DrewSalvest

Of Counsel

(T) + 44.20.7039.5115

Drew Salvest has more than 25 years of experience advising on U.S. and international capital markets transactions and is recognized for his guidance on securitizations, high yield bond issuances, convertible bonds, and other complex structured offerings. He regularly advises the originator on matters related to Europe's largest trade receivables securitization program.

Drew advises European, Central Asian, Middle Eastern, and North African sovereign, corporate, and financial institution issuers and their bankers on a broad range of debt securities and other debt products that are sold to or placed with investors and banks pursuant to U.S. SEC-registered public offerings, global offerings, commercial paper programs, Eurobond offerings, private placements, syndications, prepayments, and bilateral facilities.

Recent transactions include advising Trafigura, the global commodities trader, on its $600 million perpetual subordinated notes issue; Statnett SF, the operator of Norway's electricity grid, on its US$360 million private placement of notes; and Hansteen, the UK-based property company, on the tender for and incentivized conversion of its outstanding convertible bonds. Drew also advises Goldman Sachs on warehouse financings and other structured finance transactions.

Drew has received high rankings from legal directories such as Chambers and Legal 500 for the high quality of his legal advice and his dedication to client service.

Experience

  • Trafigura acquires majority stake in Nyrstar operating businessJones Day advised Trafigura Group Pte. Ltd. (“Trafigura”), a market leader in the global commodities industry, in connection with its acquisition of a majority stake in the operating business of Nyrstar, a multi-billion dollar global metals business.
  • Omnicom completes €1 billion Senior Notes offeringJones Day represented Omnicom Group Inc., a leading global marketing and corporate communications company, in connection with the public offering by its wholly owned U.K. finance subsidiary, Omnicom Finance Holdings plc, of €1.0 billion of Senior Notes, consisting of €500 million of 0.800% Senior Notes due 2027 and €500 million of 1.400% Senior Notes due 2031.
  • Volkswagen Bank renews auto-loan securitization programme in compliance with STS requirements under EU Securitization RegulationJones Day represented Volkswagen Bank GmbH, a subsidiary of Volkswagen AG, as originator, in connection with an auto loan securitization programme for the issuance by Driver Master S.A. (acting with respect to its Compartment 1) of up to €10 billion asset-backed floating rate Class A Notes and asset-backed floating rate Class B Notes.
  • BNP Paribas, Deutsche Bank, and Merrill Lynch complete €1.0 billion bond offering by PepsiCoJones Day represented BNP Paribas; Deutsche Bank AG, London Branch; and Merrill Lynch International, as representatives of the several underwriters, in connection with the public offering by PepsiCo, Inc., a world leader in convenient snacks, foods, and beverages, of €1.0 billion of Senior Notes, consisting of €500.0 million of 0.750% Senior Notes due 2027 and €500.0 million of 1.125% Senior Notes due 2031.
  • TransDigm Group completes offering of $550 million Senior Subordinated NotesJones Day represented TransDigm Group Incorporated, a leading global designer, producer, and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm Inc., its wholly-owned subsidiary, of $550 million aggregate principal amount of 7.50% Senior Subordinated Notes due 2027.
  • TransDigm Group issues $4.0 billion of Senior Secured NotesJones Day represented TransDigm Group Incorporated, a leading global designer, producer, and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm Inc., its wholly-owned subsidiary, of $4.0 billion combined aggregate principal amount of 6.25% Senior Secured Notes due 2026, which consist of $3.8 billion aggregate principal amount of 6.25% Senior Secured Notes due 2026 and $200 million aggregate principal amount of 6.25% Senior Secured Notes due 2026.
  • Eastman Chemical completes $800 million notes offering, concurrent cash tender offer, and notes redemptionsJones Day represented Eastman Chemical Company, a global chemical company that manufactures and sells a broad portfolio of chemicals, plastics, and fibers, in connection with an $800 million underwritten public offering, consisting of a $300 million offering of 3.500% Notes due 2021 and a $500 million offering of 4.500% Notes due 2028.
  • Trafigura Funding issues $140 million Senior Guaranteed NotesJones Day represented Trafigura Funding S.A., a subsidiary of Trafigura Group Pte. Ltd., a market leader in the global commodities industry, in its private placement of US$140 million of Senior Guaranteed Notes to institutional investors.
