Banking and finance in Israel

Agmon & Co. Rosenberg Hacohen & Co.

Agmon & Co. Rosenberg Hacohen & Co.'s 'outstanding' practice not only advises banks and financial institutions on a wide variety of financing deals, but also acts for insurance companies, credit funds and large corporations on their financing arrangements with lenders. The team has also established a strong reputation for banking litigation and social banking initiatives. The 'brilliant' Yona Goshen-Gottstein, who previously served as the former Chief Legal Counsel and Deputy CEO at FIBI (First International Bank of Israel), has strong credentials in syndicated financing, derivatives and ISDA agreements, among other complex financing arrangements. Associate Aluma Zernik is also highly active, with particular expertise in banking, derivatives and fintech disputes.

Practice head(s):

Yona Goshen-Gottstein

Other key lawyers:

Aluma Zernik

Testimonials

‘Agmon’s banking team is the best in Israel.’

‘Yona Goshen is the main reason for my choice to work with the law firm. She understands my vision about the business, but nevertheless she always adds to it and makes it easier for both sides during negotiations.’ 

‘They are the very best: brilliant, resourceful and extremely dedicated.’

‘Yona Goshen has an especially strong track record of advising local and international lenders on Israeli project financing transactions.’ 

‘Comprehensive work and team. Fully dedicated to client’s needs and strategy. Quick understanding of business issues.’

‘Deep understanding of the Israeli financial sector, its limits and constraints.’

‘Yona Goshen-Gottstein – is our main contact in the firm. She is brilliant, has a thorough business understanding and can really see the big picture and then break it down into the smallest details. Her experience and status in the industry really helped us in negotiations and collaborations with banks, insurance companies and so on.’ 

Key clients

Leviathan Bond Ltd. And Delek Drilling

Mizrahi Tfahot Bank

Israel Discount Bank Ltd.

ICIC the Israeli Credit Insurance Company Ltd.

Bank Hapoalim Ltd.

Migdal insurance company Ltd.

Harel Insurance Company Ltd

Delek Group

Ratio Oil Explorations (1992) Limited Partnership

Menora Mivtachim Insurance Ltd.

Work highlights

  • Advised Delek Drilling Partnership on obtaining $2.5bn funding from an international consortium of banks, led by JP Morgan and HSBC, by way of 144A bond issuance.
  • Advised Discount Bank in connection with a cross-border complex banking dispute, which involved drafting a unique correspondent agreement and representing other clearing and banking institutions in the major change in ATM services.
  • Advising Migdal Insurance Company on two major project financing transactions  with major FTTH service providers, based in Israel and France.

FISCHER (FBC & Co.)

FISCHER (FBC & Co.)'s banking and finance practice took on the entire team of Sharir, Shiv & Co. in January 2020, including finance expert Yoram Shiv. While the firm continues to handle the full spectrum of financing, its expertise in international transactions, including acquisition and project finance, has proved particularly instrumental recently. 'Professional and dedicated' partner Miri Kimhi specialises in advising lenders and borrowers on their financing transactions in Israel and overseas, displaying an impressive understanding of highly regulated sectors and securitisation structures. Dikla Lavy-Fischer is regularly instructed by clients to advise on the Insolvency and Economic Rehabilitation Law (2019) and other complex financial regulation. Recently, Miri represented JP Morgan in a very high value bridge financing of the acquisition by merger of the Tel Aviv-listed holding group A.D.O. Group.

Practice head(s):

Miri Kimhi

Other key lawyers:

Dikla Lavy-Fischer; Omer Shani; Yoram Shiv

Testimonials

‘Fischer Behar is a quality and professional law firm with many years of experience which is a significant advantage in this market. Also, they are accessible, and their service is personal and prompt for any request or matter.’

‘We worked on an ongoing basis with the partner Adv. Dikla Lavy-Fischer who always demonstrates knowledge and professionalism in her handling of matters.’

‘Staff availability, dedication, and human relationships.’

‘The team in Fischer Behar has exceptional legal knowledge and skills, but what sets the firm apart from its competitors is its business savvy approach and focus on eliminating conflicts as opposed to creating new ones.

‘Dikla has extensive knowledge and a profound understanding of the law and her understanding of commercial financing enables her to accurately understand our needs as a lender including our limitations under the law and our potential exposure for each transaction.’

Dikla has a heightened sense of responsibility and commitment to clients. She is caring, accessible, loyal and service-minded and from our perspective she is always our first choice.

Key clients

Mercantile Bank

Altshuler Shaham Provident Funds

Amitim Pension Funds

Bank Hapoalim

Bank Leumi Le-Israel

Bank Mizrahi Tefahot

Clal Industries

Clal Insurance Group

Discount Capital Ltd.

