Legal DealFolio - Sea Trucks Group Convertible Bond

Allen & Overy has advised sole bookrunner Barclays Capital on a rare pre-IPO convertible bond by Nigerian based company Sea Trucks Group, to raise USD200 million. The four-year guaranteed convertible bond priced in the market on 25 January, in preparation for the company's public listing within 12-24 months. Sea Trucks Group is an international group of companies offering marine support services to the offshore oil and gas industry worldwide. Capital markets partner Jonathan Mellor and shipping finance partner David Smith led on the deal. They were assisted by counsel Tim Elliott, senior associate James Taylor, associates Mae Shaan Teo , Stephanie Dee and May Chiu. Partners Max Aaron, associate Kari Erickson and senior associate Alex Stathopolous provided US law advice. Jonathan Mellor commented: "We are delighted to have been involved in this ground breaking transaction which played to our strengths in equity linked capital markets and shipping finance." David Smith commented: "The oilfield services sector has been recovering after the 2008 free-fall in the price of crude oil. At a time when bank lending is harder to obtain, we expect more companies in the shipping and oilfield services industry to rely on debt capital markets as a funding tool."

Deal Date:	02-02-2011	Practice Area:	Debt Capital Markets
Deal Title:	Sea Trucks Group Convertible Bond	Industry:	Industrial Transportation
Description:	Allen & Overy has advised sole bookrunner Barclays Capital on a rare pre-IPO convertible bond by Nigerian based company Sea Trucks Group, to raise USD200 million. The four-year guaranteed convertible bond priced in the market on 25 January, in preparation for the company's public listing within 12-24 months. Sea Trucks Group is an international group of companies offering marine support services to the offshore oil and gas industry worldwide. Capital markets partner Jonathan Mellor and shipping finance partner David Smith led on the deal. They were assisted by counsel Tim Elliott, senior associate James Taylor, associates Mae Shaan Teo , Stephanie Dee and May Chiu. Partners Max Aaron, associate Kari Erickson and senior associate Alex Stathopolous provided US law advice. Jonathan Mellor commented: "We are delighted to have been involved in this ground breaking transaction which played to our strengths in equity linked capital markets and shipping finance." David Smith commented: "The oilfield services sector has been recovering after the 2008 free-fall in the price of crude oil. At a time when bank lending is harder to obtain, we expect more companies in the shipping and oilfield services industry to rely on debt capital markets as a funding tool."
Financial Center:	London	Value:	0.00-100.00
Advised Party:	Lead Manager	Law Firm	Allen & Overy
Issuer Jurisdiction:	Nigeria	Listing Jurisdiction:	United Kingdom
Classification:	Equity-Linked Securities Convertible Bonds	Lawyer	Jonathan Mellor

Practice Areas -

Debt Capital Markets Law Firms and Lawyers

Practice Areas - Debt Capital Markets Law Firms and Lawyers