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White & Case Advises on Polish MoF €2 Billion Green Bonds Issuance

Global law firm White & Case LLP has advised the Polish Ministry of Finance on the €2 billion issuance of ten- and 30-year euro-denominated ‘Green Bonds’, maturing respectively on March 7, 2029 and March 8, 2049.

The €1.5 billion issuance of the ten-year Green Bond yields 1.057% with an annual coupon of 1%. The €500 million issuance of the 30-year Green Bond yields 2.071% with an annual coupon of 2%.

The bonds were issued under the Republic of Poland’s €60 billion Euro Medium Term Note Programme, and the proceeds will finance environmental projects according to the Green Bond Framework developed by the Ministry of Finance in line with the ICMA Green Bond Principles.

The buyers of the ten-year and 30-year Green Bonds were well diversified with, respectively, 47 percent and 43 percent of the allocations going to designated green accounts.

The White & case team which advised on the transaction was led by local partner Andrzej Sutkowski (Warsaw), with support from counsel Doron Loewinger (London) and associates Katarzyna Grodziewicz, Damian Lubocki (both Warsaw) and Luiza Salata (London).

Baker McKenzie Named Mainland Europe’s Strongest Law Brand

Leading Global law firm Baker McKenzie has been named Europe’s strongest law brand in the 2018 Acritas Mainland Europe Index.

The Firm received an overall score of 100 – nearly 30 points ahead of the firm that ranked second place – and ranked top for awareness, favourability, top level engagement, multi-jurisdictional deals, multi-jurisdictional litigation, high value usage and inbound usage. The Firm ranked number one in France and Russia, and placed high in Germany, Spain and Italy.

Constanze Ulmer-Eilfort, Baker McKenzie’s Chair of the EMEA region, said: “To be named the top legal brand in Europe is an outstanding endorsement of the work we do and is welcome validation from the European market of the progress we have made. We’ve built our business around investing in our client relationships and innovating to stay relevant to clients so we’re delighted that commitment has been recognised by senior legal buyers across Europe.”

Ranking is based on the responses of 448 senior legal buyers, based in Mainland Europe about their organization’s overall legal needs, and a further 311 senior legal buyers about their international needs in the key jurisdictions of France, Germany, Netherlands, Russia and Spain.

Esteban Raventós, a member of the Firm’s Global Executive Committee, said: “Brands are built upon trust, and in professional services trust is built through excellent service and expertise. We’re pleased to be recognised for the depth of our practice in mainland Europe and our unique ability to deliver global perspectives and local expertise simultaneously.”

The Firm’s European ranking follows Acritas naming Baker McKenzie the strongest global law firm brand in its Global Elite Law Firm Brand Index for the ninth year in a row. In the global survey, the Firm ranked at the top for each of the measures in the Acritas Index – awareness, favourability, consideration for multijurisdictional deals and for multijurisdictional litigation.

Hogan Lovells reports rise for equity partners

Partners at transatlantic firm Hogan Lovells increased their profit share in the last calendar year, the firm’s latest results indicate. Profit per equity partner rose 4% to £1.035m in the year ending 31 December 2018, up from £996,000 in 2017.

The firm did not provide an overall pre-tax profit figure. Revenue rose from £1.581bn to £1.596bn – a 0.9% increase. Calculated in US dollars, profit per equity partner was $1.381m, up from $1.283m. Revenue was $2.11bn, up from $2.037bn.

Chief executive Steve Immelt said the firm expects an ’increasingly volatile global economy’ in the year ahead, with trade tensions and uncertainty caused by political instability such as Brexit creating a slow-down effect.

He added: ‘Having broken through the $2 billion revenue barrier in 2017 we have consolidated that position with further growth of just over 4% of revenue in 2018, as well as higher increases in revenue per lawyer and profits per equity partner.’

Byron Romain Joins White & Case as a Partner in Houston

Global law firm White & Case LLP continues to expand its Houston office with the addition of new partner Byron Romain. Romain will be part of the Firm’s Global Project Development and Finance Practice and will work closely with its Global Oil & Gas Industry Group.

“Byron is a highly skilled and experienced lawyer who has an impressive track record working on significant projects across the oil & gas industry,” said Philip Stopford, Co-Head of White & Case’s Global Oil & Gas Industry Group. “His arrival coincides with the first anniversary of the Firm opening our Houston office, which signals our commitment to expanding the leading capability of our oil & gas expertise within the region.”

Romain’s practice includes representing major and independent oil & gas companies, sovereigns, quasi-governmental agencies, private equity sponsors and portfolio companies in the acquisition, disposition and development of oil & gas projects in the upstream and midstream sectors. He also advises on asset and equity deals, joint venture/development arrangements, equity investments and financing/lending arrangements.

Romain joins White & Case from Simpson Thacher & Bartlett, where he was previously the head of its North American oil & gas A&D practice.

“Expanding our industry expertise across the oil & gas industry is a pillar of our 2020 strategy,” said Jason Webber, Co-Head of the Firm’s Global Oil & Gas Industry Group. “Byron’s arrival reinforces this goal, and his sophisticated technical skills and extensive knowledge of the oil & gas sector will play an integral role in further enhancing our client offering in Houston, and across the wider Americas region.”

London City

Crowell & Moring plans London training contract after Squires hire

Crowell & Moring’s new London managing partner Robert Weekes has set out plans to launch a training contract in the City office, having joined the US firm today from Squire Patton Boggs.

Weekes’ move was revealed by Leaders in Law last November, months after it was revealed that Squires’ global head Stephen Mahon would be relocating from the US to lead operations in London.

As head of Crowell’s London office, Weekes will be filling a similar position as before, having been a former City managing partner of Squires.

Now in his new role, Weekes said he plans to bring in a training contract to the London office from September 2021. His plans for the London office also include a pledge to triple its headcount by the end of 2022; Crowell currently has nine partners in London and six fee-earners.

To grow, Weekes has highlighted expansion in litigation, followed by the corporate group and regulation practices. Banking, insurance and financial regulation will be part and parcel of this growth plan. Weekes himself is a litigator, specialising in the financial disputes and investigatory work.

Litigator Weekes will take over from partner Jim Regan, who shares his time between the London and Washington offices. Regan had served as the point of contact between the firm’s head quarters and the London office.

Founded in 1979 by a group of 53 breakaway lawyers from Jones Day, Crowell totals more than 500 lawyers around the world.

Weekes said: “The firm wouldn’t have hired me if it didn’t want to grow. I have a reputation for expansion. I see myself as a person who knows how to grow teams that work well together across practice groups to find innovative and commercial solutions for clients.”

Crowell currently counts Microsoft, BMW, Siemens and BlueCross BlueShield among its clients.