Chapman served as US counsel to Reznik Paz Nevo Trusts Ltd., as indenture trustee, in connection with two separate Bank Leumi offerings: (i) a dual-tranche US$1 billion offering of senior unsecured notes sold to institutional investors in the international markets in a transaction exempt from registration requirements, and (ii) the issuance of US$1 billion Tier 2 contingent convertible (CoCo) notes. These matters represent the fourth and fifth Bank Leumi offerings in which Chapman has served as counsel to the indenture trustee.
Chapman previously represented Reznik Paz Nevo Trusts Ltd. in connection with Bank Leumi’s landmark US$750 million CoCo notes offering (the first international issuance of CoCo notes by an Israeli bank), its US$500 million offering of international senior unsecured notes (the first such issuance by an Israeli bank), and its US$500 million Tier 2 contingent convertible (CoCo) green notes offering (the bank’s first offering under its new Green Bond Framework). Partner John Hitt led the Chapman deal team, along with partner and Israel practice head Michael Friedman, in these transactions.
The engagement was reported by Israel Desks: Legally Israel News.
