Banking
Allen & Overy fields one of the market’s pre-eminent banking practices with over 650 lawyers worldwide. We are at the heart of the world’s financial markets and have been instrumental in nearly all the major banking developments in the modern era. We count amongst our clients numerous global corporate and financial institutions that entrust us with the full range of domestic and cross-border transactions and rely on the depth and breadth of our expertise, intellectual rigour and proven track record of finding successful and commercially astute solutions.
Our banking practice is split into eight product lines: General Lending, Investment Funds, Leveraged Finance, Project Finance, Real Estate Finance, Structured Asset Finance, Financial Services Regulatory, and Restructuring.
Typically, a trainee will prepare information for counsel, draft documents and letters, liaise with clients, attend meetings and oversee completion matters and signings. The work is challenging but the banking department ethos is underpinned by team work and camaraderie.
Notable transactions our banking lawyers have worked on recently include advising:
- NASDAQ OMX in relation to UK regulatory matters, including its holding in the London Stock Exchange;
- Banco Santander, Barclays Capital, BNP Paribas, Deutsche Bank, Fortis, ING, JPMorgan, Mizuho, The Bank of Tokyo-Mitsubishi and The Royal Bank of Scotland on the USD 55 billion financing for InBev’s bid for Anheuser-Busch;
- HSBC on the financing and acquisition and buy-back of HSBC Tower, its global headquarters, at 8 Canada Square in Canary Wharf from Spanish property group Metrovacesa for a total consideration of GBP 838 million. This was the largest single property UK real estate transaction of 2008.;
- Angel Trains UK on the signing of contracts with train manufacturer Alstom for the supply of new Pendolino rolling stock and a 10-year maintenance regime worth a total of GBP 1.5 billion;
- UBS as arranger and underwriter in connection with the financing of the USD1.2bn acquisition of the Almatis Group by Dubai International Capital;
- the four export credit agencies (ECGD, KEIC, K-EXIM and SACE) and the commercial lenders to Saudi Kayan Petrochemical Company on the USD 10 billion Saudi Kayan Petrochemical Project. When constructed, Saudi Kayan will be the world’s largest integrated petrochemical complex in Saudi Arabia;
- Tishman Speyer on its European Strategic Office Fund, European Real Estate Venture VI Fund and European Core Fund FCP-SIF, its equity co-investment arrangements, and feeders for its Brazil and China funds; and
- the administrators on the Metronet restructuring, the largest formal insolvency procedure ever seen in the UK.
“The premier banking firm in the UK, if not the world.” Chambers UK 2009
You can find more information about the Finance: Banking practice area on the main Allen & Overy website.