October 26, 2020

Three Ogier teams advise on biggest UK IPO since Brexit vote

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richard-daggett-hiresOgier’s offices in Jersey, and Cayman have assisted Biffa, a UK leading integrated waste management company, with its recent listing on the Main Market of the London Stock Exchange, including a refinancing and pre- restructuring.

The initial public offering resulted in total gross proceeds of around £262 million, making it the UK’s biggest IPO since the Brexit vote.

Richard Daggett in Ogier’s Jersey office acted as lead partner and was assisted by Alan Stirling and Amy Garrod.  The Guernsey team was led by Bryon Rees supported by Michelle Watson Bunn and the Cayman team was led by partner Angus Davison with assistance from Mark Santangeli and Tommy Tuohy.

Linklaters acted as lead advisers to Biffa plc.

In conjunction with the IPO, Ogier’s banking and finance team comprising Daniel Richards, Marcus Leese, James Heinicke, Michael Evans, Paul Chanter, Tiny Musesengwa and James Lydeard advised the lending banks on Jersey, Guernsey and Cayman law in relation to a refinancing of Biffa’s debt, with Clifford Chance acting as lead advisers.

Richard said: “We are delighted to have worked with Biffa on their successful listing, which is especially pleasing at a time of low activity in equity capital markets following June’s referendum.

“It was also an opportunity to showcase our cross-jurisdictional expertise, with teams in Jersey, Guernsey and Cayman providing time critical advice in a co-ordinated manner, which was essential in the lead up to the float and refinancing.

“Hopefully this listing opens up an exciting new chapter in Biffa’s 100 year plus history.”

About Ogier

 Ogier provides advice on the British Virgin Islands, the Cayman Islands, Guernsey, Jersey and Luxembourg law through our network of offices that also includes Hong Kong, Shanghai and Tokyo. We are the only law firm to advise on these five laws.

We get straight to the point, managing complexity to get to the essentials. It is a collaborative approach. We listen actively, asking the right questions, focused on what really matters. We deliver targeted, pragmatic advice with absolute clarity.

We regularly win awards for the quality of our client service, our work and our people.

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