The founding of bondholders' representative LCPIS, which subsequently became the largest BHR (Bondholders' Representative) in the market, expanded capabilities in providing specialized financial and legal services.

LECAP's team expertly implemented a consideration payment mechanism in the restructuring of PJSC "Mechel" bonds (Series 13-14), enabling the company to avoid cross-default on other issuances and exchange trading restrictions. Recognized as "Restructuring of the Year - Mechel 13" at Cbonds Awards 2015

LECAP's coordinated work on PJSC "Mechel" bonds (Series 17-19) delivered an innovative solution in debt financing, preventing default through executed novation agreements.

LECAP advised on PJSC "GEOTEK Seismic Exploration" bond restructuring (Series 01), marking Russia's first inclusion of guarantee provisions into an existing bond issue. Recognized as "Restructuring of the Year" at Cbonds Awards 2016.

LECAP counseled OJSC "Tele2 - St. Petersburg" on the groundbreaking reissuance of Series 04 and 05 bonds. This marked Russia's first modification of coupon rates for fully repurchased bonds, enabling full resale to investors.

LECAP executed multiple structured bond issuances for corporate clients utilizing foreign collateral mechanisms, also advising on targeted credit ratings.

LECAP acted as legal consultant for PJSC "GLOBALTRACK MANAGEMENT" IPO on Moscow Exchange totaling RUB 3.5 billion.

LECAP structured and provided full legal support for securitization of service contract receivables under long-term agreement with LLC "TMH-Service" (Originator). This transaction became Russia's first securitization case (using Russian SPV as issuer) where receivables under single contract served as underlying asset.

LECAP advised on debut bond issuance of LLC "KTZ Finance" (SPV of Kazakhstan's JSC "NC "KTZ"), establishing Russian market as new debt capital platform for CIS issuers. First transaction with parallel placement of Russian corporate bonds in two jurisdictions, previously such deals were executed only for equities. "Best Foreign Issuer Deal" – Cbonds Awards 2017.

LECAP advised on securitization of monetary claim portfolios across various loan types (consumer loans, auto loans, mortgages etc.), including delinquent loans, addressing growing demand for innovative NPL management solutions.

LECAP participated in developing legal framework for structured bonds, including drafting the Law on Structured Bonds and coordinating new approaches to simplify/accelerate their issuance.

LECAP advised LLC "Eurotorg" (Belarus) on preparation and placement of debut bond issue. Transaction structured using Russian SPV, marking first placement of private Belarusian company on Russian market. "Debut of the Year", Cbonds Awards 2019.

LECAP pioneered new legislative approaches to debt instrument structuring, executing first Russian structured bond issuances for BCS, VTB Group, Sberbank in various currencies, including:

• Russia's first FTD bonds (payments linked to credit risk of major Russian corporations)
• First autocallable bonds (underlying assets: shares/DRs of leading Russian issuers)
• First capital-unprotected structured bonds

LECAP advised on VTB's securitization of consumer loan portfolio – VTB's first consumer loan securitization and country's first such transaction fully structured under Russian law. "Most Retail-Friendly Primary Placement Deal", Cbonds Awards 2021.

LECAP acted as Russian law counsel for Softline's IPO on London Stock Exchange and Moscow Exchange. "Best Cross-Border Listing", PREQVECA IPO Awards 2022.

IPO of PJSC "Segezha Group", leading Russian timber industry holding, on Moscow Exchange for RUB 30 billion. "Best Domestic Market Listing", PREQVECA IPO Awards 2022.

LECAP advised on direct listing of shares of PJSC "Positive Group" on Moscow Exchange. Listing secured despite one group company being included in OFAC SDN List. Subsequently advised on SPO.

LECAP advised on debut bond issuance of JSC NC "Prodcorporation" (Kazakhstan) on Russian market. First "direct" placement by Kazakh corporate issuer in Russia; previously executed via Russian SPV bonds with collateral.

FOCUS Management joined LECAP ecosystem, strengthening asset management and financial advisory capabilities.

During 2022-2024, LECAP provided services to investors on 40+ Eurobond issues from 10+ issuers, including:

• Amendments to existing Eurobond terms
• Placement of replacement bonds due to restrictive measures
• Development of payment receipt mechanisms through Russian infrastructure

LECAP provided legal support for redomiciliation of VK Group's parent company from BVI to Oktyabrsky Island (Russia). Secured Bank of Russia registration for:

• Ordinary shares
• Class A shares (25 votes per share) – Russia's first registration of "multi-vote shares" for international companies.

LECAP acted as legal consultant for registration of "Russian" DR prospectus for CIAN to maintain Moscow Exchange listing after NYSE delisting. Also advised other issuers on foreign exchange delisting and primary listing in RF.

LECAP advised MTS on terminating GDR program and organizing conversion to shares. Also advised other issuers on DR program termination, share transfers for Russian trading, and payment receipt mechanisms.

NPK "OVK" conducted mass OTC placement of shares to retail investors, managing high volatility and speculative demand with LECAP's legal support..

For DPO CarMoney transaction, LECAP developed and implemented unique legal structure: share sale via direct listing model followed by capital contribution to PJSC "STG" (cash-in). Also drafted and coordinated with Moscow Exchange Russia's first lock-up agreement.

PPK "RÉO" implemented novel legal mechanism enabling non-structured bond redemption through asset delivery – first in Russian practice – with LECAP's support.

LECAP provides comprehensive legal support for share issuances: prospectus drafting; legal documentation (lock-up deeds, broker agreements); KYC procedures; disclosure management; listing compliance frameworks; media guidelines; analyst coordination.
PJSC "Sovcombank" – "IPO of the Year", Russia IPO Awards 2024..
PJSC "MTS-Bank" – "IPO of the Year", Russia IPO Awards 2025.

LECAP acted as legal counsel for PJSC "PROMOMED" IPO during extreme market volatility with significant retail investor interest in pre-emptive rights. Prepared company for IPO over three years: corporate restructuring; governance design; positioning strategy; financial modeling; full IPO support. Innovative approaches delivered highest company valuation in the deal.

LECAP participated in creating Russia's first IPO standards list with Moscow Exchange. Submitted proposals to MOEX and Bank of Russia for improving regulation in: allocation procedures; disclosure requirements; management incentive programs; lock-up documentation; pre-IPO financing.

LECAP prepared documentation for registering Russia's first actively managed index bonds, introducing new asset class.

LECAP provided comprehensive support to Moscow Venture Fund for pre-IPO financing deals involving JSCs and LLCs raising capital for pre-IPO rounds.

LECAP participated in developing current regulation for balance-sheet convertible bonds. Structures convertible instruments for pre-IPO projects; executed first public placement of off-balance sheet convertibles to retail investors.

LECAP fully structured and executed issuance of structured bonds tied to issuer's shareholder value growth, serving as corporate financing mechanism with scenario variability based on market dynamics.

Advised on major M&A transactions with public companies – e.g., legal counsel for PSB Bank's entry into PJSC "STG" (CarMoney fintech service). Regularly advises on M&A deals involving pre-IPO companies.

LECAP acted as restructuring agent and advisor for "Commercial Real Estate" FPK "Garant-Invest" Series 002P-06 and 002P-10. Transaction introduced:

• Investor participation in equity upside without principal haircut (first in Russia, differing from Western practices)
• Remote investor voting system at bondholders' meetings.