Richard is a Counsel in our global transactions group, specialising in capital markets.
He has extensive experience advising issuers and underwriters on the full spectrum of equity and debt capital markets transactions and has been nominated as a standout lawyer in the independent global survey of senior in-house counsel by Acritas. Prior to joining Freshfields, Richard practised at a leading US firm in London and also spent time on secondment at an investment bank.back to tab navigation
Richard's recent experience includes advising:
- Deliveroo on its £1.5 billion IPO and listing on the London Stock Exchange with a US-tech-style dual-class share structure
- the sponsor and underwriters on Darktrace's £190 million IPO and premium listing on the London Stock Exchange
- Nissan on its €1.15 billion divestment of its shares in Daimler through a placement to institutional investors by way of an accelerated bookbuilding process
- a cornerstone investor in Fix Price's US$2 billion IPO
- Aston Martin Lagonda on its: (i) £536 million capital raise through a £171 million strategic investment by a consortium led by Lawrence Stroll and £365 million rights issue; (ii) £152 million non-pre-emptive cash-box placing and parallel retail offer of new shares; and (iii) strategic technology agreement with Mercedes-Benz and issue of new shares and warrants as part of a £1.3 billion financing package
- the joint sponsors and underwriters on Whitbread's £1 billion rights issue
- the sponsor and underwriters on Shaftesbury's £307 million capital raise through a firm placing, placing and open offer, and offer for subscription
- KKR and other selling shareholders (including funds managed by Index Ventures, Ares and Alven Capital) on the post-IPO sale of their remaining shares in Trainline, by way of accelerated bookbuilds to institutional investors for aggregate gross proceeds of £564 million
- Warburg Pincus, General Atlantic and Emirates NBD Bank in the post-IPO sale of their shares in Network International by way of accelerated bookbuilds to institutional investors for aggregate gross proceeds of £930 million
- CNIC Corporation in the sale of its shares on Energias de Portugal by way of an accelerated bookbuild to institutional investors for aggregate gross proceeds of €176 million
Richard’s equity capital markets and corporate experience* includes advising:
- Sovereign Wealth Fund Samruk-Kazyna and National Atomic Company Kazatomprom on Kazatomprom’s US$451 million IPO and listings on the London and Astana stock exchanges; Phoenix Group on its £935 million Class 1 acquisition of Abbey Life from Deutsche Bank partly funded by a £735 million rights issue; Old Mutual on the strategic separation of OM Asset Management through a US$308 million IPO on the New York Stock Exchange and subsequent secondary offerings and disposals for an aggregate consideration of more than US$2 billion; Ares Life Sciences on the court-approved €1 billion cross-border merger of Stallergenes and Greer Laboratories to create a global biopharmaceutical company registered in the UK and listed in Paris; Globalworth Real Estate on its €687 million private placements of shares listed on AIM; M7 Real Estate on the establishment of a new UK REIT and the proposed £300 million IPO and premium listing on the London Stock Exchange; Hochschild Mining on its £65 million rights issue; PIK Group on its US$255 million tender offer for and cancellation of its GDRs listed on the London Stock Exchange; Russell Investments on its US$2.7 billion acquisition by the London Stock Exchange Group; Nokia on the US$7.2 billion sale of its devices and services business, and the issue of €1.5 billion convertible bonds to Microsoft; and Ctrip on its £1.4 billion acquisition of Skyscanner.
Richard’s debt capital markets experience* includes advising:
- the underwriters on the State of Qatar’s US$14 billion bond issues; the underwriters on HSBC’s issuances of senior, subordinated and contingent convertible notes in excess of US$40 billion; Westfield on its £800 million and US$500 million offerings of guaranteed senior notes; The Egyptian General Petroleum Corporation on its US$2.3 billion pre-export financing transactions involving the forward sales of crude and refined products; The Arab Republic of Egypt on the establishment of its US$12 billion debt programme; Banco BTG Pactual on its US$5 billion medium-term note programme, the US$1 billion and CNY 1 billion syndicated note issues under the programme, and the US$1.3 billion offering of perpetual subordinated notes to fund its acquisition of BSI; Ashtead Group on issuances of US$3.2 billion senior secured notes; Endo International on its US$1.2 billion and US$1.635 billion notes in connection with its acquisitions of Auxilium Pharmaceuticals and Par Pharmaceutical; GeoProMining on its debut US$300 million bond issue; SIBUR on its debut US$1 billion bond issue; Eurasia Drilling Company on its debut US$600 million bond issue and subsequent tender offer for the bonds prior to maturity; CEMEX on issuances and refinancings of its senior secured notes in excess of US$15 billion; the ultimate shareholder of Russian Standard Bank on a UK court-sanctioned scheme of arrangement to restructure its US$550 million of Eurobonds; Brunswick Rail on a consent solicitation to restructure its US$600 million bonds; and BNY Mellon as trustee and JP Morgan and Deutsche Bank as solicitation agents in the initial issue and a consent solicitation to revise the financial covenants of EVRAZ’s US$700 million bonds.
* Including matters prior to joining Freshfields.back to tab navigation
- Solicitor, England and Wales
- Solicitor, Ireland
London EC2P 2SR
T +44 20 7427 3073
F +44 20 7832 7001