On 15 August 2023, an issue of BCS structural bonds was successfully placed on the MICEX. Legal support for the transaction was provided by EPAM.
The decisions formulated within the framework of the transaction made it possible to determine a significant number of conditions immediately before the start of the placement of structural bonds. The documentation prepared during the transaction provided an opportunity for:
- placement of structured bonds, the amount of payments for which is “tied” to a security included in a predetermined basket of securities (in this case, one of the procedures for selecting a specific security from the basket of securities provided for by the issuing documentation was used);
- placement of bonds, the amount of payments for which is "tied" to a specific security, determined before the start of the placement of structural bonds.
Innovative approaches developed by EPAM lawyers together with the BCS financial group will be used to implement a series of similar transactions in the future.
The project was led by Senior Associate Vladimir Goglachev and Associate Dmitry Kabanov under the guidance of Partner and Head of Banking and Financial Law, Capital Markets Dmitry Glazounov.