Image of Ben Dulieu

Ben Dulieu

Capital Markets Partner, London

“I have extensive experience in international capital markets transactions, advising on a broad range of debt and equity products for a wide variety of clients. While covering a full spectrum of deals, I have a particular interest in complex equity-linked transactions such as convertible and exchangeable bonds. I enjoy helping my clients achieve their commercial objectives, whatever their funding needs, and take pride in executing transactions swiftly, efficiently and with a minimum of fuss.”

Overview

Education and qualifications

Overview

Ben advises on a wide range of debt, equity-linked and equity issues in the international capital markets. He has particular experience in convertible and exchangeable bonds, standalone bond issues, Medium Term Note (MTN) programmes, liability management and associated listing and regulatory rules and regulations.

Ben has developed a reputation as one of the leading lawyers in the London market for complex equity-linked transactions in particular, being involved in numerous “first of a kind” fund raisings.

Ben is co-head of the firm’s Swiss desk and has particular experience in assisting Swiss corporates in accessing the international capital markets. He was seconded to the firm’s offices in Singapore (from 1998 to 2000) and in Paris (from 2000 to 2001) and has also spent time on secondment at one of the firm’s investment bank clients.

Work highlights

Ben has led on many major capital markets transactions. Highlights include advising:

  • the joint bookrunners on the issue by GN Store Nord of €225m bonds and warrants to acquire ordinary shares in GN Store Nord, the first equity-linked deal by a Danish corporate.
  • UniCredit on its issue of secured equity-linked certificates to be mandatorily settled in ordinary shares of Bank Pekao
  • Telecom Italia on the issue by Telecom Italia Finance of €1.3bn subordinated mandatory convertible bonds
  • the lead manager on the hybrid issuance by global satellite services provider SES of €750m deeply subordinated fixed rate resettable securities
  • Centrica on its issue of €750m and €450m notes due in 2076 and 2075, respectively
  • the global co-ordinators on the IPO of Seplat Petroleum, the first ever Nigerian company to be admitted to London’s main board and the first-ever London-Africa dual listing from the sub-Saharan region
  • the managers on the issue by daa finance of €400m notes guaranteed by daa (previously, the Dublin airport authority) to finance a concurrent tender offer 
  • Romania, acting through its Ministry of Public Finance, on various issues of notes under the country’s €20bn global MTN Programme

 

Education and qualifications

Ben studied jurisprudence at Wadham College, Oxford University.

He speaks English and French.