Banking and finance in South West

Burges Salmon LLP

Led by Andrew Eaton, Burges Salmon LLP‘s Bristol-based banking and finance team specialises in complex transactions for clients from a range of industries, with transport and renewable energy projects two notable recent areas of focus for the practice. Richard Leeming specialises in real estate finance, while Graham Soar‘s recent lender-side advise on secured loan facilities for renewable gas infrastructure fund is testament to his transactional capabilities. Rachael Ruane handles a wide range of corporate finance matters, often with a cross-border element. Katie Allen leads the team’s hotel financing work, while Victoria Allsopp brings her energy and infrastructure experience to bear on a number of high-profile matters for the firm.

Practice head(s):

Andrew Eaton


Other key lawyers:

Richard Leeming; Graham Soar; Rachael Ruane; Katie Allen; Victoria Allsopp


Testimonials

‘Calm can-do approach to project financing.’

‘Clear explanations and good availability. All work carried out efficiently and with a good sense of humour. They are very easy to get on with on a personal level which is critical in building relationships.’

‘The team is well resourced across RE asset classes. They have a breadth of knowledge and I find them practical and commercial when dealing with issues that inevitably surface.’

‘I especially like the culture of the firm. They come across as collegiate and collaborative which is a USP in the legal market.’

 

Key clients

Investec Bank plc


Whiteoaks Capital Limited


Alma I SICAV


Cardiff Parkway Developments Limited


New Road Solar Limited


Work highlights


  • Advising Cardiff Parkway Developments Limited on its development of a £120m mainline train station between Cardiff and Newport.
  • Advised Investec Bank on the senior secured term loan facilities made available to SWEN Impact Fund for Transition (SWIFT).
  • Acted for a subsidiary of Bluefield Solar Income Fund as borrower on a £200m revolving credit facility.

Osborne Clarke LLP

Osborne Clarke LLP's strong ties with both large and challenger banks ensures that the team is frequently active across major multi-bank mandates, acting on the lender and borrower side for clients from sectors including energy, tech and financial services. Practice head Tom Bussy is highly experienced in corporate lending, notably for digital businesses. Caroline Saul has developed a strong focus on decarbonisation and the financing of renewable energy transactions. Tom Berisford‘s experience extends to leveraged finance and distressed debt trades. Andrew Parsons, who is strong on European real estate finance, is another name to note.











Practice head(s):

Tom Bussy


Other key lawyers:

Caroline Saul; Tom Berisford; Andrew Parsons


Testimonials

‘ Great project management skills – Good foresight of what is required to complete the process – Strong legal matter knowledge – There are strong internal connections at OC, which makes bringing in subject-matter experts in the UK or abroad very easy.’

‘Excellent team, with good resource at cheaper rates.’

‘Andrew Parsons is building a very impressive business. Andrew gets to grips with the most complicated of matters quickly and provides relevant and commercial advice. A rising star!’

 

Key clients

NatWest


HSBC UK Bank plc


Silicon Valley Bank


Liberis Limited


Anschutz Entertainment Group (AEG)


Santander UK


Foresight Solar Fund


Synova Capital


OakNorth


Admiral


Work highlights


  • Advised NatWest as agent for a club of four lenders (NatWest, Barclays, Bank of Ireland and Silicon Valley Bank) in relation to the refinancing of Redcentric.
  • Advised Blackmead (a fund managed by Foresight) in its provision of a senior debt facility to Impact Lending, a specialist property lender.
  • Advised HSBC on financing provided to Molson Group Limited to enable Molson to acquire two complementary businesses in the US.

TLT

TLT advises across the banking and finance spectrum; project finance, sustainability linked loans and transactions for major domestic companies are all key components of its borrower-side workload. The Bristol-based team also frequently acts for lenders in the purpose-built student accommodation sector. The team is jointly led by Jon Stewart, who handles much of the firm’s student accommodation work, and clean energy specialist Gary Roscoe, who is often supported on clean energy transactions by Emily HuishSamuel Hill is singled out for his real estate finance expertise, while Oliver Swain frequently assists major clients with financings and refinancings. Project finance specialist Oliver Coad is another member of the ‘strong associate pool’ at the firm.

