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.
Norilsk Nickel, a north Russian nickel and palladium mining and smelting company, is hardly a household name. Yet, the metals giant is making waves in the Russian Eurobond market.
In April, Norilsk launched a successful $750m five-year Eurobond with an annual coupon rate of 4.375 per cent. That made it the largest ever Eurobond transaction by a Russian or CIS non-state owned company made in a deal excluding the US.
On both deals, Debevoise & Plimpton advised Norilsk, Irish firm Arthur Cox the issuer, and Linklaters the banks – this time round, Bank of America Merrill Lynch, Barclays, Citigroup, Société Générale, and Sberbank CIB.
The transaction is a sign of the times. In April 2013 alone Russian corporate issuers, led primarily by metals and mining companies, raised more than $11bn. A year earlier, the Russian Federation issued a $7bn Eurobond – the largest by an emerging markets sovereign since 2000, advised by Linklaters and Cleary Gottlieb Steen & Hamilton.
The weather might be starting to chill, but the Eurobond market in the region looks set to remain toasty.