Elizaveta Turbina

Partner

T: +7 495 122 05 17
E: elizaveta.turbina@lecap.ru


Areas of expertise
  • international and domestic capital markets
  • securitisation
  • structured products
  • securities regulation
  • M&A
  • other corporate transactions
Experience

Elizaveta is a member of the Primary Market Committee of CJSC MICEX Stock Exchange. She also participates in the Securitisation Expert Committee of the Russian Central Bank.

Elizaveta advises Russian and international banks, other financial institutional and corporate entities. Prior to joining LECAP, she spent over eight years with a Magic Circle international law firm focusing on equity and debt capital markets as well as M&A projects.



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Elizaveta Turbina is ‘very client-friendly’ and provides ‘timely and practical advice based on strong experience’

The Legal 500 2017: Capital Markets



Securitisation

Elizaveta advises originators and lead managers on domestic and cross-border securitisations of various asset classes originating from Russia (including mortgage, consumer and car loans, factoring receivables etc), including with placement of a foreign issuer’s bonds on the Russian stock exchange.

Her recent experience includes:

  • advising on securitisation of receivables arising from the services rendered under a long-term locomotive maintenance services agreement between the originator (TMH Service LLC) and its customer — the first Russian law regulated securitisation of receivables due from a single debtor

  • advising on RUB 4 billion issuance of Series 02 covered bonds by JSC "UniCredit Bank"

  • advising the arrangers on a securitisation of an auto loan portfolio of VTB 24

  • advising Otkritie Bank on its debut Russian domestic securitisation of a residential mortgage loan portfolio

  • advising VTB 24 on its debut securitisation of a residential mortgage loan portfolio under the Russian domestic legislation on mortgage-backed securities

  • advising Agency for Housing Mortgage Lending on their first Russian securitisations of residential mortgage loan portfolios

M&A and Corporate

Elizaveta's experience includes:

  • drafting a set of documents for Sistema Venture Capital in connection with attracting minority investors – a unique transaction setting up a commonly used fund structure on the basis of a Russian LLC with buyout options, complex funding/cash call mechanics and multiple minority investors

  • advising on structuring and setting up a Russian non-bank settlement credit institution

  • advising PIK Group of Companies, a leading Russian developer, on mandatory offer to shareholders of a public joint-stock company

  • advising Europlan, a leading Russian leasing company, on corporate restructuring of a holding of financial assets via spin-off of leasing business into a separate entity

  • advising Tele2 on acquisition of shares of a subsidiary JSC from ‘missing’ minority shareholders and consolidation of 100% of shares of a JSC

  • advising Russian and international businesses in relation to acquisition of Russian companies in a wide range of sectors (including, among others, retail, consumer electronics, production of food, fish catching, tobacco, electricity)

  • advising on set up and operation of joint ventures between international and Russian businesses in various sectors

  • advising Russian and international groups on Russian corporate reorganisations, corporate governance, and other corporate law matters

Equity Capital Markets

Elizaveta's recent experience includes:

  • advising on RUB 3.5 billion IPO of shares of GLOBALTRUCK MANAGEMENT on the Moscow Exchange

  • advising on RUB 32.4 billion IPO of shares of RussNeft on the Moscow Exchange – the first IPO of a Russian oil company in ten years

  • advising on RUB 11.7 billion IPO of shares of FUTURE Financial Group on the Moscow Exchange – the first IPO of shares of non-state pension funds in the history of Russian securities market

  • advising on two SPOs of shares of Research and Production Corporation "United Wagon Company" on the Moscow Exchange for a total amount of RUB 6.9 billion

  • advising on RUB 3.274 billion IPO of shares of Europlan on the Moscow Exchange, as well as on subsequent RUB 15 billion SPO

  • advising on RUB 3.7 billion IPO of shares of  Novorossiysk Grain Plant on the Moscow Exchange

  • advising Tinkoff Credit Systems Bank in connection with the IPO of GDRs of its sole shareholder, TCS Group Holding PLC

  • advising the lead managers in connection with the SPO of GDRs of Globaltrans

  • advising the lead managers in connection with the IPO and listing of shares and GDRs of Global Ports

  • advising the lead managers in connection with the IPO of Mostotrest

Debt Capital Markets

Elizaveta's recent experience includes:

  • advising KTZ, Kazakhstan national railway operator, on the debut Russian bond issuance of KTZ's SPV (KTZ Finance LLC) secured by a suretyship from KTZ — it is the first parallel placement of Russian corporate bonds in two jurisdictions and a landmark deal paving the way to the Russian market for other CIS issuers looking for a new platform for raising debt capital ("Best Foreign Issuer Deal", Cbonds Awards 2017)

  • drafting issuance documentation for two concession bonds issues

  • advising on RUB 10 billion structured bonds issue. S&P Global Ratings assigned its 'BBp' credit rating to the issue

  • advising on restructuring of Geotech Seismic Services Series 01 bonds ("Restructuring of the Year", Cbonds Awards 2016)

  • providing legal support in relation to admission of bonds of a foreign issuer, SovCom Capital D.A.C., to public trading in the Russian Federation. The notes were intended for qualified investors only – which is the first example of such admission in the Russian market and experience of the Moscow Exchange

  • advising on registration of RUB 30 billion debut exchange-traded bonds program by Central Suburban Passenger Company, as well as on further exchange-traded bonds issue

  • advising on the buyback of Series 03 bonds issued in Russia by the IFC, including structuring down payment and calculation of additional interest linked to a complex formula targeting Russian inflation rate

  • restructuring of a number of corporate bond issuances (Series 13–14, Series 17–19 and Series 04) by PJSC "Mechel" for a total amount of RUB 30 billion, including assistance in holding the general meetings of bondholders ("Restructuring of the Year", Cbonds Awards 2015 – "Mechel, 13")

  • providing legal support in relation to registration and placement of an up to RUB 40 billion exchange-traded bonds programme by ING BANK (EURASIA) JSC

  • Other

    Elizaveta's experience includes:

    • providing advice and training on anti-bribery matters to major Russian and international industry companies

    • advising foreign companies on setting up operations in Russia

    • advising Russian and international companies on various aspects of securities and others regulations

    Education
    • International Law faculty of the Moscow State Institute for International Relations (MGIMO) (finance law, 2007)

    Elizaveta speaks Russian, English, and German.

    Publications



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