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.
Lovells has won a role alongside magic circle firm Clifford Chance advising on French company EDF Energy’s e1bn (£870m) bond issuance.
Lovells capital markets head Sharon Lewis advised EDF on the euro medium term note (EMTN). The issuance is the first tranche of EDF’s programme, which has a limit of e16bn.
Clifford Chance Paris partner Cedric Burford advised BNP Paribas as arranger of the programme.
Lewis said: “I think it’ll have a specific impact on the market and is likely to be followed by other issuers. It enables the corporates to tap a wider market than the institutional investors that have become subject to many limits, in particular the absence of liquidity due to the credit crunch.”
She added that documentation had to adhere to the French financial markets authority while also being consistent with English language loan documentation.
“It was the first retail offering by a French corporate in years and France’s first one ever of an EMTN programme,” Lewis said.
In September 2008 Lovells advised EDF on its £11bn debt raising for its acquisition of British Energy. Clifford Chance advised British Energy, while Herbert Smith advised EDF on the bid.