Banking, finance and capital markets in Cayman Islands

Appleby

Steered by private equity specialist Simon Raftopoulos and structured finance lead Benjamin Woolf, Appleby is routinely sought out by a deep roster of blue-chip underwriters, which turn to the firm for its significant position in CLOs, SPACs, and lender-side fund financing deals. Liesl Richter is a key port of call for clients seeking assistance with respect to CLO transactions, subscription financings, and debt and equity offerings. Jacob MacAdam‘s broad practice encompasses leveraged buyouts and capital markets deals, while Caroline Barton is noted for her expertise in aircraft and vessel financings. Georgina Pullinger regularly works with a litany of major financial institutions on cross-border lending transactions, while global SPACs co-chair Dean Bennett underpins the team’s equity offerings practice. Anna-Lise Wisdom has left the firm.

Key clients

Artisan Acquisition Corp.

Trane Technologies plc

Deutsche Bank AG, London Branch

JPMORGAN CHASE BANK, N.A.

Oaktree Capital Management Group.

EAST WEST BANK

GOLDMAN SACHS BANK USA

FIRST REPUBLIC BANK

CITIBANK, N.A.

JPMORGAN CHASE BANK, N.A.

MACQUARIE BANK LIMITED

Société Générale

JPMORGAN CHASE BANK, N.A.

Endurance Acquisition Corp.

Golub Capital Partners CLO 49(M), L.P.

TradeDepot Inc.

SMBC Aviation Capital Limited

KKR CLO 39 Ltd.

OSD CLO 2021-23, Ltd.

Atlas Senior Loan Fund XVIII, Ltd.

OCP CLO 2015-10, Ltd.

CBAM 2019-11R, Ltd.

Capital Four US CLO I Ltd.

Beechwood Park CLO, Ltd.

Apex Credit CLO 2020 Ltd.

Cornershop

JPMORGAN CHASE BANK, N.A.

Kuvare Life Re Ltd.

Alvotech Holdings S.A.

Work highlights

  • Acted as Cayman counsel to Artisan Acquisition Corp. on its de-SPAC business combination with Prenetics Group Limited, creating Hong Kong’s first unicorn to list on NASDAQ.

Maples Group

Fielding one of the largest teams in the Cayman Islands, Maples Group routinely advises on a considerable volume of big-ticket matters for a myriad of market-leading banks and asset managers. The team is jointly chaired by global finance head Scott Macdonald, who is an expert in CLOs and other structured finance transactions, and Cayman finance lead Tina Meigh, an ‘extremely dedicated and responsive‘ practitioner who also spearheads the firm’s fund finance desk. Repackaging specialist Wanda Ebanks regularly works with European and Latin American export credit agencies on the establishment of various SPVs, most notably in the aviation and shipping sectors. Asset finance co-chair Jonathon Meloy is especially noted for his capabilities in aviation portfolio securitisations and commercial aircraft leasing arrangements, an area in which debt capital markets specialist Anthony Philp is also a key name to note. Amanda Lazier anchors the team’s CSX-listing practice, while James Reeve‘s expertise is concentrated on CLO transactions, risk retention structures and catastrophe bonds. Shari Howell is also recommended for her wide-ranging asset finance acumen.

Practice head(s):

Tina Meigh; Scott Macdonald

Testimonials

‘Maples is the best on knowledge of current market practices and on customer responsiveness.’

‘Tina Meigh is extremely dedicated and responsive – even though she is now head of the finance team. She is always thinking about passing along new developments and suggestions.’

‘The Maples Banking & Finance team is well known for its sophistication, deep understanding of the market, and general high reputation with companies and financial institution clients.’

‘Tina Meigh has an excellent reputation with company and financial institution clients. She is responsive, always well informed, and equipped with a solid and deep understanding of the marketplace and its trends. For many years, Tina has provided consistent and reliable advice to financial institutions with respect to the enforceability of netting and collateral in prime brokerage, derivatives, and securities contract transactions in the context of the insolvency of Cayman Islands counter-parties.’

Key clients

Ares Management

Avolon

Bain Capital

Blackstone

Goldman Sachs

Goshawk Aviation

KKR

Octagon

Prudential

Symphony / Nuveen

Work highlights

  • Advised American Airlines and its indirect, wholly-owned subsidiary Advantage Loyalty IP Ltd., the airline’s loyalty programme, on the Cayman Islands legal aspects of its $10bn financing plan.
  • Advised Avolon on its order of zero emissions electric Vertical Take-Off and Landing (eVTOL) aircraft from Vertical Aerospace Ltd.
  • Assisted Stonepeak with its inaugural aircraft loan securitisation transaction, SALT 2021-1, providing Cayman and Irish legal advice to Stonepeak on the transaction, following its role advising on the investment platform set up and acquisition of the loan portfolio.

