‘Technically excellent as well as being very commercially aware’, White & Case LLP continues to cement its place among the leading DCM groups in London, having successfully built on its presence in emerging markets and sovereign debt deals to create a fully rounded practice that handles standalone and MTN programmes, bank regulatory capital and corporate hybrids, private placements, project and green bonds, liability management, equity-linked instruments, and debt restructuring. ‘By far one of the best debt capital markets teams – smart, business-minded, focused and responsive’, remarks a client. Standout partner Melissa Butler assisted Sweihan PV Power Company, the operator of the largest single-site solar project in the world, with its refinancing through the issuance of $700.8m in senior secured green bonds. Ian Clark represented the Ministry of Finance of Ukraine on a comprehensive liability management transaction that defers for two years Ukraine’s contractual obligation to make payments under approximately $25bn of bonds, GDP-linked warrants and sovereign-guaranteed debt obligations. Butler and the vastly experienced Stuart Matty acted for Bank Leumi in a $500m offering, which was the first Rule 144A senior unsecured bond issued by an Israeli bank to international institutional investors. Richard Pogrel, who is ‘very strong in equity-linked deals’, and Neha Saran advised Morgan Stanley on a $250m offering by Permanent TSB Group Holdings. Senior associate Anna Soroka also plays a central role in the practice.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

'We continue to lean heavily on the consistent support from White & Case for our DCM transactions. The firm has steered us through troubled times in assisting with raising funding from the international DCM in a constantly changing business with increasing regularity and political challenges. Stuart Matty and his team has become a critical resource for our business through years of diligent support.'
'Team is versatile, extremely committed, and very thoughtful and diligent in its approach.'
'Neha Saran : committed, diligent, strong under pressure, good adviser-to-adviser relationships.'
‘This is, by far, one of the best debt capital markets teams I have ever worked with (or been a part of). They are smart, very business minded and focused and responsive. The team is well known in the industry and their reputation extends to bankers, service providers and other transaction participants.’
‘All of the individuals in this practice have show themselves to be extremely capable, responsive and very pragmatic in their approach. Specifically, Richard Pogrel and his team (including associate Hashim Eltumi) are some of the best around.’
'Quality of senior partner and their close attention and involvement. Outstanding associate support.'
'Technically excellent as well as being very commercially aware. Particularly important is their deep bench of EMEA experienced US Counsel who understand the particular sensitivities of US based Financial institutions, this is particularly important for sanctions risk.'
‘The White and Case team are intellectually sound, up to date with market trends and developments in all respect, simple in assertion and collaborative in action.’

Key clients

Aggregate Holdings
Bank Leumi
Bank of Industry
Barclays Bank PLC
CETIN Group B.V.
Citigroup
Deutsche Bank
Eskom
Heights Capital Management
Jefferies Group
JP Morgan Chase
Landsbankinn hf.
Metinvest
Ministry of Finance of Ukraine
Morgan Stanley
Republic of Nigeria
Republic of Suriname
Republic of Zambia
Standard Chartered Bank
Sweihan PV Power Company
Ukravtodor
Ukrenergo

Work highlights

Representation of the Ministry of Finance of Ukraine on a comprehensive liability management transaction that, among other things, defers for two years Ukraine's contractual obligation to make payments under approximately US$25 billion of its international bonds, GDP-linked warrants and sovereign-guaranteed debt obligations.
Representation of Sweihan PV Power Company PJSC, the owner and operator of the Noor Abu Dhabi solar PV plant (the largest single-site solar project in the world), in connection with the refinancing in full of the Noor Abu Dhabi project through the issuance of US$700.8 million 3.625% green senior secured green bonds due January 31, 2049.
Representation of Bank Leumi le-Israel B.M. as the issuer on the offering of US$500 million 5.125% Senior Notes due 2027. This deal is the first senior unsecured bond issued by an Israeli bank to international institutional investors pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1993.

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