Sui-Jim Ho’s practice focuses on finance, capital markets, and restructuring.
He advises on a broad range of financial products including loans, bonds, and derivatives. Jim also advises on general corporate and regulatory matters. He is particularly noted for his experience in complex emerging markets work across many geographies, ranging from Africa and Latin America to Russia/CIS.
As a noted “sovereign debt expert” (The Legal 500 UK), Jim has been involved in many high-profile sovereign debt transactions. He also advises supranationals and central banks on various institutional and regulatory matters. Notably, he advised Greece on its €206 billion bond exchange, the largest sovereign debt restructuring in history, and Barbados on its debt exchange, which resulted in Barbados becoming the only country in the world whose public debt stock is climate resilient as a result of the inclusion of the innovative “natural disaster clause” in its debt instruments.
Jim completed client secondments at Citigroup (capital markets) and Lehman Brothers (derivatives). He joined the firm in 2008 and became a partner in 2017.
Corporate – Finance and Restructuring
Eurasian Resources Group in its $5.2 billion dual-track debt restructuring (Legal Business Awards 2017: Restructuring Team of the Year shortlist; IFLR Europe Awards 2017: Restructuring Deal of the Year and Restructuring Team of the Year shortlist).
UC RUSAL in its $5.15 billion restructuring, which involved parallel schemes of arrangement in Jersey and England, the largest scheme proposed by a Russian group (The Lawyer Awards 2015: Restructuring Team of the Year runner-up; Legal Business Awards 2015: Restructuring Team of the Year shortlist).
A major bank creditor in the restructuring and subsequent insolvency of the travel operator Thomas Cook.
A European airline in the restructuring of its leases as a result of the COVID-19 pandemic.
Truvo Group in its €1.5 billion cross-border restructuring (IFLR’s EMEA Restructuring of the Year).
Debt capital markets and liability management transactions for financial institutions and corporates including high-yield bond matters for Consolidated Minerals and RCS & RDS.
Loans and derivatives transactions for various financial institutions and funds (including Bank of America Merrill Lynch, Blackstone, Credit Suisse, Goldman Sachs, HSBC, Lehman Brothers, and Oman Investment Fund), corporates (including ArcelorMittal, Eurasian Resources Group, Lion Rock, Rusal, and Statoil), and ISDA (including in relation to the industry netting opinion for LCH.Clearnet).
Sovereign – Financing
All of Greece’s international bond issuances in 2019 (CEE Legal “Deal of the Year”, 2020), the country’s first offerings to the international markets since the conclusion of the bailout programme in 2018 including the tap issuance of €1.5 billion 3.875% notes due 2029, the issuance €2.5 billion 3.875% senior notes due 2029, the issuance of €2.5 billion 3.45% notes due 2024, and the issuance of €2.5 billion 1.875% notes due 2026.
Benin’s innovative €260 million term loan in 2018 arranged by MUFG, the first time in World Bank history that policy-based guarantees were leveraged to support commercial loans to a sovereign in Africa.
Republic of Senegal in a foreign exchange hedging transaction that is supported by a first-of-its-kind guarantee from the African Development Bank. The successful execution of this innovative transaction won Senegal’s Ministry of Finance and Budget the title of “Sovereign Risk Manager of the Year” at the Risk.Net Risk Awards 2020.
Loans, bonds and derivatives, and institutional advice for various sovereigns, supranationals, and central banks including Argentina, Asian Development Bank, Benin, Chad, Republic of Congo, Dominican Republic, Eurofima, European Stability Mechanism, Georgia, Greece, Ivory Coast, Nigeria, Russia, Senegal, and Tanzania.
Sovereign – Restructuring
Lebanon on the management of its sovereign debt, including advising on the restructuring of its circa $30 billion U.S. dollar-denominated Eurobonds.
Barbados 2018/2019 restructuring: the Government of Barbados in relation to its domestic and external debt exchange. Following the exchange, Barbados became the only country in the world whose public debt stock is climate resilient as a result of the inclusion of the innovative “natural disaster clause” in its debt instruments.
