Banking & finance
There is an opportunity for businesses to buy assets or equity before values increase, but the challenge lies in financing the transaction. When you are operating in challenging and changing times, it’s important to get confident and clear advice.
Speechlys is recognised for, and proud of, its pragmatism and client-focus; our strong banking and finance group is known for providing forward-thinking innovative legal advice. Legal 500 describes us as an “excellent’ team … a good alternative to the larger City firms… providing ‘a high quality of service with a constant eye on pragmatic solutions.”; and as having “fantastic response times and the best business acumen“.
The team is very experienced and advise on the whole range of financing transactions including securitisation and structured finance, real estate and leveraged finance. We have a strong and balanced client base, acting for bank and borrower clients.
We advise banks, institutional investors, corporates, hedge funds, limited partnerships, investment trusts and structured funds. Working closely with our colleagues in tax, real estate and dispute resolution we help our clients achieve the results they need; whether that be around structuring real estate backed debt, advising on debt financing structures, ensuring tax efficient transactions or resolving banking or finance related disputes.
In the current market, you need lawyers who can deliver a fully integrated service. Our team has the capability and the resources to advise on some of the most complex transactions to a very tight timescale and at the same time provide the hands-on, tailored support that you need. We work with clients across a range of legal disciplines, making sure you achieve the result you require.
Some examples of recent transactions include:
Offset initiatives
Advising Blenheim Capital, a leading offset services provider, in UAE offset structure financing for two portfolios of aircraft loans of US$900m and US$480m respectively and in significant real estate development transactions. We have acted for Blenheim on the award of offset advisory contracts in other Gulf States, including in Kuwait and Oman and in Malaysia. We have advised Blenheim in relation to a large number of further offset services agreements and co-operation ventures. The offset transactions have involved structured loan finance and have been multi-party offset platforms joining a large range of multi-national manufacturers and contractors.
Structured finance
Acting for AE Global Investment Solutions Ltd (Aegis) as collateral manager on the launch of Cavendish Opportunity Investments Limited’s €1bn Multi-Issuer Secured Note Programme, a debt issuance programme listed on the Irish Stock Exchange. We have advised on series issuances of the notes since launch, including the most recent completed in 2010 for investment in European asset-backed securities.
Refinancing and US bond issuance
Acting for the Howard de Walden Estate on the restatement of its £250m medium term borrowing facilities in conjunction with the Estate’s US$100m and £25m long term bond issuance into the US market. This is one of the first US bond issuances by a UK property group post-2007. The transaction was successfully completed in 2010.
Structured mezzanine and senior financings in real estate
Acting on the financing of a major extension of a leading London hotel including complex intercreditor arrangements with existing bank lenders. Acting for mezzanine lender real estate funds in a variety of business sectors. We have advised bank and borrower clients (UK and overseas) in a wide range of real estate and corporate borrowing transactions, in healthcare, hotel and office development, urban regeneration and business parks.
NHS LIFT schemes
During 2010, we have acted on the financing of the development of several NHS Local Infrastructure Finance Trust (LIFT) schemes, including the £31m financing of the redevelopment of a community hospital in one London Borough to provide state-of-the-art primary care alongside intermediate care, occupational therapy, outpatients and diagnostics. This scheme involved use of a Land Retained Agreement which had significant implications for the security requirements of the funder and finance documents generally. We have completed other LIFT schemes for primary care facilities in several further London Boroughs and also in the North West.