Capital Markets

Our Capital Markets team advises the clients on the full range of equity (ECM) and debt (DCM) capital markets transactions. The team brings together lawyers with extensive experience at leading international law firms and is seamlessly integrated with our corporate, banking, sanctions and dispute resolution practices – an offering that is unparalleled in the Russian market. This integrated approach allows us to provide full-cycle transaction support, develop optimal solutions to address complex client needs across Russian and international markets, anticipate emerging trends, and deliver market-leading services.

We have significant experience in the structuring and execution of complex hybrid fundraising transactions, including acquisition finance, as well as the development of investment and governance structures based on structured and shared ownership models (including SPVs, closed-end mutual investment funds, and other investment structures).

Our team comprises Russian-qualified lawyers, solicitors qualified in England and Wales, as well as attorneys admitted to practice in the State of New York (US).

E L W I is the official legal partner of the Association of Corporate Treasurers of Russia and a member of the ICC Russia Banking Commission (incl. the Capital Markets Subcommittee).

Related expertise:

Initial and secondary public offerings (IPOs and SPOs) on Russian and international exchanges, including in the post-2022 regulatory and sanctions environment;
Establishment and maintenance of depository programs, including GDR (Global Depository Receipts) and ADR (American depositary receipts Receipts);
Pre-IPO consulting, including corporate restructuring, fundraising from strategic and financial investors, and the implementation of governance frameworks compliant with applicable stock exchange requirements;
Issuance of debt and hybrid instruments, including Eurobonds, exchange and structured bonds;
The restructuring of eurobond issuances following sanctions and other regulatory restrictions and advising on private transactions, negotiations with bondholders, and the settlement of related claims;
Complex structured products;
The rights of public companies’ minority shareholders and public debt securities’ minority holders;
Market infrastructure development, including in international financial centres of emerging markets.