Harel Insurance Group

Israel Discount Bank

JP Morgan

Menora Mivtachim Insurance Group

Phoenix Insurance Group

Poalim Capital Markets Ltd.

Work highlights

  • Represented global private equity firms Centerbridge Partners and Gallatin Point Capital in an approx. $220m acquisition financing transaction for their purchase of a controlling stake in The Phoenix Holdings, one of the leading financial institutions in Israel.
  • Represented Zomet Energy Ltd., a wholly owned subsidiary of OPC Energy Ltd., in an approx. $370m financing transaction for the development and construction of a 396MW natural gas power station.
  • Represented a syndication of Israeli institutional lenders led by Harel Insurance Group, in a $315m acquisition financing of Leumi Card, one of the three existing Israeli credit card and consumer financing corporations, by Warburg Pincus.

Gornitzky & Co.

Gornitzky & Co.'s 'business oriented' practice is regularly instructed by lenders in market-first transactions, financing deals in the high-tech sector and transactions involving new credit products and structures. In addition, the team has significant expertise in inbound and outbound acquisition and project finance, in which it acts for major financial institutions such as Credit Suisse and HSBC. Eli Elya has a strong reputation as an adviser to lenders in high-profile credit transactions, as well as notable expertise in extrajudicial debt restructuring. Elite Elkon, who handles cross-border financing and complex banking regulatory matters, recently advised Warburg Pincus on its acquisition of Max payment for NIS2.5bn. Dubi Gross is noted for his wealth of experience in acquisition finance and syndicated lending. Idan Baki is also noted.

Practice head(s):

Eli Elya; Elite Elkon; Dubi Gross

Other key lawyers:

Pinhas Rubin; Ori Yitzhak; Idan Baki

Testimonials

Dedicated, detail-oriented team which takes a holistic view of the issues facing clients.’ 

‘Dubi Gross – very dedicated, really goes to great lengths to protect his clients and to get the best deal for them.’

‘They seem to have a market and legal knowledge, and practicality, that is definitely the best of the Israeli firms that I have worked with. They are familiar with international finance clients and how they like their work to be handled.’

Dubi Gross – terrific front man for the finance practice.’

Eli Elya – very strong in banking and finance.

Eli is a real standout. Nothing is impossible and he is always thinking about the big picture and the important details.’

Key clients

Bank Hapoalim

Bank Leumi

First International Bank Of Israel Ltd.

Psagot Investment House Ltd.

Altshuler Shaham Provident Funds and Pension Funds Ltd.

Warburg Pincus LLC

Delek Group

Silicon Valley Bank

Migdal Insurance Company Ltd

The Clal Insurance Enterprises Holdings Ltd. Group

The Phoenix Holdings Ltd.

Fattal Hotels Ltd.

Dan Capital Infrastructures and Financial Investments Ltd.

Work highlights

  • Advised Bank Hapoalim and Mizrahi Tefahot Bank on one of the largest real estate financing transactions in Israel.
  • Advised the lenders  on the financing of the leveraged buyout of Checkmarx by Hellman & Friedman and TPG.
  • Advised El Al, Israel’s national airline, on its rescue financing package from commercial banks in Israel, partially guaranteed by the State of Israel.

Herzog Fox & Neeman

Herzog Fox & Neeman has a broad banking and finance practice, which advises major clients on all forms of loan transactions, digital banking, securities financing and refinancing, among others. The firm is also at the forefront of advising clients on the implications of the Insolvency and Rehabilitation Law since it was it implemented in 2019. Alan Sacks has over considerable experience of cross-border finance, including syndicated, corporate and derivatives transactions. Roy Nachimzon specialises in acquisition finance, commercial loans and restructuring mandates. Ben Kanter brings notable expertise in aviation financing, transfers and registrations. Irit Roth, former GC at Bank Leumi, recently joined the team as head of financial regulation. Natalie Jacobs is another key name.

Practice head(s):

Alan Sacks; Roy Nachimzon; Natalie Jacobs

Other key lawyers:

Ben Kanter; Irit Roth; Mark Phillips; Zara Gold

Testimonials

‘The HFN team is very dedicated and devoted to the clients’ needs. Its in-house knowledge in the field of banking is vast.’

‘Business oriented team, with a strong focus on banking.’

‘Advocate Roy Nachimzon is the team leader. He is the spirit of the team and the individual who makes the team my first choice in this field.’ 

‘The firm has an in-depth knowledge of financing in the Israeli market and is very approachable. ’

‘We personally always deal with Alan Sacks and Ben Kanter. Whenever we needed a solution (for complicated security taking structures), Alan and Ben provided the requisite options, many times after efficient communication with the bank’s clients.’

‘Exceptional market experience, detailed understanding of different facility types, bench strength.’

