International law firm Simmons & Simmons is proud to announce its role in advising UBS as the arranger in a first-of-a-kind carbon finance transaction with asset management firm Carbonaires and carbon management specialist The Carbon Removers.
This transaction involved the issuance of notes aiming to provide returns to investors from the sale of carbon removal credits which are generated by removing carbon dioxide from the production process and supply chain of the Scotch whisky industry.
The transaction was supported by a cross-border team from Simmons & Simmons, comprising:
- London: Structured Finance and Derivatives (SFD), Energy, Natural Resources, and Infrastructure (ENRI), Tax, and Financial Services Regulatory (FS Regulatory).
- Luxembourg: Banking and Finance, and Tax.
The team included Paul Browne, Jonathan Edge, Laura Willers, Christian Walsh, and Rowan Hettige from SFD; Ben James, and Joshua Reuter from ENRI; Laura Allwright and Joao Martinho from Tax in London; Rosali Pretorius from FS Regulatory; and in Luxembourg, Louis-Maël Cogis and Markos Tochovitis from Banking and Finance, along with Julie Carbiener and Camille Benezet from Tax.
Paul Browne, who led the SFD team in London, commented on the deal, stating, "We are proud to have played a part in such a significant transaction with UBS and Carbonaires – a truly impressive collaboration of the carbon and structured products markets. This is a ground-breaking innovative deal and a fantastic achievement for UBS, Carbonaires and all involved."
“Our collaboration across different practice areas and locations highlights the firm's integrated approach to transactions, and our ability to leverage our deep industry knowledge within the FI and ESG sectors."
