David E. Howe

DAVID HOWE is a capital markets and finance lawyer in the London office, where he heads the English law Capital Markets team.

David has extensive experience of acting for issuers, underwriters, and trustees on a wide range of European and Asia Pacific-focused capital markets transactions, including regulatory and hybrid capital instruments, equity-linked products, high-yield debt offerings, debt restructurings, tender and exchange offers, and other liability management transactions.

David has received acknowledgement from numerous industry ranking guides, including:

• Legal 500 UK 2023 - 2026 – Ranked as a Leading Individual for Debt Capital Markets. Sources from 2026 note, “David Howe offers personal care, excellent knowledge of our company and he is easily accessible to handle any request.” In 2025, clients commented that “David Howe has a huge wealth of experience and knowledge which has had identifiable impact on specific transactions. Happy to spend time educating clients in order to improve their knowledge and enable them to do their jobs more effectively. Trusted as an advisor and to act in client’s best interests.” 2024 sources commented that, “David Howe, the partner responsible for the company I work for, is very well-informed about our operations overall and provides unique solutions to accommodate our needs.” In 2023, sources said “David is an outstanding lawyer. He makes the most complex issues understandable to clients, has a keen eye for assessing legal risk and combines a rare mix of deep technical experience, market knowledge and ability to come up with highly innovative and groundbreaking solutions.”
• Chambers UK (2022 – 2026) and Chambers Europe (2022 - 2025) – Ranked for Capital Markets: Debt (UK). In 2026 a client comments, “David is knowledgeable and has an excellent understanding of our needs. He is easily accessible and delivers very high quality results.” Sources from 2025 note, “David is a very experienced partner.” Clients commented in 2024 saying, “David has always shown a strong understanding of business and has a highly pragmatic approach.” “David is a very capable DCM lawyer and is always very collaborative. His deals get done on time and there is invariably a positive atmosphere.” In 2023, David was described by a client as having “a calm, pragmatic approach to transactions.” Sources were quoted in 2022 saying “David's knowledge of capital markets is impressive, as is his ability to identify and implement solutions quickly and effectively.”
  
• Chambers Global 2022 and 2024 – Ranked for Capital Markets: Debt (UK). In 2024 sources note, “David has always shown a strong understanding of business and has a highly pragmatic approach.” “He is just exceptional and is super responsive. He has your back in all deals and will go into battle with you.”  “David is a very capable DCM lawyer and is always very collaborative. His deals get done on time and there is invariably a positive atmosphere.” In 2022 clients commented “he cuts through to the key points and simplifies complex legal issues.”

Recent examples of significant experience include advising:

• Juventus Football Club S.p.A. on the successful private placement of its €150 million bond issuance.
• BNP Paribas and the other Managers in connection with the issue by Commonwealth Bank of Australia of €1.5 billion 2.907%. Covered Bonds due 2030 under its Covered Bond Program.
• Coca-Cola Europacific Partners in connection with the offering of its €600 million 3.25%. Notes due 2032.
• Caterpillar Financial Services Corp. (CFSC) in connection with the issuance of €800 million 3.023%. Notes due 2027 under its Euro Medium-Term Note Program.
• 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%. Notes due 2027 and €750 million 3.125%. 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.