Giles Belsey
Giles Belsey advises on structured and international debt financing transactions involving a broad range of secured and unsecured loans, capital markets instruments and other financial products. Mr. Belsey also frequently advises on refinancings and stressed and distressed debt positions. He works on emerging markets, UK and European transactions. He has had a long history of advising on sovereign credit, regulatory capital and asset-backed financings.
Mr. Belsey is recommended in The Legal 500 UK for acquisition finance and emerging markets and in the IFLR1000 guide for financial restructuring, capital markets - structured finance and securitization, and asset finance.
Financing Transactions
- U.S. investment fund in its capacity as borrower in relation to a secured English law facilities agreement which provided facilities, on an uncommitted basis, for general corporate purposes including refinancing of existing debt and future acquisitions.
- M1 Cement Holding Limited in connection with the unwinding of its JV with Mittal and subsequent sale of its shares in Breedon Group plc, a leading UK construction materials group, raising gross proceeds of £82.4 million.
- The Delegates in connection with the Emirate of Sharjah’s issuance of U.S.$750 million trust certificates due 2029 through Sharjah Sukuk Programme Limited.
- A leading international bank, as arranger, facility agent and lender, on the financing and refinancing of a global energy and resources group.
- Mechel PAO on the refinancing of its PXF facilities.
- A leading international bank on commodity prepayment transactions to a UK company.
- An international oil company on its commodity prepayment transaction.
- A leading international bank, as arranger, facility agent and lender, on the financing of the acquisition of shares in an Indian company.
- A leading biopharmaceutical company in connection with the financing of its acquisition of a Swedish company.
- A leading biopharmaceutical company in connection with its US$30 million secured term loan facility.
- A UK media group on the refinancing of its secured credit facilities.
- Leading market participants on a series of separate aircraft financing securitisations.
- JSC KazAgro National Management Holding in connection with its establishment of a US$2 billion debt issuance program and the issue by it under the program of US$1 billion 4.625% Notes due 2023.
- JSC Georgian Oil and Gas Corporation in connection with the issuance of its US$250 million 6.875% Notes due 2017.
- Joint lead managers in connection with the issue by Kazakhstan Temir Zholy Finance. B.V. of US$300 million 6.950% Notes due 2042, guaranteed by, among others, JSC National Company Kazakhstan Temir Zholy, the national state railway company of Kazakhstan.
- A South Korean pharmaceutical company on its issue of US$300 million convertible bonds.
- Joint lead managers in connection with a senior notes offering by JSC Bank of Georgia.
- BankMed S.A.L. in connection with its issue of US$500 million 5.375% Deposit Certificates due 2017.
- VEB in connection with the update of its US$30 billion Program for the issuance of Loan Participation Notes by, but with limited recourse to, VEB Finance plc.
- Spartan Capital Holdings in connection with its purchase, through a tender offer, of the outstanding Guaranteed Floating Rate Notes due 2015 issued by Polkomtel Finance and guaranteed by Polkomtel S.A., for over PLN 1 billion. This was the first transaction of its type in Poland.
- A leading UK bank on senior and subordinated issuances under its euro medium term note program.
- A leading international insurer on the establishment of its senior note program, as well as issues of subordinated debt under its subordinated debt program.
- A leading UK bank in connection with the establishment of its program to issue residential mortgage-backed securities and its issuances thereunder.
Restructurings
- Ad Hoc Noteholder Committee on the restructuring of the US$875 million eurobonds of FESCO plc, a Russian transportation and logistics conglomerate, implementing the eventual deal using a scheme of arrangement.
- Ad Hoc Group of Noteholders of the City of Kyiv on the restructuring of the City’s US$250 million 8% loan participation notes due 2015 and its US$300 million 9.375% loan participation notes due 2016. The restructuring was effected by an exchange offer and consent solicitation.
- The International Creditors’ Committee in respect of the financial restructuring of JSC Astana Finance, including the proposed issue of senior, subordinated and recovery notes and global depositary receipts representing shares.
- An Ad Hoc Group of Noteholders in respect of the financial restructuring of Russian Standard Finance S.A.
- The Creditors’ Committee in respect of the financial restructuring of certain indebtedness issued by JSC Alliance Bank.
- Noteholders in relation to the reprofiling of certain senior and subordinated indebtedness of Public Joint Stock Company “State Savings Bank of Ukraine” (Oschadbank).
- Noteholders in relation to the restructuring of a Vostok Energy plc, a UK and Russian oil and gas group.
- Noteholders in relation to the restructuring of Max Petroleum plc, a UK oil and gas group with assets in Kazakhstan.
- Noteholders in relation to the restructuring of the Cognor group, a Polish steel group.
- The United Kingdom H.M. Treasury in connection with its Credit Guarantee Scheme and the extension of the Scheme to cover asset-backed securities. These schemes were implemented by H.M. Treasury as part of the package of measures to promote financial stability during the credit crisis.
- The United Kingdom H.M. Treasury in connection with the nationalization of Northern Rock plc.
Includes matters handled at Dechert or prior to joining the firm.
Services
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- The College of Law, London, CPE and LPC, 2000, Distinction
- Christ’s College, Cambridge, B.A., 1998, with Honours
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- Solicitor, England and Wales