Walkers

Walkers‘ cross-disciplinary finance and corporate practice acts for a wide range of financial services heavyweights, which turn to the sizeable team for its capabilities in high-value financing and derivatives transactions, senior note offerings, SPV formations, and securitisation matters. DCM specialist James Burch possesses considerable experience in CLOs and secured note programme structurings, acting for a range of financial services companies and aviation sector operators. Rob Jackson‘s broad practice encompasses projects finance transactions and large-scale financial restructurings, while structured finance expert Philip Paschalides has played a critical role in a number of loyalty financing transactions executed by major US airlines. Following her promotion to partner in July 2021, Sarah Humpleby has continued to work with a global roster of clients on various aviation finance transactions. Joanne Ziegler – another recently promoted partner – maintains a broad practice spanning structured finance transactions and capital market listings. Other key names to note at practice management level include Hugh Anderson, a specialist in subscription and hedge fund finance; David Collins, whose expertise encompasses bilateral and syndicated lending; and Justin Hart, who advises on all manner of fund finance transactions. Senior counsel Olga Sologub is also recommended.

Other key lawyers:

Sarah Humpleby; Paul Osborne; Joanne Ziegler; Olga Sologub

Testimonials

‘Well connected, in the know about aviation market, very responsive and keen to provide high standard of client service.’

‘Sarah Humpleby is very responsive, calm and commercial in her approach. Provides solutions that we did not think of to make a corporate approval process more efficient.’

‘The Walkers team is highly responsive and efficient.’

‘The Walkers team has helped us to navigate though issues in both an unfamiliar jurisdiction and an unfamiliar area of the law for us. Their responsiveness, thoroughness, and ability to explain the issues is highly valued.’

Key clients

Air Lease Corporation

Anchorage Capital

Apollo Global Management

BlackRock

Cerberus

Credit Suisse Asset Management

Goldman Sachs

Hellman & Friedman

Morgan Stanley

Neuberger Berman

PGIM

Redding Ridge Asset Management

PineBridge

Royal Bank of Canada

Silicon Valley Bank

Sumitomo Mitsui Banking Corporation

The Carlyle Group

Wellfleet Credit Partners

Work highlights

  • Acted as Cayman Islands counsel to Goldman Sachs on the American Airlines loyalty programme financing.
  • Acted as Cayman Islands counsel to one of the largest global development institutional focused on the private sector in developing countries in connection with the financing of a wind/solar farm project in West Africa.

Mourant

Mourant works with a stellar lineup of leading asset managers and investment banks on a range of high-value fund finance and structured finance transactions, securitisations, and warehousings. Practice co-chair Hayden Isbister is a seasoned corporate and finance lawyer whose capabilities are most keenly concentrated on bankruptcies, CLOs, and private equity downstream transactions. Fellow co-chair Alexandra Woodcock is routinely sought out by numerous institutional lenders and fund sponsors for assistance with both financing and restructuring-based matters. Alex Last and Ramesh Maharaj are noted for their respective expertise in fund financing transactions and financial services M&A, while counsel Finn Howie is recommended for his capabilities in distressed debt restructurings.

Other key lawyers:

Ramesh Maharaj; Alex LastFinn Howie

Key clients

Endeavour Mining

Work highlights

  • Advised multi-asset gold producer, Endeavour Mining Corporation, in relation to a scheme of arrangement used to redomicile the jurisdiction of incorporation of the parent company of the Endeavour group from the Cayman Islands to England & Wales.

Ogier

Fielding a sizeable, cross-disciplinary team, the ‘incredibly astute and detail-orientedOgier is well-positioned to advise on the full scope of banking, finance, and capital markets work, ranging from loan facilities and note issuances to SPAC IPOs, where practice chair Angus Davison is a key contact. Global fund finance head James Heinicke works on a litany of matters for both lenders and borrowers, particularly those hailing from Latin American jurisdictions. Mark Santangeli‘s considerable focus encompasses fund finance, structured finance, and asset finance work, especially in the yacht and superyacht spaces. Bradley Kruger concentrates on capital markets matters, with recent highlights including private placements and debut NASDAQ listings for various SPACs. Dual-qualified (Cayman and Luxembourg) managing associate Catharina von Finckenhagen and counsel Chris Wall (a specialist in blockchain and fintech issues) are also recommended.

