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Yannis Manuelides

Partner

London

Yannis Manuelides

Partner

London

Yannis is a London-based finance partner. He qualified in England and France (but no longer practices in France). He has recently been mandated to head Allen & Overy's Sovereigns and International Institutions practice. Yannis has over 30 years' experience in banking and finance transactions including project, corporate and leveraged finance, debt restructurings, securitisations and capital market transactions.

Yannis led the legal team which acted for the Steering Committee of Private Creditors of Greece on the EUR206bn debt restructuring of the Hellenic Republic (PSI). Prior to the PSI he helped the Hellenic Republic with the audit of its debt liabilities and also assisted in the Hellenic Republic's discussions with the Troika on the establishments of the Privatisations Fund and related policy. Subsequently, he assisted in the establishment of the long term Asset Development Fund of the Hellenic Republic. Finally, he worked on a number of ancillary transactions required to be put in place as a precondition for rescue packages being made available to Greece.

Over the years Yannis has acted in a number of structured financings for supranationals and Eurozone sovereigns. Yannis has recently acted for clients in considering specific proposals for a new Eurozone sovereign debt architecture. Currently, he is working with clients on new types of financing that will enable sovereign borrowers to mobilise private and official sector finance towards sustainable development goals.

Yannis is a member of an ad hoc working group on GDP-linked bonds comprised of market participants and Bank of England economists to design market appropriate GDP-linked bonds for sovereigns.

Yannis is a contributor to the current debates on sovereign and bank debt through advice, membership of special committees, lectures and thought-papers. He is also a member of IIF's Committee on Sovereign Risk Management and Principles Consultative Group, the Sovereign Debt Committee of the International Law Association, and of the Sovereign Debt working group of the Financial Markets Law Committee.

Published work

Publications on sovereign debt:

Yannis co-authored with other world leading sovereign debt experts and commentators a handbook "Understanding Sovereign Debt – Options and Opportunities for Africa". The handbook is an accessible, practical legal guide for public debt managers and others involved in public financial management.

Yannis' publications and contributions to joint papers on sovereign debt also include the following: 

Podcast:

News & insights

Publications: 27 JUNE 2019

Using the local law advantage in today’s Eurozone

Partner Yannis Manuelides sets out the difficulties that could arise should a member of the Eurozone ever need to restructure its sovereign debt. This paper considers the use of domestic law to…

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Publications: 16 MARCH 2018

GDP-linked bonds: one of the greatest innovations in sovereign debt in modern times?

A team from Allen & Overy, led by partner Yannis Manuelides and senior associate Peter Crossan, has been involved in an exciting initiative to develop a model set of terms and conditions, or “term…

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LGBT

Publications: 20 FEBRUARY 2015

Sovereign debt and eurozone developments

The daily developments in the eurozone present significant challenges to senior management and legal teams. The current focus is, of course, on events in Greece and in particular the fraught…

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Dry cracked earth

Blog Post: 18 NOVEMBER 2021

How COP26 will be relevant to future financings: Reflections on COP

Following all the hope, the pictures of dignitaries drinking Irn Bru and the hype surrounding COP26, one of the key questions is whether the negotiations will make a tangible difference to the…

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Office

London

Allen & Overy LLP
One Bishops Square
London
E1 6AD

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Qualifications

Professional

Admitted as solicitor, England and Wales, 1991 

Admitted as avocat à la cour, France, 1994 (no longer practicing in France)

Academic

BA, Philosophy, Princeton University, 1980

MA, Philosophy, The University of Chicago, 1983

BA, Law, University of Cambridge, 1985

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