Andrew Coote

Special Counsel
Norton Rose Fulbright LLP

London
United Kingdom
T:+44 (20) 74442511
London
United Kingdom
T:+44 (20) 74442511
Andrew Coote

Andrew Coote

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Biography

Andrew Coote is a counsel in our Capital Markets Group in London with over 15 years experience advising arrangers, corporates, sovereigns and trustees on a broad range of public bond issuances (both Rule 144A and Regulation S) and private placements.  Andrew was seconded to the debt capital markets and leverage finance legal desk of a leading investment bank for 12 months and has particular expertise in the issuance and restructuring of structured debt transactions (including project bonds, securitisations and sukuk).

Andrew has also advised The International Committee of the Red Cross and Save the Children on social impact funding structures and arrangements on a pro bono basis.


Professional experience

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  • Solicitor, qualified in England & Wales

Representative experience:

  • Advising the joint lead managers on the issuance of a US$700m green bond to refinance, at the time of its construction, the world’s largest solar power project
  • Advising the Government of Pakistan on the issuance of all its outstanding sovereign bonds and sukuk
  • Advising a leading Saudi power generation company on the issuance of its debt benchmark sukuk 
  •  Advising a leading investment bank on the issuance of its debut US$500m benchmark Sukuk
  • Advising originators on structuring debt instruments (including loan facilities and privately placed notes) to finance the origination of loan receivables and residential mortgage loans
  • Advising a leading international bank as arranger of a £200m privately placed project bond
  • Advising a fund on financing the development of a mine in South America through the issuance of deferred interest and profit participating notes
  • Advising a leading investment bank as arranger on the issuance of a £200m bond to finance the construction of student accommodation for a UK university
  • Advising the arrangers of a £192 m project bond (as part of a £750m multi-source project finance arrangement)
  • Advising a European airline on the issuance of US$500m aviation bonds guaranteed by US EX-IM bank 

 DCM experience:

  • Advising Citigroup, HSBC, MUFG, BNP Paribas, SMBC and FAB as the joint lead managers in relation to the issuance of a USD700m Rule 144A/Reg S green project bond to refinance the Noor Abu Dhabi Solar Power Project
  • Advising the Government of Pakistan in relation to the establishment of its global note programme listed on the London Stock Exchange and inaugural US$1 billion bond issuance thereunder in March 2021
  • Advising the Government of Pakistan on all bond and sukuk issuances since 2014
  • Advising Global University Systems on the issuance of a £235m high yield bond to refinance a £175m bridge facility
  • Advising Goldman Sachs as issuer of its debut benchmark US$500m sukuk (Islamic bond)
  • Advising Barclays Bank PLC and Royal Bank of Canada as the arrangers of a £192 million project bond to finance the construction of roads in Scotland
  • Advising HSBC as the arranger of a £190 million project bond to finance the construction of university accommodation
  • Advising Malaysian Airline System Berhad in relation to the issuance of a US$300m Rule 144A/Reg S export credit agency guaranteed aircraft bond
  • Advising Polskie Linie Lotnicze LOT S.A. (LOT Polish Airlines) in relation to the issuance of US$400m export credit agency guaranteed aircraft bonds
  •  Advising Deutsche Bank and Citibank in relation to the issuance of a €2.25bn asset backed security by Synergatis plc (assets originated by Piraeus Bank)

 Social Impact DCM experience:

  •  Advising the International Committee of the Red Cross on the world's first Humanitarian Impact Bond, an initiative that drew investment from the private sector to design, build and operate rehabilitation centres in Africa.
  • Advising HSBC in relation to the issuance of a £200m bond to finance the construction of student accommodation by a UK university.
  • Advising Barclays Bank PLC and Royal Bank of Canada as arrangers of a £192 million project bond to finance the construction of roads in Scotland (being part of a £750 million multi-source project finance arrangement).
  • Advising Global University Systems on a £175m bridge facility and subsequently the issuance of a £235m high yield bond to refinance the bridge facility.
  • Advising TradeRisks Limited on the issuance of a £70m bond to refinance a UK student accommodation project finance arrangement.
  • Advising the Government of Pakistan on multiple issuances including its US$2.5 billion bond under the Global Medium Term Note Programme in 2021; its US$2.5bn combined sukuk and Eurobond in 2017; its US$1bn sukuk in 2016; its US$500m bond in 2015; its US$1bn sukuk in 2014 and its US$2bn bond in 2014. The bonds and sukuk were all offered under Rule 144A and Regulation S of the US Securities Act of 1933 to investors in the United States and internationally and listed on the Luxembourg Stock Exchange.

