McDermott Will & Emery UK LLP
McDermott Will & Emery UK LLP has a small but active high yield practice in London, which particularly notable for its work on behalf of trustees. Head of finance Ranajoy Basu and counsel Priya Taneja are both key advisers to trustees on new bond issuance and restructurings, and clients note that they exhibit ‘high Levels of responsiveness, commerciality, and good technical knowledge’. They count Deutsche Bank and US Bank Trustees among their clients. Basu and Taneja (who is ‘a very hard worker and very efficient’) acted for Citibank and GLAS Trustees Limited in the $1.25bn restructuring for Nostrum Oil & Gas plc.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘They do trustee work on high yield matters.’
‘Ranajoy Basu is one of the go-to guys for trustee work on high yield matters.’
‘High levels of responsiveness. Commerciality, good technical knowledge.’
‘Priya Taneja is a very hard worker and very efficient.’
'Highly experienced team with particular expertise and experience in acting for Agents. The team acts for most of the leading independent agents and has an impressive track record, also acting in distressed cases / handling enforcement and restructurings on behalf of the Agent.'
'I have worked intensively with Priya Taneja on a complex restructuring. She is truly excellent. Very well organised and solution driven, whilst protecting the interests of her clients.'
Key clients
- Deutsche Bank AG, London Branch
- HSBC
- Citibank, N.A., London Branch
- Bank of New York Mellon
- Deutsche Bank Trust Company Americas
- Deutsche Trustee Company Limited
- Wilmington Trust (London) Limited and Wilmington Trust, National Association
- Kroll Trustee Services Limited
- U.S. Bank Trustees Limited
- GLAS Trust Company LLC
Work highlights
- Advised GLAS Trustees Limited (GLAS) in its various capacities with respect to a high-profile US$1.1.25 billion restructuring for Nostrum Oil & Gas plc (Nostrum), an LSE-listed independent oil and exploration & production company in northwest Kazakhstan.
- Having acted on Lundin’s US $2 billion high yield issuance and separately on Aker’s US $1.25 billion high yield issuance, the firm advised on one of the most complex and high-profile reorganisations of 2022.
- Acted for Citibank in its capacity as trustee on one of the largest financial, debt and corporate restructurings of Naviera Armas, S.A. and its subsidiaries (the “Group”) (c. €1 billion).
Practice head
The lawyer(s) leading their teams.
Ranajoy Basu