Simmons & Simmons advises on €500m Note Issuance by ELM B.V.
12 Apr 2017
International law firm Simmons & Simmons has advised BNP Paribas, Credit Suisse, Deutsche Bank and UBS as joint lead managers and Raiffeisen Switzerland as co-lead manager on an issuance of €500m Notes due 2047 by ELM B.V. which are secured over €500m Dated Subordinated Notes due 2047 of Helvetia Schweizerische Versicherungsgesellschaft AG, which are guaranteed on a subordinated basis by Helvetia Holding AG.
Commenting on the transaction, Piers Summerfield,
said: “We are delighted to have advised the managers on Helvetia’s very successful subordinated note issuance. This transaction has really played to the strengths of our capital markets practice, including our regulatory capital and repackaging expertise.”
The Simmons & Simmons team was led by capital markets partners David Roylance and Piers Summerfield, managing associates Eucharia Bragg and Tony Geffin and supervising associate Anna Burns. Dutch law advice was provided by partners René van Eldonk and Marieke Driessen.