Tiiu Lemsalu
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Tiiu Lemsalu

Senior Associate

Email

tiiu.lemsalu@aoshearman.com

Phone

+44 20 3088 1904

Offices

London

V-CARD
Tiiu advises on a broad range of derivative transactions and structured finance matters, including interest rate, FX and commodities products.
She also regularly advises on bespoke collateral structures and related documentation, and has been closely involved in recent regulatory changes impacting the market infrastructure (including regulatory margin and LIBOR transition).

Tiiu works with major international clients across jurisdictions and in multiple sectors including financial services, renewable energy, pension funds, insurance companies and many more. She has split her career between London and New York, and has deep industry knowledge across key jurisdictions.

Expertise

Industries

Experience

Representative matters

  • Sponsor consortium (Carlyle, JLC Infrastructure, Ullico and Ferrovial) on the hedging arrangements pertaining to the USD9.5 billion transaction for developing, constructing and operating the new terminal one at John F. Kennedy Airport in New York City. The deal was the largest single-asset project financing deal in U.S. history and was supported by A&O teams across New York and Washington D.C.
  • Various financial institutions (including Goldman Sachs and Bank of America) on the implementation of uncleared margin rules and negotiation of bilateral collateral documents with counterparties across multiple Phases. This post-G20 change to the operation of uncleared derivatives markets has had a significant impact on all market participants.
  • Chesapeake Energy on the hedging and collateral aspects of its merger with Southwestern Energy of approximately US$24 billion. The strategic combination created a premier energy company (“Expand Energy”) uniquely positioned to deliver affordable, lower carbon energy to meet growing demand.
  • A group of international and US-based hedge providers on a project financing package of over US$3 billion to finance the Empire Wind offshore windfarm, the second major offshore windfarm to achieve financial close in the US. The project is being developed by Equinor and represents one of the largest investments in a single renewable energy project in the US.

Qualifications

Admissions

Solicitor, England & Wales, 2017

Attorney-at-law, State of New York, US, 2020

Academic

LPC, University of Law (Moorgate), 2015

LL.B, Law (Hons), Bournemouth University, 2014

Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.