Linda A.Hesse

Partner

Paris + 33.1.56.59.38.72

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Linda Hesse advises clients in the areas of capital markets, securities law, public M&A, and corporate governance under both U.S. and French law. She acts for issuers with respect to their issuances of debt and equity securities; listings on Euronext, Nasdaq, and the NYSE; and on regulatory matters involving the SEC and the French Financial Markets Authority (AMF). Linda also advises financial institutions as advisors in offerings of equity, debt, and complex instruments. Her practice includes advising on environmental, social, and governance (ESG) matters, including sustainable finance transactions, green frameworks, ESG disclosures, and risk assessments.

Notable issuer clients include Orange for ongoing securities compliance, debt and equity offerings, and M&A; Sanofi on its ongoing SEC compliance and U.S. shelf program, including its $7 billion Yankee bond offering in connection with its Genzyme acquisition; and EDAP TMS on ongoing securities compliance and equity offerings.

Investment bank clients include BNP Paribas, Crédit Agricole CIB, Natixis, and SVB Leerink. Notable underwriter engagements include representing the underwriters on Genfit's Nasdaq IPO (with respect to French law), Medincell's IPO on Euronext Paris, and Sequans' NYSE IPO.

Linda also advises companies on cross-border public M&A transactions, including Panalpina on its acquisition by DSV; Stallergenes Greer in connection with the take-private transaction by Waypoint; Kildare Partners on its acquisition of Technopolis Plc; Safran on its acquisition of Zodiac Aerospace; Total on its investment in Clean Energy Fuels; and Orange on the Jazztel acquisition.

Linda is a member of the International Bar Association and active in the Securities Law Committee.

