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DWF advises Neutral Capital Finance PLC on US$50m green Eurobond programme


DWF's Debt Capital Markets team has advised Neutral Capital Finance PLC in its capacity as issuer of a green US$50m medium term note Eurobond programme.



The first 2019 series of Bonds for an amount of US$12m was issued by Neutral Capital Finance plc on 12 April 2019. The programme is listed on the Frankfurt exchange with a rating of A-(sf) (ind) from ARC Ratings.

The Bonds will fund Neutral Fuels LLC's expansion plans in the UAE and other appropriate jurisdictions in the Middle East, Asia and Africa and to build and operate a number of modular-based biodiesel production plants. Neutral Fuels converts waste cooking oils and fats into European standard EN14214 compliant biofuel.

The DWF team was led by partner, Martin Pugsley, alongside Michael Byrne, Sophie Morris, Laurie Clay and Ade Olunowo in the London office and Umera Ali and Katrina Mackay in the Banking team from our Dubai office.

Martin Pugsley, Head of Financial Services at DWF said: "We are pleased to advise Neutral Capital Finance on this significant green bond issue, which will open up lines of funding to Neutral Fuels to expand its growth of biodiesel production across the UAE and the Gulf. This transaction perfectly demonstrates our global debt capital markets credentials and specific expertise in the Financial Services sector."

Thomas Lloyd-Jones, CEO of Zenzic Partners, who acted as arranger said: “We are pleased to have arranged the Neutral Capital Finance Plc transaction. The security of the structure focuses on the key strength of renewable energy companies, as a sector: the durable assets and long-term asset cash-flows generated by the installations, in this case operated by Neutral Fuels LLC; an extremely experienced operator in the sector.”

About DWF
We are a global legal business, transforming legal services through our people for our clients. Led by managing partner and CEO Andrew Leaitherland, we have over 27 key locations and 3,000 people delivering services and solutions that go beyond expectations.
By questioning traditions and thinking beyond conventions, we achieve outstanding levels of innovation. We have received recognition for our work by the Financial Times who named us as one of Europe's most innovative legal advisers, and we have a range of stand-alone consultative services, technology and products in addition to the traditional legal offering.
We connect on a global scale, sharing our knowledge and technical expertise to identify and anticipate challenges. We are finding new solutions for clients within eight core sectors including Energy and Industrials, Financial Services, Insurance, Public Sector, Real Estate, Retail, Food & Hospitality, Technology and Transport.
Building business relationships that inspire trust and confidence across all levels of our business; means we deliver an exceptional client experience. We work with a range of FTSE 100 multinational household names to private individuals, from both the public and private sector.
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Fondée en 2015, Chaineum est un cabinet de conseil en opérations de haut de bilan offrant une expertise de premier plan en matière d’ICOs et STOs, avec une vision stratégique orientée tant vers le métier de ses clients que sur la technologie blockchain. A ce titre, Chaineum a participé à la mise en œuvre de bonnes pratiques dans le secteur (ICO Charter, Security Token Network).
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Jeudi 9 Mai 2019
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