Flotations & Financing

Herbert Smith represented Merrill Lynch International in its capacity as lead manager on a £1.15bn bond issue by Edison First Power, a subsidiary of Edison Mission Energy. The issue will allow the purchase of two coal power stations, Ferrybridge C in Yorkshire and Fiddler's Ferry in Cheshire, from PowerGen. Kevin Pullen, banking partner at Herbert Smith, worked with a seven-strong team which included tax partners Heather Gething and Ross Fraser. Stephen Fiamma, senior partner at Jones Day Reavis & Pogue, advised Edison on tax issues while Linklaters & Alliance provided advice on corporate and banking matters.