 Sukuk DCM experience:

  • Advising ACWA Power on its SAR 2.8bn (US$747m) debut sukuk that was privately placed to investors in the Kingdom
  • Advising the Government of Pakistan in relation to the establishment of its global note programme and global sukuk programme and inaugural issuances thereunder
  • Advising the Government of Pakistan on its US$2 billion bond issue, its largest ever bond offering and two US$1 billion standalone sukuk issues
  •  Advising the Saudi Capital Market Authority in relation to various multi-jurisdictional benchmarking studies concerning the regulatory and supervisory framework of the financial markets in England and Wales, including enforcement powers available to regulators for contraventions of securities legislation by market participants.
  •  Advising Bank of England in relation to the use of standardised prospectus documentation for asset backed securities, including the preparation of standard form prospectus summaries to be used by market participants
  • Advising Goldman Sachs in relation to the issuance of a debut benchmark US$500 million sukuk using a wakala-murabaha hybrid structure
  • Advising Gatehouse Bank on the update of its sukuk programme and two issuances of real estate backed sukuk
  • Advising Global University Systems on the issuance of a £235m high yield bond to refinance a £175m bridge facility
  • Advising Barclays Bank PLC and Royal Bank of Canada as arrangers of a £192 million project bond to finance the construction of roads in Scotland
  • Advising Malaysian Airline System Berhad in relation to the issuance of an export credit agency guaranteed aircraft bond
  •  Advising Al Jaber Group (a large UAE conglomerate) in relation to the restructuring of its Islamic facilities

 DCM Project Bond experience:

  • Advising MUFG as arranger of £200m privately placed bond issued by a UK local council
  • Advising a hedge fund in relation to its financing of the development of a lithium mine in Mexico through the issuance of deferred interest and profit participating notes listed on the International Stock Exchange (Channel Islands).
  • Advising TradeRisks Limited as arranger for the issuance of a £60m bond to finance the construction of student accommodation for Essex University.
  • Advising HSBC as arranger in relation to the issuance of a £200m bond to finance the construction of student accommodation for Sussex University.
  • Advising TradeRisks Limited as arranger for the issuance of a £98m project bond to refinance a UK student accommodation project finance arrangement for Essex University.
  • Advising Barclays Bank PLC and Royal Bank of Canada as arrangers of a £192 m project bond to finance the construction of roads in Scotland (being part of a £750 m multi-source project finance arrangement). This £745m, 58km PFI project was the largest and most complex combined debt (both commercial and EIB) and bond financing in the UK to date.
  • Advising LoT Polish Airlines on the issuance of US$400-500m aviation bonds guaranteed by US EX-IM bank.  The bonds were used to finance LoT’s acquisition of Boeing 777 Dreamliner passenger aircraft.
  • Advising Malaysian Airline System Berhad in relation to the issuance of a US$300m Rule 144A/Reg S export credit agency guaranteed aircraft bond
  • Advising Deutsche Bank and Citibank as arrangers in relation to the issuance of a EUR2.25Bn asset backed security by Synergatis plc (assets originated by Piraeus Bank).
  • Advising the European Investment Fund in relation to a partial financial guarantee of a portfolio of loans originated by Unicredit for the purposes of releasing regulatory capital.

Insights

Middle East Capital Markets Watch: DCM

Publication | March 30, 2023

Social and governance issues of ESG

Blog | July 04, 2022

TACT Conference 2022

Webinar | July 01, 2022