Anne Marie Salan is a senior associate in the Banking & Capital Markets group in London and has a broad range of experience in international capital markets and securities transactions, with a particular focus on high yield and emerging markets debt offerings. Her experience includes representation of public and private issuers, underwriters and placing agents in all aspects of international equity and debt offerings.

Anne Marie's experience includes a wide variety of debt offerings, including Rule 144A and Regulation S bond offerings, high yield debt offerings and liability management transactions. She has also worked on SEC-registered and secondary equity offerings and private placements. Recently, Anne Marie has represented several European corporate issuers in high yield debt restructurings and related post-restructuring debt and equity offerings.

Anne Marie regularly advises clients on a wide variety of US securities law issues, including Sarbanes-Oxley and other corporate governance issues, ongoing disclosure obligations and reporting requirements and liability issues under US securities laws and has assisted foreign issuers in the preparation of annual reports and other periodic SEC filings.

Anne Marie joined the firm in January 2005 from the London office of a US law firm, where she was an associate in the firm's New York corporate department and its London international corporate finance department.

She recently completed an eight-month secondment to an international investment bank in London, providing legal coverage for its emerging markets debt capital markets group.

Examples of Anne Marie's recent representations include:

• Representing URSA Bank in its debt tender offer for outstanding €400 million 7.0% Loan Participation Notes due 2010 and €300 million 8.3% Loan Participation Notes due 2015, both issued by URSA Finance plc, conducted as modified Dutch auctions and with Citi and ING acting as dealer managers;
• Representing Credit Suisse and UBS on Alfa MTN Markets Limited's issuance of US$500 million 8.20% Guaranteed Notes due 2012 (unconditionally and irrevocably guaranteed by ABH Financial Limited and Open Joint-Stock Company "Alfa-Bank"), pursuant to its US$2 billion Euro Medium Term Note Programme;
• Representing Orascom Telecom Holding S.A.E. (and its finance subsidiary) on its debut Rule 144A/Regulation S high yield offering of US$750 million 7.875% Senior Notes due 2014, the first high yield bond by an Egyptian corporate issuer to date and the largest debut bond issuance to date for a sub-investment grade corporate bond in the Middle East and Africa (underwritten by Credit Suisse, Citigroup, ABN AMRO and Deutsche Bank);
• Representing Pakistan Mobile Communications Limited (a subsidiary of Orascom Telecom Holding S.A.E.) on its Rule 144A/Regulation S high yield offering of US$250 million 8.625% Senior Notes due 2013, the first high yield bond issued by a Pakistani corporate issuer to date (underwritten by ABN AMRO and Deutsche Bank);
• Representing Orascom Telecom Holding S.A.E. and its parent company, Weather Capital S.a r.l., on the offering by Weather Capital Finance S.A. of €825 million 4.75% Exchangeable Bonds due 2013 (initially exchangeable into existing Global Depositary Receipts representing ordinary shares of Orascom Telecom Holding S.A.E.) (underwritten by Citigroup, Credit Suisse and Deutsche Bank);
• Representing Norwegian issuer Norske Skogindustrier ASA on its NOK 3.9 billion (approximately US$620 million) global rights offering of 56,808,538 new shares (underwritten by Deutsche Bank and Nordea);
• Representing the Ministry of Finance of the Republic of Poland on its SEC shelf registration statement and subsequent issue of US$1 billion 5% Notes due 2015 and US$100 million 5.408% Notes due 2035 (underwritten by Lehman Brothers and JPMorgan);
• Representing Merrill Lynch as arranger on American Honda Finance Corporation’s and Honda Canada Finance Inc.’s US$9 billion EMTN Programme update;
• Representing UPC Holding B.V. on its high yield offering of €500 million 7¾% Senior Notes due 2014 (underwritten by Credit Suisse First Boston and JPMorgan);
• Representing Caliber Global Investment Limited on its US$150 million global offer of 15 million new ordinary shares and London Stock Exchange listing (and concurrent Rule 144A private placement) (underwritten by Citigroup, Bear Stearns and Deutsche Bank);
• Representing Deutsche Bank AG as sole initial purchaser of Damovo Group SA's €218 million 10¼% Senior Secured Notes due 2012 and €140 million Senior Secured Floating Rate Notes due 2012, refinancing the issuer's recent bridge facility; and
• Representing Dutch issuer IFCO Systems N.V. on the consensual restructuring of its €200 million 10 5/8% Senior Subordinated Notes due 2010 and senior credit facility and related issuance of new Frankfurt Stock Exchange listed shares and warrants and Luxembourg Stock Exchange delisting.