Banking and finance in Wales

Capital Law Limited

Capital Law Limited has a ‘wide knowledge of financial transactions’ for a balanced roster of lenders and borrowers. Reshma Jogia  leads the firm’s corporate banking offering which has expertise advising stakeholders throughout the capital structure and continues to pick up financing work from the firm’s growing private equity client base on their investments. Consultant Huw Thomas  is well-versed in commercial property finance mandates, while  Rachel Hillier  takes the lead on financial regulatory matters, including advice to fintech providers.

Testimonials

Wide knowledge of financial transactions, specifically for us being able to understand the additional implications of charity law and factor this into their advice.’

Reshma Jogia and Chris Lewis have assisted us on a number of financial transactions. They are notable for a thoroughness and attention to detail.’

Key clients

Tai Calon Community Housing Limited

Julian Hodge Bank Limited

Ascona Group Holdings Ltd

Development Bank of Wales

HSBC UK Bank plc

Wales Council for Voluntary Action

WestBridge Fund Managers Limited

Insurami Finance Ltd

Work highlights

  • Advised a fast growing roadside retail specialist on its funding requirements through a number of significant expansion focused projects.
  • Advising Hodge on its development loan facilities to Morgan Developments Wales Limited to fund the phase 1 development of 15 houses in the village of Llanon, Ceredigion and to finance the acquisition of the land for their intended phase 2 development for an additional nine houses to be constructed at the site.
  • Providing continued advice to WestBridge in connection with the variation to its £9.6m senior facilities agreement with Shawbrook Bank to deal with a switch from LIBOR benchmark to a SONIA-based interest rate.

Eversheds Sutherland (International) LLP

Under the leadership of the 'commercial and pragmatic' Joanne Canning , Eversheds Sutherland (International) LLP has cultivated very strong relationships with a range of lenders including traditional clearing banks, as well as alternative capital providers. The scope of the work is broad and includes new money mandates, as well as refinancings and traverses through the capital structure. Property finance is a particular strength with the firm handling mandates throughout the UK including a recent complex lender-side engagement to fund the acquisition and development of a purpose built student accommodation project in Scotland. Senior associate Melissa Hellio has gained an excellent lender-side perspective as a result of several bank secondments during her time at the firm, experiences which she deploys to good effect in relation to both real estate and corporate lending transactions.

Practice head(s):

Joanne Canning

Other key lawyers:

Melissa Hellio; Sali Roberts

Testimonials

‘Joanne Canning is commercial and pragmatic.’

Key clients

Barclays Bank

HSBC Bank

Royal Bank of Scotland

Santander UK

Maslow Capital

QSix Real Estate Finance

ABC International Bank

Bank Leumi (UK) Plc

Homes England

Work highlights

    Geldards LLP

    Geldards LLP provides a 'very customer-focused service' to lenders and borrowers across a range of regional and UK-wide transactions, including in the context of development and acquisition finance. Under the leadership of the 'very responsive' Karl Baranski, the team has, however, gained most visibility for its finance work for public sector clients, including Warrington Borough Council, which the team continues to advise on the financing of a £35m solar plant and batter storage facility.

    Practice head(s):

    Karl Baranski

    Testimonials

    The service provided to us is very customer focused and provided with excellent diligence.’

    They provide a prompt and professional service.’

    Key clients

    Warrington Borough Council

    Newport Transport Limited

    Development Bank of Wales

    Santander UK plc

    Lloyds Bank plc

    Handelsbanken

    Principality Building Society

    Kingdom Bank

    Work highlights

    • Advised Warrington Borough Council on the financing of a £35m solar plant and batter storage facility.
    • Advised Newport Transport on the financing of an electric bus fleet and infrastructure.
    • Advised Development Bank of Wales in relation to a debt and equity investment of a transport logistics company based in Pontypool.

    Hugh James

    Often handing the financing requirements for many of the firm's institutional corporate clients, including the Welsh Rugby Union and Celtic Manor, and also drawing upon strong lender ties with both challenger and clearing banks (including Metro and Lloyds Bank), Hugh James has an excellent perspective from both sides of the table on local and UK-wide transactions. 'Responsive and commercial' team head Dominic Marshall  has vast experience handling bilateral and syndicated financing arrangements from a working capital and event-driven perspective and has also been very active of late advising on Covid-related CLBILS loans and RLS loans. Rowena Downie is also a key member of the team and is now responsible for leading on the finance work for the firm's roster of social housing clients following Robert Morgan's recent retirement. Kelly Davies  is the key contact for real estate finance.

