Capital Markets

Corporate trust agreements can reflect complex deal structures that must comply with the latest regulatory and legislative provisions. In today’s digitised capital markets, the development and implementation of such agreements require expert advice and technological innovation to streamline processes and improve governance.

Ashurst’s dedicated team can advise on all aspects of debt, structured product, project or infrastructure finance, and loan agency transactions. We can also help you with trustee discretion requests, defaults, workouts and restructurings. Ashurst has a track record of navigating complex technical issues to get deals over the finishing line. Our team offers end-to-end advice, from initial issuance stages to post-closing issues, restructurings, amendments, defaults and enforcement. We also have expertise in repackaging, collateralised loan obligations and multi-jurisdictional loan financing.

Ashurst’s debt capital markets practice provides expert advice on the full range of debt products and transactions across the credit spectrum from high-yield through to investment grade. We have extensive experience advising issuers and underwriters across all areas of debt capital markets, including medium-term notes, Eurobonds, hybrid bonds, covered bonds, euro-commercial paper certificate of deposit programs, regulatory capital, private placements, liability management, project bonds, retail bonds, exchangeable convertible bonds, ESG/green bonds and digital bonds.

Ashurst advises major institutions on a broad spectrum of derivatives and structured product transactions, including equity derivatives, credit derivatives, commodity derivatives, interest rate and FX derivatives, structured products, repurchase agreements and securities lending.

Our team is also at the forefront of advising on regulatory developments, including the Benchmark Regulation, clearing, EMIR, Dodd-Frank, AIFMD, MiFID II, PRIIPs KID and the Prospectus Directive. Our team is available in key financial centres around the world. We understand the broader context and legal issues, as well as the internal procedures for complex, high-risk transactions.

Companies seeking to raise capital need to consider how equity markets are changing. For example, investors are regularly demanding better terms, conducting more rigorous due diligence and widening their investment criteria to include factors such as sustainability. Technology is also playing a more significant role, facilitating the easier exchange of data relating to investment decisions.

Ashurst advises on a diverse range of capital-raising transactions for corporations and advisers. As experts in equity capital markets, we have extensive experience in initial public offerings, entitlement offers, equity subscriptions, rights issues, private placements, block trades and buy-backs. Our dedicated team also works closely with lawyers in our debt capital markets practice on hybrid issues. 

Underwriters and issuers in high yield markets are under pressure to produce the best solutions in the face of multiple risk exposures, including default risk, interest rate risk, economic risk and liquidity risk. They can  benefit from the support of expert advisers who have extensive experience in the markets and industries in which high yield investors are most active.

Ashurst can help you with your complex financing needs globally. Our team delivers innovative advice on the full range of high yield products, including bridge-to-bond structures, bank and bond transactions, leveraged buyouts, liability management and restructuring in developed and emerging markets. From Chinese property credits to European oil and gas, we understand the complexities in markets around the world. We also apply the latest deal techniques and expertise in market dynamics to develop bespoke financing solutions, often involving multiple sources of funding.

The project and infrastructure bonds market has been resilient in recent times, despite high inflation and turbulent economic and geopolitical conditions. 

Ashurst offers exceptional expertise in financing infrastructure projects, with a project and infrastructure bonds practice that is service-driven, creative and pragmatic. We have advised on some of the largest and most complex project and infrastructure bond financings. Our global team has a proven record of delivering award-winning transactions and developing new financing techniques. We also advise all market participants, including mainstream banks, sponsors, credit enhancement providers and multilateral development banks. 

Securitisation is in transition as it is influenced by the digitisation of many manual and paper-based processes, the potential use of blockchain and distributed ledger technology, a growing demand for ESG reporting and other trends. To navigate this landscape, market participants need the right advice.

Ashurst’s experts work at the cutting edge of securitisation, across a range of regulatory environments and jurisdictions. Our team has experience in all securitisation structures and asset classes including innovative warehouse transactions, and quasi-securitisations involving a range of asset classes and structures. We can advise on asset-backed securities, trade receivables, fintech securitisations, green securitisations, quasi-government funding, asset-backed commercial papers, commercial mortgage–backed securities, residential mortgage–backed securities, non-performing loan portfolios, Islamic structures, bespoke derivatives and complex securitisation restructurings.

Understanding and navigating the laws governing the United States' securities sector can be complex. This is especially true in the context of international capital markets transactions such as registered offerings and private placements of equity and debt securities into the US. Participating in the sector requires transactional, regulatory and litigation expertise, in addition to a knowledge of both federal and state legislation.

Ashurst’s lawyers have extensive experience in leading transactions across a wide range of jurisdictions. Our US securities partners all began their careers with top US law firms and have many years’ experience representing corporate clients and investment banks outside the US. In addition to our team members across Europe and Asia-Pacific, our lawyers in New York provide support where expert tax, investment company or other US regulatory advice is required.