Practice head(s):

Angus Davison

Other key lawyers:

Mark Santangeli; Bradley Kruger; James Heinicke; Catharina von Finckenhagen; Chris Wall

Testimonials

‘The Ogier Cayman team has helped us in innumerable matters involving Banking, finance and capital markets practices including any necessary advisory assistance in respect to local transactions.’

‘This team is incredibly astute, detail-oriented, and understand the market very well. They are the most responsive Cayman counsel we have used.’

‘The team is incredibly responsive, and proactively moves matters forward so that Cayman law deliverables are rarely, if ever, a source of delay in our wide range of structured credit investments and financings (including securitisations).’

‘The commitment to client service we see from all of the individuals we work with at Ogier is second to none. As a manager often working on a number of high-value short-fuse transactions concurrently, the responsiveness and reliability that Mark Santangeli and his team exhibit is invaluable to us. I have yet to encounter a member of Ogier’s Cayman banking and finance practice that did not meet the standard of service we have become accustomed to from them.’

Key clients

Infinite Acquisition Corp

Investcorp India Acqusition Corp

The Growth for Good Acquisition Corp

Bit Digital Inc

ClimateRock

Work highlights

  • Advising on the incorporation, set-up and listing of Infinite Acquisition Corp. on NASDAQ.
  • Advised Bit Digital, Inc. on its private placement with institutional investors for the sale of ordinary shares.
  • Advising on the incorporation, set-up and listing of Investcorp India Acquisition Corp on NASDAQ.

Campbells

Chaired by highly experienced fund finance specialist Alan Craig, Campbells is regularly engaged on a broad array of banking, finance, and capital markets work, ranging from big-ticket listings to facility agreements, debt restructurings, and securities offerings. Richard Spencer‘s far-reaching capabilities are most notably concentrated in the technology sector, where he works with a mix of fast-growth and established companies on structuring and fundraising issues. Charlie Pywell routinely advises on debt finance and equity finance matters, while Damien Magee focuses on secured lending and asset finance work, specifically in the offshore and shipping sectors. Senior associate Jennifer Reilly is also recommended for shipping and aviation matters.

Practice head(s):

Alan Craig

Other key lawyers:

Richard Spencer; Charlie Pywell; Damien Magee; Jennifer Reilly

Testimonials

‘Proactive and responsive, and also sensible on fees.’

‘Damien Magee is very knowledgeable on marine finance and quick to respond with practical advice’.

Key clients

Nubank

JHD Technologies

2TM Holding Company

Recon Technology

McN Investments Ltd

Work highlights

  • Advised on the listing of Nubank’s Class A Ordinary Shares on the New York Stock Exchange, and related listing of Brazilian Depositary Receipts in Brazil.
  • Advised Creditas on its $260m Series F financing round.
  • Assisted Avianca with the Cayman aspects of its US Chapter 11 restructuring.

Carey Olsen

Fielding a seasoned team of experienced practitioners, Carey Olsen LLP is noted for its proficiency in bank-side financing matters ranging from large-cap funds and domestic projects to Latin American fast-growth company funding rounds. The practice is jointly led by Cayman managing partner Nick Bullmore; investment fund specialist Jarrod Farley; aviation and shipping finance focused Richard Munden; and Alistair Russell, noted for his burgeoning fund finance practice. Counsel Dylan Wiltermuth is a prolific adviser in debt and equity capital markets matters.

Other key lawyers:

Dylan Wiltermuth

Testimonials

‘The team works like a perfectly tuned piece of machinery, each member knows the work that they have to do and one does not have to chase them, work flows seamlessly. The team is used to working with very high profile clients and co-counsel so they always deliver the best work-product possible. The firm has many resources to be able to provide top-notch quality services.’

‘Each and every single member of the team is perfectly qualified to do the work at their respective level and position. Each one of them takes ownership of their assignments and follows up until completion.’

‘Working with Alistair Russell has been a delight, I’ve never encountered a partner that is so responsive and attentive. He takes the time to address each and every single one of our concerns and always provides excellent advice.’

Key clients

Hertz

DP Cap Acquisition Corp. I

Global Technology Acquisition Corp. I

GFL Environmental

Work highlights

  • Advised DP Cap Acquisition Corp I, a special purpose acquisition company (SPAC), on its initial public offering on the NASDAQ Global Market.
  • Advised certain clients on the secondary offering of subordinate voting shares in GFL Environmental Inc.
  • Advised a client on the sale of certain shares in Hertz as part of the car rental company’s recent re-IPO.

