Legal Counsel

LECAP

We support the entire transaction lifecycle — from concept to market launch

LECAP is a team that delivers not just a service, but a result, combining legal expertise, current market practice, and a client-oriented approach

More than 1,500 placements of debt and equity instruments

Development and launch of the first structured bonds in Russia under the new legislation

We have been supporting IPOs since 2008, including the largest placements in recent years: DOM.RF, Sovcombank, Arenadata, Diasoft, PROMOMED, MTS Bank

Participation in the development of regulatory acts and interaction with the CBR, NSD, and Moscow Exchange

Unique experience in restructurings
(including TMK, Domodedovo, Garant-Invest)

Our focus is on working with public companies

Participation as experts:

MOEX START Expert Council;
Russian Determinations Committee (the Russian equivalent of the ISDA Determinations Committee), as an observer;
Moscow Exchange Committee on the primary equity market;
Expert Council on the long-term investment market at the Bank of Russia;
Expert Council on securitization of financial assets at the Bank of Russia;
Moscow Exchange Committee on the primary equity market;
Expert Council on the listing of securities at SPB Exchange;
Committee on legislation and regulation in the financial market of SRO NFA.

LECAP — architects of innovative transactions

We work where creative thinking and legal precision are required

Our team specializes in legal and strategic support for projects in the capital markets, structured finance, and cross-border transactions.

We work where creative thinking and legal precision are required: from IPO deals and conventional bond loans to redomiciliations, CLN, and unique cases involving convertible instruments. We support the entire transaction lifecycle — from concept to market launch. 

Our legal opinion is recognized by leading rating agencies and banks.

Cases by practice area

All cases

01 /

IPO & PRE-IPO

2025

IPO of DOM.RF on the Moscow Exchange

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The first IPO of a development institution with state participation in Russian practice and one of the few in the world

LECAP lawyers supported the project from start to finish, including the preparation of offering documentation, legal documentation (lock-up deeds, agreements with brokers, and others), support for KYC procedures and disclosure procedures, preparation of internal policies and regulations to comply with listing criteria, as well as preparation of a long-term incentive program for employees

02 /

Securitization

2021 to present

Securitization of VTB's consumer loan portfolio

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The first securitization of a consumer loan portfolio structured entirely under Russian law

LECAP acted as legal counsel to VTB on the securitization transaction involving a consumer loan portfolio in the amount of RUB 45 billion. The amount of the secured bond issuance of SFO VTB RKS-1 was RUB 35 billion. For VTB, this is the first consumer loan securitization transaction

The transaction received the Cbonds Awards in the category “Most “retail” primary placement transaction” 2021

03 /

Convertible instruments

2025

Structured bonds with delivery of shares of PAO PROMOMED

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For the first time in Russian practice, a market instrument of convertible debt financing was structured on the basis of structured bonds issued off the balance sheet of an SFO

The LECAP ecosystem enabled the implementation of a transaction unique in structure, coordinating it with the regulator and infrastructure, and offered it to the client as a ready-to-launch market product within the shortest possible timeframe

04 /

International projects

2024-2025

Redomiciliation of Ozon Holdings PLC

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Redomiciliation as a working legal mechanism

As a result of the redomiciliation, the ADRs of Ozon Holdings PLC were converted into ordinary shares of two classes, followed by the trading of the ordinary shares on the Moscow Exchange. Class A ordinary shares confer special rights and are convertible