Chrishan Raja
Partner
Law360
Rising Star, 2025
Financial News
Rising Star of European Finance, 2025
Legal 500 UK
“Chrishan Raja has stepped up as a more recent partner and is clearly another demonstration of the commitment to deliver that is within the Cleary culture.”
Legal 500 UK
“Chrishan Raja is extremely diligent and has exceptional delivery.”
Chrishan Raja’s practice focuses on international capital markets transactions, with a UK or U.S. nexus. He advises on equity (London, EU and U.S. listings), debt (both investment-grade and high-yield) and equity-linked securities offerings, as well as restructuring matters.
Chrishan is one of few capital markets partners in the UK who is able to advise on UK/European and U.S. securities law matters across products.
Chrishan has been recognised by leading legal publications for his work on both equity and debt capital markets transactions:
- Next Generation Partner for Debt Capital Markets by the Legal 500 (2026); while still an associate, he was named as a Rising Star for Equity Capital Markets (Mid-Large Cap) by the same directory in 2022.
- Listed as one of Financial News’ 2025 Rising Stars of European Finance, a set of leading individuals under the age of 40 from across Europe working in investment banking, law, trading and other financial services.
- Selected as one of Law360’s Rising Stars of 2025, a global list of 150 leading lawyers under the age of 40. Chrishan was one of only five capital markets lawyers included, and the only one based outside the United States. Following his inclusion in this list, Chrishan was interviewed about his career and journey at Cleary – see Law360 Rising Stars: Cleary’s Chrishan Raja.
Chrishan is Co-Chair of the London Office’s Trainee Committee, responsible for the recruitment and development of trainee solicitors.
Chrishan joined the firm in September 2012 as a trainee solicitor, qualified as an associate in September 2014, and was elected as a partner in November 2022. He has previously been resident in the firm’s New York and Washington, D.C. offices.
Notable Experience
Equity: London-listed
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Canal+ on its listing on the London Stock Exchange in connection with its spin-off from Vivendi. The listing was the largest London listing in more than two years and one of the first under the FCA’s new listing rules published in July 2024.
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Samsung Electronics Co Ltd in its direct listing of global depositary receipts representing Samsung’s non-voting preference shares to the London Stock Exchange and simultaneous delisting of GDRs from the Luxembourg Stock Exchange.
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ACG Metals Limited (ACG), previously ACG Acquisition Company Limited – a London-listed SPAC – on its acquisition of the Gediktepe mine in Türkiye from a subsidiary of Istanbul-based conglomerate Çalık Holding, and re-admission to trading on the London Stock Exchange. The acquisition is the first London-listed de-SPAC to complete under the FCA’s new SPAC regime.
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An anchor investor in its c.$240 million funding (by way of equity and warrant finance) of the $1.85 billion acquisition of ASP Acuren Holdings Inc. by Admiral Acquisition Limited, a London-listed SPAC, in July 2024. The target is the ultimate parent company of Acuren, a leading North American provider of critical asset integrity services.
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ACG Acquisition Company in its proposed acquisition of copper and nickel mining assets from Appian Capital and re-admission to listing on the London Stock Exchange, the first signed de-SPAC transaction under the FCA’s new 2021 SPAC regime.
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ACG Acquisition Company on its IPO and standard listing on the London Stock Exchange.
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Burning Rock Biotech on its direct listing of ADSs in London (achieving a dual-listing structure with its existing Nasdaq-listed securities).
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Warburg Pincus in its partial disposition of shares in Airtel Africa by way of block trade.
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A multinational property company listed on the London Stock Exchange in connection with a rights offering.
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The dealer managers in a cash tender offer by a subsidiary of a major telecommunications company listed on the London Stock Exchange for its parent’s ordinary shares and GDRs.
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The dealer managers in a cash tender offer by a subsidiary of a major manufacturing company listed on the London Stock Exchange for its parent’s ordinary shares and GDRs.
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The underwriters in the £154 million IPO of the ordinary shares of Global Ports Holding PLC and standard listing on London Stock Exchange, which included an offering to UK retail investors using financial intermediaries.
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A major retail company in its IPO and listing on the London Stock Exchange.
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A major telecommunications company in its IPO and standard listing of GDRs on the London Stock Exchange and concurrent listing of ordinary shares on the Moscow Stock Exchange.
Equity – Other (U.S.-registered and Reg S/Rule 144A offerings)
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Silk Road Fund in connection with the sale, through an accelerated bookbuilding process, of approximately 90 million ordinary shares representing approximately 9% of the total share capital of Pirelli & C. S.p.A.
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The underwriters in Hepsiburada’s US-registered IPO and listing on Nasdaq (the first Turkish company to do so).
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The underwriters in multiple SEC-registered offerings by Telenor ASA of ADSs and ordinary shares in VEON Ltd. (formerly VimpelCom Ltd.).
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The underwriters in ImageSat International’s Reg S/Rule 144A PO and listing on the Tel Aviv Stock Exchange.
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Retailors Ltd in its Reg S/Rule 144A IPO and listing on the Tel Aviv Stock Exchange.
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Terminal X in its Reg S/Rule 144A IPO and listing on the Tel Aviv Stock Exchange.