Key clients

HSBC Bank Plc Israel

Bank of Jerusalem

CK Hutchison Holding Limited

DK Partners, PC

Bank Leumi le-Israel B.M.

Credito Ltd.

Israel Discount Bank Ltd.

Work highlights

  • Advised HSBC in relation to a complex, multi-jurisdictional loan arrangement ($250m) in order to finance the acquisition of a South African brewery by a consortium led by Coca-Cola Israel.
  • Advised the Bank of Jerusalem on completing a “true sale” of a pool of mortgage loans close to $100m in total, for balance sheet relief purposes.
  • Assisted CK Hutchison Holding Limited with accelerating the debt, in excess of $1bn, and enforcing security over a controlling interest of Partner Communications, one of Israel’s leading telecoms companies.

Meitar Law Offices

Meitar Law Offices acts for Israel's major banks and non-banking financial companies on all of their financing arrangements and corporate transactions, including M&A. The firm is also well known for representing banks in negotiations with regulators regarding existing and proposed legislation, such as the Payment Services Law and the Credit Data Law. Judith Gal-Or specialises in high-value financing transactions, including syndicated lending and debt refinancing. Gal Feingold has standout experience acting for clients financing the purchase of some of Israel's largest companies, and is also a key name for lenders involved in financing major energy projects. Dalia TalEyal Dotan and Assaf Oz are other names to note.

Practice head(s):

Judith Gal-Or; Gal Feingold; Eyal Dotan; Assaf Oz

Other key lawyers:

Dalia Tal

Key clients

Bank Leumi

Union Bank of Israel Ltd.

Israel Discount Bank Ltd.

First International Bank of Israel Ltd.

Citibank

Mizrahi Tefahot Bank Ltd.

Gazit-Globe Ltd.

Amitim Senior Pension Funds

The First Digital Bank (in set up) Ltd.

Taboola.com Ltd.

BBAM

Bank Hapoalim Ltd.

Phoenix Insurance Company Ltd.

Harel Insurance Company Ltd.

Menora Mivtahim Insurance Ltd.

Clal Insurance Company Ltd.

Automatic Bank Services (Shva)

Banking Clearing Center Ltd. (Masav)

Psagot Provident Funds and Pension Ltd.

Work highlights

  • Advised Bank Leumi Le-Israel and its subsidiaries on a cooperation agreement with the Police Officers and the Prison Guards’ Funds, following which the bank granted loans in a total amount of approx. $857m to officers and prison guards who are entitled to receive past payments.
  • Advised the Union Bank of Israel’s controlling shareholders on a merger transaction with Bank Mizrachi-Tefahot.
  • Advising the Association of Banks in relation to negotiations with the Bank of Israel and other regulators regarding new proposed legislation and regulations.

S. Horowitz & Co

S. Horowitz & Co is well versed in all areas of banking and finance, however the firm has particular strength in corporate finance and equity financing. Also of note is the firm's strong working knowledge of factoring transactions and export credit finance, demonstrated by its role as lenders' counsel in the $200m+ financing of an irrigation system supplied by Netafilm to the Ethiopian Sugar Corporation, representing the largest such transaction in Israel. Anthony Bloch advises international borrowers, lenders and investors on financing mandates involving infrastructure projects, M&A, joint ventures and trading activities. Clifford Davis has standout expertise in export credit finance and acquisition finance, and Michelle Liberman specialises in syndicated and project finance.

Practice head(s):

Anthony Bloch; Clifford Davis; Michelle Liberman

Other key lawyers:

Shlomi Delgo; Inbal Miles Rachman; Itamar Shimonovitz; Tammy Riesenberg

Testimonials

‘The banking team is very responsive and commercial, displaying a great knowledge of both the technical points of Israeli law and current market practices. I have found them to be far superior to other similar firms in terms of their dedication to timelines and quality of the work product. ’

‘Clifford Davis is the go-to lawyer in Israel for leveraged and acquisition finance. He has unparalleled technical expertise, he is amazingly responsive and we would not work in Israel without his assistance.’

Key clients

Bank Hapoalim B.M.

Bank Leumi Le’Israel Ltd.

Israel Discount Bank Ltd.

Mizrahi-Tefahot Bank Ltd.

First International Bank of Israel Ltd.

Union Bank of Israel Ltd.

The Phoenix Insurance Company Ltd.

Pathfinder Strategy Fund

Francisco Partners

MUFG Bank Ltd.

Work highlights

  • Advised a syndication of senior lenders led by Mizrahi-Tefahot Bank Ltd. Ltd on the NIS1.1bn refinancing transaction to replace loans and credit lines granted in connection with the construction of two private power plants – Ramat Negev Energy and Ashdod Energy.
  • Assisting Francisco Partners with all financing aspects of its acquisition of LiveU Ltd. and its subsequent spin off of Drive-U Ltd.
  • Advising a syndicate of banks (including Bank Hapoalim and Israel Discount Bank) and institutional bodies on the $350m refinancing for a major borrower, secured by guarantees of the borrower’s subsidiaries.

