International law firm Freshfields Bruckhaus Deringer has advised Citigroup Global Markets Limited, J.P. Morgan Securities Ltd. and VTB Capital plc in relation to the issue by Nomos Capital plc of U.S.$500m 10% Loan Participation Notes due 2019, to fund a subordinated loan to OJSC “Nomos Bank” (“Nomos”).
This offering represents the largest subordinated Eurobond issue by a Russian private bank and marks the longest non-callable subordinated debt transaction out of Russia. The offering is also Nomos’ first issuance targeting the qualified institutional buyer investor base in the US pursuant to Rule 144A under the US Securities Act.
The Freshfields team advising on the deal included partners Peter Allen and Sarah Murphy supported by senior associate Helen Jones, associates Erica Macdonald and Brent Sanders and trainee Sean Downey. The Moscow team included partner Mikhail Loktionov with senior associate Pavel Koutovoi and associate Mikhail Kleptsov. They were supported by Freshfields’ London, New York and Moscow corporate, finance and dispute resolution practices as well as the UK and US tax practice groups.
Mikhail Loktionov, Managing Partner of the Moscow office of Freshfields and head of the Russian capital markets team said, ’Our growing presence in the Russian debt capital markets, as illustrated by this deal and the recently closed Raspadskaya transaction, illustrates our ability to help clients realise their aspirations whilst managing risk implications’.
(Press Release by Freshfields Bruckhaus Deringer)
