limited


Hiro Capital LLP


Aspire Global plc


Everest Network Ltd


Moneybite


Work highlights


  • Assisted dLocal, a leading start-up cross-border payment platform provider and Latin America’s first unicorn, with its re-structuring ahead of its Nasdaq IPO.
  • Advising FalconX on the structuring of three venture capital financing rounds worth an aggregate investment of $261m, involving investors such as B Capital, Tiger Global, Sapphire, and Altimeter.
  • Assisted Hiro Capital, a Luxembourg/London technology venture capital fund, on its subscription and financing of a convertible loan note issued by FRVR and assisted in respect of its investment and subscription for equity in FRVR.

Zammit Pace Advocates

Zammit Pace Advocates is instructed on cross-border financing and capital market transactions in the energy and infrastructure sectors, including bond issuances, and listings on the Malta Stock Exchange. Managing partner Roderick Zammit Pace frequently supports overseas clients in connection with the structuring of AIFs and Maltese secured lending transactions.

Practice head(s):

Roderick Zammit Pace