David E. Howe

Recent examples of significant experience include advising:

• Australia’s Worley Group on the establishment of its US$2 billion EMTN programme, its debut issue of €500 million five-year sustainability-linked bonds, the establishment of its ECP programme for the purposes of accessing the Joint HM Treasury and Bank of England Covid Corporate Financing Facility and its April 2023 issue of A$350 million 5.95% sustainability-linked bonds which was awarded ‘Australian Innovative Deal of the Year 2023’ by KangaNews.
• Bank of Cyprus Holdings Public Limited Company in connection with:
  • the issuance of its €300 million Fixed to Floating Rate Senior Preferred Green Notes due May 2029, which was awarded ‘Best Financial Institution Bond in SEE’ for 2023 by EMEA Finance; and
  • the issuance of its €220 million Fixed Rate Reset Perpetual Additional Tier 1 Capital Securities, and its concurrent cash tender offer to holders of its outstanding additional tier 1 capital securities.
• GSK plc and its subsidiary GlaxoSmithKline Capital plc in connection with their November 2022 cash tender offer relating to five series of the group’s outstanding sterling-denominated notes, and the subsequent issue by GSK Capital BV of €500 million 3 per cent. Notes due 2027 and €750 million 3.125 per cent. Notes due 2032 under the group’s £20 billion EMTN programme.
• The initial purchasers on the European side in concurrent exempt offerings by Cargill, Incorporated of (i) $600 million aggregate principal amount of 4.500% Notes due 2026 and $500 million aggregate principal amount of 4.750% Notes due 2033 offered and sold in reliance on Rule 144A and Regulation S, and (ii) €500 million aggregate principal amount of 3.875% Notes due 2030 offered and sold in reliance on Regulation S.
• GlaxoSmithKline plc and various of its subsidiaries in connection with a number of significant financing transactions in preparation for the proposed spinoff of GSK’s Consumer Healthcare business and listing of Haleon plc., including the establishment of liquidity and working capital facilities, EMTN, ECP, and USCP programmes and issues of various debt securities thereunder.
• McDonald’s Corporation in connection with various issues of notes under its US$20 billion Global Medium term note programme.
• The dealers under Westpac Banking Corporation’s US$70 billion EMTN programme and Westpac Securities NZ Limited and Westpac New Zealand Limited’s US$10 billion EMTN programme and various issues of notes thereunder.
• The dealers under Commonwealth Bank of Australia’s US$40billion covered bond programme and various issues of covered bonds thereunder.
• Various Chinese property development companies in connection with senior and subordinated debt and convertible debt issuances and related liability management and other restructuring transactions
• Kroll Agency and Trustee Services Limited in its capacities as pre-petition facility agent and security agent, and DIP facility agent and DIP collateral agent, in connection with Genesis Care Pty. Limited’s Chapter 11 proceedings.
• Kroll Agency and Trustee Services Limited and its affiliates in their various trustee and agency roles in connection with the restructuring by Jain International Trading B.V. (JITBV), a direct subsidiary of Indian-listed multinational micro-irrigation, food processing, and plastic products conglomerate, Jain Irrigation Systems Limited, of its US$200 million 7.125% senior notes due 2022, involving an injection of US$30 million new money funding and an exchange of JITBV’s existing notes for three series of new notes, implemented by way of an English law scheme of arrangement under Part 26 of the UK Companies Act 2006.
• Kroll Trustee Services Limited and affiliates in connection with the restructuring of Croatia’s Agrokor d.d. and the subsequent issue by its successor, Fortenova group, of various stapled Convertible Bonds and Depositary Receipts and secured senior notes, including post-closing matters relating to the application of U.S., UK, and EU sanctions.
• Travelex on its financial and operational restructuring.
• Recharge Industries, a portfolio company of Scale Facilitation, on its acquisition of Britishvolt Limited.
• Membership Collective Group, Inc., a London-based membership and hospitality company (and parent company of Soho House and related businesses), in connection with its initial public offering and listing on the New York Stock Exchange of thirty million shares of its common stock. The transaction included a novel simultaneous public offer to eligible members and employees in the United Kingdom.
• Bank of Cyprus Holdings plc on its response to unsolicited takeover proposals submitted by an affiliate of a fund advised by Lone Star.