    Practice head(s):

    Dominic Marshall

    Testimonials

    Dominic Marshall is quick, effective and takes a commercial viewpoint not just the least risky standpoint.’

    Key clients

    Metro Bank

    Arbuthnot Latham

    Welsh Government

    Development Bank for Wales

    HSBC Bank

    Lloyds Banking Group

    NatWest

    Welsh Rugby Union

    Hodge Bank

    FEI Foods Limited

    Work highlights

    • Advised the Welsh government on the provision of debt finance to the Newport Bus Company to assist with the electrification of the company’s bus fleet.
    • Advised Merthyr Tydfil Housing Association on new debt facilities provided by THFC (The Housing Finance Corporation Limited) by way of an aggregator facility funded through a private placement.
    • Advising a start-up bank on its lending documentation and its saving terms and conditions.

    Acuity Law

    The ‘strong and well-balanced‘ team at Acuity Law provides ‘technically and commercially astute’ advice to a fairly balanced mix of borrowers and lenders across a range of transactions, including in corporate, project and asset finance settings. On the lender side, the firm has particularly strong ties with a number of specialist lenders/building societies and is regularly engaged across a range of real estate finance mandates. ‘Approachable’ team head Beverley Jones  takes the lead on many of the most significant mandates and as well as her real estate finance expertise, is also well-versed in advising on healthcare-related finance transactions. The arrival of Christopher Agius enhances the team’s real estate finance credentials, in particular, following his arrival from Capital Law Limited in September 2021.

    Practice head(s):

    Beverley Jones

    Testimonials

    They offer value with specialist advice at reasonable rates.’

    A strong well balanced team of lawyers.’

    Technically and commercially astute – understand that there are risks in many deals but that there are often ways of mitigating and minimising those risks to an acceptable level.’

    ‘Beverley Jones is approachable and displays an open, honest and clear approach.’

    Key clients

    Bluestone Resorts Wales Limited

    OakNorth Bank plc

    IQE plc

    LifeCare Residences Limited

    Principality Building Society

    Warwick Capital Partners

    Hodge Bank

    Development Bank of Wales

    Secure Trust Bank

    Work highlights

    • Advising Principality Building Society in connection with its involvement in funding the development of The Mill, Cardiff, an ambitious £100m residential led urban regeneration project on the site of an old paper mill.

    Blake Morgan LLP

    Blake Morgan LLP's 'knowledgeable' team displays a 'sureness of touch' on behalf of a range of borrowers and lenders which has been cultivated as a result of longstanding involvement in many high-profile Wales-based debt finance mandates, including within the healthcare and hospitality sectors. A 'consummate professional', team head Paul Duggan has been pivotal to the firm's success in the area and regularly advises core lender clients including Development Bank of Wales, as well as many of the firm's social housing clients on the debtor side.

    Practice head(s):

    Paul Duggan

    Testimonials

    Blake Morgan is home to a comprehensive and knowledgeable team with a longstanding reputation and a sureness of touch which inspires confidence.’

    Paul Duggan is the consummate professional and we have not yet come across an issue where he cannot provide a sensible solution.’

    Key clients

    HSBC

    National Westminster Bank

    Zip World

    Cyden Limited / iPulse Limited

    Julian Hodge Bank

    Development Bank of Wales

    Metro Bank Plc

    Caredig (previously Family Housing Association)

    Grwp Cynefin

    ClwydAlyn Housing

    Santander UK Plc

    Investec Bank Plc

    Vista Retail Support Limited

    Work highlights

    • Advised Metro Bank on the management and development of, and ongoing updates to, the Metro suite of loan and security documentation and administration of the Metro extranet containing loan, security and other transaction documentation.
    • Advised Grŵp Cynefin on an award of funding for a housing development site.
    • Advised ClwydAlyn Housing Limited on an award of funding for the collaborative scheme with Grŵp Cynefin and a further award of funding for a separate site for a housing development site.

    Clarke Willmott LLP

    Clarke Willmott LLP's Cardiff office has a niche focus on social housing finance, including development funding. Team head Fraser MacRae  has a balanced practice that sees him advising both borrowers and lenders across a wide range of secured funding, including in the context of syndicated loans and bond issuances. Bethan Evans is also recommended.

    Practice head(s):

    Fraser MacRae

    Other key lawyers:

    Vicky Kells ; Bethan Evans

    Work highlights

      Morgan LaRoche

      While it lacks a standalone banking practice, the business services and property/projects teams at Morgan LaRoche regularly handle finance mandates for lenders and borrowers, including for many of the firm's registered social landlord clients. William Barletta is the main contact.

      Practice head(s):

      William Barletta

      Work highlights