  • TransDigm Group completes offering of $500 million Senior Subordinated Notes by its UK subsidiaryJones Day represented TransDigm Group Incorporated, a leading global designer, producer and supplier of highly engineered aircraft components, in connection with the Rule 144A and Regulation S offering by TransDigm UK Holdings plc, a wholly-owned subsidiary of TransDigm Inc., which is a wholly-owned subsidiary of TransDigm Group, of 6.875% Senior Subordinated Notes due 2026 in an aggregate principal amount of $500 million.
  • Spanish construction and services company Sacyr and Marguerite Fund refinance one of its Spanish road infrastructure assetsJones Day provided legal advice to Sacyr, Valoriza Conservación de Infraestructuras and Marguerite Silver in connection with the refinancing, through a bond issuance listed in Frankfurt, of the Arlanzón highway project located in Spain.
  • WIND Hellas Telecommunications issues €95 million of additional Senior Secured NotesJones Day advised WIND Hellas Telecommunications S.A. on its offering of €95 million of additional 10.000% Senior Secured Notes due 2021 to be listed on The International Stock Exchange.
  • Artemis Securitisation to acquire portfolio of non-performing loans from Attica BankJones Day is representing Artemis Securitisation S.A., an entity established by Achilles Trust, in connection with its acquisition of a portfolio of non-performing loans from Attica Bank S.A., with an outstanding balance of approximately €1.3 billion (US$1.5 billion), together with the securitization of the portfolio and issuance of a junior and senior note to Attica Bank S.A. Management of the non-performing loan portfolio has been assigned to Thea Artemis.
  • Trafigura issues $500 million asset-backed notes on Irish Stock ExchangeJones Day advised Trafigura Group Pte. Ltd., a market leader in the global commodities industry, in connection with the issuance and placement of $500 million of asset-backed notes issued by Trafigura Securitisation Finance PLC in a Rule 144A and Regulation S offering and listed on the Irish Stock Exchange.
  • CreditAccess Asia completes complex €95.4 million (US$102.8 million) multi-investor investment roundJones Day advised CreditAccess Asia, a micro-finance institution active primarily in India and SEA, on a complex €95.4 million (US$102.8 million) multi-investor investment round, involving (a) the conversion of outstanding bonds into equity; (b) the investment by Asian Development Bank, an international development bank; (c) the conversion of bonds held by a private equity fund Olympus Capital Asia; and (d) a further investment round by new investors.
  • Trafigura issues $600 million Perpetual Resettable Step-up Subordinated Securities on Singapore Stock ExchangeJones Day advised Trafigura Group Pte. Ltd., a market leader in the global commodities industry, in connection with its offering of $600 million of 6.875% Perpetual Resettable Step-up Subordinated Securities on the Singapore Stock Exchange.
  • Parker Hannifin completes $2 billion private offerings of Senior NotesJones Day represented Parker Hannifin Corporation, a global leader in motion and control technologies, engineering innovative products and systems, in connection with its $2 billion private offerings of Senior Notes.
  • Wafra Capital Partners invests in Maritime Asset PartnersJones Day advised Wafra Capital Partners, Inc. regarding its investment in Maritime Asset Partners S.à r.l., a joint venture with Nergaard Investment Partners, Landmark Holdings Company, Arne Blystad, Nicholas Roos, and ASL.
  • Newell Brands completes €271 million exchange offer and $295 million exchange offerJones Day advised Newell Brands Inc. in connection with its offers to exchange up to €271 million aggregate principal amount of 3¾% Senior Notes due 2021 for an equal principal amount of 3¾% Senior Notes due 2021 under the Securities Act of 1933 and $295 million aggregate principal amount of 5% Senior Notes due 2023 for an equal principal amount of 5% Senior Notes due 2023 under the Securities Act.
  • Flowers Foods completes $400 million public offering of Senior NotesJones Day represented Flowers Foods, Inc., a leading producer and marketer of fresh packaged bakery foods, in connection with its public offering of $400 million aggregate principal amount of 3.500% Senior Notes due 2026.
  • Statnett completes $360 million private placement of Senior NotesJones Day advised Statnett SF, the state-owned Norwegian electricity transmission system operator, in connection with its private placement of $360 million of 2.79% Senior Notes due September 2031.
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