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
América Móvil in connection with its €2 billion commercial paper program and a €250 million swingline facility agreement.
Vale International in a $300 million term loan facility.
Petróleos Mexicanos (PEMEX), the Mexican state-owned oil company and one of the largest enterprises in Latin America, in various debt financing transactions.
MDC Partners Inc. on debt finance matters in connection with its business combination transaction with Stagwell Media LP.
Looping Group in the financing of its acquisition of Drayton Manor Park.
Debt capital markets and liability management transactions for financial institutions and corporates including the underwriters in NongHyup Bank’s $500 million COVID-19 response social notes offering; Kakao Corp in a $300 million convertible bond offering; and Doosan Infracore as issuer and The Korea Development Bank as guarantor in a $300 million notes offering.
Corporate – Restructuring
A European airline in the restructuring of its leases as a result of the COVID-19 pandemic.
A major bank creditor in the restructuring and subsequent insolvency of the travel operator Thomas Cook.
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).
Truvo Group in its €1.5 billion cross-border restructuring (IFLR’s EMEA Restructuring of the Year).
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; and most recently, in all four of its bond issuances in 2020 totaling $9 billion.
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, the Bank of England, Benin, Chad, Republic of Congo, Dominican Republic, Eurofima, European Stability Mechanism, Georgia, Greece, Ivory Coast, Nigeria, Russia, Senegal, and Tanzania.
Sovereign – Restructuring
The Republic of Argentina in connection with its $63.4 billion debt restructuring in 2020.
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.
The Gambia in connection with its ongoing sovereign debt management.
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).
- Editor, Emerging Markets Restructuring Journal
- Contributing Editor, International Financial Law Review
- Member, Financial Markets Law Committee’s Brexit High Level Advisory Group
- Member, Financial Markets Law Committee’s Sovereign Debt Forum
“Sustainable Finance: A Global Overview of ESG Regulatory Developments,” Cleary Gottlieb Alert Memo
“Consequences of the Disease – Start Worrying Again About German Insolvency Filing Requirements,” Cleary Gottlieb Alert Memo
“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)
“Global Restructuring Trends,” Cleary Gottlieb Alert Memo
“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.