The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Allen & Overy (A&O) has landed a role on the first eurobond to be issued directly by a Hungarian corporate.
The magic circle firm advised MOL Hungarian Oil and Gas on its €750m (£429.4m) debut eurobond. Prior to the issue date, MOL embarked on an investor roadshow around Europe and during the book-building process received orders of around €2.2bn (£1.26bn).
A&O secured the role thanks in part to its advice on an MOL syndicated loan earlier in the year, the biggest corporate loan in Hungary. London capital markets partner Philip Smith led the deal with Budapest partner Zoltán Lengyel advising on Hungarian law issues, while partner Simon Hill provided corporate trustee advice. Smith has been a regular adviser on Hungarian bond issues including notes from mortgage bank FHB and OTP Bank.
The last Hungarian corporate bond was issued in 1997 by Pannon GSM, but it was issued through a special purpose vehicle instead of directly by the corporate.
Clifford Chance partner Robert MacVicar represented joint lead managers BNP Paribas and Deutsche Bank.