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Linklaters Business Services

Living Wage
ONE SILK STREET, LONDON, EC2Y 8HQ, ENGLAND
Tel:
Work 020 7456 2000
Fax:
Fax 020 7456 2222
DX:
10 LONDON CITY EC3
Email:
Web:
https://www.linklaters.com
Abu Dhabi, Amsterdam, Antwerp, Bangkok, Beijing, Berlin and 25 more

Toby Grimstone

Tel:
Work 020 7456 4893
Email:
Web:
www.linklaters.com/AboutUs/OurPeople/Pages/TobyGrimstone.aspx
Linklaters Business Services

Work Department

Banking, Global Loans

Position

Toby specialises in international banking deals. He has wide-ranging knowledge advising banks and borrowers in syndicated and secured bank financings, with a particular focus on corporate lending, event-driven, structured and limited recourse financings (including commodities, structured trade and export financings in emerging markets).

Toby leads the firm’s relationship with a number of major mining and banking clients and is one of the firm’s mining sector leaders.

Toby is actively involved in the firm’s Africa practice and is also co-head of the firm’s Nigeria desk and a member of the coordinating committee covering the firm’s alliance with South Africa’s premier law firm Webber Wentzel.

Toby spent three years in the firm’s Singapore office and was seconded to Credit Suisse (in 2001) and Barclays (in 2007), equipping him with first-hand knowledge of the banking sector and deep insight into the relationship between banks and law firms.

Work highlights:

Toby has led on, or been a key adviser in, many of the most significant deals in recent years. Highlights include advising:

  • Glencore Energy UK on its acquisition, together the Qatar Investment Authority (QIA), of a 20% stake in Rosneft, Russia’s state-owned oil and gas concern and one of the largest oil and gas companies in the world
  • BP on pre-export finance facilities of up to US$5.25bn for BP Angola and BP Caspian
  • Steinhoff International Holdings on the financing of its proposed US$3.8bn acquisition of Mattress Firm Holding, a specialty retailer of mattresses in the U.S., and on the £597m recommended takeover of UK discount retailer Poundland
  • Glencore on its pre-IPO financing, IPO and merger with Xstrata
  • the Financial Services Compensation Scheme (FSCS), the UK's statutory fund of last resort for customers of financial services firms, on its annual financings
  • on various financings for Jimmy Choo, Nando's, Caffe Nero, Admiral, Paddy Power and other significant corporates.

Career

Trained Linklaters; qualified 2000; associate 2000; managing associate 2005; partner 2009.

Member

Toby regularly presents on financing matters at LMA and other industry conferences

Education

Merton College, Oxford University (1998); College of Law, York (1998).


London: Finance

Bank lending: investment grade debt and syndicated loans

Within: Leading individuals

Toby Grimstone - Linklaters LLP

Within: Bank lending: investment grade debt and syndicated loans

Benefiting from 'top-tier analytical and intellectual ability',¬†Linklaters LLP¬†provides a 'very responsive service'¬†to banks and corporates across a myriad of financing work, including as it relates to general corporate lending, investment grade acquisition financing, margin lending and refiancings.¬†Head of the firm's global loans practice,¬†Philip Spittal¬†has deep expertise at handling¬†syndicated lending and event-driven acquisition finance for investment grade, crossover and leveraged credits; Spittal recently represented ING Bank as global co-ordinator on term and revolving credit facilities and a ‚ā¨600m short-term facility for¬†Dufry, and advised BNP Paribas in its capacity as co-ordinator on an amendment and restatement of its existing ¬£1.88bn revolving facility agreement for¬†Jaguar Land Rover Automotive plc, involving a syndicate of 30 lenders. As well as handling a raft of general corporate lending work and investment grade acquisition financing matters,¬†Oliver Edwards¬†has also developed a market leading margin lending practice and recently¬†advised a syndicate of international banks on the refinancings of a margin loan secured over shares in¬†Steinhoff¬†for a borrower ultimately owned by Christo Wiese. Recently promoted partner¬†Ian Callaghan¬†'is destined to become a leader in the area'; he recently acted for JP Morgan on the¬†‚ā¨150m¬†bridge term loan facility to¬†Neinor Homes, for the purpose of financing the acquisition of certain plots of land located in Spain. Other recommended practitioners include¬†James Martin,¬†Toby Grimstone¬†and 'very sharp and enthusiastic' managing associate¬†Caroline Courtney. Other clients include Glencore, Credit Suisse,¬†Reckitt Benckiser plc and Credit Suisse.

