Andrew Shutter’s practice focuses on the origination and restructuring of international debt and equity financing transactions.

He represents corporates, sovereigns, funds and financial institutions, as debtors or creditors in the origination and restructuring of complex financial transactions including leveraged and high-grade syndicated loans, high-yield and investment grade bonds, derivatives and securitization transactions. Andrew also has experience in mergers and acquisitions, joint ventures and strategic investments.

Andrew joined the firm in 1997 and became a partner in 2001. Prior to joining Cleary, he worked in the Madrid and London offices of Clifford Chance.

Notable Experience

Debt Origination

  • The Hellenic Republic in a €3 billion new notes offering and switch and tender offer

  • Loxam SA in its €795 million syndicated bridge loan and high yield bond take-out for its contested bid for Lavendon plc

  • ArcelorMittal in its $5.5 billion revolving credit facility

  • TPG Capital, together with other funds, on the acquisition financing of Media Broadcast from TDF of France. The transaction was financed with a €175 million term loan B and revolving credit facility

  • TPG in the £155 million financing for the acquisition of Prezzo plc, a branded UK restaurant operator listed on the Alternative Investment market of the London Stock Exchange

  • Servihabitat, the Spanish real estate serving platform in its LBO financing and subsequent refinancings

  • Hellenic Republic in its €3 billion notes offering, Greece’s first syndicated offering in the bond markets since March 2010

  • TES Finance PLC in its debut £300 million high yield bond offering

  • Greece in its €7.16 billion bridge loan from the European Union under the European Financial Stabilisation Mechanism

  • Citigroup, Morgan Stanley, Goldman Sachs International and Erste Group as initial purchasers in a €275 million Reg S/Rule 144A senior notes offering by New World Resources N.V., a leading hard coal producer in Central Europe

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Restructuring

  • Hyundai Merchant Marine Co., Ltd. (HMM) in the restructuring of its bulk and container ship leases

  • Hellenic Financial Stability Fund in the recapitalization of the four systematically important Greek banks

  • Celsa (UK) Holdings affiliates in Poland in a scheme of arrangement to restructure their loan facilities

  • The Hellenic Republic in its €206 billion private sector debt restructuring – the largest-ever debt restructuring, and subsequently in its loan agreement with the European Financial Stability Facility (EFSF) which involved debt facilities in excess of €150 billion

  • Truvo, the European yellow pages business, in its €1.5 billion global restructuring

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SELECTED ACTIVITIES

  • Sovereign Debt Column – Global Restructuring Review
  • Consultant Editor, A Practitioner’s Guide to Syndicated Lending (First Edition, Sweet & Maxwell 2010)

Publications