How Leading Philippine Companies are Using Bonds to Their Advantage
As the growth of the Chinese economy (and the real estate sector in particular) slows, we are seeing stress in an increasing number of issuers of offshore noninvestment-grade People’s Republic of China (PRC) bonds. It seems...more
In January 2014, Overstock.com became the first major online retailer to accept payment in bitcoin. Less than eighteen months later, Overstock is now the first company to offer qualified buyers the option of purchasing...more
New rules relax certain structural and procedural legal restrictions, helping Spanish companies access debt capital markets.
On 27 April 2015, the Spanish parliament passed Law 5/2015, of 27 April, of corporate finance...more
This may be a slightly odd question with which to start a legal blog post, but do you like burritos, wine, or chocolate? Who doesn’t, right? If only there was a way of making money off your addiction to tasty Mexican treats...more
Double First: A Ukrainian group of companies breaks ground — first by changing the governing law of its high yield bonds from US to English law and then by being the first Ukrainian-based group to restructure via an English...more
Last week, the Securities and Exchange Commission (SEC) charged more than 20 individuals and companies with violations of the Securities Exchange Act of 1934 (the Exchange Act) related to the buying and selling of...more
Following a successful bond issuance, an issuer may consider a “tap” issuance as a way to access further funding.
White & Case offers some “Tips for Taps” for issuers and underwriters in accessing the capital markets...more
Restructuring decision broadly interpreting bondholder protections under the Trust Indenture Act may significantly impact out-of-court restructurings.
On December 30, 2014, the US District Court for the Southern...more
More than two dozen senior executives, including lawyers from Latham & Watkin's Hong Kong and Singapore offices, led presentations and panel discussions at an industry conference focused on the Philippine bond market, hosted...more
The Treasury and the IRS offered two pieces of highly anticipated guidance on July 18 that are particularly relevant to the life insurance industry. ...more
The Oklahoma MLP Quarterly highlights changes in taxation, law and capital markets that affect master limited partnerships who have headquarters located in, or significant contacts with, Oklahoma. The publication is...more
In previous installments, we covered the basics of the margin regulations. In our final two installments, we’ll cover a few practice points and explore some of the more complex margin issues (particularly under Regulation U),...more
On February 21, 2014, Italy enacted Law No. 9 (the “New Law”), which, among other things:
- reduces the tax cost of taking security in connection with notes offerings;
- expands the array of security that can...more
The debt level of the PRC is rising. It is estimated that the PRC’s corporate debt could hit US$13.8 trillion in 2014, surpassing that of the United States (“U.S.”) as the largest in the world. This has raised increasing...more
In late 2013, Latham & Watkins hosted a restructuring conference, Maximizing Outcomes in Upcoming Asia Restructurings, at the Asia Society in Hong Kong. The conference featured a series of keynote speakers and panel...more
In November 2012, Barclays raised a US$3bn corporate bond with a difference. The bank issued a contingent capital note (or coco) – a bond that automatically converts into equity as soon as a bank incurs losses that reduce its...more
On December 13, 2013 the Italian Government approved Law Decree Destinazione Italia (the “Destinazione Italia Decree”), aimed at further facilitating financing transactions for Italian issuers.
The most significant...more
This Orrick law alert relates to the changes made in the Russian securities law by Federal Law No. 210-FZ dated July 23 (On Amendments to the Federal Law on the Securities Market and to Certain Russian Laws and Regulations)....more
The Italian Government has approved new rules concerning the issuance of corporate bonds and commercial paper through Law Decree no. 179 of October 18, 2012 on “Further Urgent Measures for Growth of the Country”, which was...more
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