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Burges Salmon LLP

Living Wage
Work 0117 939 2000
Fax 0117 902 4400
Bristol, London

Richard Leeming

Work 0117 939 2216
Burges Salmon LLP

Work Department



Partner and head of banking; specialises in the following areas: acquisition finance, corporate banking; property finance and securitisation. Clients include HSBC, ICG Longbow, Lloyds Banking Group, National Express Group and RBS.


Trained Ashurst Morris Crisp; qualified (England) 1993 and (Scotland) 2016; joined Burges Salmon 1994; partner 2000.


Attended University of Southampton (1988 History, Politics and Economics); College of Law, Chester (1989-91 CPE and LSF).


Rugby, running, cycling and Nordic skiing.

London: Finance

Bank lending: investment grade debt and syndicated loans

Within: Bank lending: investment grade debt and syndicated loans

Leveraging strong ties with UK clearing banks including HSBC and Lloyds, and also regularly advising blue-chip corporate clients of the firm (including National Express Group plc and First Group plc), Bristol-based Burges Salmon LLP handles a significant volume of finance work relating to inter alia, corporate lending and acquisition finance. Team head Richard Leeming recently advised HSBC on a £80m revolving credit facility to a joint venture between Kier Living and a housing association for the acquisition and development of various residential property sites. On the borrower side, Leeming regularly handles financing work for National Express Group plc, recently advising it on two $30m general corporate finance bilateral facilities with both Bank of Tokyo-Mitsubishi UFJ and Bank of America Merrill Lynch. The 'calm and sensible' Rachael Ruane is also recommended.

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Derivatives and structured products

Within: Derivatives and structured products

The derivatives practice at Burges Salmon LLP advises major corporates, including FTSE100 companies and funds, among which are National Express and Emirates Group. For transport operator FirstGroup, the firm advised on numerous transactions including negotiation of ISDA master agreements and related credit support arrangements, as well as assisting with regulations such as EMIR. Head of derivatives Graham Soar handled those deals, and he also acted for Premier Fund Managers in ISDA agreements and credit support arrangements with several banks. Key partner Richard Leeming acted for Santander UK in the review and negotiation of ISDA master agreement and credit support arrangements for Wales-based taxi company Veezu in connection with a loan made by the bank to fund the company's acquisition strategy. Soar and Leeming have the support of strong senior associates Katie Allen and Alistair Rattray.

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London: Real estate

Property finance

Within: Property finance

The 'very strong' team at Burges Salmon LLP acts predominantly for lenders, including traditional clearing banks such as HSBC, RBS and Lloyds and, increasingly, new lenders such as Gravis Partners, Temporis Capital, ICG Longbow and Helaba; it is noted for its specialisms in student accommodation, hotels, healthcare and housing, among other sectors. Practice heads Richard Leeming and Paul Browne acted for HSBC in relation to the £162m refinancing of Harbour Hotels, and Leeming and Sally Jupp - who 'both focus on client commercial advice and relationship development to ensure a completely immersed service delivery model' - advised the same client on the provision of an £80m revolving credit facility to a joint venture between Kier Living and a housing association for the acquisition and development of various residential property sites. The team also acted for Helaba on the financing of Embankment GP's acquisition of an office building in Manchester.Colin Ligman, Rachael Ruane and senior associates Katie Allen and Alastair Rattray are also noted.

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South West: Finance

Banking and finance

Within: Leading individuals

Richard Leeming - Burges Salmon LLP

Within: Banking and finance

By some clients‚Äô reckoning, Burges Salmon LLP‚Äôs banking department ‚Äėhas proved itself able to stand toe-to-toe with top London firms‚Äô. In addition to its core mid-market lending work, the team is highly recommended for senior financing and US private placement transactions and is also instructed by a number of blue-chip borrowers. Department head Richard Leeming¬†advised HSBC Bank on the refinancing of Harbour Hotels by way of a ¬£112m term loan with a ¬£50m accordion option. Similarly, Rachael Ruane¬†acted for RBS on the refinancing of a residential property developer‚Äôs revolving credit facilities. On the borrower-side, Leeming assisted National Express Group with two separate $30m bilateral facilities, one with Bank of Tokyo-Mitsubishi, and the other with Bank of America Merrill Lynch International. The group is increasingly instructed by alternative lenders. Indeed, acting across from two Magic Cricle firms, Nathan Curtis¬†acted for a UK asset manager, as mezzanine lender, on a high-value mortgage-backed warehouse facility. Further, the ‚Äėpragmatic‚Äô Graham Soar¬†advised Aerium Finance on the financing associated with the client‚Äôs acquisition of units in a Jersey property unit trust; the financing was provided by an ultra-high-net-worth Middle Eastern shari‚Äôah investor. Andrew Eaton¬†is another key contact and senior associates Ed Hobbs¬†and Katie Allen¬†are recommended.

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Legal Developments by:
Burges Salmon LLP

  • Restoring environmental damage: putting a price on ecosystem services

    On 7 August 2009 a 40-inch pipeline ruptured, spilling 5,400 cubic metres of crude oil into the soil and groundwater of La Crau nature reserve in southern France, a habitat protected under French and European law. The operator had to excavate and replace 60,000 tons of soil, install 70 wells to pump and treat groundwater and 25 pumps to skim oil from surface water, at a cost in the region of ‚ā¨50m. However, this was just the primary remediation (that is, restoring the site to the state it would have been if the damage had not occurred). The operator was also required to compensate for the damage to the habitats and the loss of the ecosystem services that would otherwise have been provided by La Crau nature reserve. Measures included purchasing land outside of the nature reserve and contributing to its management for a period of 30 years (over ‚ā¨1m), monitoring the water table for 20 years (over ‚ā¨500,000), monitoring fauna over three years (‚ā¨150,000) and rehabilitation in accordance with best available ecological techniques (nearly ‚ā¨2m). Overall, the compensatory restoration (to compensate for the amount of time that the ecosystem was impacted) and complimentary restoration (to compensate for elements of the ecosystem that had been permanently lost) came to more than ‚ā¨6.5m. ‚Ä©
    - Burges Salmon LLP

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