White & Case Advises AK BARS Bank on US$350 Million Bond Issue
Global law firm White & Case LLP has advised AK BARS Bank on a US$350 million Reg S Eurobond. The transaction represents the first time a Russian financial institution has managed to access the international markets following the imposition of Russian sanctions in 2014.
The offering, part of the Bank’s US$1.5 billion Euro Medium Term Notes Programme and listed on the Irish Stock Exchange, attracted a mix of international investor interest and Russian demand.
"White & Case was delighted to support long-term client AK BARS Bank in this important transaction" said Stuart Matty, White & Case partner and Global Capital Markets Practice Leader. "Despite volatile market conditions and the significant impact the imposition of sanctions has had on the ability of Russian entities to access the international markets, this offering was well received by investors, reflecting the strong position of the bank and renewed interest in Russian issuers. Our long history and experience advising financial institutions in Russia allows us to successfully bring important transactions like this to market."
Credit Suisse and UBS Investment Bank acted as arrangers and dealers as well as joint lead managers.
The White & Case team was led by London-based partner Stuart Matty with support from Russian-based local partner Dmitry Lapshin and associates Renat Akhmetzyanov and Yulia Petelina.
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