Conyers

Noted for its niche expertise in Brazilian market matters, Conyers has a broad practice encompassing multi-jurisdictional asset finance, structured finance, and fund finance work. Practice chair Matthew Stocker specialises in aircraft, vessel, and other equipment financings, in addition to capital markets transactions and acquisition financings. Cora Miller is noted for her expertise in DCM work, while counsel Barnabas Finnigan – who divides his time between the firm’s London and Cayman offices – is widely praised by clients for his aviation finance acumen. Fellow counsel Alex Davies‘ recent engagements include a number of IPOs and SPAC-related transactions. Fund finance specialist Anna-Lise Wisdom joined the team from Appleby in February 2022.

Practice head(s):

Matthew Stocker

Other key lawyers:

Cora Miller; Barnabas Finnigan; Alex Davies; Anna Lise-Wisdom

Testimonials

‘Clearly experienced in dealing with cross-border matters and very knowledgeable and extremely responsive and helpful with all queries.’

‘Their knowledge of both Canadian and local legal systems, practices, and laws is a real asset.’

‘Barnabas Finnigan has always been super responsive and very helpful.’

‘The team is knowledgeable on all aspects of Cayman law. They are also extremely responsive which is critical on our time sensitive matters. There is great coverage, even when the key contact is on leave, with a complete handover and continuity.’

‘Barnabas Finnigan in particular is a delight to work with. He is responsive and diligent and takes great care and attention with each piece of work or review. Barnabas is the reason I send my work to Conyers.’

Key clients

ALSP Orchid Acquisition Corp I

Citigroup

Financial Acquisitions Corp.

Global Internet of People Inc.

Golden Wheel Tiandi Holdings Company Limited

Goldman Sachs

Harbour Energy plc

JP Morgan

Lindblad Expeditions

Stonegate Pub Company

Sunrise Aircraft Irish HoldCo

Unico (formerly known as Acesso Digital)

Bedell Cristin

A varied roster of banks and financial services companies turn to Bedell Cristin for assistance with financing transactions, secured lending matters, and CSX listings. Practice chair Joss Morris is a seasoned Cayman and BVI-qualified adviser noted for his capabilities in investment rounds and fund financings. Stephen Nelson‘s broad focus encompasses restructurings and Islamic finance transactions.

Practice head(s):

Joss Morris

Other key lawyers:

Stephen Nelson

Key clients

Welltower

Work highlights

  • Acted for WellTower in connection with the Cayman aspects of a lending and security transaction to a group of UK care home providers.

Harneys

Harneys is retained by an exhaustive roster of commercial banks, asset managers, and other financial institutions, which turn to the team for its capabilities in revolving credit agreements, financing transactions, and fund vehicle matters. Practice head Christopher Hall is noted for his wide-ranging experience in offshore funds and structured finance matters, while Matt Taber is a key contact for institutional lenders operating in the subscription finance space. James Smith – who was promoted to partner in January 2022 – is recommended for his Latin American focus.

Practice head(s):

Matt Taber

Other key lawyers:

Christopher Hall; James Smith

Key clients

Bank of America

Barclays

BNP Paribas

Citigroup

Clifford Chance

Credit Suisse

Merrill Lynch

HSBC

JP Morgan Chase

Morgan Stanley

Stuarts Walker Hersant Humphries

A number of leading banks, business service providers, energy companies, and multinational conglomerates turn to Stuarts Walker Hersant Humphries for assistance in a diverse array of matters, ranging from SPACs to digital asset company formations. The team is jointly headed up by seasoned investment funds lead Chris Humphries and banking and regulatory practice chair Jonathan McLean, whose expertise is notably concentrated on aviation and shipping matters. Corporate head Megan Wright regularly works with clients on credit facility matters, particularly in the insurance and reinsurance arenas. Senior associate Simon Orriss focuses on the full life cycle of investment funds, as well as blockchain and fintech matters.

Other key lawyers:

Megan Wright; Simon Orriss

Key clients

Avi8 Air Capital LLC

Cipher Bay

Digital Financial Exchange (DIFX)

Kensington Management Group

Work highlights

  • Working with Avi8 Air Capital LLC on the formation of a Cayman Islands SPAC and sponsor for the purpose of an initial public offering of its securities and advised on all Cayman Islands aspects of the IPO.
  • Worked with Cipher Bay on the formation of a SPC and a management company.
  • Acted for Digital Financial Exchange (DIFX) on the establishment of a Cayman Islands exempted company, DIFX to act as a crypto-currency exchange and registration as a virtual service provider under the Virtual Asset (Service Providers) Act (Revised) of the Cayman Islands.|