David Dixter is the EMEA Capital Markets Team Leader.
He advises issuers and underwriters, including major corporates, financial institutions and private equity clients, on equity and debt capital markets and liability management transactions, as well as in securities law and corporate governance matters. He has extensive experience advising on a variety of corporate finance transactions, including initial public offerings, secondary offerings, capital increases and rights offerings, as well as investment grade, emerging markets, sovereign and Eurobond bond offerings. He is a frequent speaker on these topics and has also authored a number of related articles.
David has advised on transactions across the EMEA region and is the head of our South Africa desk.
Equity Capital Markets
- Orange in connection with the £486 million sale of its residual stake in BT Group plc of approximately 248 million shares, representing around 2.5% of the share capital, through a private placement by way of an accelerated book building offering.
- The underwriters in connection with the follow-on public offering by InterXion Holding N.V. of 4.6 million ordinary shares at a public offering price of $72.75 per share, resulting in aggregate gross proceeds to InterXion of approximately $321 million.
- The underwriters, led by NatWest Markets Securities Inc., in connection with The Royal Bank of Scotland Group’s offering of $1.25 billion 4.445% fixed-rate/floating-rate senior notes due 2030.
- The dealers, led by arrangers NatWest Markets Securities and J.P. Morgan, in connection with NatWest Markets plc’s establishment of a U.S. medium-term note program and inaugural offering of $1 billion of 3.625% senior notes due 2022 and $300 million of floating rate senior notes due 2022.
- The underwriters, led by NatWest Markets Securities Inc., in connection with The Royal Bank of Scotland Group offering of $2 billion 4.269% fixed-rate/floating-rate senior notes due 2025. Cyprus Cooperative Bank on the sale of certain assets and liabilities to Hellenic Bank. The transaction involved the acquisition of around €10.3 billion of assets.
- The underwriters in connection with the €669.5 million initial public offering and privatisation of Nova Ljubljanska banka, Slovenia’s largest bank, and the listing of its shares on the Ljubljana Stock Exchange and GDRs on the London Stock Exchange. This is the largest ever Slovenian IPO.
- The underwriters in connection with Sibanye Gold Limited’s $1 billion rights offering. This is one of the largest ever rights offerings by a South African company and the largest ever acquisition-related capital raising in South Africa.
- The underwriters in connection with Nordic Nanovector’s capital increase and issuance of ordinary shares.
- ADNOC Distribution in connection with its $851 million initial public offering and Abu Dhabi Securities Exchange listing.
- The underwriters in connection with the NOK 7.9 billion initial public offering and listing on Oslo Børs of Elkem ASA.
- Sonae SGPS and Sonae MC in connection with the proposed initial public offering and Euronext Lisbon listing of Sonae MC.
- The underwriters in connection with the initial public offering and listing on Euronext Amsterdam of NIBC Holding N.V.
- The underwriters in connection with Terveystalo Oyj’s €876 million initial public offering and Nasdaq Helsinki listing.
- The underwriters in connection with the €3.8 billion privatisation, initial public offering and Euronext Amsterdam listing of ABN AMRO.
- Tele2 AB in connection with its SEK 3 billion rights offering and its SEK 27 billion merger with Com Hem.
- The underwriters in connection with the initial public offering and London Stock Exchange listing of Egyptian company Integrated Diagnostics Holdings plc.
- Euronext N.V., as issuer, and Intercontinental Exchange, Inc., as selling shareholder, in connection with Euronext's €1.4 initial public offering and listing on Euronext Paris, Euronext Amsterdam and Euronext Brussels.
- The underwriters in connection with Banco Popular Español's €2.4 billion rights offering.
Debt Capital Markets
- Designated underwriters' counsel on all U.S. bond offerings by The Royal Bank of Scotland Group plc, including its $1.25 billion fixed-rate/floating-rate senior notes offering; establishment of a U.S. medium-term note programme and inaugural offering of $1 billion senior notes and $300 million of floating rate senior notes; $2 billion fixed-rate/floating-rate senior notes offering; $1.5 billion fixed-rate/floating-rate senior note offering; and its $2.65 billion perpetual subordinated contingent convertible notes.
- Nokia in connection with the update of its €5 billion euro medium term note program and its drawdown of €750 million in senior unsecured notes.
- Partner Communications Company Ltd. In connection with its offering of NIS 225 million Series G Debentures.
- The Republic of South Africa in connection with the preparation and filing of its annual report on Form 18-K, and the underwriters in connection with a $1 billion SEC-registered bond offering by the Republic of South Africa.
- Citycon Oyj in connection with multiple Eurobond offerings.
- Partner Communications Company Ltd. in connection with its offering of NIS 225 million Series G Debentures.
- The underwriters in connection with Mylan’s inaugural €3 billion notes offering.
- The underwriters in connection with Amgen’s €2 billion notes offering.
- Nokia Corporation in connection with multiple bond offerings, including its $1 billion senior notes offering and its €5 billion EMTN programme update and drawdown of €1.25 billion in senior notes.
- Coca Cola European Partners plc (CCEP) in connection with its offers to exchange certain U.S. dollar-denominated notes issued by its subsidiary, Coca-Cola European Partners U.S., LLC (CCEP U.S.), for new notes issued by CCEP and guaranteed by CCEP U.S. and cash, as well as related consent solicitations.
- The underwriters in connection with the Republic of Iraq’s inaugural $1 billion bond offering.
- The underwriters in connection with Banco Santander S.A.’s $2.5 billion registered debt offering.
- The initial purchasers in connection with Reckitt Benckiser’s $7.75 billion bond offering in connection with the acquisition of Mead Johnson Nutrition Company.
Awards & Accolades
- David has been ranked as a notable practitioner by Chambers UK, which quotes him as being “very knowledgeable with a lot of expertise” and “very practical and commercial.”. He is also named as a leading individual by the Legal 500 UK, which references him as a “highly user-friendly, commercial” group head who is “always very involved”.
- Shearman & Sterling was awarded “Deal of the Year” in Slovenia at the CEE Legal Matters Awards 2019 for the €669.5 million initial public offering and privatisation of Nova Ljubljanska banka.
- Shearman & Sterling was awarded “Equity Deal of the Year” at the IFLR Awards 2018 for its role advising on the ADNOC Distribution IPO.
- Shearman & Sterling was awarded “Equity Deal of the Year” by International Financial Law Review (IFLR) Europe for its role advising on the IPO of Euronext.
- Shearman & Sterling awarded “Finance Team of the Year” at The Lawyer awards for the €8.4 billion recapitalisation of Piraeus bank.
- Named a “Rising Star” by Law360.