Global law firm Freshfields has advised on the successful closing of five capital markets transactions across the CEEMEA region, raising in aggregate nearly US$4 billion and demonstrating its cross practice, cross border expertise.

Pepco

Freshfields has advised IBEX Retail Investments (Europe) Limited ("IBEX") on the successful secondary placing of shares in leading pan-European discount variety retailer Pepco Group N.V. (“Pepco”) to incrementally expand and improve the trading liquidity in Pepco shares. The placing was conducted by way of an accelerated bookbuild to institutional investors and Pepco repurchased shares with a total value of €50m in the placing by way of a share buyback, a novel structure believed to be the first of its kind in the Polish market. IBEX raised aggregate gross proceeds of approximately €325m and, following the transaction, continues to hold approximately 66% of Pepco's outstanding share capital.

The Freshfields team was led by partners Doug Smith and Edward Cole and senior associate Katie Bentel. Partner Hanneke Rothbarth and counsel Bert Spijkervet advised on Dutch and EU legal matters.

Further info on the transaction can be found here.

Republic of Lithuania

Freshfields has advised the joint lead managers in connection with the Republic of Lithuania's dual tranche issuances under its Euro Medium Term Note (EMTN) programme of €1.25bn five year notes, and €750m 15-year notes.

The Freshfields deal team was led by London capital markets partner Peter Allen and senior associate Greg Garfield, alongside associate Laura Hutchinson and trainee Bethanie Lim.

Further info on the transaction can be found here.

OPEC Fund for International Development

Freshfields has advised the joint lead managers on the OPEC Fund's US$1.25bn fixed rate issuance under its Global Medium Term Note (GMTN) programme.

The Freshfields deal team was led by London capital markets partner Peter Allen and senior associate Greg Garfield, alongside associate Laura Hutchinson and trainee Jack Vaughan. Partner Doug Smith advised on U.S. capital markets matters.

Further info on the transaction can be found here.

Republic of Georgia

Freshfields has advised the joint bookrunners and dealer managers in connection with the issuance by Georgia of US$500m fixed rate Notes and a concurrent tender offer.

Georgia successfully issued Eurobonds in the amount of US$500m on the London Stock Exchange, with the coupon rate set at 5.125%. This issuance sets a new benchmark for the Eurobond market, representing the lowest coupon rate among Eurobonds issued by countries with a credit rating comparable to Georgia’s, as well as by countries with a one-notch higher credit rating, over the past four years.

The Freshfields deal team was led by London capital markets partner Peter Allen and senior associate Greg Garfield, alongside associate Megan McDonnell and trainees Bethanie Lim and Arthur Ddamulira. Partner Doug Smith and associate Stephanie Belenkov advised on U.S. capital markets matters. Partner Claude Stansbury and associate Dominik Pascal Luczak advised on U.S. tax matters. BGI LLC acted as Georgian local counsel.

Further info on the transaction can be found here.

MHP SE

Freshfields has advised MHP SE, the parent company of a leading international food and agri group with headquarters in Ukraine, on its US$450m 10.500% notes due 2029, and subsequent US$100m tap issuance, to refinance its maturing 2026 Eurobonds. The transaction represented the first issuance by a Ukrainian corporate since the start of the full-scale war with Russia, and was a powerful signal of the willingness of international investors to reopen the Eurobond market for strong Ukrainian credits.    

The Freshfields team was led by partners Doug Smith and Simone Bono, alongside counsel Shruti Dusaj, senior associate Jennifer Brokamp, and associates Stephanie Belenkov, Lea Mansouri, Enzo Paganetti and Benedict Choi.  

Further info on the transaction can be found here.