Banking & Finance: Borrowers - London (Firms)
Basic facts about the department
-49 other qualified lawyers
What the team is known for Continues to perform at the highest level across the board on leveraged finance, investment grade and emerging markets transactions. Dominant presence on both the borrower and lender sides due to the scale and experience of the team.
Strengths (Quotes mainly from clients)
Bench strength: "Pragmatic, hard-working and knowledgeable, with a good spread of experience and a large talent pool."
Problem solving: "They have a depth of legal resources and skills available, and a commercial approach to problem solving."
Market standing: "They have an elevated view of the market and a depth of experience; they don't waste time."
Work highlights Represented a syndicate of lenders, made up of more than 90 banking institutions, on the USD12.47 billion revolving credit facilities provided to Glencore International and Glencore Singapore.
Advised on a dual currency financing provided to borrower client Türk Telekomünikasyon. The three-year term loan facility was made up of a USD285.12 million tranche loan and a EUR239.4 million tranche loan.
Habib Motani maintains a very highly regarded Islamic finance practice and has been working closely with ISDA and IIFM of late on the preparation of cross-currency swap and profit rate swap confirmation templates.
Michael Bates earns plaudits for his high-profile banking practice, recently acting for a nine-bank club providing EUR3.2 billion of funding for Macquarie's acquisition of Opengrid Europe. He is known as a strong, hands-on practitioner who "will challenge his own clients if he thinks they are not being flexible enough, and he has a strong reputation which helps to get things done."
Mark Campbell maintains a stellar reputation in the market, and recently advised the eight co-ordinating banks on the refinancing of CEMEX's debt, a transaction worth over USD7 billion. He consistently attracts positive commentary, with one source noting: "He has a very broad understanding of transactions and the market; he's down to earth and keen to get to the right answers."
Charles Cochrane recently acted on a complex amendment and restatement of existing facilities on behalf of BNP Paribas and Deutsche Bank, adding a further £260 million senior term loan facility. He is lauded for his "ability to bring complex concepts down to an understandable level," and is further described as "very commercial, hard-working and able to juggle numerous things all at once."
Distinguished partner Alan Inglis has been busy of late with mandates from BNP Paribas, SA Surcursal en Espana and Crédit Agricole, working on amendment and restatement and amend-to-extend transactions respectively. He is highlighted as "one of the big players" in the field.
James Johnson receives glowing reviews from market commentators, who describe him as "very impressive," "very commercial" and "very effective at getting things done." He is an extremely effective lender's counsel, acting recently for Lloyds and Citibank, amongst others.
Jim MacHale has the full confidence of his clients, who mark him out as being "exceptionally experienced," with one source adding: "He has a good balance of being commercial, but when it comes to belt-and-braces stuff he is on the ball constantly." MacHale recently represented a syndicate of six lenders in the provision of an acquisition facility worth £125 million.
Nicola Wherity has advised on an impressive number of matters of late, including an USD8.5 billion revolving credit facility extended to Nestlé by client Citigroup Global Markets. She is "practical, very clear in getting her thoughts across, very commercial and market-aware, and hard-working," according to impressed sources.
Emma Folds has a thriving practice focusing on European acquisition finance transactions. A recent highlight saw her advising mandated lead arrangers Citibank, Commerzbank, DZ Bank, Rabobank and Deutsche Bank on EUR131 million of financing for the acquisition of Kobusch. She is identified as a "commercially effective negotiator."
Roderick McGillivray is a highly visible partner in this space, regularly acting on some of the most high-profile transactions in the market. He was mandated to act on behalf of Anheuser-Busch InBev in connection with USD14 billion financing for the acquisition of Grupo Modelo SAB.
Hard-working partner Karen Hodson receives favourable reviews from peers, who describe her as "one of the easiest lawyers to deal with, and very good as well." She has been active on the acquisition finance side of late, advising the lenders on senior and mezzanine financing for Cinven's purchase of CPA Global.
Highly regarded partner Robert Lee acts for lenders on both a domestic and cross-border basis, as well as advising borrower clients such as venture capital houses.
Malcolm Sweeting remains a standout name among peers and is admired for his experience and collaborative style. He recently oversaw AB Volvo's multicurrency revolving facility, worth EUR1.2 billion.
Peers emphasise Taner Hassan's ability and activity levels. He led the team advising borrower client Türk Telekomünikasyon on its dual-currency financing.
Significant clients Qatar Islamic Bank, HSBC, Credit Suisse, AB Volvo, Anheuser-Busch InBev.