IFLR 1000
The Guide to the World's Leading Financial Law Firms

	Benoit Chambers BLC Chambers Uteem Chambers
	Appleby Banymandhub Boolell Chambers Chambers of Sir Hamid Moollan Conyers Dill & Pearman De Comarmond & Koenig Juristconsult Chambers
	Études André Robert Guy Rivalland
	Bedell Cristin C&A Law Chambers of A R M A Peeroo Collendavelloo Chambers Erriah Chambers

Since its establishment in Mauritius in 2009 Appleby has attempted to build its market share. The firm benefits from its international network, as one client says: "We've chosen Appleby because of its international reputation.... [more]

Since its establishment in Mauritius in 2009 Appleby has attempted to build its market share. The firm benefits from its international network, as one client says: "We've chosen Appleby because of its international reputation. We have used Appleby before quite often and have had good relationships with their law firm." Peers also recognise the firm's international strength: "Appleby has worked with a lot of international clients and we see them quite often in transactional work. It is surely one of the major firms which handle transactional work in Mauritius now," says one.

Clients do point out though that they would prefer to see a higher level of senior partner involvement on transactions and an improvement in response times, which would improve quality and enhance the firm's communication with clients. The firm has however been credited for being cost-effective and commercial as one client says: "They give quick and commercial advice. They are also quite cost effective in the various transactions they've done for us."

Deals
Appleby's practice reflects its focus in serving international clients investing into Africa and Asia through Mauritius. In the last year, managing partner Malcolm Moller acted as local counsel to a consortium of banks, led by Barclays Capital, Bank of America Merrill Lynch, JPMorgan and Deutsche Bank, on a pre-payment of $600 million of an original $1.9 billion six year high-yield debt financing by Indonesian miner PT Bumi Resources (Bumi). The loan was initially granted by the China Investment Corporation (CIC) and the deal has reduced Bumi's interest repayments by $72 million annually.

Moller led another significant deal advising on the establishment, registration, and launch of African Equity Partner 1, a private equity fund. The value of the fund is estimated at $500 million and its purpose is to make material unlisted equity and equity-related investments in Southern African companies with an emphasis on South Africa.

Another highlight saw Gilbert Noel act for RascomStar-QAF, a Pan-African satellite operator, on a $111 million common terms agreement with a consortium of banks to finance the launch of a satellite covering the African region. The finance parties include the African Development Bank, Banque Ouest Africaine de Developpement, Banque de Developpement des Etats de L'Afrique Centrale and the Libyan Foreign Bank.

[hide]

	Appleby Law Chambers of Francis Chang-Sam Law Chambers of Kieran Bhogilal Shah Pardiwalla Twomey Lablache
	Chetty & Hoareau Chambers Frank Ally Intershore Chambers

Appleby is by the far the biggest and most interconnected firm in the Seychelles. With offices in all the major offshore centres, the firm is well placed to offer clients guidance and options in terms of which jurisdiction would best suit their needs.... [more]

Appleby is by the far the biggest and most interconnected firm in the Seychelles. With offices in all the major offshore centres, the firm is well placed to offer clients guidance and options in terms of which jurisdiction would best suit their needs.

The team in Seychelles is headed up by Malcolm Moller and last year expanded with the hires of Phillip Norah, a senior associate from Sullivan & Cromwell and Juliette Butler an associate from Rawlins Davy.

Deals
This year senior associate Phillip Norah is the up and coming star who single-handedly took over some of the firms major deals. For example, he advised PT Berau Coal Energy on the $500 million 7.25% guaranteed senior secured notes due 2017 issued in March 2012 in the Rule 144a private placement market.

In bank lending, the firm acted as Seychelles counsel to international lenders. An example was China Development Bank Corporation's loan facility of $600 million to mining company to PT Bumi Resources, as part of the refinancing of PT Bumi Resources' existing credit facilities.

In a similar deal, Norah acted for the African Development Bank in relation to the €8.5 million loan to Seychelles Cable Systems Company, which is part of the financing of the Seychelles Eastern Africa Submarine Cable System, a project that will bring telecommunications improvements to the country.

[hide]