Thomas Vogel is a partner in the Corporate Department of Latham & Watkins' Paris and Frankfurt offices. He has significant experience in cross-border capital markets, structured finance, and derivatives.
Mr. Vogel regularly acts for global financial services firms,
investment managers, hedge funds, sovereign funds, and UHNW individuals. He
advises on structured finance transactions; alternative investment structures
across asset classes including structured strategic equity solutions;
structured fixed-income transactions (delivered in synthetic format through
derivatives instruments or in funded format through debt securities); strategic
contingent hedging transactions; regulatory capital transactions in the context
of balance sheet optimization structures; synthetic credit, fund, energy,
catastrophe, and longevity derivatives; structured repo; and stock-lending
Mr. Vogel also routinely advises corporate issuers and underwriters on international securities offerings, US private placements, and 144A resales in the context of standalone debt or hybrid offerings (including equity-linked offerings in the form of convertibles or exchangeables), EMTN or USMTN programs, securitizations (trade receivables), and collateral loan obligations (CLO) transactions.
He advises clients on financial regulatory issues (including under EMIR, MIFID, AIFMD, and Dodd-Frank) and pre-contentious financial disputes in the context of mediation, arbitration, and litigation procedures, as well as on internal derivatives compliance programs and derivatives clearing documentation.
Mr. Vogel has acquired years of transactional experience in New York, London, Hong Kong, and Tokyo both as a private practitioner (with a Magic Circle firm) and senior in-house counsel (with a leading US investment bank in New York). In recent years, he has represented clients in multi-billion dollar structured transactions in Europe, Asia, and the Middle East.
Mr. Vogel is a member of the Frankfurt Bar Association.
Interviewees deem Mr. Vogel to be a "very knowledgeable" practitioner. Chambers Europe 2020
Mr. Vogel is recognized as a Leading Individual by The Legal 500 EMEA 2019.
Sources describe him at "highly experienced" and "committed." The Legal 500 EMEA 2017
Mr. Vogel's representative experience includes advising:
- French corporate in €8 billion contingent FX forward derivatives hedging strategy for the refinancing of a major foreign acquisition (2016)
- Sovereign investor in a US$300 million securitization of hedge fund and private equity fund interests for the purpose of securing a margin credit facility (2016)
- French corporate in €50 million funding equity collar in connection with a stake build in a Dutch-listed company (2016)
- French corporate in setting up its inaugural €500 million trade receivable securitization programme (2015)
- French investment fund in the issuance of €200 million overcollateralized secured bonds exchangeable for ordinary shares of a publicly-listed company (2015)
- Sovereign investor in a US$220 million margin loan facility on reverse convertible notes into US equities (2015)
- Sovereign investor in a US$1 billion credit-linked and basked-linked leveraged structured note involving exposure to a diversified portfolio of reference entities and an actively managed multi-asset basket (2015)
- French corporate on the issuance of its inaugural Chinese renminbi-denominated bond on the Taiwanese market (2015)
- German bank on its inaugural US$140 million cross-currency deal contingent swap in the context of a cross-border acquisition (2014)
- French corporate in connection with setting up a derivatives compliance program for NFC+ in the context of the new regulatory obligations relating to the clearing of derivatives under EMIR and Dodd-Frank
- US and Thai joint bookrunners in connection with a US$290 million exchangeable bond transaction for major Thai food manufacturer (2014)
- Sovereign investor in connection with a US$300 million managed yield enhancement solution transaction involving exposure to a multi-asset synthetic trading long/short strategy delivered to investor via a structured note (2014)
- Middle East corporate in connection with implementing a US$1 billion derivatives hedging strategy with 18 banks (2014)
- French bank on a €1.2 billion swap-based securities carrying structure in the form of a prepaid forward in the context of the sale of a client stake in French food retailer (2012)
- French covered bond issuer on the establishment of a US$10 billion USMTS Program for the issuance of covered bonds under Reg S and 144A (2011)
- Luxembourg bank in a €500 million liquidity swap under an AFTI collateralized lending facility (2011)
- French covered bond issuer in its inaugural US$2 billion issue of covered bonds under 144A on the US markets (2010)
- Luxembourg bank in the establishment of a €1 billion revolving lending facility pursuant to a GMSLA framework agreement (2010)
- French bank in two €41 million credit-linked notes linked to notional “pay as you go” credit default swap transactions on mortgage-backed securities (2009)
- French asset manager in connection with longevity risk derivatives transactions and natural catastrophe risk derivatives transactions