Novelis Sheet Ingot GmbH’s $596 Million Green Bond

Novelis Sheet Ingot GmbH's $596 Million Green Bond

Ogier Corporate Finance Limited (OCFL), the listing agent for Ogier, has advised Novelis Sheet Ingot GmbH, an indirect wholly-owned subsidiary of Novelis Inc (Novelis), in respect of the listing of green bonds on The International Stock Exchange’s green market segment, TISE GREEN. Ogier worked alongside the Issuer’s counsel, Fried, Frank, Harris, Shriver & Jacobson (London) LLP. Torys LLP and Levy & Salomão Advogados advised Novelis, while TozziniFreire Advogados and Skadden, Arps, Slate, Meagher & Flom LLP advised the underwriters.

Novelis is the leading producer of flat-rolled aluminium products and the world’s largest recycler of aluminium. The net proceeds from the bonds will be used to finance eligible green projects, such as investments in renewable energy and pollution prevention and control.

Novelis has engaged Sustainalytics, an independent environmental, social and governance (ESG) and corporate governance research, ratings and analytics firm, to help develop a green bond framework, define the eligible green projects and assess the processes for alignment with the Green Bond Principles (produced by the International Capital Markets Association).

Novelis’ bonds are the latest securities to be admitted to TISE GREEN, which is open to both debt and equity listings and aims to facilitate the flow of capital into green and sustainable initiatives.

The OCFL team was led by Jersey partner Simon Felton (Picture), with senior associates Lucy Chambers and Emily Renouf.

Fried Frank represented Novelis with a team  led by corporate partners Ashar Qureshi and John Satory and included corporate partners Daniel J. Bursky, Joshua Thomas Coleman, and Ezra Schneck; litigation partner David Morris; tax partner Michael J. Alter; corporate special counsel Taylor Souter; environmental special counsel Donna Mussio; tax special counsel Ryan Conley; corporate associates Timothy J. Machat, Brett T. Masters, Tristan Schmidt, and Charles Stern; environmental associate Samuel K. Dykstra; intellectual property and technology associate Kimberly L. Mihovics; and tax associate David Federgrun.

Torys’ team included Partner Jonathan Wiener and associate Nico Basil in New York, and partner Mike Amm and associates Paulina Taneva and Claire Chapman in Toronto.

Levy & Salomão Advogados’ team included Partner Luiz Roberto de Assis and associate Fabio Kupfermann Rodarte in São Paulo.

TozziniFreire Advogados’ team advising JP Morgan, Deutsche Bank and initial purchasers included Partner Alexei Bonamin and associates Leonardo Medeiros Braghetto, Gabriel Prates Gragnani, and Felipe Tulio de Paiva in São Paulo.

Involved fees earner: Michael Alter – Fried Frank Harris Shriver & Jacobson; Daniel Bursky – Fried Frank Harris Shriver & Jacobson; Joshua Thomas Coleman – Fried Frank Harris Shriver & Jacobson; Ryan Conley – Fried Frank Harris Shriver & Jacobson; Samuel Dykstra – Fried Frank Harris Shriver & Jacobson; David Federgrun – Fried Frank Harris Shriver & Jacobson; Timothy Machat – Fried Frank Harris Shriver & Jacobson; Brett Masters – Fried Frank Harris Shriver & Jacobson; Kimberly Mihovics – Fried Frank Harris Shriver & Jacobson; David Morris – Fried Frank Harris Shriver & Jacobson; Donna Mussio – Fried Frank Harris Shriver & Jacobson; Ashar Qureshi – Fried Frank Harris Shriver & Jacobson; John Satory – Fried Frank Harris Shriver & Jacobson; Tristan Schmidt – Fried Frank Harris Shriver & Jacobson; Ezra Schneck – Fried Frank Harris Shriver & Jacobson; Charles Stern – Fried Frank Harris Shriver & Jacobson; Taylor Souter – Fried Frank Harris Shriver & Jacobson; Luiz Roberto de Assis – Levy & Salomão; Fabio Kupfermann Rodarte – Levy & Salomão; Raulin Amy – Ogier LLP; Lucy Chambers – Ogier LLP; Simon Felton – Ogier LLP; Emily Renouf – Ogier LLP; Michael Amm – Torys LLP; Nico Basil – Torys LLP; Claire Chapman – Torys LLP; Paulina Taneva – Torys LLP; Jonathan Wiener – Torys LLP; Alexei Bonamin – Tozzini Freire ; Leonardo Medeiros Braghetto – Tozzini Freire ; Gabriel Prates Gragnani – Tozzini Freire ; Felipe Tulio de Paiva – Tozzini Freire ;

Law Firms: Fried Frank Harris Shriver & Jacobson; Levy & Salomão; Ogier LLP; Torys LLP; Tozzini Freire ;

Clients: Deutsche Bank; JP Morgan; Novelis Sheet Ingot GmbH;

Author: Giulia Di Palma