Goldfarb Seligman & Co.

Goldfarb Seligman & Co.'s practice expanded significantly in January 2020 as a result of the firm's merger with Rotenberg & Co, a firm that was known for its expertise across the corporate and commercial landscape. The team is particularly renowned for its strength in corporate and project finance, and the group is also experienced in banking regulations. Ariel Rosenberg specialises in financial services regulation, including digital payments services, cross-border transactions and derivatives. Rami Sofer is frequently sought after by clients including Isracard. Dubi Zoltak is also noted.

Practice head(s):

Ariel Rosenberg; Rami Sofer; Dubi Zoltak

Other key lawyers:

Doron Segal; Orit Kremer

Key clients

Isracard Group

Warburg Pincus LLC

Goldman Sachs

JP Morgan

Credit Suisse

Citigroup

HSBC

Bank Hapoalim B.M.

The Arison Group

Arison Investments Ltd.

Israel Electric Corporation

Mizrahi Tefahot Bank Ltd.

Israel Discount Bank Ltd.

Discount Capital Ltd.

Work highlights

  • Advising Israel’s largest banks on various financing matters.
  • Advising Altshuler Shaham Properties on financing transactions.
  • Advising Excellence Nessuah Brokerage Services Ltd. on securities-backed credit.

Gross Law Firm – GKH

Gross Law Firm – GKH has notable expertise advising on international financial regulations. The team is also very engaged in the fintech sector, having assisted various start-ups with the regulations governing their activities. Ofer Hanoh frequently advises major banks on various aspects of their operations, including antitrust requirements and restructuring processes. Ran Ben-Ari specialises in advising foreign and domestic financial institutions on the regulations governing complex financial products, including derivatives transactions.

Practice head(s):

Ofer Hanoh

Other key lawyers:

Ran Ben-Ari; Yigal Binyamini; Roy Reiss

Testimonials

They have a broad understanding of the industry and are capable of providing a one stop shop solution.’

‘The individuals are highly professional, and are diligent and act with integrity.’

Key clients

First International Bank of Israel

UBS AG and UBS Israel

Bank Leumi

Mizrahi Tefahot Bank

Israel Discount Bank

The Association of Banks in Israel

Morgan Stanley

Banco Itaú Brazil

Clal Insurance group

Edmond De Rothschild Bank, Edmond De Rothschild Bank

Phoenix Insurance Group

Teachers’ Educational Funds

Bank of America Merrill Lynch

AIG Israel

FIBI Holdings Ltd.

Gilad Pension Fund

Bank Hapoalim

Shikun & Binui

Discount Mercantile Bank

SunTrust Bank

Work highlights

  • Advised Arison Holdings on the process of obtaining a holding permit for Bank Hapoalim.
  • Advised Bank Leumi on agreements facilitating the issuance and processing of charge cards and credit cards with three Israeli credit card companies – Max It Finance, Isracard and Cal.
  • Advised Bank Leumi on the sale of 10% of its holdings in Automated Bank Services to Visa International.

Tadmor Levy & Co

Tadmor Levy & Co.'s team advises a diverse range of domestic and international banks, financial institutions and institutional investors on important matters such as project financing, banking litigation and separation transactions mandated by the Strum Law. It is also known for assisting fintech clients, including mobile payment platforms and cryptocurrency issuers, with the development and roll-out of their products in Israel. Opher Levy's broad expertise includes advising major credit card companies on all aspects of their operations. Amir Scharf advises a varied roster of banks and financial institutions on corporate governance and financial regulation.

Practice head(s):

Opher Levy; Amir Scharf

Other key lawyers:

Aviad Lachmanovitch; Ricky Brenner

Testimonials

‘Opher Levy – unique knowledge of banking/credit card law and regulation coupled with an excellent business understanding.’ 

Key clients

Max It Finance

Leumi Bank Ltd.

Bank Hapoalim Ltd.

Discount Bank

Mimun Yashir

Credit Suisse Financial Services

The Association of Banks in Israel

Ramat Negev Energy Ltd. and Ashdod Energy Ltd.

Peilim Investment Portfolio Management

Smart Advanced ATM Services, Keren HaTamar Ltd.

Global Factoring Ltd.

Neema Shefa Ltd

ERN Clearing House

Work highlights

  • Advising Leumi Card on an array of transactions, most notably the sale of its shares by Bank Leumi and Azrieli to US private equity firm Warburg Pincus and other investors for $680m.
  • Representing Leumi Bank in various parliamentary committees, and providing ongoing regulatory and transactional advice, most recently in connection with the NIS1.8bn OPC power station project, located in Mishor Rotem.
  • Advising Bank Hapoalim as lead arranger of senior debt for the NIS3.2bn expansion of the Cross-Israel Highway and the advance of senior debt of approx. NIS2.8bn for the construction of a thermo-solar power plant located in Ashalim.

