Related services and key industries
Peter Young is a capital markets lawyer based in our London office. He is a qualified partner in England, New York and Ireland and has market-leading experience under United States federal securities laws.
Peter advises on offerings in the US, pursuant to Rule 144A, and outside the US, pursuant to Regulation S. He also advises on SEC registered offerings. His experience focuses on major debt offerings in Sub-Saharan Africa and other emerging markets.
Peter has extensive experience of advising investment banks, sovereign and quasi-sovereign issuers, bank holding companies and corporate clients operating across a broad spectrum of industries, including: financial services; energy; technology; retail; manufacturing; healthcare; power, oil and gas; pharmaceuticals; shipping and steel.
Peter advises on a wide range of cross-border capital markets transactions, including: sovereign bonds; high-yield bonds; MTN programmes; convertible and exchangeable bonds; commercial paper programmes; and liability management transactions (including consent solicitations and tender offers). He has advised on UK and US IPOs and rights offerings. He also advises a number of European corporates on compliance and corporate governance matters.
Peter joined our London practice as a partner in 2012. Prior to this, he was a partner in a leading US law firm based in London.
Peter is cited as a "leading individual" for debt capital markets in Legal 500 UK 2016, 2017, 2018 and 2019. Legal 500 also describes him as "a down-to-earth guy with strong knowledge and great availability" with clients adding that "it is a real pleasure working with him" and that "his professionalism and manners are simply impeccable". Peter is also rated as "Highly Regarded" in the IFLR1000 rankings.
- Attorney at Law, admitted in New York
- Solicitor, qualified in England & Wales
- Solicitor, admitted in Ireland
Principal debt transactional experience:
- Government of Angola – advised on the establishment of its Global Medium Term Note programme (listed on the main market of the London Stock Exchange) and its dual-tranche international sovereign bond issues of US$3bn thereunder. The transaction involved the issue of US$1.75bn 10-year bonds and US$1.25bn 30-year bonds.
- Coca-Cola HBC – advised one of the world's largest bottlers of The Coca-Cola Company's brands on: its London-listed €5bn debt issuance programme in 2019; the May 2019 issues of €700m 1.000 percent bonds due 2027, and €600m 1.625 percent bonds, due 2031; the related tender offer for Coca-Cola HBC Finance B.V.'s outstanding €800m 2.375 percent bonds due 2020; and the November 2019 issue of €500m 0.625 percent bonds due 2029.
- Telenor – advised the leading Nordic telecoms company on its €10bn debt issuance programme in 2018 and, in 2019, its SEK7.25bn triple-tranche Swedish kronor bond issue in March 2019 (the largest senior unsecured corporate issue in Swedish kronor to date), its €2.5bn triple-tranche bond issue in May 2019, and its €1.5bn triple-tranche bond issue in September 2019, each listed on the Luxembourg Stock Exchange.
- Schlumberger – advised the world's largest oilfield services company on its €1.5 billion triple-tranche bond offering, comprising €500m 0.00% 5 year bonds, €500m 0.25% 8 year bonds and €500m 0.50% 12 year bonds, each listed on the main market of the Luxembourg Stock Exchange.
- Ecobank – advised Ecobank Transnational Incorporated, the holding company of a leading pan-African banking group with a presence in 36 African countries, on its inaugural US$450m Rule 144A / Reg S international eurobond and its US$50m tap issue, each listed on the London Stock Exchange
- Piraeus Bank and Eurobank Ergasias – represented in their capacity as joint coordinators and bookrunners with the public offering of US$200m 3.6 percent bonds by Aegean Airlines
- Cell C – advised the leading South African telecommunications corporate on a highly complex and cross-border US$1.28bn restructuring. Shortlisted for Restructuring Team of the Year - British Legal Awards 2017, Emerging Markets Deal of the Year – TMT Finance Awards 2017, and Legal Adviser of the Year – TMT Finance Awards 2017
- Ecobank – advised the leading pan-African bank on its inaugural convertible bond, the first issuance by an African issuer on the International Securities Market of the London Stock Exchange
- Nordex – advised the leading German wind turbine manufacturer on its inaugural US$275m high-yield bond offering of senior notes due 2023, listed on the International Stock Exchange
- Go-Ahead Group PLC – advised on its £250m bond issue listed on the London Stock Exchange
- Petropavlovsk – advised the London-based gold mining company on its US$500m international bond offering
- Good Energy PLC – advised on its corporate mini-bond offering
- Citi – advised on a US$350m bond offering by Venator, the leading US chemicals company
- McLaren – advised on a £200m shareholder investment and on its £370m and US$250m secured notes due 2022
- Aklease – advised on its offering of international bonds listed on the main market of the Irish Stock Exchange
- Government of Angola – advised on its second international sovereign bond issue of US$3bn, constituting one of the largest sovereign bonds to be issued in sub-Saharan Africa. The transaction involved the issue of US$1.75bn 10-year bonds and US$1.25bn 30-year bonds which were listed on the main market of the London Stock Exchange
- Government of Angola – advised on the 'tap' issue of US$500m 30-year bonds in July 2018, also listed on the London Stock Exchange. Won Sovereign Debt Deal of the Year - Bonds, Loans and Sukuk Africa Awards, 2019
- Government of Angola – advised on its inaugural US$1.5bn bond issue in November 2015, Angola's debut international bond issuance and, at the time, the largest inaugural bond issue by a non-investment grade sub-Saharan African sovereign. Won Standout Transaction - Innovation in New Markets and Capital, FT Innovative Lawyers Awards 2016
