Bio

Steven Rees Davies is a partner within the Corporate department and Joint Global Head of Technology & Innovation, specializing in Fintech and the Digital Asset Business Sector. He practises in the areas of corporate finance, capital markets, regulation and intellectual property, and has represented clients in a wide variety of cross jurisdictional corporate transactions and restructurings as well as private and public offerings, placements and introductions to the Bermuda, London and New York stock exchanges.  He is also frequently involved in multinational joint ventures and private equity projects.

His Bermuda and international corporate and regulatory experience covers telecommunications, technology, pharmaceutical, energy, inter-governmental and software industry sectors as well as corporate governance and constitutional advisory work.  Steven is particularly renowned for his technical expertise in the area of international regulation which extends to international treaties, tax information exchange agreements, FATCA and the Common Reporting Standard.

Steven is consistently ranked by Chambers Global since 2015, as a ´Leader in his Field´, for Corporate and Finance and acknowledged for his broad corporate practice with particular experience regarding the telecoms industry. In 2019 he is recognised for his advice to clients spanning fintech, capital markets and intellectual property, and he is said to be “extremely knowledgeable, responsive and helpful.” Steven is also consistently recommended by Legal 500 Caribbean where he is described as “always available and responsive” and is listed as a ‘Rising Star’ in both the Banking & Finance and Capital Markets categories in IFLR1000 since 2015. Steven was also  chosen by Who´s Who Legal as one of the world´s leading practitioners in the M&A and Governance field for 2019.

In addition to being called to the Bar in Bermuda, Steven has been called to the Bar of New York (US Southern District) and admitted as a solicitor in England & Wales (non-practising).  He is also a member of the Bermuda Bar Association, the Law Society of England and Wales and the New York Bar Association.

Steven has authored and contributed to numerous articles and legal publications on points of Bermuda law, and has been invited to speak or act as a panel member on topics relevant to his practice at a variety of public and private events.

Recent contributions include:

Expertise:

Steven´s recent transactions include:

  • Southern Cross Cables Limited, advised on the Southern Cross NEXT subsea cable project. Southern Cross NEXT will provide data connectivity between Sydney, Aukland, and Los Angeles and is scheduled for completion by January 2022.
  • Siris Capital Group LLC, advised in relation to the acquisition of Travelport Worldwide Limited by Siris Capital Group LLC and Elliot Management Corp.
  • Belmond Ltd., advised Belmond Ltd. on its acquisition by LVMH Moët Hennessy Louis Vuitton SE (LVMH).
  • Hyatt Hotels Corporation, advised on the Bermuda aspects of its acquisition of Exhale, the wellness resort and spa company.
  • Crown Holdings, Inc., advised a global leader in consumer packaging, in connection with its acquisition of Signode Industrial Group Holdings (Bermuda) Ltd., a leading global provider of transit packaging systems and solutions, from The Carlyle Group, in a cash transaction valued at USD 3.91 billion subject to adjustment.
  • XBTO, advised on the successful application for a Digital Asset Business (DABA) Licence as a Digital Asset Service Vendor (Market maker for digital assets) under the Digital Asset Business Act which represented the third DABA licence to have been issued by the Bermuda Monetary Authority.
  • America´s Cup Event Authority (Bermuda) Ltd.,  provided ongoing charitable legal advice to the America’s Cup Event Authority (ACEA) in relation to the application of the Charities Act 2014, as it related to its affiliated charitable organization, known as “Endeavour Community Sailing”.
  • C&J Energy Services Limited, advised and represented C&J Energy Ltd and C&J Corporate Services (Bermuda) Ltd in respect of parallel provisional liquidation proceedings in Bermuda and chapter 11 proceedings in the United States of America.
  • L. F. Wade International Airport – The Financial Investors, advised on the Bermuda law relating to the financing of the redevelopment of the L. F. Wade International Airport in Bermuda (Redevelopment) pursuant to which the clients subscribed for USD 285 million of fixed coupon notes.
  • Major UK listed bank, advised a major UK listed bank (in its capacity as arranger, original lender, agent and security agent) on a USD 150,000,000 amendment and restatement agreement made between the bank and a major Bermuda based insurance group.
  • One Communications Ltd. (One), advised One, a publicly traded investment holding company (BSX:ONE.BH) in a cross border refinancing transaction with HSBC Bank Bermuda Limited.
  • IHS Inc., a dvised in relation to the Bermuda elements of the proposed merger with Markit Ltd, a leading global provider of financial information services, valued at USD 13billion.
  • Triton Container International Limited,  advised in relation to its merger with TAL International Group, Inc., a NYSE-listed, US company.  The transaction creates the world’s largest lessor of intermodal freight containers with revenue generating assets valued at $8.7 billion.
  • Waterloo Investment Holdings Limited, acted in connection with the issuance of 397,277,657 new ordinary shares with a par value of USD 0.50 each as at 21 July 2016 by way of a rights issue.
  • El Tejar Limited, advised in respect of a major equity offering to its shareholders in order to recapitalise the Company by reducing gross leverage under certain convertible notes, the prepayment of indebtedness and for additional working capital.
  • KeyTech Limited, advising in connection with a multi-layered transaction that included the acquisition of the remainder of Bermuda Digital Communications Ltd. (CellOne) and the acquisition by Atlantic Tele-Network, Inc., of a controlling interest in Keytech.

Education:

Oxford Brookes University (England)

College of Law, Chester (England)

“We needed to get this deal done right first time and we did. We couldn’t have done it without him [Steven].”

Chambers Global
2016

Updates

25 Nov 2019 | News

Bermuda Updates Outsourcing Guidance

On 28 June 2019 the Bermuda Monetary Authority (BMA) released Outsourcing Guidance Notes (Guidance N...

14 Oct 2019 | News

FinTech developments in Bermuda

October 2019 has been a busy month for the FinTech sector in Bermuda with the inaugural Bermuda Tech...

Contributors: Josephine Noddings
10 Oct 2019

Appleby Bermuda to sponsor and speak at inaugural Bermuda Tech Week

Appleby Bermuda is pleased to be sponsoring and speaking at Bermuda Tech Week, taking place 14 to 18...

Contributors: Matthew Ebbs-Brewer
4 Oct 2019 | Deals

Appleby Bermuda advised on Southern Cross NEXT subsea cable project

Appleby advised the Southern Cross Group of Bermuda companies in respect of all aspects of Bermuda l...

Contributors: Andrew Kuzma, Sarita Ebbin
29 Jul 2019 | Deals

Appleby assists global crypto investor XBTO on acquiring their Digital Asset Business Licence in Bermuda

Appleby acted as XBTO’s Bermuda counsel on their application for a Digital Asset Business Licence ...

Publications

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