Ian offers clients wide-ranging capital markets experience, having advised on transactions by issuers in Ukraine, Turkey, Kazakhstan, Russia, Central and Eastern Europe and the Middle East.
He focuses on corporate finance and securities transactions, notably Rule 144A offerings and private placements of debt and equity securities.
He regularly advises sovereign governments, state-owned enterprises and investment banks in connection with external debt issues and debt restructurings. Clients which have benefited from Ian's experience and insight include the sovereign governments of Ukraine, Mozambique, Azerbaijan, Bulgaria, Qatar and Egypt. He has developed a broad understanding of the interaction of sovereign debt and banking crises.
Ian also has a significant track record of helping major corporate issuers and investment banks, both in the emerging markets and in Western Europe, to tackle the complexities that come with cross-border transactions.
In addition, Ian brings insight and hands-on experience to issuers and investors regarding cross-border private placements of debt securities in the US institutional market.
External Counsel to Ministry of Finance of Ukraine, ongoing
Ian advises the Ministry of Finance of Ukraine on all external debt matters, including those arising from the country's current crisis. Matters regarding which he has advised the Ukrainian government include its US$2.4 billion restructuring in 2000, its US$15.0 billion restructuring in 2015 (which won the American Lawyer award for "Global Finance Deal of the Year: Public Restructuring") and numerous external debt issues.
External Counsel to Ministry of Economy and Finance of Mozambique, ongoing
Ian advises the Ministry of Economy and Finance of Mozambique in connection with the restructuring of US$1.8 billion of external public and publicly guaranteed debt.
External Counsel to International Bank of Azerbaijan and Ministry of Finance of Azerbaijan, ongoing
Ian advises International Bank of Azerbaijan (IBA), the largest bank in Azerbaijan, and the Ministry of Finance of Azerbaijan on the restructuring of US$3.3 billion of foreign currency indebtedness of IBA by way of a sovereign debt exchange.
Debut US$750 million bond issue and Global MTN establishment for National Bank of Kuwait, 2017
Ian advised NBK on the establishment of its US$3 billion Global MTN programme and issuance of $750 million of senior notes under Rule 144A and Regulation S.
IPO and London listing of Egyptian oil services company, 2017
Ian advised ADES International Holding Ltd in its initial public offering via Rule 144A and Regulation S of its ordinary shares and listing on the standard listing segment of the London Stock Exchange.
Debut US$17.5 billion bond issue and $9 billion Sukuk issue by Kingdom of Saudi Arabia, 2016/2017
Ian advised Citi, HSBC and JP Morgan as joint global coordinators and joint lead managers in the establishment of the Kingdom of Saudi Arabia's Global MTN Programme and Trust Certificate Issuance Programme and initial drawdowns thereunder, the largest such issuances to date by an emerging market sovereign.
Global equity offering for Turkish energy company, 2013
Ian advised Aksa Enerji, a Turkish energy company, in connection with a secondary offering of its equity via Regulation S and Rule 144A.
Greek sovereign debt restructuring, 2012
Ian advised the Steering Committee of Greek private bond creditors and investors in connection with the exchange offer for €206 billion Greek government bonds. This transaction represented the largest sovereign debt restructuring in history, and won "Global Finance Deal of the Year" in The American Lawyer.
US$500 million global bond issue for Ukrzaliznytsia and subsequent restructuring, 2012 and 2016
Ian advised Ukrzaliznytsia, the Ukrainian state railway, on its debut US$500 million Eurobond issue via Regulation S and Rule 144A and subsequent restructuring in 2016.
US$5 billion senior notes offering for Qatar, 2011
Ian advised the government of Qatar on its issue of US$5 billion senior notes in a Regulation S/Rule 144A offering. This was the largest Middle Eastern sovereign issue of 2011.
"Seminar on Enhanced Contractual Provisions in Sovereign Debt Restructurings", November 2016: IMF-sponsored sovereign issuer conference held in Mauritius, (speaker)
"Potential Market Game Changers for Sovereigns", 2014: World Bank-sponsored Government Borrowers Forum, Cartagena, Colombia, (chair)
"Recent Developments in Ukraine", 2014: Annual Meeting of the Paris Club, (speaker)
Debt of quasi-sovereign entities: responsibility of the State?, Butterworths Journal of International Banking and Financial Law, Vol. 32 – No. 7, July/August 2017, (co-authored with Martin Mojzis)
Leading Lawyer, Chambers UK 2015; Chambers Europe 2014
Capital Markets: Debt – London (Firms)
Leading Lawyer, Chambers Global 2014
Capital Markets: Debt – UK
Leading Lawyer, Chambers Global 2014
Banking & Finance – Central and Eastern Europe