Darina Lozovsky

Partner, Moscow, London

Biography

“She is a rainmaker and a strong US lawyer who understands Russia.”
Chambers Global

Overview

Darina is the head of our Capital Markets practice in Russia and shares her time between Moscow and London offices. She focuses on international capital markets and securities transactions and regularly represents issuers, underwriters and placement agents in a variety of Rule 144A/Regulation S equity and debt offerings. In its latest editions The Legal 500 notes: "Practice head Darina Lozovsky is 'very proactive, supportive and client-focused', 'easy to work with and very responsive'". Chambers Global in its 2014 – 2018 editions reports: "If there's trouble, she sorts things out". "She is a rainmaker and a strong US lawyer who understands Russia". "Not only is she a strong lawyer who is very good at detail, she is also a great relationship manager", able to "deliver quickly and thoughtfully", clients say.

Prior to joining White & Case, Darina had been a member of the capital markets group at a magic circle firm in Moscow. In addition, Darina has also been a member of the capital markets group at a leading law firm in New York where she represented underwriters and issuers in transactions involving commercial mortgage backed securities.

Bars and Courts
New York State Bar
Education
JD
New York University School of Law
BA
University of the Pacific
Languages
Russian
English

Experience

Representation of Magnitogorsk Iron & Steel Works as guarantor on the offering by MMK International Capital DAC of US$500 million 4.375% notes due 2024 unconditionally and irrevocably guaranteed by Magnitogorsk Iron & Steel Works. The notes were listed on a regulated market of Euronext Dublin.

Representation of Morgan Stanley, Goldman Sachs, Credit Suisse, BofA Merril Lynch, VTB Capital and Sberbank CIB as underwriters in connection with an SEC registered, NASDAQ listed US$220 million initial public offering of American Depositary Shares (ADS) of HeadHunter, major Russian internet recruitment company.

Representation of a syndicate of banks including Credit Suisse and J.P. Morgan, as Joint Global Coordinators and Joint Bookrunners, and China International Capital Corporation, Halyk Finance and Mizuho International plc, as Joint Bookrunners, and Numis Securities, as Co-Manager, on the US$451.3 million initial public offering of Kazatomprom, the world's largest producer of uranium. Kazatomprom's ordinary shares have been admitted to trading on the newly established Astana International Exchange (AIX) and GDRs on the LSE and AIX.

Representation of SIBUR Holding on the tender offer in relation to US$500 million 4.125% Guaranteed Notes due 2023. The aggregate principal amount of notes accepted for purchase pursuant to the offer was US$192 million (October 2018); as well as on the tender offer in relation to US$1 billion 3.914% guaranteed notes due 2018. The aggregate principal amount of notes accepted for purchase pursuant to the offer was US$172 million. In conjunction with this tender offer, SIBUR issued new US$500 million 4.125% guaranteed notes due 2023, inter alia, to finance the purchase of the notes under the tender offer (October 2017).

Representation of Credit Bank of Moscow as borrower on its eurobond offerings since 2016 and several tender offers in relation to these eurobonds.

Representation of the Republic of Belarus as issuer in connection with (i) issue of US$600 million 6.20 percent Notes due 2030 (February 2018); (ii) issue of the dual-tranche Regulation S/Rule 144A Senior Unsecured US$800 million 6.875 percent Notes due 2023 and US$600 million 7.625 percent Notes due 2027 (June 2017).

Representation of En+ Group plc as issuer on the offering of global depositary receipts admitted to trading on the London Stock Exchange and the Moscow Exchange. The total size of the offering amounts to US$1.5 billion at the offer price, of which US$1.0 billion is primary proceeds and US$0.5 billion is a secondary component, excluding the over-allotment option. En+ Group plc is a leading international vertically integrated aluminium and power producer with core assets located in Russia. The transaction is the largest Russian IPO globally since 2012.

Representation of Joint bookrunners (BCS Global Markets and Citigroup) in connection with US$60 million Initial public offering of ordinary shares of Globaltruck Management, one of the largest full-truck load trucking companies in Russia.

Representation of Joint bookrunners in connection with the RUB 6.2 billion (approximately US$100 million) initial public offering of ordinary shares of Obuv Rossii, the leader of the mid-price segment of Russia’s footwear market, on the Moscow Exchange.

Representation of Credit Bank of Moscow on the RUB 14.4 billion (approximately US$248 million) secondary public offering of ordinary shares on the Moscow Exchange.

Representation of Detsky mir, Russia's largest children's goods retailer, as issuer, and Sistema, as selling shareholder, on the RUB 21.1 billion (approximately US$360 million) initial public offering of up to 33.55 percent of Detsky mir’s ordinary shares on the Moscow Exchange.

Representation of B&N Bank as borrower in the offering on the international capital markets of US$150 million loan participation notes issued by, but with limited recourse to, B&N Bonds Designated Activity Company for the purpose of financing a loan to B&N Bank.

Representation of EuroChem, a leading Russian fertiliser producer, in a tender offer in relation to its US$750 million 5.125% loan participation notes due 2017. The aggregate principal amount of notes accepted for purchase pursuant to the offer was US$426 million. In conjunction with the tender offer EuroChem issued new US$500 million 3.8% loan participation notes due 2020 to, among others, finance the purchase of notes under the tender offer.

 

Awards and Recognition

Chambers Global 2019 – Band 2
Capital Markets, Russia

The Legal 500 2018
Leading Individual in Capital Markets, Russia

IFLR 1000 2019
Highly regarded, Capital Markets, Russia

Ranked in Best Lawyers
Capital Markets