Weksler, Bregman & Co., Advocates

Weksler, Bregman & Co., Advocates provides wide-ranging services to its banking clients, extending far beyond pure transactional work. Specific areas of expertise include advising clients on complex financing and credit transactions, banking litigation and regulatory compliance regarding legislation such as the Anti-Concentration Law. Ora Dvir, who previously worked as a deputy to the Bank of Israel's chief legal adviser, has a very strong track record in international finance. Ofer Yankovich is another name to note.

Practice head(s):

Ora Dvir; Ofer Yankovich

Other key lawyers:

Sharon Drori Wichilievski; Michal Goren

Key clients

Bronfman Group

Tel Aviv Stock Exchange

Africa Israel Residences Ltd.

Africa Israel Properties Ltd.

Africa Israel Investments Ltd.

Israel Discount Bank Ltd.

First International Bank of Israel Ltd.

First International Bank of Israel Ltd.

Massad Bank Ltd.

Mizrahi-Tefahot Bank Ltd.

Gottex Group

UBank Ltd.

Israel Discount Bank Ltd.

Mercantile Discount Bank Ltd.

HSBC

Work highlights

  • Advising various banks (including Israel Discount Bank and First International Bank) on their remuneration policies and regulatory compliance, as well as in relation to their capital markets and M&A activities.
  • Advising TASE on all regulatory aspects of its operation as both a stock exchange and as two clearing houses.
  • Representing HSBC in a class action filed against it as well as against other foreign banks, alleging that foreign currency trading rooms’ employees wrongfully coordinated the rates in foreign currency trades, and such wrongful coordination indirectly impacted the foreign currency exchange rates in Israel causing significant losses to those trading in the field.

Yigal Arnon & Co

Yigal Arnon & Co's 'very capable and efficient' practice is well-equipped to handle regulatory, contentious and transactional matters for corporates and financial institutions. Alongside advising large financial institutions on financing transactions, Shiri Shaham assists industry bodies such as ISDA, ICMA and ISLA with a wide range of legal issues pertaining to banking and finance. 'Very experienced lawyer' Yuval Shalheveth stands out for his strong working knowledge of ISDA agreements and Basel II requirements. Simon Weintraub is another name to note.

Practice head(s):

Shiri Shaham; Simon Weintraub; Yuval Shalheveth

Testimonials

‘High quality lawyers, able to deal with various issues with ease. Excellent communication and were able to help resolve a complex issue that others were not.’

‘YA is extremely knowledgeable about the energy sector in Israel, as well as in project finance more generally. The team is also extremely accessible and are always available for queries and consultations.’

‘Yuval Shalheveth in the firm is a very experienced lawyer, with a profound understanding of the industry. In this manner, Yuval certainly stands out. ’

Key clients

Digital Financial Services N.M

Nomura Holdings, Inc.

Leader Capital Markets Ltd.

Harel Insurance Company

C.A.L.

Michlol Urban Renewal Ltd.

Israel Post

BNP Paribas

HSBC Bank

Deutsche Bank AG (NYSE:DB)

TBC Bank

National Australia Bank (NAB)

Capital One Bank

Lloyds Banking Group

State Bank of India

Work highlights

  • Advised the digital banking joint venture on the establishment of Digital Financial Services N.M (2019), a new Israeli digital bank.
  • Advised Bank Hapoalim on its role as a lender and the agent in the provision of the senior facility agreement with Via Maris (Palmachim Desalinization Plant).

Amit, Pollak, Matalon & Co. Advocates and Notary

Amit, Pollak, Matalon & Co. Advocates and Notary advises borrowers and lenders on a wide range of transactions, including acquisition finance, senior and subordinated debt and mezzanine finance. The firm is also well known for assisting major Israeli insurance companies throughout the process of negotiating with banks and non-banking financial companies with the financing of construction projects, including urban renewal initiatives. Orit Israeli has a very strong reputation for cross-border financing, with a particular focus on the real estate and insurance industries.

Practice head(s):

Orit Israeli

Key clients

Bank Hapoalim

Ayalon Insurance Company Ltd.

Phoenix Insurance Company Ltd.

Clal Group

Mizrahi-Tefahot Bank Ltd.

Airport City d.o.o Belgrade

IBI – Investment House

Menorah Mivtahim Insurance Company Ltd.

Tidhar Group Ltd.

