Banking and finance

In a complex and technical area of law, it is essential to have advisers who not only possess a deep understanding of financial products and remain alert to evolving market trends, but who also excel in structuring arrangements that precisely match client objectives. The banking and finance team at Penningtons Manches Cooper combines this sophisticated structuring capability with industry-leading expertise and practical insight, consistently delivering the best possible outcomes.

Financial product expertise

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.

Our service offering spans secured and unsecured credit facilities, both bilateral and syndicated; structured, 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.

In real estate finance, our expertise covers a diverse range of national and international transactions. Our specialist team has wide-ranging experience of investment, acquisition, mezzanine and development finance facilities on both a bilateral and syndicated basis. We also regularly advise on complex structuring, intercreditor issues 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 banking and finance lawyers’ expertise in warehouse financing, documentary credits, bills of lading promissory notes and bills of exchange.

They go the extra mile to advise, by understanding what the client and the bank are trying to achieve.

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 also advise extensively on financial regulatory matters arising in transactional contexts, assisting clients in securing necessary authorisations and maintaining compliance with UK and EU regulatory requirements, including MiFID II, EMIR, and AIFMD. Our regulatory specialists provide strategic insights into transactional structures, ensuring alignment with regulatory obligations and optimising outcomes for financial services businesses and fintech firms.

We have a 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 we achieve our clients’ objectives within the desired timescales.

How we help our clients

Services to lenders and borrowers

Trade and commodity finance

Financial services regulation and compliance

Syndicated, bilateral, secured and unsecured facilities

Real estate finance

Acquisition finance

Project finance

Asset finance

Receivables finance

Ship and yacht finance

Social housing finance

People-working-at-office-building-in-London

They go the extra mile to advise, by understanding what the client and the bank are trying to achieve.

They are technically skilled, but what sets them apart is their commercial aptitude and personable style.

We have worked with the team on a number of transactions in recent years and will continue to do so in the future given the efficient and reliable service.

Very good technical experts, depth of experience throughout the team, excellent links with other practice areas so they can provide a seamless service.

The team are commercial in their approach, provide concise and clear explanations of any issues that may present and engage across all levels. They are clearly knowledgeable, experienced and capable.

Recent work highlights

Renewable energy financing

Acting for a lender on a £15 million term loan facility for a UK subsidiary of an international renewable energy and hydrogen producer, involving complex intercreditor arrangements and hedging arrangements.

Debenture with corporate guarantee

Providing advice to a global hybrid multi-cloud managed service provider on a CAD$10.4 million financing with a Canadian bank, which involved a debenture and corporate guarantee.

Credit bid acquisition of vertical farming business

Representing a buyer on the credit bid acquisition of a German vertical farming business in UK administration, involving a €40 million loan agreement with complex intercreditor arrangements.

Overseas acquisition financing

Representing a borrower specialising in all aspects of the fragrance industry on a €45.2 million term loan facility for the acquisition of two overseas target companies, including advising on security documentation and ancillary documents.

Restatement of £32 million loan facility

Advising an international manufacturing group on the amendment and restatement of an existing £32 million term loan facility with HSBC Bank, including a new £8 million revolving credit facility for the acquisition of a UK-based HVAC manufacturing company.

US$50 million ferroalloys facility

Representing the London branch of an overseas bank on a US$50 million facility for the world’s largest independent ferroalloys trader, involving the financing of metals transactions secured by a trade finance security deed.

Care home group refinancing

Advising a care home group on the redemption and refinancing of credit facilities for two group companies, involving a new £18.75 million facility for the development of residential care homes.

Global energy finance facility

Acting for the London branch of an overseas bank on a US$100 million uncommitted group finance facility for a global energy and commodities trading leader.

Cross-border Islamic financing

Advising on a CHF170 million Murabaha facility for a Saudi Arabian investment group, involving Islamic finance considerations across the jurisdictions of England, Switzerland and Saudi Arabia.

Development finance facility

Advising a lender on a £32.6 million development finance facility, secured by a new legal charge and existing security and an assignment over construction documents.

Asset-based loans for mining operations

Assisting on five asset-based loans and receivables finance facilities for mining operations in the Ivory Coast, Burkina Faso, Ghana, Guinea and Angola.

£25 million term loan for three borrowers

Acting for a lender on a £25 million term loan facility for three borrowers in the self-storage sector, involving security over 17 property titles and share security from a BVI topco.