The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. 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.
Slaughter and May has advised longstanding client Punch Taverns on a £350m rights issue, the second of its kind in the pub industry.
Partners David Johnson and David Watkins advised Punch on the placement, made last Monday (15 June).
London-based finance partner Philip Boeckman at Cravath Swaine & Moore advised Punch on US matters. Punch will use the funds to repay a convertible bond issue to the value of £200m. Thereafter it is understood the company will make selected purchases of securitised debt, “to remove an unhelpful overhang on the stock price”, according to a source.
Freshfields Bruckhaus Deringer corporate partner Simon Witty, together with corporate partners Jennifer Bethlehem and Sarah Murphy, advised joint bookrunners and sponsors Merrill Lynch and Goldman Sachs.
Witty said: “It’s an interesting structure that has been used before by Liberty International and Debenhams. It’s another example of the book-built approach to placing an open offer.”
Slaughters recently advised Punch on its £30m sale of 11 managed pubs to Birketts’ client Greene King (The Lawyer, 15 June).
Greene King used the proceeds of its own discounted £207m cash call - a first for the pub sector - to finance that acquisition (The Lawyer, 4 May).