London (7 July 2017) –Reed Smith advised Jefferies International, a leading global investment bank, in its capacity as sponsor and sole bookrunner on a £180 million initial public offering (IPO) for Residential Secure Income (ReSI), a newly established REIT operating in the social housing sector. The fundraising involved a  placing and offer for subscription in key European jurisdictions and a private placement to institutional investors in the United States. Admission to trading on the London Stock Exchange's Main Market for listed securities and to listing on the Premium Listing segment of the Official List of the UK Listing Authority will become effective on 12 July.

Related Professionals: Delphine Currie Daniel K. Winterfeldt Tim Dolan Gareth Amdor Johnathan P. Webber Trish O'Donnell

The deal was led out of London and harnessed Reed Smith’s newly bolstered capabilities in the area of equity capital markets and REIT financings. The firm’s combined abilities in capital markets, financial regulation and tax, as well as its broad knowledge of the real estate sector, were required to successfully advise on the REIT-specific aspects of the fund structure.

“We were hugely excited to work on this transaction for Jefferies, which is the first IPO we have advised them on”, said Daniel Winterfeldt, US Securities and Global Capital Markets partner in London. “It was highly rewarding to collaborate across our tax, capital markets and financial regulatory teams to successfully advise on the transaction, which in turn will allow the client to further consolidate its position as a leading sponsor and broker to REITs”.