Practice head(s):

Jon Stewart; Gary Roscoe


Other key lawyers:

Peter Carney; Samuel Hill; Oliver Swain; Emily Huish; Oliver Coad


Testimonials

‘Easy to work with, good level of partner engagement, strong associate pool I always feel comfortable working with TLT, knowing they have covered everything off No surprises – they are quick to raise issues.’

‘I work mostly with Jon Stewart and Oliver Swain – they’re a key part of an excellent team that we trust and always provide excellent service.’

 

Key clients

Boohoo group plc


HSBC UK Bank plc


National Westminster Bank


AIB Group (UK) plc


Molson Group Limited


McCarthy Marland Limited


WH Smith PLC


Lloyds Bank plc


Santander UK plc


GRIDSERVE UK Projects Limited


Thrive Renewables PLC


Abundance Investment Ltd


Blackfinch Investments Limited


Triodos Bank UK Limited


Innova Energy Limited


SWEN IFT UK Limited


Work highlights


  • Advised Boohoo Group PLC on its syndicated £325m facility agreement.
  • Advised HSBC UK Bank plc on its £30m (plus £15m accordion) Sustainability Linked Loan facilities to TPX Impact plc.
  • Advised Santander UK on its £60m non-recourse debt facility to the UK’s leading owner and operator of battery storage, Zenobe Energy Limited.

Womble Bond Dickinson (UK) LLP

Acting for a range of lenders - including clearing banks, private equity investors and government bodies - the banking and financial services team at Womble Bond Dickinson (UK) LLP covers a variety of sectors, with real estate and third sector finance standing out as recent areas of focus. Philip Withey heads up the South West banking team from the firm’s Bristol office; he has extensive experience of advising financial institutions and energy sector players on financing transactions. Tom Caplen is well versed in real estate investment and renewable energy finance, frequently advising both lenders and borrowers in these areas. Ewelina Waigel specialises in secured lending, including negotiating syndicated multi-currency loan facilities.



Practice head(s):

John Connor; Philip Withey


Other key lawyers:

Tom Caplen; Ewelina Wagiel


Key clients

HSBC UK Bank plc


Lloyds Bank plc


Piper Private Equity


AgFe


LV=


Union Bancaire Privee, UBP SA


South Gloucestershire Council


Bank of Scotland plc


Nash Business Capital Limited


St Monica Trust


Work highlights


  • Acted for HSBC UK Bank plc on the refinance of the Gregory Distribution group from Lloyds Bank plc secured against 11 properties across the UK.
  • Acted for Lloyds Bank plc in relation to the refinance of their existing loan to three Borrowers via a loan guaranteed by a further 8 group companies with 18 obligors involved in total.
  • Advising South Gloucestershire Council in relation to its provision of loan funding to The Wave Flux Capacitor Limited.

Ashfords LLP

The varied banking work undertaken by Ashfords LLP includes acquisition finance, project finance and corporate financing; the team's varied client base ranges from major banks and independent lenders to corporate clients from sectors such as manufacturing, property investment and leisure. Rebecca Dury, whose transactional expertise extends to syndicated and bilateral financings, runs the practice from Exeter. Her colleague Clare Brewer's practice encompasses energy and infrastructure finance. In Bristol, ‘positive and proactive’ Ed Hobbs works across a wide range of lending and security work with a particular focus on venture debt. Real estate specialist James Heath extends the unit’s property financing expertise.



Practice head(s):

Rebecca Dury


Other key lawyers:

Clare Brewer; Ed Hobbs; James Heath; Jonathan Hyde


Testimonials

‘Highly skilled team. Respond to tight timescales. Good connection between the Banking and Property teams. Able to manage volume transactions.’

‘Jonathan Hyde is extremely efficient.’

Rebecca Dury gives good all-round advice.’

‘The Ashfords banking and finance team is very focused on high quality, efficient offerings to clients. The team knows the market inside and out and gets right to the heart of a matter.’

‘Ed Hobbs is like a walking archive of all UK finance transactions structures and terms. He is also always very positive and proactive.’

