Banking, finance and capital markets in Bermuda

Experienced on the lender and borrower sides of transactions, Appleby’s ‘solution-oriented’ practice advises a diverse range of clients including banks, financial institutions and insurance entities on financial issues and transactions. In addition to its sizable client roster of ship and aircraft owners, lessors and lessees, which it primarily assists with asset finance transactions, the group is also highly rated for its knowledge of project and infrastructure financings, syndicated loan facilities and reviewing facility and security documentation. Tim Faries spearheads the team, which includes a number of practitioners with strong track records in this space. Energy and natural resources group head Tammy Richardson-Augustus  wins praise for her ‘great expertise regarding capital markets and her responsiveness and timeliness’, Clive Langley  specialises in asset finance transactions, and David Clark is increasingly active in Bermuda financing matters in tandem with his international practice. Other practitioners of note are Jerome Wilson  and counsel Tiffany Boys.

Under the leadership of Charles Collis  following Graham Collis ’ retirement, Conyers’ practice possesses an enviable track record in high-end IPOs, note and debt offerings, securitisation matters, and shipping and aircraft financing. The department has recently been involved in several major deals involving large cruise companies, and continues to retain major oil and gas clients, particularly for note offerings. Within the group, Victor Richards  specialises in high-value shipping and aircraft ship financings, Jason Piney is noted for his knowledge of aircraft securitisations and financings as well as capital markets work, Marcello Ausenda  is an all-rounder with extensive experience across a host of financing and capital markets deals, while Sophia Greaves  exhibits expertise in the regulations that affect public companies and financial institutions. Counsel Angela Atherden and Edward Rance , who was promoted to director in April 2021, are further names to note.

As ‘a well known offshore firm with a new, hungry and capable Bermudian team’, Carey Olsen Bermuda Limited’s banking, finance and capital markets team (which sits within the larger corporate group) is underpinned by considerable expertise in advising large insurance groups, funds, financial institutions and alternative capital lenders on transactions. Mary Ward and Gavin Woods share responsibility for leading the team, which places an emphasis on corporate and banking, finance, capital markets, debt restructuring, financial restructuring and structured finance matters. Steven Rees Davies joined from Appleby in August 2021, bolstering the group’s capital markets credentials in particular.

MJM Limited’s team, which is presided over by Jeremy Leese , specialises in asset and ship finance work, especially cross-border deals involving Norwegian and Asian shipping and offshore drilling clients. In addition, the department also receives a steady flow of real estate finance, corporate borrowing, acquisition finance and debt restructuring matters. Experienced counsel Brian Holdipp is another key name to note and regularly handles capital markets work such as high-value equity offerings and listings, most frequently in the shipping and oil and gas industries.

The team at Walkers maintains an excellent client base of banks and financial institutions on the lender side, and also increasingly active on the borrower front, acting for clients from the energy, hotel and leisure, commercial shipping, fund administration, aviation and cruise line sectors. The department, which is steered by Jonathan Betts, regularly assists clients with project finance, acquisition and leveraged finance, real estate finance, structured finance and securitisation, debt capital markets, shipping and aviation finance and regulatory matters. Elsewhere, Adam Bathgate and senior counsel Nathalie West are singled out as ‘extremely pleasant to work with, knowledgeable and solution-oriented’, while Natalie Neto and Sarah Demerling provide key support on large instructions.

Particularly active in the aviation and shipping sectors, Cox Hallett Wilkinson Limited has experience assisting clients with IPOs and other fund raisings, structured financing matters, as well as general banking and asset finance work. Managing director Ernest Morrison  and senior associates Janice Gutteridge  and Kathleen Moniz are among the key names.

Wakefield Quin‘s ‘responsive, creative and business-minded’ team stands out in the market for its track record in real estate financing projects in Bermuda. Overseen by managing partner Nicholas Hoskins , the team also handles debt restructurings, project finance work and structured finance matters, among other general banking and finance issues. A key name to note in the group is Erik Gotfredsen , who is particularly skilled in handling complex finance and capital market transactions, with an emphasis on debt and equity offerings.