LECAP Law Firm acted as legal advisor in relation to RUB 10 billion Series 01 structured bonds issue by Special Purpose Company "Structured Investments 1" LLC.
LECAP team led by partners Michael Malinovskiy and Elizaveta Turbina provided full legal support in relation to the project, including structuring the deal and cross-border security mechanism, drafting deal and issue documentation, developing a formula for calculating additional income, as well as advising parties on application of rating agencies' methodologies. S&P Global Ratings assigned its 'BBp' credit rating to the issue.
Cross-jurisdictional team from the Russian Federation, the Netherlands and Luxembourg worked together on implementation of the complex deal structure.
On 3 June 2016 Special Purpose Company "Structured Investments 1" LLC placed 100 bonds with a par value of RUB 100 million maturing 1 September 2023 via open subscription. The bonds contemplate coupon payments and potential additional income.