International law firm, Reed Smith Richards Butler LLP today announced its role in advising Arco Capital Corporation Ltd (“ACC”) on a €41 million secured financing for the acquisition of CableTEL’s assets and businesses, involving acquisitions in Bulgaria and Macedonia.

ACC is a holding company incorporated as an exempted company in the Cayman Islands that, through its subsidiaries, engages in lending and acquisition activities in emerging markets. ACC is externally managed by Arco Capital Management LLC (“ACM”). ACM is a premiere credit investment platform that serves emerging markets - leveraging its years of market insight, deep relationships and proven investment acumen. ACM is beneficially owned in part by the principals of Gramercy Advisors LLC, a leading asset manager in emerging market investments with $3.6 billion of face value in assets and over $1.8 billion of equity under management.

The financing for the CableTEL acquisition enables ACC to generate positive investment performance with a low volatility and low correlation to traditional financial markets.

Leon Stephenson, Partner in the banking & finance practice at Reed Smith Richards Butler LLP, led the team of 10 lawyers. He commented:

“This was a complex refinancing that had to be completed in an extremely tight timeframe. Through Reed Smith Richards Butler’s relationship with ACC and ACM we are acquiring a particular expertise in advising clients doing business in the Eastern European financial markets.”

Cameron McKenna and CA IB Corporate Finance (part of UniCredit Markets and Investment Banking) advised CableTEL.

ENDS

For further information please contact:

Sara Craddock, Reed Smith Richards Butler 020 7556 6728
Beth Farrer, Spada     020 7269 1430
 

Notes to Editor

About Arco Capital Corporation and Arco Capital Management

Arco Capital Corporation Ltd (“ACC”) is a holding company incorporated as an exempted company in the Cayman Islands that, through its subsidiaries, engages in lending and acquisition activities in emerging markets. ACC is externally managed by Arco Capital Management LLC (“ACM”). ACM is a premiere credit investment platform that serves emerging markets - leveraging its years of market insight, deep relationships and proven investment acumen.  ACM is beneficially owned in part by the principals of Gramercy Advisors LLC, a leading asset manager in emerging market investments with $3.6 billion of face value in assets and over $1.8 billion of equity under management. 

About Reed Smith Richards Butler

Reed Smith Richards Butler is one of the 15 largest law firms worldwide, with more than 1500 lawyers in 21 offices throughout the United States, Europe and the Middle East. 

Founded in 1877, the firm represents leading international businesses from Fortune 100 corporations to mid-market and emerging enterprises.  Its lawyers provide litigation services in multi-jurisdictional matters and other high stake disputes, deliver regulatory counsel, and execute the full range of strategic domestic and cross-border transactions. 

Reed Smith Richards Butler is a preeminent advisor to industries including financial services, life sciences, health care, advertising, media and technology, shipping, international trade and commodities and real estate. 

Reed Smith Richards Butler prides itself as a workplace where diversity is embraced as a core value. The firm is ranked in the top 50 firms on the Minority Law Journal’s Diversity Scorecard, representing an overall jump of 109 places since 2003. Diversity-minded client Sara Lee Corporation elevated Reed Smith to Preferred Partner status, whilst the Hispanic National Bar Association selected the firm as its “Law Firm of the Year” in 2006. The firm’s reputation was further reinforced at last year’s 2006 ‘The Lawyer awards’ where we were shortlisted for our work in diversity, alongside several other major transatlantic firms. The firm was awarded second place in the US firm of the year category and Thomas Ince was named UK associate of the year, his work pro bono work for the Royal Society for the Blind being particularly recognised.

For further information visit: www.reedsmith.com