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Cases
Cases in which we implement
complex transactions and create
innovative solutions
2026
2025
2024
2023
2021
2017
01 /
IPO & PRE-IPO
2025
IPO of DOM.RF on the Moscow Exchange
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The first IPO of a development institution with state participation in Russian practice and one of the few in the world
LECAP lawyers supported the project from start to finish, including the preparation of offering documentation, legal documentation (lock-up deeds, agreements with brokers, and others), support for KYC procedures and disclosure procedures, preparation of internal policies and regulations to comply with listing criteria, as well as preparation of a long-term incentive program for employees
02 /
Securitization
2021 to present
Securitization of VTB's consumer loan portfolio
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The first securitization of a consumer loan portfolio structured entirely under Russian law
LECAP acted as legal counsel to VTB on the securitization transaction involving a consumer loan portfolio in the amount of RUB 45 billion. The amount of the secured bond issuance of SFO VTB RKS-1 was RUB 35 billion. For VTB, this is the first consumer loan securitization transaction
The transaction received the Cbonds Awards in the category “Most “retail” primary placement transaction” 2021
03 /
Convertible instruments
2025
Structured bonds with delivery of shares of PAO PROMOMED
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For the first time in Russian practice, a market instrument of convertible debt financing was structured on the basis of structured bonds issued off the balance sheet of an SFO
The LECAP ecosystem enabled the implementation of a transaction unique in structure, coordinating it with the regulator and infrastructure, and offered it to the client as a ready-to-launch market product within the shortest possible timeframe
04 /
International projects
2024-2025
Redomiciliation of Ozon Holdings PLC
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Redomiciliation as a working legal mechanism
As a result of the redomiciliation, the ADRs of Ozon Holdings PLC were converted into ordinary shares of two classes, followed by the trading of the ordinary shares on the Moscow Exchange. Class A ordinary shares confer special rights and are convertible
05 /
Bonds and Structured Products
2023 to present
Bond Program with Security Interest of PPK REO
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For the first time in Russian practice, a mechanism for the repayment of non-structural bonds through the transfer of monetary claims was structured
Within the framework of the program, 8 bond issues with an aggregate nominal value of RUB 58 billion were placed. The current REO bond issue became the first to be formally verified as “green.” Compliance with the principles of green bonds was confirmed by Expert RA
Advised on the first green bond issue
06 /
IPO AND PRE-IPO
2024
IPO of PAO PROMOMED on the Moscow Exchange
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The first IPO of an innovative biopharmaceutical company engaged in biotechnology research and development on the Russian market
We prepared the company for the IPO over three years: we built the corporate structure, corporate governance, positioning, participated in the preparation of the financial model, and supported the IPO at every stage, including the preparation of the issuance and transactional documentation
07 /
Corporate Governance and M&A
2024
Corporate Restructuring and IPO of PAO Diasoft
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The prospectus was registered in parallel with the completion of the closed subscription for the transition to a “single share”
LECAP provided full legal support for both the corporate restructuring of PAO Diasoft and the company’s subsequent IPO on the Moscow Exchange
08 /
Corporate Governance and M&A
2024
PSB Bank’s entry into Carmoney’s capital
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The project became the first transaction involving the acquisition of a PAO that had conducted an IPO and become public after 2022
LECAP developed the pricing mechanism for the offer, prepared the draft offer, the shareholders’ agreement, and the option agreement
09 /
International Projects
2023 to present
Eurobond Issuances
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LECAP fully replaced the foreign infrastructure and provided services in the interests of investors in relation to 18 eurobond issuances of more than 9 borrowers
The bondholder representative LCPIS acted in the interests of Russian and foreign investors, in particular, performing the functions of information and tabulation agent in connection with the consent solicitation procedure for eurobond holders
010 /
 PPP and concession agreements
2025
Development of the concept for implementation of the comprehensive investment project of UPPC "Sever"
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This project is highly significant for the economies of Russia and foreign countries and is based on the design of internationally compliant port and logistics infrastructure.
A key feature of the project is the combination of port and railway infrastructure within a single project framework, as well as the combination of berth infrastructure in federal ownership and the cargo terminal in private ownership.
011 /
 PPP and concession agreements
2025
Amendments to the concession agreement regarding the reconstruction and operation of a waste sorting complex
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Our services enabled the parties to continue advancing the project through the implementation stages agreed in the concession agreement
For the first time, we handled a stressful and conflict-driven situation in the course of implementing a concession project in which a large number of contradictions had accumulated between the parties over several years
012 /
Securitization
2017
Securitization of rights to payment under a services agreement
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The first example of Russian securitization in which the asset consists of rights to payment under a single long-term contract
LECAP acted as legal counsel in connection with the issuance of bonds by OOO SFO Lokoservis Finans in the amount of RUB 4.373 billion. The bonds were issued as part of a securitization transaction involving rights to payment from the service customer under a long-term services agreement for locomotive maintenance entered into by OOO TMH-Service (originator).
013 /
Debt management
2025
Recapitalization of Segezha Group
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One of the largest recapitalizations of Russian companies
LECAP provided comprehensive support for the project, including registration of the share issuance, preparation of the transaction documentation, and advising the Company’s shareholders
014 /
Debt Management
2025-2026
Change in Terms for Public Debt: Reorganization of PAO TMK
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Support for the reorganization of PAO TMK in its dealings with creditors, including holders of public debt
As part of the project support, the LECAP team developed and agreed with the Bank of Russia on a legal position under which it is permissible to include a waiver by bondholders of the right to demand early redemption of bonds in the event of an intragroup reorganization of the issuer.
015 /
Debt Management
2025
Domodedovo Airport Debt Burden Management
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For the first time in market history, a liability management transaction took place
Conducting the liability management transaction made it possible to extend the bond term amid the search for a strategic shareholder and the reform of the corporate governance system and business processes of the Domodedovo Group.
Our results have been recognized with awards and rankings
0
Equity issuances
0
Bond issuances
0
Structured bond issuances
0
Debt restructurings
0
PPP projects
2026
Best legal advisor
in the structured products market

Structured Finance Leaders Award, Expert RA
Best legal advisor
in the IPO/SPO market — 1st place

PREQVECA IPO AWARDS
Capital Markets — Group 1

Kommersant Ranking
2025
Best legal advisor
in the IPO/SPO market — 1st place

PREQVECA IPO AWARDS
Best law firm
in the bond market

Cbonds Awards
IPO of the Year — PAO MTS-Bank — 1st place

PREQVECA IPO AWARDS
Capital Markets — Group 1

Pravo-300 Ranking
Capital Markets — Group 1

Expert RA Ranking
2024
IPO of the Year — PAO Sovcombank — 1st place

PREQVECA IPO Awards
Best law firm
in the bond market

Cbonds Awards
Capital Markets — Group 1

Pravo-300 Ranking
Sanctions Law — Group 2

Pravo-300 Ranking
Capital Markets — Group 1

Kommersant Ranking
Sanctions Law — Group 2

Kommersant Ranking
Financial/Banking Industry — Group 2

Kommersant Ranking
2023
Best law firm
in the bond market

Cbonds Awards
Capital Markets — Group 2

Pravo-300 Ranking
Sanctions Law — Group 2

Pravo-300 Ranking
Capital Markets — Group 1

Kommersant Ranking
Sanctions Law — Group 2

Kommersant Ranking
All awards
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