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Hogan Lovells International LLP

Living Wage
ATLANTIC HOUSE, HOLBORN VIADUCT, LONDON, EC1A 2FG, ENGLAND
Tel:
Work 020 7296 2000
Fax:
Fax 020 7296 2001
DX:
57 LONDON CHANCERY LANE WC2
Email:
Web:
www.hoganlovells.com

Alex Kay

Tel:
Work +44 20 7296 2000
Email:
Hogan Lovells US LLP

Work Department

Finance

Position

Alex is a partner based in London, and part of the business restructuring and insolvency team.

He typically represents buy side investors and bondholder committees in complex cross border restructurings assisting his clients in all aspects of a transaction from initial contingency planning and investment analysis to implementation and management of complex work outs.

Alex has particular experience of assisting creditors in challenging jurisdictions with a focus on emerging markets often using market first restructuring tools to reach a solvent solution. His work encompasses using a range of insolvency and reorganisation tools and processes including schemes of arrangement, pre-packaged administrations, Chapter 11 processes and a number of other European reorganisation tools to achieve his clients' goals. Alex has also acted for investors on a number of complex direct lending financing transactions often using complex and bespoke debt instruments and Intercreditor structures.


London: Finance

Corporate restructuring and insolvency

Within: Corporate restructuring and insolvency

Traditionally best-known for its work on behalf of banking clients, including Lloyds and Standard Chartered Bank,¬†Hogan Lovells International LLP¬†'s six-partner team has effectively diversified its client base to include a raft of hedge funds and private equity firms (including DuPont Capital and CarVal Investors) that are increasingly prominent in the market. Benefiting from significant strength-in-depth from the firm's London office and also able to leverage experts from the firm's international network of offices, the team provides 'creative and commercial advice' and is noted for its ability to 'control multi-agenda stakeholders with terrific subject matter knowledge'. The 'savvy, hardworking and commercial'¬†Tom Astle¬† has been central to diversifying the firm's client base to include an increased number of funds and this can be underscored by the prominent role the firm has in the high-profile Agrokor restructuring on behalf of an ad-hoc committee of holders of $900m of Agrokor debt. Notably, as part of this mandate the firm designed and implemented a novel ‚ā¨1.06bn DIP funding into that process. The 'excellent'¬†Alex Kay¬†is also heavily involved in the Agrokor matter and in addition to this high-profile matter is also involved in several other matters on behalf of distressed buy side investors and bondholder committees in complex cross-border restructurings, including his representation of the ad hoc committee of holders of senior notes in relation to the restructuring of Ukraine-based farming conglomerate, the Mriya Group. Particularly active on the bank side,¬†Stephen Foster¬†is recognised by one client as 'one of the best restructuring lawyers in London' and is a key member of the team that also includes the 'fantastic'¬†Paul McLoughlin,¬†Joe Bannister,¬†Deborah Gregory¬†and 'smart and unflappable' newly promoted counsel¬†James Maltby¬†.

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Emerging markets

Within: Emerging markets

Hogan Lovells International LLP¬†has a full-service emerging markets offering that draws on its¬†finance, corporate, energy, projects and capital markets practices. Its extensive client relationships span Asia, India, Africa, Russia, South America and Eastern Europe. The firm frequently acts for multilateral organisations such as Afreximbank, International Finance Corporation, and the European Bank for Reconstruction and Development, as well as handling¬†export credit-backed projects for¬†commercial banks, project companies, sponsors and developers. A key highlight from last year was the ‚ā¨1.06bn loan to Croatian food retail business Agrokor.¬†Tom Astle, who focuses on multi-jurisdictional corporate restructurings on behalf of creditors, acted for an ad hoc committee of bondholders in that deal.¬†DCM partner and practice head¬†Andrew Carey¬†is a leading light in the market and also played a key role in that deal. He also acted for Banco do Brasil in its $1bn bond offering under its EMTN programme. Export finance partners¬†¬†David Leggott, who handled a $600m pre-export finance loan to KAZ Minerals on behalf of Deutsche Bank,¬†and¬†Andrew Taylor¬†are leaders in their field. Project finance and infrastructure expert¬†Adrian Walker¬†and oil, gas and LNG projects specialist Richard Tyler¬†are also key partners in the practice.¬†Newly promoted partner¬†Alex Kay, who advised a committee of noteholders on the restructuring of Ukrainian company Mriya Agro Holding, is also recommended.

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High yield

Within: High yield

Hogan Lovells International LLP¬†is active for both issuers and banks on complex high yield bond offerings, restructurings and liability management. It counts among its¬†key clients¬†Barclays, HSBC, BNP Paribas and Swissport. It has particular expertise in the¬†automotive and aviation sectors, but its flow of work encompasses a wide range of industries. For air cargo handler Swissport and HNA Group, which owns China's fourth-largest airline, the firm handled combined issuance of ‚ā¨690m in high yield notes and an exchange offer for existing debt. In a ‚ā¨1.06bn secured refinancing package for distressed Croatian retail giant¬†Agrokor, the practice acted for an ad hoc committee of bondholders in the restructuring of its high yield debt. Another key restructuring deal saw the firm advise noteholders of Ukrainian farming conglomerate Mriya, which is currently in liquidation. Its work for initial purchasers included advising Barclays, Bank of America Merrill Lynch, HSBC, BNP Paribas and other banks on Rexel's combined issuance of $1.45bn in new notes. Practice head¬†Sylvain Dhennin¬†was the key partner on all of those deals. Partner¬†Alex Kay¬†is also recommended.

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