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Morgan Lewis Client Awarded EMEA Finance Achievement Award

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Morgan Lewis has announced that its client, the Credit Bank of Moscow was awarded the Best Financial Institution Bond Award at the 2013 EMEA Finance Achievements Awards in London for its USD 500 million subordinated Tier II Eurobond issue.

According to Morgan Lewis, the May 2013 issuance of the Eurobond represented the first ever subordinated Eurobond offering under Russia’s new Basel III regulation. Morgan Lewis served as legal adviser to Credit Bank of Moscow on the transaction under U.S., English and Russian law. The offering was also recently awarded Highly Commended CEE Deal of the Year” 2013 by Euromoney. Earlier this year, Global Banking & Finance Review named Credit Bank of Moscow as best Eurobond issuer and best borrower on the Russian syndicated loan market in 2013. In addition to the subordinated Eurobond offering, Morgan Lewis also advised Credit Bank of Moscow on a  USD 500 million senior Eurobond issue in February 2013. 

“We are delighted to see that Credit Bank of Moscow is receiving such positive recognition for its subordinated Eurobond transaction, which was a groundbreaking transaction in the Russian market,” noted Morgan Lewis Business and Finance Practice Partner Carter Brod, who led the team that advised Credit Bank of Moscow on the Eurobond offering. “The success of the offering paved the way for certain other Russian banks to make offerings of subordinated Eurobonds under the new regulation later in 2013. We are pleased to have had the opportunity to play a role in its successful execution,” he added.

 

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