Simon H.P. Morgan

Partner

Practice Description

Representative Matters

• MDM Bank and URSA Bank as joint clients in their merger into a bank holding company, creating one of the leading private universal banks in Russia;
• Gazprombank – $150 million private placement listed on the Irish Stock Exchange;
• Rosbank (OJSC JSCB) (Russia) – $75 million Class 2004 9.75% Structured Receivables Notes (consolidated and forming a single series with the $225 million Class 2004 9.75% Structured Receivables Notes) issued by Russia International Card Finance S.A.;
• Alfa Diversified Payment Rights Finance Company S.A. (Russia) – $260 million Series 2006-A Notes due 2011 (OJSC Alfa Bank as the originator of the securitized diversified payment rights);
• Alfa Diversified Payment Rights Finance Company S.A. (Russia) – €230 million Series 2006-B Notes due 2011 and $260 million Series 2006-C Notes due 2011 (OJSC Alfa Bank as the originator of the securitized diversified payment rights);
• Alfa Diversified Payment Rights Finance Company S.A. (Russia) – €145 million Series 2007-A Notes due 2012 and $200 million Series 2007-B Notes due 2012 (OJSC Alfa Bank as the originator of the securitized diversified payment rights);
• MDM Finance Company S.A. (Russia) - €225 million Series 2006-A Notes due 2011 and $200 million Series 2006-B Notes due 2011 (JSCB MDM Bank as the originator of the securitized diversified payment rights);
• MDM Finance Company S.A. (Russia) - $350 million Series 2007-A Notes due 2012 (JSCB MDM Bank as the originator of the securitized diversified payment rights);
• Akbank T.A.Ş. (Turkey) diversified payment rights securitization programme – $1.433 billion issue of eleven tranches of Floating Rate Regulation S/Rule 144A Notes (guaranteed by Ambac, CIFG, MBIA, XL and Assured Guaranty) by A.R.T.S. Ltd. (with Akbank as originator and servicer of the securitized remittances);
• Akbank T.A.Ş. (Turkey) diversified payment rights securitization programme – $450 million further issue of three tranches of Floating Rate Regulation S Notes (one tranche being guaranteed by FGIC and one by FSA) by A.R.T.S. Ltd. (with Akbank as originator and servicer of the securitized remittances);
• Akbank T.A.Ş. (Turkey) diversified payment rights securitization programme – $600 million further issue of three tranches of Floating Rate Regulation S Notes (one tranche being guaranteed by Ambac) by A.R.T.S. Ltd. (with Akbank as originator and servicer of the securitized remittances);
• Akbank T.A Ş. (Turkey) diversified payment rights securitization programme - $393 million further issue of one tranche of Floating Rate Regulation S Notes (one tranche being guaranteed by Ambac) by A.R.T.S. Ltd. (with Akbank as originator and servicer of the securitized remittances);
• Akbank T.A.Ş. (Turkey) diversified payment rights securitization programme - $860 million ($300 million of new funding and $560 of refinancing) further issue of multiple tranches of Floating Rate Regulation S Notes by A.R.T.S. Ltd. The new funding was obtained from WestLB, Standard Chartered, Wells Fargo, European Investment Bank (EIB) and International Finance Corporation (with Akbank as originator and servicer of the securitized remittances);
• Kazkommerts DPR Company (Kazakhstan) - $200 million Series 2005-A Floating Rate Notes due 2012 guaranteed by Ambac (JSC Kazkommertsbank as the originator of the securitized diversified payment rights);
• Kazkommerts DPR Company (Kazakhstan) - $100 million Series 2006-A Floating Rate Notes due 2013 and $100 million Series 2006-B Floating Rate Notes due 2013 guaranteed by FGIC and Ambac (JSC Kazkommertsbank as the originator of the securitized diversified payment rights);
• Kazkommerts DPR Company (Kazakhstan) - $150 million Series 2007-A Floating Rate Notes due 2017, $250 million Series 2007-B Floating Rate Notes due 2017 and $100 million Series 2007-C Floating Rate Notes due 2017 guaranteed by FGIC, MBIA and ADB (JSC Kazkommertsbank as the originator of the securitized diversified payment rights);
• Alliance DPR Company (Kazakhstan) - $200 million notes, in two tranches, both due 2013. $100 million Fixed Rate Series A Notes due 2013 (guaranteed by the Asian Development Bank) and $100 million Floating Rate Series B Notes due 2013 (JSC Alliance Bank as the originator of the securitized diversified payment rights); and
• OAO TMK (Russia) - advising OAO TMK (Russia's largest producer of steel pipes) 2009 in relation to the restructuring of four loans to four of its steel pipe-making subsidiaries, where SACE (Italian Export Credit Agency) was the export credit agency insurer.