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CMS

2 RUE ANCELLE, 92522 NEUILLY-SUR-SEINE, FRANCE
Tel:
Work +33 1 47 38 55 00
Email:
Web:
www.cms.law/fl
Aberdeen, Algiers, Amsterdam, Antwerp, Barcelona, Beijing and 70 more

Marc-Etienne Sébire

Tel:
Work +33 1 47 38 55 00
Email:
CMS

Work Department

Capital Markets

Position

Partner, Head of Capital Markets: Debt Capital Markets (plain-vanilla and structured bonds. European private placements, EMTN programmes, hybrid instruments, covered bonds, high yield, commercial paper and liability management transactions), Equity Capital Markets (IPO, convertible and exchangeable bonds) and Structured Derivatives.

Career

Avocat (France) and Solicitor (England & Wales). Before joining CMS Francis Lefebvre Avocats (2011), Marc-Etienne practiced capital markets for more than 12 years with Gide Loyrette Nouel (Paris and London) and Simpson Thacher & Bartlett (New York).

Languages

French, English

Education

Master's degree in Business Law (University of Caen, 1996); DESS [postgraduate specialised degree] in the Law and Economics of Banking and Financial Markets (Caen, 1997). Avocat (1999) and Solicitor, England and Wales (2007).


France

Capital markets: debt capital markets

Within: Leading individuals

Marc-Etienne SĂ©bire - CMS

Within: Capital markets: debt capital markets

The 'very professional team' at CMS is noted for its 'excellent legal skills', 'responsiveness' and 'business approach'. 'Instead of focusing on problems, the group always looks for pragmatic solutions' and 'is very good in negotiations'. EMTN programmes, euro private placements, covered bonds and liability management transactions account for a significant portion of the caseload, with bonds issued by public entities providing another significant source of mandates. Practice head Marc-Etienne Sébire advised Klépierre on a tender offer to purchase four bonds series for cash, two under French and two under Dutch law, as well as on the issue of €500m new bonds offering a 1.625% coupon due 2023 under its €7bn EMTN programme. Advice on French law-covered bonds from French Sociétés de Financement de l'Habitat form also part of the recent caseload. Other work came from Natixis, Crédit Agricole Corporate and Investment Bank and Caisse des dépôts et consignations, the French public sector financial institution.

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Derivatives and structured finance

Within: Derivatives and structured finance

CMS fields a 'very proactive, approachable and client-oriented' team noted for its 'no-nonsense approach and the willingness to take the initiative'. Cross-border transactions account for a significant part of the caseload, but the team is also strong domestically. Recent highlights focused on securitisation and French debt funds, as well as on covered bonds and trade receivables. Grégory Benteux, head of the securitisation and structured finance practice, and Marc-Etienne Sébire, head of the capital markets group, 'are both commercial, fully involved and easy to work with'. Benteux advised Société Générale Securities Services on creating a new securitisation fund, acquiring receivables arising from the purchase and financing of vehicles and spare parts by designated German retail motor vehicle dealers. The team also assisted BNP Paribas and Banque Fédérative du Crédit Mutuel with covered bonds issued as part of euro medium-term note (EMTN) programmes. My Money Bank, HSBC and BPCE are also clients.

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Legal Developments by:
CMS

  • Access to justice: protective costs orders in planning challenges

    Third parties and competing developers have no rights of appeal to the Secretary of State against planning decisions. Disappointed applicants can appeal to the Secretary of State and can have the merits of the application reconsidered. The only remedy available to a disappointed third party is a challenge by way of judicial review in the High Court on a point of law. The sense of frustration and disempowerment this creates has not been helped by the increasing complexity of the planning process and the use of consultation to legitimise decisions that many perceive may already have been taken.
    - CMS Group

Legal Developments in France

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  • ACQUISITIONS IN CHINA : ASSET OR SHARE DEAL?

    The opportunities offered to foreign investors by the Chinese mergers and acquisitions market are increasing every year: in 2010, transactions involving foreign companies came to 60.1 billion euros, an increase of 21.2% compared with 2009. Seen from the West, where markets are declining, all sectors of the Chinese economy seem to be undergoing promising development and the statistics indicate that the Middle Empire will be a lasting springboard for growth.
  • Prime de Partage des Profits

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  • Landmark decision by French Competition Authority in conditioned LPG case

    cartel case closed after discovery that leniency application was largely based on forgeries and rejection of collective dominant position objection.
  • 2012 supplementary budget

    The second supplementary budget published in the Official Gazette September 19, 2011 provides for two key measures that affect the deferral of tax losses and taxation of capital gains realized on the sale of equity securities .
  • ActualitĂ© lĂ©gislative fiscale

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  • RĂ©forme fiscale

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