Ropes closes City deal hat-trick as high yield drives leveraged finance
Ropes & Gray's fledgling London office has handled three high yield bond issues this year, following the transfer of US finance partner Jane Rogers to the City. Rogers, who joined the firm's London arm in September last year from the US firm's Boston base, has advised the issuers on three high yield transactions since her arrival.
February 18, 2011 at 10:25 AM
2 minute read
Ropes & Gray's fledgling London office has handled three high yield bond issues this year, following the transfer of US finance partner Jane Rogers to the City.
Rogers, who joined the firm's London arm in September last year from the US firm's Boston base, has advised the issuers on three high yield transactions since her arrival.
On all three deals, she oversaw a London-based team including associates Robert Haak, Haden Henderson, Eric Issadore and Michael Kazakevich.
Rogers (pictured) advised Telenet Group on the issuance of €300m (£252m) worth of senior notes. Latham & Watkins and Allen & Overy were instructed as joint counsel for lead managers on the deal – Credit Suisse, JP Morgan, BNP Paribas, Bank of America Merrill Lynch, Royal Bank of Scotland (RBS) and Societe Generale.
Rogers also acted for UPC Holding on two separate issues worth $1bn (£617m) and €750m (£623m) respectively. Bookrunners on both deals included Citibank, Credit Suisse, Deutsche Bank, RBS, and UBS. The banks instructed Latham & Watkins, offshore firm Appleby and Benelux leader NautaDutilh.
The deals underline the dramatic increase in the use of high yield bonds in Europe's deal markets over the last two years as borrowers tap investors in place of retrenching bank lenders.
Rogers commented: "These transactions are yet another indicator of a robust market for high yield note offerings in Europe. We are extremely pleased to assist our clients as they continue to turn to the high yield market to execute their strategic objectives."
Ropes & Gray announced earlier this month that it was to launch a private equity practice in London with the hire of DLA Piper corporate partner Kiran Sharma, who joined the firm this week (14 February).
Since its launch in January 2010, the firm's London managing partners Maurice Allen and Mike Goetz have built a team numbering nine partners and 18 associates.
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