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Emerging markets

Within: Emerging markets

Linklaters LLP¬†has one of the premier finance practices in London and frequently acts for banks, corporates, funds and governments in their financing, hedging and investment activities. From London, it handles work in Africa, the CEE, China, India, Latin America, the Middle East, Russia, Southeast Asia and Turkey. It is a leading player in¬†debt capital markets transactions in emerging markets, though trade and project finance are also among its major strengths. Last year, it acted for lenders including African Development Bank, International Finance Corporation and¬†Japan Bank for International Cooperation on the $5bn financing of the Nacala Corridor project, a 900km rail and port development in Malawi and Mozambique backed by mining company Vale to transport coal from its mines to overseas markets. Head of the firm‚Äôs Africa group¬†Andrew Jones¬†led that deal. Another key deal in Mozambique was the $5bn financing of the¬†Coral South floating liquefied natural gas project, in which¬†Daniel Tyrer¬†led a team acting for the sponsors. He is also¬†head of the CIS group¬†is a leading light for oil and gas¬†project finance across EMEA.¬†Mirthe Van Kesteren¬†leads the emerging markets banking and structured trade finance practice in London, which has a deep bench of experienced partners including transport,¬†utilities and infrastructure¬†expert¬†Ian Andrews;¬†US securities partners¬†Cecil Quillen¬†and¬†Patrick Sheil, who handle both for debt and equity transactions; senior partner and mining industry expert¬†Charlie Jacobs; capital markets partners¬†Richard O‚ÄôCallaghan, who advised the Republic of Slovenia on a ‚ā¨1.25bn tender and exchange offer for outstanding debt, and¬†Elaine Keats; and¬†banking partner¬†Toby Grimstone.

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Trade finance

Within: Leading individuals

Toby Grimstone - Linklaters LLP

Within: Trade finance

Linklaters LLP is known for its 'smooth delivery in multi-jurisdictional transactions and its keen ability to pull apart any change that might affect a deal'. Head of structured trade and commodity finance Mirthe Van Kesteren has handled all of the financing deals for KAZ Minerals since 2001; her recent work for this client includes a $2bn trading agreement with Advaita relating to the production of copper concentrate, a $600m PXF for the refinancing of its existing facility, and the negotiation of commercial trading contracts for both copper concentrate and copper cathodes. The team for these deals included managing associate Adrian Newell, who has extensive experience in trade and commodity financings including PXF and pre-payment deals in the CIS region, ECA-backed deals and borrowing base facilities. The other key partner in the practice is Toby Grimstone, who is a key adviser to major trading house Glencore on complex financing transactions; his recent highlights for this client include the $9.1bn joint sale of a stake in Russian state-owned oil and gas company Rosneft, which involved the unwinding of the financing and credit support arrangements put in place for the original acquisition financing.

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London: Projects, energy and natural resources

Mining and minerals

Within: Mining and minerals

Mining sits at the core of Linklaters LLP 's multi-disciplinary practice which advises the full gamut of clients under the joint leadership of Charles Jacobs , Toby Grimstone and David Avery-Gee . Longstanding client Glencore recently appointed the team to oversee its acquisition of 31% stake in Mutanda and 10.25% in Katanga from Fleurette Properties. Corporate partner James Inglis worked closely with allied firm Allens to handle Rio Tinto's sale of its Australian subsidiary Coal & Allied Industries to Yancoal, and Avery-Gee intervened in Newcrest regarding its subscription for 10% of the issued share capital in AIM-listed SolGold. On the financing side, Fiona Hobbs and head of the Africa group Andrew Jones oversaw the $2.73bn project financing for the construction and refurbishment of a 912km coal railway line through Mozambique and Malawi as well as the Nacala port in Mozambique to service the Vale and Mitsui mine on behalf of a group of investment and commercial banks.

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