- Sandvik – advised the Swedish high technology engineering conglomerate on its €3bn EMTN programme and on its repurchase offer to holders of its €600m 6.875 percent notes and the issue of euro denomination fixed rate notes
- Vattenfall – advised the leading Swedish power company on its €10bn EMTN programme
- Brack Capital Real Estate – advised on its issue of 4.25 percent convertible bonds due 2020 and its EMTN programme
- International Finance Corporation – advised as investor on various debt capital markets transactions
- Kingdom of Bahrain – advised on its US$1bn eurobond and US$1bn Sukuk issues in October 2016, as well as a further issue of US$600m eurobonds in March 2017
- Sequa Petroleum N.V. – advised on its issuance of up to US$300m of convertible bonds due 2020 which were listed on the Oslo Stock Exchange
- Global University Systems – advised on the issuance of a £235m high-yield bond listed on the Euro-MTF market of the Luxembourg Stock Exchange
- Morgan Stanley – advised on the English law aspects of a secured bond issue and ABL facility to support the acquisition of a division of Anixter Inc, a NYSE-listed conglomerate, by American Industrial Partners
- Government of Pakistan – advised on a US$2bn eurobond issue in 2014, the largest international bond offering, to date, by Pakistan, and its first sovereign bond offering since 2007. Comprised a dual tranche of US$1bn in five-year bonds and US$1bn in 10-year bonds. Advised the Government of Pakistan on a US$500m eurobond issue in 2015
- Government of Pakistan – advised on two US$1bn Sukuk issues. The Sukuk used an Ijarah structure secured over a section of the Lahore-Islamabad motorway
- Emerging Africa Infrastructure Fund Limited (EAIF) - advised on its participation (as investor) in the offering and sale of high-yield bonds by Seven Energy Finance Ltd, including on EAIF's investment, environmental and social policies, anti-money laundering and anti-corruption
- East West United Bank – advised on the establishment of its US$1bn Certificate of Deposit programme
- Global Ship Lease Inc – advised a containership lessor listed on the NYSE on its issuance of US$400m first priority secured notes due 2021, which were listed on the Irish Stock Exchange
- Chicago Bridge & Iron Company – represented the multinational conglomerate in the engineering, procurement and construction industry with an offering of US$800m notes in a US private placement
- Alfa Laval – advised on its placement of US$110m 5.75 percent guaranteed senior notes
- HSBC – advised on its issuance of US$1.4bn subordinated bonds
- HSBC – advised on its issuance of US$1.25bn non-cumulative step-up perpetual preferred securities
- HSBC – advised on its issuance of €1.4bn perpetual step-up notes
- HSBC – advised on its issuance of US$900m subordinated bonds
- Investment banks – represented on an offering of US$5bn by Siemens AG, one of the largest German global electronics and engineering companies
- Credit Suisse and BNP Paribas - represented on an offering of €142m senior notes of Magyar Telecom
- Investment banks – represented on an offering of €1bn by Fresenius AG, a global health care group based in Germany
- An investment bank – advised on an offering of €130m senior guaranteed notes of Yioula Glassworks S.A., a leading supplier of glass containers
- Investment banks – represented on an offering of €275m senior secured notes by Vendex KBB, a leading Dutch non-food retailer
- Corus Group – represented a leading British steel company on an offering of €600m senior notes and further offering of €200m senior notes
- Citigroup – represented on an offering of €120m by Heckler & Koch, the leading defence contractor in the small arms sector of the European NATO defence market
- Jefferies International – represented on an offering of high-yield notes by Timan Oil & Gas, an independent energy company with assets in Russia
- BG International Finance BV – represented on its €3.5bn EMTN programme guaranteed by BG PLC.
Principal liability management experience:
- The dealer manager and consent solicitation agent – represented on a cash tender offer for 11 percent senior notes of Zlomrex and a related consent solicitation and refinancing with new bonds
- Huntsman International LLC – represented the global manufacturer and marketer of chemical products on its cash tender offer for €400m of 6.875 percent senior subordinated notes and €135m 7.5 percent senior subordinated notes and the refinancing of new bonds
- Ono Group – represented on its cash tender offer and consent solicitation for its 13 percent US$ notes, its 13 percent euro notes, its 14 percent US$ notes and its 14 percent euro notes (in total amounting to US$350m) and the refinancing of new bonds
- Avecia Group PLC – represented the British specialty chemicals business on its cash tender offer for up to 77 percent, US$415m, of outstanding 11 percent senior notes and its related consent solicitation and refinancing with new bonds
- Dealer-managers – represented on an exchange offer of US$878m subordinated notes of a British-based bank holding company for outstanding notes of a US mortgage company
- ArcelorMittal – represented its cash offer for outstanding 11.875 percent senior secured notes and the refinancing of new bonds
- Orange PLC (now EE) – represented its cash offer and consent solicitation of US$200m 8.75 percent notes, and the redemption of US$545m 8 percent senior notes, €100m 7.625 percent senior notes, and £200m 8.625 percent senior notes
- BSN Glasspack – represented its cash tender offer of €180m 10.25 percent senior subordinated notes.
Norton Rose Fulbright advises Angola on first international global debt issuance program and US$3 billion dual-tranche international sovereign bond
November 26, 2019
April 23, 2019
July 23, 2018