In a marketplace which has seen significant change in the last decade, it is important to have advisers with a deep understanding of financial products and who are alive to new and evolving trends such as the rise of alternative lenders. The banking and finance team at Penningtons Manches Cooper has the expertise and industry knowledge to deliver the best possible results for clients.
We advise on a broad spectrum of funding arrangements - from day to day banking and finance transactions to complex, cross-border international trade and investment projects. Our banking and finance lawyers act for both borrowers and lenders, supporting owner managed businesses, banks and corporations as well as some of the world’s most prominent financial institutions, including a number based in London.
Our service offering spans secured and unsecured credit facilities, both bilateral and syndicated; development and property finance, including social housing; trade and commodity finance; acquisition finance; project finance and asset finance, including ship and yacht finance. We also specialise in receivables finance, currency and interest rate hedging, mezzanine finance and other structured finance transactions, including sophisticated intercreditor and security sharing arrangements.
Financial institutions and commodity companies worldwide consult our trade and commodity finance practice on receivables, letters of credit, pre-export, prepayment and borrowing based facilities. They also rely on our lawyers’ expertise in warehouse financing, documentary credits, bills of lading promissory notes and bills of exchange.
Our considerable history in the maritime and transport sector means we are regularly appointed to advise on all aspects of ship and yacht finance transactions, including build and repair contracts and credit and lease finance arrangements. Resolving complex, multi-jurisdictional matters is our signature strength in this area.
We have a well proven track record across a number of sectors, including technology, healthcare, social housing and education. Our banking and finance lawyers work closely with members of several other specialist teams within the firm to ensure that we are able to achieve our clients’ objectives within the desired timescales.
Acting for the borrower on a £120 million financing. The funds were provided in two tranches for the purchase of the property and its subsequent development into a high-end hotel in the centre of London.
Acting for the lender on a US$500 million uncommitted multicurrency facility where key elements were the priorities, covenants and terms of the borrowing groups’ related financing arrangements.
Advising the borrower, one of the largest social businesses in the UK, on its £27 million financing. The facility, based on Loan Mark Association documentation, comprised term, revolving credit and development facilities and also included ‘green covenants’ to reflect the borrower’s ethical credentials.