Tammy Richardson-Augustus is a partner and a member of the Banking and Asset Finance team within the Corporate department. She qualified in 1997 and became a partner in 2007. Tammy joined the group as an associate in the Corporate department in 1998, practising securities and funds work in both the Bermuda and Hong Kong offices of the firm. She then enjoyed some time as a stagiare in the eCommerce and general Corporate department of Linklaters in London.
Tammy maintains a diversified business transactions practice, with emphasis on domestic and international mergers and acquisitions, joint ventures, capital markets and securities, secured and unsecured lending transactions and general corporate governance matters. She has extensive experience working with clients in a wide range of industries, including in energy, oil and gas exploration, and maritime shipping.
Tammy has been awarded many professional accolades throughout her career. She is recognised as a ‘Leading Individual’ in the Banking, Finance and Capital Markets category and consistently recommended in the Corporate and Commercial category by Legal 500 Caribbean. She was recognised for her work providing Bermuda law advice to Inkia Energy and IC Power Holdings (Kallpa) on a credit facility obtained by a Peruvian subsidiary of the companies. In 2018 she was recognised for assisting Global SC Finance IV, a subsidiary of marine container leasing company Seaco, with all the Bermuda aspects of its private placement of $294m of fixed rate asset-backed notes.
Tammy is a member of the Bermuda Bar Association and is a justice of the peace as well as a founding member and legal counsel of WISTA Bermuda, Bermuda chapter of Women in Shipping and Trade Association and BERMEPA (Bermuda Marine Environmental Protection Association Ltd.), a chapter of NAMEPA (North American Marine Environment Protection Association.)
- Bermuda companies and public information – The Royal Gazette, Legally Speaking – March 2019
Examples of recent client transactions include:
- Seadrill, advised the coordinating committee representing a bank group holding USD 7.4 billion in secured debt, on Seadrill Limited’s successful completion of its USD 10 billion restructuring plan pursuant to its chapter 11 plan of reorganisation. This high profile restructuring was one of the most complex restructurings in history and the largest ever in the offshore drilling sector.
- The Bank of N.T. Butterfield & Son Limited Mandatory Early Redemption of all outstanding 8.00 % Non-Cumulative Perpetual Limited Voting Preference Shares Guaranteed by the Government of Bermuda, Butterfield retired the entire Preference Share issue with a payment of $215.8 million (comprising principal and current dividends of $186.5 million and a make-whole premium of $29.3 million representing the present value of future dividends that Preference Shareholders would have received through 22 June 2019 maturity date).
- Very large global multinational oil and gas company, provided Bermuda law advice relating to potential restructuring plans and Bermuda schemes of arrangement in a complex group wide multi-national debt restructuring matter.
- HSBC Securities (USA), advised on matters of Bermuda law in connction with a USD 665,000,000 cash tender offer and initial purchase of a new issue of sovereign securities.
- Nomura International plc, advised on the €320million Senior Secured Term and Revolving Facility comprising a €250million term loan and a €70million revolving credit facility and related security granted to GVC Holdings PLC to refinance the one year €250million loan facility granted by Nomura.
- Global SC Finance IV Limited, advised in connection with a private placement of $294 million of fixed rate asset backed notes for one of the world’s leading marine container leasing companies.
- B Lab, provided Bermuda law advice on the potential availability of B Lab certification to Bermuda organisations.
- Energy XXI Ltd. (NASDAQ:EXXI), advised on the adoption of a Net Operating Loss Shareholder Rights Agreement designed to preserve substantial tax assets of its U.S. subsidiaries with a value of USD 1.1 billion.
- Acted on an innovative combined debt capital markets and restructuring of existing senior lending facility deal for an LSE main market listed group. The deal value was in excess of USD 300 million and reflects increased activity in the African resources sector.
- Inkia Energy Limited, provided Bermuda law legal advice to Inkia Energy Limited and IC Power Holdings (Kallpa) Limited in connection with a credit facility obtained by a Peruvian subsidiary of the companies with a matter value of USD 300,000,000.
- Provided Bermuda law advice to a large producer and marketer of fresh fruit and vegetables, in connection with its entry into a new credit facility, which consists of a $150 million revolving credit facility and a $500 million term facility with provisions for additional incremental loans.
- Acted for Initial Purchasers in the USD 750 million sovereign debt offering by Government of Bermuda (4.854% senior notes due 2024). The transaction represents the largest ever sovereign bond transaction and lowest ever bond spread for the Government of Bermuda, dual listed on Bermuda Stock Exchange and Luxembourg Stock Exchange.
- Advised in respect of the delivery and registration under the laws and flag of Bermuda with the Department of Administration of one semisubmersible accommodation and construction support vessel designed to operate in harsh environment and assisting with the registration of a first priority and a second priority mortgage thereon.
- Cougar Bidco London Limited (vehicle for family trusts of Sahid Khan)Acquisition by Shahid Khan, owner of the Jacksonville Jaguars and CEO of Flex-N-Gate LLC of Fulham Football Club, from Mohamed Al-Fayed. Appleby advised on the Bermuda law aspects of the acquisition of the re-acquisition corporate restructuring and the acquisition of the Bermuda holding company.
- Acted for the Bank of NT Butterfield & Son Limited (initial purchaser) in respect of the Government of Bermuda BD 50 million 4.750% Senior Notes due 16 December, 2023
- HSBC Securities (USA) Inc. (initial purchaser) acted in the USD 475 million Government of Bermuda bond issue (of 4.138% senior notes due 2023) at the time the country’s lowest fixed-rate bond yield offering ever. The Bermuda government will use the net proceeds from the debt offering to repay indebtedness, to finance capital expenditure programs and for other budgeted governmental purposes.
- Brunswick Rail Limited, a Bermuda-domiciled holding company, inrelation to the issuing of USD 600 million Eurobonds launched by Brunswick Rail Finance Limited, a wholly owned subsidiary of Brunswick Rail Limited and special purpose vehicle registered in Ireland for the purpose of issuing the notes
- Ecopetrol S.A. in relation to its USD 690 million acquisition of Propilco (the largest producer of polypropylene and petrochemical manufacturer in Colombia)
Saint Mary’s University, (Canada)
University of Bristol (England)