Harel Group

Fundit

Yesodot A’ Nadlan and Pituach LP

Arbel Fund, LP

Capital Platinum Fund

Shaked Partners Fund

Wealthstone

Work highlights

  • Advised Tidhar Group, Acro Group, Allied Group and Canada Israel in relation to a re-finance transaction of a NIS830m loan with regards to Microsoft Israel Ltd.’s compound project in Herzliya, Israel.
  • Advised Arbel Fund on granting a loan to Brown Hotels Ltd, structured in two instalments, the first in the amount of NIS40m in August 2019, and the second in the amount of NIS20m  in December 2019.

Epstein Rosenblum Maoz (ERM)

Epstein Rosenblum Maoz (ERM) 'spectacularly good' team excels in real estate finance, with an emphasis on cross-border transactions. Amnon Epstein is known for his expertise in project finance, particularly at a global level, having acted for major financial institutions throughout his career, such as Goldman Sachs and Bank of America Merrill Lynch. Itai Yonai is a go-to partner for structured finance transactions.

Practice head(s):

Amnon Epstein

Other key lawyers:

Itai Yonai; Itamar Lev

Testimonials

‘ERM has a cohesive, well-briefed team. They are incredibly hardworking, thorough, technical and provide fantastic client service.’ 

‘Amnon Epstein brings his really outstanding knowledge of energy projects together with his expertise in finance as well as international depth which results in exceptionally high quality work. His main strength is his ability to understand every aspect of the transaction and therefore see the entire picture without losing sight of the details.’

Key clients

Amitim

Ayalon Insurance

Bank Discount

Bank Leumi (Israel)

Bank Leumi (UK)

Bank of America Merrill Lynch

Bank of Cyprus Group

Barclays Bank PLC

BNP Paribas

Citibank

DBS Bank (Hong Kong)

Goldman Sachs

Guggenheim Credit LLC

Harel Insurance Company

JBIC Japan Bank for International Cooperation

Macquarie Bank

Mizrahi Bank

Monarch Alternative Capital

Societe Generale

The Phoenix Insurance Company

Work highlights

  • Advised Guggenheim Credit LLC and other lenders in relation to an LBO financing for the contemplated $1bn acquisition of Checkmarx by TPG.
  • Advised the Phoenix on the amendment to a €120m loan granted to two of Israel’s leading tourism companies: Issta and Fatal.
  • Advised Kape Technologies plc in relation to an agreement with Bank of Ireland, Barclays Bank and Citi Commercial Bank, to provide senior secured term and revolving credit facilities of up to $70m.

Erdinast Ben Nathan Toledano & Co. with Hamburger Evron

Erdinast Ben Nathan Toledano & Co. with Hamburger Evron  is the result of a 2021 merger between Erdinast, Ben Nathan, Toledano & Co. and Hamburger Evron & Co. The  team of the former legacy firm has particularly strong credentials in acquisition finance and financing with a cross-border element. The group is a popular choice for major lenders and insurance companies based in Israel. Doni Toledano served as lead counsel to Mizrahi-Tefahot Bank on its acquisition of Union, representing the first merger of two domestic banks in Israel in several years. Dan Sella is a key partner for acquisition financing and Roy Gross is another name to note. Assaf Englard provides lectures and hosts webinars on pertinent topics in the banking and finance space. Englard has expertise in project finance and litigation involving financial institutions. Associate Gilad Goni specialises in complex financing and credit transactions, with an emphasis on the real estate sector.

Practice head(s):

Doni Toledano; Dan Sella; Roy Gross; Assaf Englard

Other key lawyers:

Gilad Goni

Key clients

Netafim Ltd.

Mizrahi-Tefahot Bank Ltd.

Hellman and Friedman LLC

Novalpina Capital

NSO Group Technologies Ltd.

Bain Capital Credit, LP.

Carasso Motors Ltd.

Meitav Dash Investments House

XIO Group

Bank Hapoalim B.M

Lumenis Ltd.

The Phoenix Insurance Company Ltd.

DNB Bank

Yesodot Fund

Ayalon Insurance Company

Work highlights

  • Advised Mizrahi-Tefahot Bank on its strategic acquisition of Union Bank, which is the first merger of two Israeli banks in many years.
  • Advised Netafim in connection with multiple banking arrangements, which involved obtaining financing from no less than eleven foreign and domestic lenders, for an unprecedented amount.
  • Advised Bain Capital on its multimillion-dollar financing of the acquisition of Israeli company LiveU.

Lipa Meir & Co

Lipa Meir & Co's traditional finance practice is supplemented by expertise in more niche areas, including true sale opinions and credit insurance. Ronen Baharav has strong credentials in corporate and asset finance, in addition to an in-depth understanding of AML legislation and bank M&A. Yariv Shalom frequently advises on credit guarantees, consortium agreements and factoring transactions.

