A&O advised BNP Paribas, Danske Markets, Lehman Brothers and Nordea Bank
The issue, the largest of its kind in
Global corporate chief Richard Cranfield and London corporate partner Christopher Bernard led the team for A&O, with senior associates Nicholas Stuart, James Roe (both corporate) and Adam Farlow (capital markets) assisting.
Norton Rose advised Carslberg, a long-term client of the firm, with
The deal continues a run of leading roles on major rights issues for A&O in recent weeks, with the magic circle firm taking a front seat on Imperial Tobacco’s £4.9bn rights issue earlier this month.
The firm last month advised lending giant HBOS on its own £4bn programme, when corporate partner David Broadley advised alongside relationship partner Alistair Asher.
Commenting on the Carlsberg deal, Bernard said: “This is the biggest Danish rights issue in terms of deal size. The Scottish & Newcastle acquisition was huge for Carlsberg and the rights issue will pay off a large part of the debt.”