Winners of this award will operate at the cutting edge of the finance industry. We will consider one standout example of work taken from a wide range of disciplines, including bank lending, acquisition finance, structured finance, project finance and debt capital markets. The judges will give particular credence to the views of the wider finance community in deciding the winning team.
2016 WINNER: Herbert Smith Freehills
Poulton led the team advising Virgin Atlantic on the novel £220m secured bond financing of its Heathrow Airport slot portfolio, creating a structure that ensured maximum operational flexibility while also satisfying the regulators and protecting the interests of investors.
AKIN GUMP STRAUSS HAUER & FELD
Advised Lukoil on the $1bn project financing of Phase II of the Shah Deniz offshore gas exploration and production project in the South Caspian Sea in Azerbaijan, a complex deal set against the background of falling commodity prices and Russian sanctions.
Macfarlanes advised asset manager Venn Partners on its appointment to operate the £3.5bn Private Rented Sector (PRS) Housing Guarantee Scheme. The deal structure was innovative, helping Venn create a new bank/alternative lender and a government-backed bond programme that is one of the first of its kind.
Advised Lone Star on three purchases of underperforming loan assets from the Irish Bank Resolution Corporation for a combined book value over €15bn. Mulholland’s team deployed cutting-edge technology to help disaggregate the due diligence of the underlying assets, reviewing 3,000 documents in just two weeks.
SIMMONS & SIMMONS
In acting for the British Business Bank on establishing its ENABLE guarantee scheme, the Simmons team worked on the first scheme of its kind and a bespoke product that comprises elements of securitisation, credit derivatives and financial guarantee technology with the aim of stimulating lending to SMEs.
WEIL, GOTSHAL & MANGES
In a high-profile deal that involved the complex merging of two financing products, Donald lead a banking and high-yield team advising Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch, Nomura and Nordea Bank on the multibillion-euro financing of Hellman & Friedman’s acquisition of Securitas Direct.