Experience

  • Orange and Masmovil combine in €18.6 billion mergerJones Day advised Orange, S.A. ("Orange"), one of the world's leading telecommunications operators, on the combination of their telecom business in Spain with Masmovil, one of the leading telecommunications operators in Spain, for an enterprise value of €18.6 billion (€7.8 billion for Orange Spain and €10.9 billion for Masmovil).
  • Waga Energy raises €52 million in accelerated bookbuilding offeringJones Day advised Waga Energy, an independent producer of renewable biomethane (RNG) from landfill gas with operations in Europe and North America, on its €52 million accelerated bookbuilding private placement.
  • Natixis and Morgan Stanley Europe enter into derivatives forward transactions with ENGIE S.A. and ENGIE Group Participations S.A. and complete their hedging by way of private placement of €273 million of Gaztransport & Technigaz S.A.’s Ordinary SharesJones Day represented Natixis S.A. and Morgan Stanley Europe SE, acting as hedging banks in the derivatives transactions and joint global coordinators in the private placement, in connection with derivatives forward transactions with ENGIE S.A. and ENGIE Group Participations S.A. over Ordinary Shares of Gaztransport & Technigaz S.A. and the private placement executed through an accelerated bookbuild offering of approximately €273 million of Gaztransport & Technigaz S.A.'s Ordinary Shares, as part of the hedging bank’s hedge of their commitment under the derivatives forward transactions.
  • Financial institutions complete benchmark €5 billion 3.50% OLO by Kingdom of BelgiumJones Day assisted the financial institutions in connection with the issuance of a 30-year benchmark €5 billion 3.50% OLO (the “OLO 101”) by the Kingdom of Belgium.
  • Financial institutions complete benchmark €7 billion 2.85% OLO by Kingdom of BelgiumJones Day assisted the financial institutions in connection with the issuance of a 10-year benchmark €7 billion 2.850% OLO (the “OLO 100”) by the Kingdom of Belgium.
  • Amadeus FiRe completes buyback tender offerJones Day advised Amadeus FiRe AG in connection with a public fixed price share buyback tender offer to its shareholders for acquiring own shares; the company, a German specialized personnel service provider, is listed on the Frankfurt Stock Exchange (Prime Standard).
  • Sega acquires Rovio EntertainmentJones Day advised Sega Corporation with the international aspects of the acquisition of Finland’s Rovio Entertainment (the creators of 'Angry Birds').
  • BNP Paribas, Bryan Garnier, and Natixis complete €141 million capital increase of CarbiosJones Day advised BNP Paribas, Bryan Garnier, and Natixis in connection with the €141 million capital increase with shareholders' preferential subscription rights of Carbios, a biotech company specialized in the development and industrialization of biological technologies used for plastic and textiles recycling.
  • TotalEnergies completes PIPE investment in NextDecade Corporation and investment in $18.5 billion Rio Grande LNG ProjectJones Day represented TotalEnergies in connection with its PIPE investment in NextDecade Corporation and investment in the Rio Grande LNG (RGLNG) Project, a planned natural gas liquefaction project in South Texas.
  • Financial institutions complete benchmark €4 billion 3.45% OLO by Kingdom of BelgiumJones Day assisted the financial institutions in connection with the issuance of a 20-year benchmark €4 billion 3.45% OLO (the “OLO 99”) by the Kingdom of Belgium.
  • Forsee Power completes €50 million capital increaseJones Day advised Forsee Power, a French company listed on the regulated market of Euronext Paris which specializes in the design, manufacture, and marketing of intelligent battery systems for the electromobility market, in its capital increase without shareholders’ preferential subscription rights but with priority subscription period for an amount of approximately €50 million.
  • Financial institutions complete benchmark €5 billion OLO by Kingdom of BelgiumJones Day assisted the financial institutions in connection with the issuance of a 30-year benchmark €5 billion 3.30% OLO (the “OLO 98”) by the Kingdom of Belgium.
  • Financial institutions complete benchmark €7 billion OLO by Kingdom of BelgiumJones Day assisted the financial institutions in connection with the issuance of a 10-year benchmark €7 billion 3.00% OLO (the “OLO 97”) by the Kingdom of Belgium.
  • CARMAT completes €31.1 million share capital increaseJones Day represented CARMAT SA, the designer and developer of the world's most advanced total artificial heart, aiming to provide a therapeutic alternative to people suffering from end-stage biventricular heart failure, with its €31.1 million share capital increase, of which €27.2 million is aimed at specialized investors and €3.9 million for individuals (via the PrimaryBid platform).
  • Voltalia completes €490 million capital increase with shareholders' preferential subscription rightsJones Day advised Voltalia S.A. in the €490 million capital increase with shareholders’ preferential subscription rights on the regulated market of Euronext in Paris.
  • NextStage Evergreen initiates alternative tender and exchange offer for NextStage sharesJones Day advised NextStage EverGreen and NextStage, a listed company specializing in development capital financing and support for medium-sized companies, in the context of the alternative takeover bid and exchange for the shares of NextStage SCA, initiated by NextStage Green, an unlisted company created for the purposes of the transaction.
  • EDAP completes follow-on public offering of American Depositary SharesJones Day represented EDAP TMS, a global leader in robotic energy-based therapies, in connection with its follow-on public offering of 3,066,667 American Depositary Shares (ADSs) on the Nasdaq Global Market.
  • Financial institutions complete benchmark €4.5 billion Green OLO by Kingdom of BelgiumJones Day assisted the financial institutions in connection with the issuance of a benchmark €4.5 billion 2.75% Green OLO due April 2039 (the “OLO 96”) by the Kingdom of Belgium.
  • Voltalia issues additional green bondsJones Day advised Voltalia in its offering of additional green bonds convertible into new shares and/or exchangeable for existing shares (OCEANEs Vertes) due 2025 (the “New Bonds”) for a nominal amount of approximately €50 million (the “Offering”) fully fungible with the OCEANEs Vertes issued in January 2021 for a total nominal amount of approximately €200 million due on January 13, 2025, (the “Existing Bonds”).
  • Bryan Garnier & Co Limited, Natixis, and Portzamparc complete up to €124 million IPO of Lhyfe on EuronextJones Day represented Bryan Garnier & Co Limited, Natixis, and Portzamparc (BNP Paribas Group), as joint lead managers and joint bookrunners, in connection with the up to €124 million initial public offering of Lhyfe on the regulated market of Euronext in Paris.
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    March 2024 Alert

    Third Time's a Charm: EU Moves to Approve the Sustainability Due Diligence Directive

