Hogan Lovells advised Marex Financial on its first Tier 2 Subordinated Notes Programme
Frankfurt, London 9 July 2020 – International law firm Hogan Lovells has advised Marex Financial, a leading UK-based broker, on the establishment of a Tier 2 Subordinated Notes Programme as well as on its first drawdown issuance.
Marex's Tier 2 Notes programme allows for the issuance of a variety of securities including Fixed Rate Notes, Floating Rate Notes, Fixed to Floating Rate Notes, Zero Coupon Notes, Share Linked Notes, Index Linked Notes and other Variable Linked Notes. It is in compliance with the conditions for Tier 2 instruments set out in the Capital Requirements Regulation (EU) No 575/2013 (CRR) and it has satisfied the FCA notification process. The first issuance under the programme consisted of principal protected subordinated notes linked to the Swiss Market Index issued on 12 June 2020.
Marex Financial is part of the Marex Spectron group of companies, and is rated BBB by S&P. It is an FCA regulated IFPRU investment firm and subject to the full requirements of the CRR and to the resolution regime under the UK Banking Act. Marex launched Marex Financial Products, a structured note business, in September 2019 and is currently expanding this business, among others, with the establishment of the Tier 2 Subordinated Notes Programme.
The cross practice team from Hogan Lovells was led by partners Jochen Seitz (Frankfurt), Peter Maier (Frankfurt), Steven McEwan and Jennifer O`Connell (both London), alongside senior associate Stefan Schrewe and associate Frank Salzgeber (both Frankfurt) and associates William Hardisty and Axel Delaud (London). The team covered both the capital markets transactional and the regulatory aspects of the matter.
Commenting, partner Jochen Seitz said: "We are delighted to have supported Marex on this Tier 2 programme which allows Marex to tailor products pursuant to the needs of investors and at the same time provides funding for capital purposes."