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A paper and pulp manufacturer in its $400 million Reg S/Rule 144A offering and listing on a local stock exchange.
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A hydrocarbon shipping company in its $500 million Reg S/Rule 144A offering and listing on a local stock exchange.
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Enefit Green in its Reg S/Rule 144A IPO (with domestic retail component) and listing on Nasdaq Tallinn.
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The underwriters in the Reg S/Rule 144A (with domestic retail component) IPO of Tallinna Sadam AS, the Port of Tallinn in Estonia, the first IPO of an Estonian state-owned entity since 1999 and the first international equity offering by an Estonian company since 2012.
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EFG International in a $295 million rights offering to finance part of its acquisition of BSISA from Banco BTG Pactual S.A.
Equity-linked
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CMA CGM in its Reg S offering of €320 million 0.500% bonds due 2028, exchangeable into shares of Air France-KLM.
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LG Chem, Ltd. in its Reg S offering of $1 billion 1.25% bonds due 2028 and $1 billion 1.60% bonds due 2030, each of which are exchangeable into shares of LG Energy Solution.
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The initial purchasers in Telenor’s Reg S offering of $1 billion 0.25% bonds exchangeable into SEC-registered American depositary receipts of VEON.
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The initial purchasers in Qiagen NV’s Reg S offering of $500 million 1.00% convertible notes due 2024.
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The initial purchasers in Qiagen NV’s Reg S offering of $400 million 0.500% convertible notes due 2023.
Debt – English law
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The ad hoc group of warrant holders in the 2025 restructuring of $2.6 billion in outstanding GDP-linked warrants issued by Ukraine.
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Republic of Senegal in an international sovereign bond offering in an aggregate amount of $750 million.
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The Republic of Armenia in its $500 million Reg S/Rule 144A Eurobond and simultaneous tender offer.
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Crédit Agricole S.A. in connection with a consent solicitation from holders of its outstanding €2 billion subordinated 2.625% notes issued on March 17, 2015, and due March 17, 2027.
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Credit Suisse Group AG, Credit Suisse AG, and Credit Suisse International in connection with their respective European debt programmes and related registration documents.
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Goldman Sachs International in connection with its European secured notes programme.
Debt (high yield) – New York law (Reg S/Rule 144A)
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CMA CGM in its Reg S/Rule 144A high-yield offering of €700 million 4.875% senior notes due 2032.
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CMA CGM in its Reg S/Rule 144A high-yield offering of €600 million senior unsecured notes due 2031.
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OVH Groupe SA in connection with its Reg S/Rule 144A high-yield offering of €500 million senior unsecured notes due 2031.
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CMA CGM in two Reg S/Rule 144A high-yield offerings involving the issuance of €600 million senior unsecured notes due 2029.
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The initial purchasers in Global Ports Holding’s Reg S/Rule 144A high-yield offering of $250 million 8.125% senior unsecured notes due 2021.
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The initial purchasers in a proposed Reg S/Rule 144A high yield notes offering by an international technology company.
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A major industrial company in its proposed Reg S/Rule 144A high yield notes offering.
Debt (other) – New York law (U.S.-registered and Reg S/Rule 144A)
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Counsel to the initial purchasers in all Reg S/Rule 144A offerings to date by Israeli banks of U.S. dollar-denominated regulatory capital to institutional investors outside Israel, including:
- The offering of $750 million Tier 2 subordinated notes offering and $700 senior notes by Mizrahi Tefahot Bank Ltd.
- The offering of $2 billion senior notes by Bank Hapoalim B.M.
- The offering of $750 million aggregate principal amount of Tier 2 subordinated notes by Bank Leumi Le-Israel.
- The offerings of $500 million senior notes and $500 million Tier 2 notes by Bank Leumi.
- The offering of $1 billion aggregate principal amount of Tier 2 subordinated green notes by Bank Hapoalim.
- The offering of $800 million senior notes by Israel Discount Bank Limited.
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Barclays Bank PLC in its $17.7 billion SEC-registered rescission offer, believed to be the largest rescission offer in history.
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Santander UK plc as designated U.S. securities and disclosure counsel on multiple offerings under its registered debt shelf program as well as liability management transactions in relation to its outstanding debt securities and on-going disclosure and reporting as an SEC reporting company.
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Barclays plc and its subsidiaries in numerous US-registered offerings of debt securities.
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Westlake Chemical Corporation in its US-registered offering of €700 million senior unsecured notes.
Publications
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Recent Updates to the FTSE UK Index Series Ground Rules and Eligibility Criteria
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FRC publishes updated UK Corporate Governance Code and Guidance
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Turkish IPOs in Istanbul, London and the United States – Key Issues for Market Participants
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SPACs and More: Key Proposals for Change to the UK’s Listing Regime
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Disclosure Considerations for UK and EU Public Companies in the Context of the COVID-19 Pandemic
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New FCA Requirement for Issuers to Provide a Description of Rights for Listed Securities
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Social Bonds in Response to the COVID-19 Crisis: a Guide for Issuers
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View from the UK: Recent Developments in Brexit and Corporate Governance
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Emerging Markets Restructuring Journal, Issue No. 8 Winter 2018-2019
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Turkish IPOs in Istanbul, and London – Key Issues for Market Participants
Events
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October 29, 2023