 

Key clients

Lloyds Bank plc


National Westminster Bank plc


Santander UK plc


HSBC UK Bank plc


Homes England


St James Place Plc


Ashford Borough Council


Form3


Exeter Finance Limited


Fox Funding LLP


Work highlights


  • Acted as lead drafting counsel for St James Place PLC on the refinancing of their £345m revolving credit facility.
  • Acted for Ashford Borough Council on a cross-departmental basis on a financing and investment with a value of over £100m of a brownfield site in Kent.
  • Advised Lloyds Bank plc on its £13 million funding of a South West based hotel group.

Charles Russell Speechlys LLP

Charles Russell Speechlys LLP‘s banking and finance team is active across loan and security transactions, including major loan facility agreements and an array of international deals – extending to Shariah-compliant financings for Middle East banks. Noted for his broad international coverage, practice head Richard Norton regularly acts for listed companies and hedge funds, while Naomi Nettleton is well-placed to handle complex commercial property transactions. Daniel Moore leverages his expertise in insolvency and distressed situations to advise banks on a range of related issues including freezing orders and refinancings. Edward Robinson and Matthew Hobbs are further key contacts.

Practice head(s):

Richard Norton


Other key lawyers:

Naomi Nettleton; Daniel Moore; Edward Robinson; Matthew Hobbs


Testimonials

‘Breadth and depth of expertise in handling complex cases worldwide.’

‘Richard Norton is a stand-out partner; he takes the time to understand what is required to deliver a solution.’

‘Richard Norton and team offer an outstanding service. Legally excellent of course, but business savvy, practical, result-oriented, and tenacious; all qualities for successful business engagement.’

‘Strong ability to close transactions within a short period and provide full dedication amongst the team.’

‘Ability to take commercial approach on transactions and be at the end of the phone whenever is required.’

 

Key clients

Awal Bank B.S.C


Trifast plc


Bank of Cyprus


Credit Suisse


Royal Bank of Canada


EFG Private Bank Limited


National Bank of Kuwait


Clydesdale Bank


Ahli United Bank


Cynergy Bank


Work highlights


  • Advising Telecom Development Company Afghanistan on a further restructuring of the loans from IF involving complex negotiations and release of security over assets in Afghanistan.
  • Advising Tsokkos Hotels Public Limited on amendments/restatements of a loan facility with Bank of Cyprus to allow for construction of new hotels.
  • Advised Topland Jupiter Limited on three real estate investment finance transactions with an aggregate value of £33bn.

DAC Beachcroft LLP

DAC Beachcroft LLP advises across a broad range of loan products, with specialist expertise in real estate finance, receivables finance, and growth capital. Chris Wall spearheads the Bristol-based team’s offering; the English and Hong Kong-qualified lawyer has particular expertise in financing and refinancing transactions. His colleague Michael Pearce advises borrowers on financial mandates, including development and acquisition finance. Toby Hewitt is well versed in acquisition finance. The unit’s debt transaction expertise is further concentrated by the presence of Andrew Hollier.

Practice head(s):

Chris Wall


Other key lawyers:

Michael Pearce; Toby Hewitt; Andrew Hollier


Key clients

Barwood Homes/Alteris Capital


Elder Technologies Limited


Tower Street Finance


Bewley Homes plc


Warrington Borough Council


Davidsons Developments Limited


TC Group


Boost & Co


Davidsons Property Limited


Santander UK plc


Work highlights


  • Acting for Barwood Homes and Alteris Capital in connection with their  development financing provided by Homes England (as senior lender) and Signal Capital Partners (as mezzanine lender).
  • Advised Elder Technologies Limited on the €20m growth financing provided by funds managed by IPF Management.
  • Advised Bewley Homes plc on its £110m revolving credit facility refinancing provided by Lloyds and HSBC.

Foot Anstey

The ‘strength in depth’ at Foot Anstey allows the firm to advise on a wide range on banking and finance transactions, with corporate lending, development finance and event-driven finance standing out as recent areas of focus for the team. Practice head Katie-Jane Rees’ expertise extends to leveraged cross-border transactions. Her Bristol colleague Zahir Nayani has specific expertise in Islamic finance. Toby Larkham is equipped to handle a range of real estate finance transactions, drawing on notable expertise in offshore financing structures.