Practice head(s):

Ronen Baharav; Yariv Shalom; Asaf Iluz

Key clients

Mizrahi Tefahot Bank Ltd.

Bank Hapoalim Ltd.

Bank Leumi Le Israel BM

Harel Group

Netafim

Sufrin Group

Allied Group

Beresheit Fund

Weiss Group

Lubinski Group

Ayalon Insurance Company Ltd.

Arbel Fund LP

Bituach Haklai Central Cooperative Society Ltd.

Tene Investment Funds

Menora Mivtachim

Astral Hotels

Cogito Capital Fund

The Israeli Credit Insurance Company

Work highlights

  • Advised a consortium of lenders led by Bank Leumi (with the participation of Discount Bank, International Bank, Harel and Menorah) on a loan deal to provide a credit line of NIS1bn to the Jerusalem Municipality for the financing of the construction of classrooms.
  • Advised Netafim on a range of diverse and complex financing transactions, totaling over NIS1bn, involving negotiations with foreign banks, private financial institutions and public entities in Israel and abroad.
  • Advising Bank Hapoalim in relation to various regulatory and transactional matters, valued at NIS tens of billions.

M. Firon & Co Advocates and Notaries

M. Firon & Co Advocates and Notaries'responsive and attentive' team excels in real estate finance and banking litigation. Also of note is the firm's involvement in 'Adopt a Company', a scheme set up by Globes and Bank Leumi to support struggling corporates during the pandemic. Tamar Firon-Smorodinsky often advises real estate and insurance companies on fund formations, finance agreements and other corporate and commercial deals.

Practice head(s):

Tamar Firon Smorodinsky

Other key lawyers:

Ronen Maor; Oded Ofek; Timor Pesso; Asher Sofan

Testimonials

‘As the CEO of a leading company I need a leading law firm. Firon’s performance as a whole is simply the best! We benefit from their full understanding of the Israeli market and their commercial and business acumen. The leading partners are on top of everything.’

‘Tamar Firon is my favourite lawyer to work with. She is involved in every aspect of our work and is a true partner and confidante. Her legal perspective is combined with commercial and financial experience thus giving us holistic advice.’

‘Timor Pesso is a real asset to the team. He is extremely sharp and thinks outside of the box. He grasps the big picture very quickly yet does not neglect dealing with small details as well. He has valuable project finance and BOT experience. ’

‘Tamar Firon is a dream lawyer. Working closely with her I have come to know and appreciate her outstanding experience in project finance and infrastructure.’ 

‘Sophisticated, fast as lightning, innovative, problem solvers with a can do attitude. ’

‘Oded Ofek is a handset of legal knowledge, skill and ability. He is knowledgeable, accessible, innovative, smart, experienced, forward looking, business savvy – simply the best lawyer in the field of credit provision and services in financial assets.’ 

Key clients

MasterCard International

Bank Leumi Le-Israel

Israel Discount bank

UBank Trust Company Ltd.

Direct Finanace

Excellence Nesuah Brokerage Services

Yelin Lapidot Fund

Harel Insurance Company

The Phoenix insurance company

C.Mer

SigmaCity

Ashtrom Group

Ashtrom Properties

Ashdar

Hanan Mor Holdings Ltd.

The Ministry of Finance

The Housing Ministry

Wealthstone

Eldav Investments Ltd.

Work highlights

  • Advising MasterCard regarding various matters, including a legal opinion in respect of the innovative EL-AL “FlyCard” co-badge credit card.
  • Advising Direct Finance on an expected IPO as well as in relation to its $70m sale of loan portfolios.
  • Assisting Ashdar with various high-value financing agreements regarding funding of residential projects comprising hundreds of residential units.

Shibolet & Co.

Shibolet & Co.'s team is particularly active in the hi-tech, infrastructure, energy, life sciences and real estate sectors, where it is sought out to handle a wide range of financing transactions. The team also advises public companies on various financing arrangements. Gadi Ouzan has a primary focus assisting European and US banks with corporate and commercial matters. Alon Ziv is another name to note.

Practice head(s):

Gadi Ouzan; Alon Ziv

Other key lawyers:

Ariel Sheffer

Testimonials

‘The team has significant expertise in project finance deals. It is always a pleasure to work with them on these kind of financing agreements. ’

‘Alon Ziv is very active in each deal and always makes sure to notify the client with the major open issues and to offer creative ways to negotiate and solve them.

‘Ariel Sheffer is a very efficient lawyer who will always seek the best for his clients and be very attentive to their needs.’ 

‘The dedicated team in the firm has extensive experience and professional knowledge regarding financing transactions, especially in a dynamic market such as real estate.’

Key clients

The Phoenix Holding Ltd.

Wells Fargo Capital Finance LLC

Goldman Sachs

Morgan Stanley

Leumi Bank Limited

BNP Paribas Israel

Bank of Jerusalem

Bank HaPoalim

Israel Discount Bank Ltd.

