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MoFo Represents Isavia on €175 million U.S. Private Placement

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Morrison Foerster (MoFo) has represented Isavia, Iceland’s sole airport operator and air navigation service provider, on its successful €175 million senior unsecured inaugural U.S. Private Placement issuance.

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Morrison Foerster (MoFo) has represented Isavia, Iceland’s sole airport operator and air navigation service provider, on its successful €175 million senior unsecured inaugural U.S. Private Placement issuance.A cross-practice team advised Isavia, acting as U.S. and English counsel, on this first bond issue in the history of the company Isavia.The financing is a one-phase issue concluded in August 2023, with bonds that have a duration of seven to 12 years. The capital will be used to refinance existing loans of the company and to support further development at Keflavík International Airport.The MoFo team in London was led by Capital Markets Partner Scott Ashton and Associate Amelia Cheng, and also included Capital Markets Senior of Counsel Brian Bates, Finance Partner John Burge, Tax Partner Trevor James, Tax Associate Kirsten Banks, Tax Associate Harry Anderson, and Trainee Solicitor Lewis Ball.

MoFo Represents Isavia on €175 million U.S. Private Placement

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Scott has a corporate finance practice with emphasis on cross–border securities offerings, mergers and acquisitions, and restructurings. His capital markets experience includes private placements and public offerings of debt and equity (including Rule 144A, Regulation S, and SEC–registered offerings); his M&A experience encompasses public and private acquisitions, asset sales, and tender offers; and his restructuring experience includes debt restructurings, bankruptcy proceedings, and corporate spin‑offs.As part of the firm’s leading private placement team, Scott has specialized experience in representing issuers who wish to make private placements of securities to institutional investors. In addition to traditional model form transactions, Scott is a member of the Loan Market Association working group on private placements that developed the LMA private placement documentation.

Scott D. Ashton

Partner

Amelia Cheng is an associate based in the London office of Morrison & Foerster and is a member of the Capital Markets Group.Amelia has experience across a range of finance and capital markets matters, including advising on covered bond issuances, equity-linked bond issuance, commercial paper and EMTN programmes.Amelia read law at The School of Oriental and African Studies, University of London, and graduated in 2013. She completed the LPC at the University of Law (Moorgate) in 2014. Amelia is qualified as a solicitor in England and Wales. She advises clients from Europe, US and Asia and is fluent in English and Mandarin.

Amelia Cheng

Associate

Brian represents clients in a wide range of financing transactions, including private debt and equity placements, bank syndications, various bank finance products, high yield offerings, and mezzanine and LBO financings. He has a specialized practice representing non-U.S. entities that want to make cross-border private placements of securities to U.S. and other large financial institutions and pension funds.He has extensive experience in cross-border private placements and practices almost exclusively on the issuer side of the table.Brian’s private placement capabilities in issuer-side cross-border placement representation far exceed any other specialist cross-border private placement practice in both issuance value and number of issues. During the course of the last several years, with respect to overall issues and dollar volume, Brian led his group in the representation of issuances of approximately 30 percent of total cross-border USPP debt.In addition to having worked in private placement finance for well over 30 years, Brian continues to act as the sole issuer-side member of the Transactions Process Management Committee of the American College of Investment Counsel (ACIC) where he is a fellow. The ACIC is responsible for the development of new model forms for the cross-border private placement market.

Brian Bates

Senior Of Counsel

<div style="margin-bottom: 15px;" class="videoWrapper"><iframe class="sticky-video" title="Meet Trevor James, Tax Partner" src="https://www.youtube-nocookie.com/embed/QzAcj49XaPo?rel=0" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen="1" title="iframe"></iframe></div>Trevor has over 30 years of experience in providing corporate and international tax advice. His practice focuses on advising client on the tax planning aspects of international transactions and strategic tax planning for global clients. He has particular experience in advising clients in the technology sector and IP-rich companies.Trevor has also advised clients on the design and implementation of global private equity and investment funds, including advising executive teams on the structuring of their carried interest arrangements. He is familiar with the legislation, HM Revenue & Customs guidance and current market practice in relation to such arrangements.Trevor has extensive experience in the tax-efficient structuring of complex debt securities, private placement transactions and other international finance instruments. He also advised both banks and corporates in connection with the design and implementation of financial and structured products, including mortgage, royalty and receivable securitizations transactions and covered bonds transactions.He also advises companies in connection with employee equity participation issues, including advising on HM Revenue & Customs approved share option schemes, unapproved option schemes, long-term incentive plans and direct issue of shares to employers and directors.

Trevor L James

Capital Markets

Private Placements

United Kingdom