Linklaters

Buried in data are answers you can’t afford to miss. Watch the video that, in 60 seconds, brings to life the challenge that our Applied Intelligence practice team are solving for our clients through a combination of legal expertise, AI tools and advanced data science.    Discover more about the team behind Applied Intelligence 👉https://lnkd.in/eYJzSXQU

Is FIFA's 2026 World Cup ticketing model an abuse of dominance? A new complaint to the European Commission argues that it is. A finding against FIFA would have significant consequences for fans, the broader events industry and FIFA itself.   We examine the complaint, the legal framework and the potential implications in our latest SportingLinks article by Benja Arnott, Abrahim Warraich and Lily Kingdon-Dawkins.   Read the blog here 👉 https://lnkd.in/e4yjbspK

We have advised on a €1.4bn long-term financing platform for Thyssengas.   The transaction is a landmark achievement, delivering one of the first unsecured common terms platforms of this scale in the German energy infrastructure market. The platform provides Thyssengas with a flexible and scalable framework to access multiple sources of capital under a unified set of terms, supporting the evolution of its gas transmission network towards hydrogen readiness.   Thyssengas is owned by Macquarie Super Core Infrastructure Fund, a fund managed by Macquarie Asset Management. Thank you to partners Sebastian Witte and Nick Szmigin for leading the international Linklaters team.    Read more 👉 https://lnkd.in/e5ZXNP-3

A cross-practice team led by high yield partner Giacomo Reali, alongside partner Luis Roth and counsel Lauren Hanley, has advised on Atos’ landmark €1.25bn high yield bond offering and its entry into a new €110m revolving credit facility. The transaction marks Atos’ return to the bond market with a first-of-its-kind financing structure, featuring new syndicated debt sitting alongside its legacy debt. Read more: https://lnkd.in/dmPBRnuA

The Energy & Infrastructure team, led by Partners Maryam Adamji and Daniel Tyrer, and Managing Associate Mariah Cartsidimas, has advised Eni and Global Infrastructure Partners on a holdco financing of more than £500m. The financing will be used to support Eni CCUS Holding Limited’s equity funding and credit support obligations and working capital requirements in connection with the Liverpool Bay CCS Project, which Linklaters previously advised Eni on in April 2025. Read more: https://lnkd.in/ey53Z3nX

We have advised ams OSRAM on the issuance of €1bn 7.25% High Yield Senior Notes due 2032 and an amendment and restatement of its €600m Revolving Credit Facility.   This issuance is the largest single-B unsecured high yield transaction in Europe in the last five years.   The Linklaters team was made up of Alexander Naidenov, Michal Hlásek, Kimberly Martin, Kristian Sutt & Alexandra Selezneva.   Find out more about this landmark deal 👉 https://lnkd.in/eW-dydDY

📢 A Linklaters team led by Simon Few, Andrew Chaplin and Joshua Rioda has advised First Investment Bank AD on two landmark capital markets transactions: the issuance of €60m Additional Tier 1 regulatory capital securities, the first internationally offered AT1 out of the Republic of Bulgaria, and €250m Senior Preferred Notes.

This week, our partners and business chiefs from across our global network came together in London for our 2026 Global Partners’ Conference.   It was an opportunity to hear directly from clients, look ahead as we launch our 2026 strategy, and explore how we can continue to work together across borders and disciplines to inspire confidence and trust in an increasingly complex world.   Thank you to everyone involved for an energising few days.

We were delighted to host the latest Women in Interconnection (WIC) networking evening at our Ropemaker office in London, featuring insightful contributions from Maryam Adamji, Partner in our Energy and Infrastructure practice at Linklaters, and Nathalie Lemarcis, Managing Director and Head of Origination and Advisory, Europe, Energy Group at Société Générale. Key takeaways: ▶️ Interconnectors are increasingly about two‑way flexibility for a renewables‑led system. ▶️ Europe is not on track for 2030 interconnection targets, significant capacity build is needed. ▶️ The scale is substantial: 167 GW by 2030, with major additional build needed beyond that; longer‑term scenarios point to 318 GW by 2040. ▶️ Financing is complex because revenues are often driven by congestion charges, exposed to market conditions and price volatility on both sides of the border. ▶️ UK frameworks (merchant vs cap & floor) continue to evolve - especially for later / more complex projects where development and construction risk is harder to support. ▶️ Regulatory reform is moving fast (DESNZ/Ofgem consultations), including strategic planning and potential new competition models. ▶️ The RAB model is gaining attention as an alternative, including the potential for payments during construction to improve bankability.   Thank you to everyone who joined us and contributed to such strong discussions and connections across the sector. For more insights, please visit our Energy and Utilities Hub: https://lnkd.in/eTAVMpib