Samet, Steinmetz, Haring, Gurman & Co.
Banking & Finance

Banking & Finance

We provide a diverse array of legal services to investment banks, commercial banks, insurance companies, financial institutions, holding companies, lenders and other financial intermediaries both in Israel and abroad.

Since the introduction of the reform of the Israeli financial markets whereby the government ceased to issue subsidized government bonds to institutional investors, these same institutional investors have utilised our services in all of their investment activities. As a result of this, the institutional investors have acted not only as investors but also as lenders, creating finance packages for the largest infrastructure, telecommunication and real estate transactions in Israel.

We have represented Israel's largest pension funds in the creation  of a financial package for Israel's largest infrastructure operation. In addition, we have advised on the financial structure for the refinancing of the shareholders' stake in Bezeq on its privatisation and for the Delek Group on two of its most complex financial structures, in Canada and the US.

We have also represented a foreign company which was one of the first to negotiate with the Bank of Israel, the regulator of the Israeli banking market, for the right to trade in foreign securities outside of the Israeli banking system. Not only did this necessitate a thorough working knowledge of the Israeli banking laws and regulations but this, together with various other transactions, enabled us to forge a close working relationship with senior figures in the Bank of Israel.

We also represent a number of pension funds, provident funds and insurance companies, the largest in the Israeli market. We advise on investments made and their fundraising activities and the issuance of bonds and other financial documents and products.

In addition, we handle the legal work associated with the establishment and operation of mutual funds and we are frequently retained by underwriters and banks for the purpose of performing legal due diligence exercises in this regard.

We have also made a name for ourselves in the creation of structured financial products. We were one of the first to deal with various securitisation issues in Israel and our involvement through the creation of structured products has led to accumulated expertise in the field over the last 10 years.

Our experience includes completing the first transaction which involved raising debt for a subsidiary of an Israeli municipality on the Capital Market through the issuance of bonds to institutional investors. Such experience includes representing Bank Hapoalim over the past three years in an attempt to introduce the first ever Residential Mortgage Backed Security (RMBS). The process involved working with various governmental departments which are vital to the changes that are required to the applicable laws and regulations.