Chad 2018 restructuring: the Republic of Chad in the restructuring of its $1.3 billion facility agreement, accounting for 98% of Chad’s commercial debt stock.
Greece 2011/12 restructuring: The Hellenic Republic on a number of complex transactions, including its €7.16 billion bridge loan from the EU under the European Financial Stabilisation Mechanism, and its €206 billion bond exchange that formed a key component of the country’s EU assistance package (British Legal Awards 2012: European Legal Team of the Year; Financial Times U.S. Innovative Lawyers Report 2012: Most Innovative in Finance; Legal Business Awards: Restructuring Team of the Year and Law Firm of the Year; IFLR Awards 2013: Debt Deal of the Year and Most Innovative U.S. Law Firm in Europe).
Member of the Financial Markets Law Committee’s Sovereign Debt Forum.
- Editor, Emerging Markets Restructuring Journal
- Contributing Editor, International Financial Law Review
- Financial Markets Law Committee’s Brexit High Level Advisory Group and Sovereign Debt Scoping Forum
“The UK’s Post-Brexit Financial Services Regulatory Framework – Details Emerge,” Cleary Gottlieb Alert Memo
“Social Bonds in Response to the COVID-19 Crisis: a Guide for Issuers,” Cleary Gottlieb Alert Memo
“COVID-19: UK Regulators Adopt Regulatory and Operational Relief Measures To Support Financial Services Firms” Cleary Gottlieb Alert Memo
Contributing Author, A Practitioner’s Guide to Syndicated Lending, 2nd edition
“United Kingdom” chapter, Getting the Deal Through: Securities Finance 2019
“LIBOR Transition: The Time to Act Is Now,” Cleary Gottlieb Alert Memo
“LIBOR No More: Practical Guidance on How to Prepare for the Phase-Out of LIBOR,” Financier Worldwide Magazine
“LIBOR Transition: Focus on Conduct Risk,” Cleary Gottlieb Alert Memo
“The Resurgence of Hybrid Securities,” International Financial Law Review
“Parallel Schemes of Arrangement,” International Corporate Rescue
“The Rising Tide of Creditor Democracy,” International Financial Law Review
“How Will EMIR Affect Corporates?,” International Financial Law Review
“ESMA’s U-turn: What’s Next for Indirect Clearing?,” International Financial Law Review
“COVID-19 Toolkit for Sovereigns: Support, Stimulus, and Debt Management Measures” Cleary Gottlieb Alert Memo
“Building a Climate Resilient Debt Portfolio,” International Financial Law Review
“Sovereign debt column: Natural Disaster Clauses – Shelter From the Storm?,” Global Restructuring Review (Nov 2019)
“Sovereign debt column: Is This Time Different for Sub-Saharan Africa?,” Global Restructuring Review (August 2019)
“Sovereign debt column: Coming Into the Light?,” Global Restructuring Review (June 2019)
“Cure for the Disease – Stop Worrying About German Insolvency Filing Requirements and Continue Trading,” Cleary Gottlieb Alert Memo
“Suspension of Wrongful Trading Rules: What It Means for Businesses,” Cleary Gottlieb Alert Memo
“Legal Analysis: Schemes of Arrangement – 12 Month Lookback,” Debtwire (August 2019)
“Company Voluntary Arrangements: A Primer,” Cleary Gottlieb Alert Memo
“Gibbs Rule Tested: Implications for Creditors,” International Financial Law Review
“Indian Bankruptcy Code—How Does It Compare?,” Emerging Markets Restructuring Journal, Issue No. 8 Winter 2018-2019
“U.S. Court Recognizes Croatian Proceeding Settlement Despite English Law Gibbs Rule,” Cleary Gottlieb Alert Memo
“Schuldschein Forecast – Rain or Shine?,” Cleary Gottlieb Alert Memo
“We Need to Talk: Information Flows When Restructuring Listed Debt,” with D. Billington, Butterworths Journal of International Banking and Financial Law
“Cutting the Gordian Knot – Restructuring Russian Companies,” with P. Lyadnova, Emerging Markets Restructuring Journal
Jim regularly speaks at conferences and conducts training events on finance-related topics at various universities, corporates, banks, and multilateral organisations.