Throughout a career spanning more than two decades, Mr. Vebman has worked on some of the largest, most innovative and high-profile transactions involving equity-linked and other derivative financial products. Mr. Vebman’s experience includes representing Fortune 100 corporations, including Pfizer, Gilead and General Motors; major investment banks, including Citi, Credit Suisse, Goldman Sachs, J.P. Morgan, Jefferies, Morgan Stanley, Nomura, Société Générale and RBC, among others; major funds and other asset managers, including Blackrock and Fortress; and numerous other clients in connection with offerings of convertible, exchangeable and other equity-linked securities, equity units and other hybrid securities, including associated hedging transactions and stock borrow facilities.
He also has advised clients on other financial products, including tax-driven structured products; over-the-counter derivative products, such as accelerated share repurchase programs, monetization, hedging and other equity derivative transactions; interest rate and currency hedging transactions, including deal-contingent hedging transactions; other financial derivative products and ISDA matters; and repurchase and reverse repurchase transactions. Mr. Vebman also has experience with traditional corporate financing transactions, including public and private equity and debt offerings and securitizations of various financial assets, such as collateralized debt and bond obligations, securitizations of credit card receivables and mortgage-backed securities, among others.
Under his leadership, the Skadden Derivatives Group repeatedly has been ranked as a market leader, with extensive experience representing corporate clients and other issuers and end users of derivative financial products. Skadden frequently has been ranked as the top law firm (by volume or number of deals) in representing issuers in connection with equity-linked securities, such as convertible bonds, and associated hedging transactions, all of which Mr. Vebman has been personally involved in. He also maintains a significant investment banking representation practice. His representations include:
- the largest-ever liquid yield option notes offering;
- several of the largest convertible bond offerings and related call spread transactions, including EMC’s $3.45 billion convertible senior notes and related derivatives, Gilead Sciences, Inc.’s $2.2 billion convertible senior notes and related derivatives, and Becton Dickinson’s $2.25 billion mandatorily convertible preferred stock;
- several of the largest structured margin loan facilities secured by publicly traded securities;
- the issuer of the first callable perpetual dual-currency notes;
- the first margin loan by a registered investment company;
- the first convertible preferred equity units, which received the International Financing Review’s (IFR) Americas Structured Equity Issuer Deal of the Year award;
- the first contingent convertible units, which also received IFR’s Americas Structured Equity Issue Deal of the Year Award;
- over 100 convertible and exchangeable note offering transactions, many of which involved associated derivatives;
- numerous accelerated share repurchase programs, in an aggregate amount of tens of billions in U.S. dollars, many of which introduced unique and novel features;
- the first variable prepaid forward transaction structured as an initial public offering;
- the largest total return swaps on debt portfolio of approximately $10 billion; and
- several dealers in novel repurchase transactions with a sovereign.
Mr. Vebman also is a member of Skadden’s Capital Markets Group, leading the firm’s Israeli practice. Born and raised in Israel, he has significant experience with Israeli matters, including public offerings, mergers and acquisitions, financing, regulatory and general corporate matters, among others. His high-profile representations include advising the underwriters in the largest-ever Israeli IPO by Mobileye. He also counseled, among others, the Israeli Securities Authority and the Tel Aviv Stock Exchange on various matters.
Mr. Vebman has been recognized as a leading practitioner in a number of areas. According to leading industry publications, clients have noted that he “brings the best in-depth knowledge of current regulation interpretation along with extensive knowledge of previously executed transactions going back decades,” “has mastered the art of making complicated things look digestible for the client so they can understand the full picture,” “is extremely knowledgeable yet pragmatic in his approach ... the work product is always excellent.”
He repeatedly has been selected for inclusion in Chambers Global: The World’s Leading Lawyers for Business, Chambers USA: America’s Leading Lawyers for Business, The Legal 500 U.S. and IFLR1000.