    December 2023 Alert

    The EU Green Bonds Regulation Is (Almost) Live

    January 17 - December 12, 2023 Firm Hosted

    Public Company Speaker Series

    November 2023 Commentary

    Adoption of Final Version of European Green Bond Standard: A New Landmark Tool for Sustainable Finance

    October 2023 Commentary

    SEC Adopts Amendments to the Beneficial Ownership Rules

    September 2023 White Paper

    Who, What, When: The Impact of the EU CSRD on Non-EU Companies

    September 2023 White Paper

    From Aspiration to Execution—ESG Legal Risks in the UK Real Estate Sector

    November 2022 Alert

    The European Parliament Adopts New Sustainability Reporting Rules

    August 2022 Commentary

    Extraterritorial Reach of Upcoming European ESG Rules

    August 2022 Commentary

    SEC Adopts Mandatory Electronic Filing for Form 144
    View All

    Speaking Engagements

    • June 2, 2020
      COVID-19-Related Transparency and Insider Trading Discussion – A Global Perspective
    • September 12, 2019
      Sustainable Economy: A Global View
    • 15 novembre 2017
      Biotech/Medtech, comment se financer aux États-Unis?
    • November 15, 2017
      Biotech/Medtech, how to raise funds in United States?
    • October 23, 2017
      Seminar for Listed Companies: What You Need to Know About Recent Legal Developments
    • 17 octobre 2017
      Enquêtes internes vs. Enquêtes judiciaires : les liaisons dangereuses ?
    • September 13, 2017
      ECM Round Table: Market Trends and Landmark Deals 2017, Organized by the Magazine des Affaires, Paris
    • 13 septembre 2017
      Table ronde Equity Capital Markets (ECM) : Tendances et opérations emblématiques 2017 – Organisée par le Magazine des Affaires, Paris
    • 20 avril 2017
      Finale de la 3ème édition du Prix Jones Day/ESSEC/Paris II
    • November 9, 2016
      Jones Day Global Life Sciences Conference – 2016 Issues & Trends
    • 7 janvier 2015
      U.S. IPOs : How and Why
    • 13 novembre 2014
      The ABA's 15th Annual "Live from the SEC"
    • October 6, 2014
      BioM-Forum: IPO in the US - a reality
    • 22 septembre 2014
      4ème Dîner-Débat "HEC au Féminin"
    • February 14, 2013
      European Banking – On the Road to Union and Harmonization?
    • Jeudi 17 janvier 2013
      Introduction en bourse aux Etats-Unis et le JOBS Act : enjeux et problématiques
    • September 20, 2012
      SME Financing: legal news and market trends – in collaboration with NYSE Euronext and Société Générale
    • 20 septembre 2012
      Le financement des PME: actualités juridiques et tendances de marché - en partenariat avec NYSE Euronext et Société Générale
    • June 30, 2011
      Managing Your Risk - Bribery, Corruption and Business Ethics
    • 23 mai 2011
      Les femmes et le private equity : les nouvelles frontières de la région Moyen-Orient/Afrique du Nord, Séminaire organisé par Venture Catalyst Private Equity Partners avec le soutien de MENA-OCDE Women’s Business Forum, du MENA-OCDE Investment Programme, du Département d’Etat et du Département du Commerce des Etats-Unis
    • May 23, 2011
      Women in Private Equity: New Frontiers for the MENA Region
    • 2 mai 2011
      S’informer et échanger pour mieux administrer - Dîner-débat organisé par HEC au Féminin
    • May 2011
      Managing your Risk - Bribery, Corruption and Business Ethics
    • 27 janvier 2011
      Opérations de Spin-off - enjeux et modalités juridiques : La mise en oeuvre des opérations de spin-off, 2ème volet
    • 9 décembre 2010
      Opérations de Spin-off - enjeux et modalités juridiques : Enjeux réglementaires et opportunités, 1er volet
    • 4 juillet 2007
      Les prises de contrôle rampantes, Association des Juristes de Sciences Po
    • July 4, 2007
      Les prises de contrôle rampantes, Association des Juristes de Sciences Po
    • 3 avril 2007
      Introductions en bourse : feuille de route pratique

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