Debt Capital Markets

Simmons & Simmons’ debt capital markets team has extensive experience advising financial institutions and corporates on international securities transactions.

Expertise

Simmons & Simmons’ debt capital markets team advises issuers, investment banks and institutional investors on a wide range of financings including:

  • convertible and exchangeable bonds
  • ECP programmes
  • EMTN programmes
  • Islamic financing (including Sukuk) 
  • liability management and bond restructurings 
  • regulatory capital and corporate hybrids
  • straight debt 

Experience

Convertible and Exchangeable Bonds
  • advising the bookrunners on Swiss Re’s US$500m issue of Equity-Neutral Exchangeable Bonds with issuer stock settlement 
  • advising the bookrunners on Hurricane Energy plc’s US$230m issue of Convertible Bonds 
  • advising the bookrunners on J Sainsbury plc’s £450m issue of Convertible Bonds 
  • advising the sole bookrunner on Gold Exchangeable Limited’s US$60m issue of Secured Exchangeable Bonds 
ECP and CD Programmes
  • advising the arranger on the establishment of J.P. Morgan Securities plc’s €20bn Certificate of Deposit Programme 
  • advising the arranger on the establishment of The Weir Group plc’s US$1 billion Euro Commercial Paper Programme
  • advising the arranger on the update of IBM Corporation’s U.S.$10bn Euro Commercial Paper Programme 
  • advising Mohawk Industries, Inc. on the establishment of its US$1.8bn Euro Commercial Paper Programme 
EMTN Programmes
  • advising the arranger on the update of and issuances under JPMorgan Chase & Co.’s US$65bn EMTN Programme 
  • advising the arranger on the update of and issuances under Centrica plc’s US$10bn EMTN Programme 
  • advising The British Land Company plc on the update of its £1bn EMTN Programme 
  • advising Rentokil Initial plc on the update of and issuances under its €2.5bn EMTN Programme 
Liability Management
  • advising Wal-Mart Stores, Inc. on a tender offer in respect of up to US$5bn of US dollar and Sterling securities 
  • advising Pearson Plc on a tender offer in respect of US$1bn of US dollar Notes 
  • advising New South Wales Treasury Corporation on a tender offer in respect of its £250m Sterling Notes 
  • advising DONG Energy A/S on a tender offer and exchange offer in respect of its €700m Callable Subordinated Capital Securities 
Regulatory Capital and Corporate Hybrids
  • advising CYBG PLC on its debut MREL-compliant issue of £300m Fixed-to-Floating Rate Callable Senior Notes 
  • advising the lead managers on Helvetia Holding AG’s issue of EUR 500m Tier 2 Note issue 
  • advising DONG Energy A/S on its issuance of €600m Callable Subordinated Capital Securities due 3015 
  • advising the joint lead managers on Royal London’s £400m new issue of Solvency II-compliant Tier 2 Notes
 Retail Bonds and Other Debt
  • advising LendInvest Limited on its debut retail bond issue - the first retail bond issue by a major FinTech company listed on the London Stock Exchange’s Order Book for Retail Bonds 
  • advising the lead managers on Hitachi Capital’s CNY 184m Formosa Notes and CNH 500m Dim Sum bonds
  • advising Iron Mountain Europe plc on its £400m Guaranteed Senior Notes
  • advising the lead manager and sole bookrunner on Acciona S.A.’s issue of €62.7m Senior Unsecured Notes