Bonds and Structured Products
We structure debt products that serve the strategic goals of your business. We help you choose the format: private placement or exchange-traded, program or stand-alone issuance, secured or unsecured. We develop yield calculation formulas
A well-established infrastructure with our own management company and PVO, and the availability of ready-made shelf solutions
Structuring control over a holding company through SPVs and structured bonds
Implementation of trading strategies based on our own infrastructure, including index investments
Support for the largest structured products “factories”
Structured bonds linked to the growth in the issuer's equity value
Convertible, subordinated and infrastructure securities
Development of yield calculation formulas using derivative elements
Participation in the formation of the Russian bond market
We structure debt products that serve the strategic goals of your business

Innovative practice

Extensive experience in transaction support, close work with market participants, and deep immersion in client needs allow us to understand market demands and create new products needed by the industry. Established documentation preparation workflows, ready-made infrastructure solutions, and our own technological developments help us reduce project implementation timelines.

Business-oriented lawyers

We advise both large companies with a long public history and companies entering the public market for the first time. For the latter, we help choose the format and, more generally, formulate the concept of entering the securities market based on the needs and specifics of the business objectives. We develop the issuance structure, yield formulas, and all required documentation.

Unique expertise in supporting bond issuances by foreign issuers (EBRD, IFC, KTZ and others)
Our work has been recognized with awards and rankings
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Number of issuers in 2025
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Number of registration actions at the Bank of Russia in 2025
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RUB billion total volume of registered issuances in 2025
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issuances throughout the entire period of operations
Recognition and achievements
Best Legal Adviser in the structured products market, Structured Finance Leaders Award, Expert RA 2026
Best Law Firm in the bond market, Cbonds Awards 2012-2025 - 14 years in a row
Industry recognition
Our clients' testimonials
Cases in bonds and structured products
All cases
01 /
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
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Bonds and Structured Products
2023 to present
Bond Program with Security Interest of PPK REO
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For the first time in Russian practice, a mechanism for the repayment of non-structural bonds through the transfer of monetary claims was structured
Within the framework of the program, 8 bond issues with an aggregate nominal value of RUB 58 billion were placed. The current REO bond issue became the first to be formally verified as “green.” Compliance with the principles of green bonds was confirmed by Expert RA
Advised on the first green bond issue
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International Projects
2023 to present
Eurobond Issuances
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LECAP fully replaced the foreign infrastructure and provided services in the interests of investors in relation to 18 eurobond issuances of more than 9 borrowers
The bondholder representative LCPIS acted in the interests of Russian and foreign investors, in particular, performing the functions of information and tabulation agent in connection with the consent solicitation procedure for eurobond holders
We prepare research in the fields of civil law and capital markets in our Telegram channel
We share knowledge with the community and make research papers easier to understand