Practice head(s):

Katie-Jane Rees


Other key lawyers:

Imam Qazi; Zahir Nayani; Toby Larkham


Testimonials

‘Good strength in depth – we were able to quickly resource up on a major project. Good diversity and experience where we have asked for multiple legal streams to operate together.’

‘You get the feel of a bigger firm operating in a regional geography.’

‘Having a lead partner is useful in terms of relationship and overall management within the firm.’

‘Very friendly and helpful. Not too legalistic in approach – they understand the commerciality well.’

 

 

Key clients

Lloyds Bank plc


Jaguar Bidco Limited (trading as Jollyes – The Pet People)


Kocho Holdings Limited


Santander UK Plc


Alter Domus Trustees (UK) Limited


Tower Street Finance


Handelsbanken


WeLink Homes


Crondall Energy


CDS (Superstores International) Limited (The Range)


Work highlights


Freeths LLP

Freeths LLP's specific expertise in corporate lending, real estate finance and Islamic finance makes the practice an attractive address for players in the world of acquisition finance, challenger banks and funders, operators and investors in the healthcare sector. Chris Freeston oversees the firm’s national banking and finance practice from Nottingham, while the Bristol-based Ben Moylan is the practice’s key contact in the South West.

Practice head(s):

Chris Freeston


Other key lawyers:

Ben Moylan


Testimonials

‘Freeths’ banking partner runs point on most deals, ensuring we are provided the best service. Despite this, their fees are still comparable to other firms not offering the same access.’

 

Key clients

Santander UK


Lloyds Banking Group (including Lloyds Development Capital)


Clydesdale Bank


Yorkshire Bank


Beechbrook Capital


Redwood Bank


ICG Longbow


Chancerygate


Bank of London and the Middle East


Qatar National Bank


Cohort Capital Ltd


Work highlights


Michelmores LLP

A favoured choice for banks, corporate lenders and global development funds, Michelmores LLP advises on real estate finance, project finance and secured lending, among other fields. Sacha Pickering head up the firm’s banking, restructuring and insolvency team, with Karen Williams as the key name for banking and finance matters; she advises across the financial spectrum with a particular focus on domestic and international social impact investment work.

Practice head(s):

Sacha Pickering


Other key lawyers:

Karen Williams


Testimonials

‘Team is practical and easy to work with.’

‘Karen Williams is knowledgeable and a practical problem-solver. She is friendly and easy to work with and manages the deadlines.’

 

Key clients

Proparco


Global Partnerships


Soros Economic Development Fund


Social and Sustainable Capital LLP


Standard Bank (Jersey and Isle of Man)


The Finnish Fund for Industrial Cooperation


FMO


Oak North Bank Plc


Oxbury Bank Plc


AHL Venture Partners


Work highlights


  • Advised the Soros Economic Development Fund on its partnership with MedAccess and Gavi on the COVAX Cost Sharing Mechanism and the COVAX vaccine distribution system.
  • Advised Proparco and Global Partnerships (GP) on their investment in a debt programme established BRAC, one of the world’s largest development organisations.
  • Advising Finnfund and co-lender FMO on the restructuring of facilities provided to East African borrowers for sustainable forestry projects.

Thrings LLP

Thrings LLP acts for both borrowers and lenders, ranging from established South West players to challenger banks and sector-specific operators. Practice head Mike Tomlin is particularly well regarded in the market for his transactional investment work, especially in the telecoms sector. Residential secured lending specialist Charlotte Dooling is another key contact.

Practice head(s):

Mike Tomlin


Other key lawyers:

Charlotte Dooling


Key clients

Santander UK plc


Metro Bank


National Westminster Bank plc


HSBC Bank plc


UOB


Royal Bank of Scotland


Arbuthnot Latham


Boost & Co


Growth Lending Limited


OakNorth Bank plc


Work highlights


  • Advised Growth Lending 2021 Limited (part of the Boost & Co group) on an £8m acquisition finance facility.