Hachshara Insurance Company Ltd

Meitav Dash Investment Ltd.

Halman Aldubi Pension and Provident Funds Ltd.

Clal Insurance Company Ltd.

Harel Insurance Company Limited

Yevuley Shemesh Ltd.

Tamares Telecom Ltd.

Menora Mivtachim Insurance Company

Altshuler Shaham Ltd.

Powermat Ltd.

Xtend Scientific Ltd.

Amitim – Senior Pension Funds

The Interdisciplinary Center Herzliya

Poalim Capital Markets – Investment House Ltd

Ashtrom Group

Work highlights

  • Advised Goldman Sachs and Morgan Stanley on the $1.5bn financing of one of Israel’s largest recent M&A deals, in which Qlik acquired the shares of Attunity.
  • Advised Menora Mivtachim on the financing of the acquisition of large-scale Texas oil fields by Navitas Petroleum.
  • Advised Clal Insurance Ltd. on the financing, together with a global syndication of lenders, of a $6bn LNG business in Louisiana.

AYR – Amar Reiter Jeanne Shochatovitch & Co

AYR – Amar Reiter Jeanne Shochatovitch & Co specialises in advising lenders and borrowers on corporate and project finance, benefitting from the presence of a number of team members who have previously worked for firms outside of Israel to handle complex cross-border instructions. Yoav Caspi has broad expertise which spans M&A, banking and finance and hi-tech. Tomer Altman, who heads the firm's capital markets group, also has considerable experience advising clients on inbound and outbound investment and debt restructuring.

Practice head(s):

Yoav Caspi

Other key lawyers:

Tomer Altman; Assaf Lapid

Key clients

Hapoalim Bank

Amitim

Harel Group

Clal Insurance Enterprises Holdings Ltd.

Lemonade Group

Gindi Group

Mayer Group

Fritz Companies Israel T. Ltd.

Shafir Group

More Investment House

Phoenix Insurance Company

Halman – Aldubi

A.N.G Group

Work highlights

  • Advised Gindi Investments 1 Ltd. and Dirot Yukara Ltd. on all aspects of a transaction contemplated between Gindi Group and Blue Square Real Estate Ltd. for Blue Square’s purchase of 50% of TLV Fashion Mall.
  • Advised Teleclal on securing funding from an Israeli financial institution and private lenders.

Barnea Jaffa Lande & Co.

Barnea Jaffa Lande & Co. primarily focuses on assisting international financial institutions with regulatory requirements in Israel, such as financial licences and permits. The firm's broader offering encompasses banking litigation and insolvency and restructuring mandates. Zvi Gabbay has a strong background in financial regulation, having served as head of enforcement at the Israel Securities Authority before joining the firm.  Simon Jaffa specialises in cross-border transactions.

Practice head(s):

Simon Jaffa; Zvi Gabbay

Other key lawyers:

Niv Polani; Anat Even-Chen

Key clients

Amitim

Psagot

Israel Natural Gas Lines

BNP Paribas S.A.

China Harbour Engineering Company Ltd.

Axcel

International Bank of Azerbaijan

SMBC Nikko Securities (Hong Kong)

Work highlights

  • Advisd a group of institutional lenders, including Psagot and Amitim, in connection with a deal to finance the construction and operation of a power plant in Ashdod, owned by Shikun and Binui, for approx. NIS600m.
  • Advising Israel Natural Gas Lines Ltd. on the negotiation and conclusion of a detailed agreement with Energean for the construction and transfer of an offshore open access pipeline.
  • Representing BNP Paribas in two proceedings for the approval of a class action filed in the Central District Court against a series of foreign banks.

Yehuda Raveh & Co.

Yehuda Raveh & Co. specialises in advising Israeli banks on a wide range of transactional and operational matters, including a number of renewable energy projects. Lisa Tross, who serves as legal counsel to the Association of Banks in Israel, specialises in project financing. Ron Vered is a key name for advising funders on large energy and infrastructure projects.

Practice head(s):

Lisa Tross

Other key lawyers:

Ron Vered; Miri Simons

Key clients

Bank of Jerusalem

Hadassah Women’s Zionist Organization of America

Minrav

The Association of Banks

Poalim Bank

Israel Discount Bank

Bank Leumi Le-Israel B.M

Work highlights

  • Advising Bank of Jerusalem on a wide variety of matters including an amendment required according to the ‘Bank of Israel’ instructions, proper management instructions and senior management benefits.
  • Advised a consortium of lenders, including Bank Leumi, in relation to the BOT Tender for the Sorek 2 Project.
  • Advising The Association of Banks on all aspects of the laws and regulations applicable to its operation and corporate governance.