Allen & Overy’s London and Moscow finance practices have collected the Finance Team of the Year accolade at the Legal Business Awards in London.
Allen & Overy’s team was recognised for a high-yield deal where it advised Goldman Sachs, ING and Raiffeisen on the issue of $550m (£334m) of senior secured notes due 2018 and $325m senior secured notes due 2020 for the Russian transportation group Far Eastern Shipping Company (FESCO).
The deal refinanced Russia’s largest leverage buyout, in which the London and Moscow finance practice also acted. The bonds were uniquely secured by Russian and Ukrainian shipping hard asset collateral. The deal was also significant as it was completed without the involvement of the Russian state banks.
The team was led by Sachin Davé, Stephen Matthews and Kevin Muzilla, combining knowledge of the leveraged bank market with knowledge of the high-yield market and Russian law expertise in order to create a bespoke holding company structure and covenant terms.
The ceremony at the Grosvenor House Hotel was hosted by BBC radio personality Jeremy Vine and included an audience of more than 1,100 people from across the legal profession.