BANKING & FINANCE. About Brodies. Recognition of excellence. About Banking & Finance at Brodies

Transcription

1 BANKING & FINANCE About Brodies An independent Scottish law firm headquartered in Edinburgh, with a national and international capability, Brodies has a reputation for uncompromising quality, expertise and innovation. Within the last decade Brodies has doubled its staff to over 600, more than doubled its revenue and built up a talent bank of lawyers who operate across its offices in Edinburgh, Glasgow, Aberdeen and Brussels and service virtually every sector from biotech research and life sciences to complex infrastructure projects and cross-border real estate transactions. Brodies is ranked No.1 in 28 key practice areas by leading independent legal directories and is widely acknowledged as being the dominant firm in the Scottish marketplace. Whether advising on Scottish or English jurisdictional work, or working together with you on complex cross-border transactions, Brodies has the local market knowledge combined with market-leading expertise to deliver tailored advice in all relevant business areas and sectors to support our specialist Banking & Finance team in giving advice on finance. Recognition of excellence Law Firm of the Year, British Legal Awards 2014 Named as Scotland firm of the year Legal 500 Awards 2014 Named as Legal Advisor of the Year Deals & Dealmakers Awards 2014 We have recently been awarded Scotland Law firm of the Year 2014 by Who's Who Legal, which is the fifth time we have received this accolade. Bill Drummond Managing Partner of the Year, Scottish Legal Awards 2014 Bill Drummond named one of Scotland s leading entrepreneurs, EY Scotland Entrepreneur of the Year Awards 2014 About Banking & Finance at Brodies Our Banking & Finance team is one of the largest in Scotland measured by full time specialist members, and has grown spectacularly since the financial crisis. We have achieved market-leading revenue growth of 30% in the last year alone, and an annualised growth rate of 22% over the last five years, whilst our competitors have been falling back or disappearing altogether. We ve achieved this by embracing change, adapting to the post-crisis finance markets, and investing significantly in team members and in supporting our local markets. We have a reputation for involvement in innovative financing deals and for promoting thought leadership in the sector. Led by recognised banking specialists, we have the knowledge, sector expertise and experience to provide our services in a proactive, responsive and commercial manner. This has led to the building of our market share as others decline. We are the new breed of finance specialists in Scotland.

2 Our Leading Reputation They are easy people to deal with, and get transactions done with efficiency and good humour to boot. They set a very good benchmark by which we judge other firms." Chambers & Partners 2014/15 first-class' Brodies LLP is praised for its commercial outlook', responsive service' and depth of legal knowledge'. The Legal

3 All Round Expertise in Banking & Finance Our Recent Financing Transactions Our recent signature transactions are all about growth and innovation. Here is a selection: GRAHAM S FAMILY DAIRY Financing the expansion of Scotland s largest independent dairy with debt and asset finance, enabling it to WHEATLEY BOND ISSUE Financing the largest social housing group in Scotland through a bond issue which will enable expanded provision of social and affordable DRAMBUIE ACQUISITION Financing William Grant & Sons purchase of signature food & drink brand Drambuie, an investment grade transaction, acting for funders. ATLANTIS RESOURCES Financing the first phase of Europe s first marine energy tidal power project located in the Pentland Firth, acting for the developers Atlantis and STEMCOR RESTRUCTURING Advising on the award-winning 2.5bn group restructuring of one of the world s largest steel traders, acting for the co-ordinating RAMCO ACQUISITION Financing Ramco s acquisition of Pipetech International, a business operating in the oil and gas service sector in the UK/Norwegian TOSCA UKCP ACQUISITION Financing the acquisition by Tosca of the Empire portfolio across four jurisdictions with complex contractual and subordination mechanics, acting POINT & SANDWICK Financing Scotland s largest community wind farm project, on the Isle of Lewis, and establishing a template model for community INVESTMENT TRUST Financing the gearing up of global investment by a flagship Scottish Investment Trust to enable it to take advantage of improving market

4 Our Specialist Knowledge Our involvement in the key sectors in Scotland s economy, such as Food & Drink, Energy, Healthcare and Housebuilding, means we can demonstrate deep specialist knowledge working with our colleagues across the firm. These are our principal areas of focus: ACQUISITION & STRUCTURED FINANCE Scottish corporates and SMEs are now in growth mode and looking to access the restored liquidity in the finance markets to assist with acquisitions and developments in the key sectors in Scotland s economy. Sources of funding include alternative credit providers, as well as the established banks and new challenger entrants. REAL ESTATE FINANCE There have been significant recent acquisitions of major real estate investment and development assets in Scotland funded by debt, including in the retail and leisure sectors, as well as a flow of real estate loan book sales and purchases, as the property market sees land valuations stabilise. Investors include global institutional funds as well as developers. ENERGY FINANCE Our renewable energy practice is market-leading and has helped finance onshore wind, offshore wind, hydro, solar, biomass and anaerobic digestion projects over recent years. Funding sources remain active and The Green Investment Bank is making an impact. Oil & Gas sector development financing has also been very active over recent months. INFRASTRUCTURE FINANCE The NPD programme promoted by the Scottish Futures Trust, and the development of Cities Alliance between the major local authorities, underpin the Scottish Government s ambitious capital investment policies. The Government is shortly to receive increased borrowing powers, which will help it develop a strong pipeline of economic and social FUNDS FINANCE The Scottish Limited Partnership, which has full tax transparency but is a separate legal entity, can be a crucial part of the structuring of complex cross-jurisdictional financings by Fund vehicles. We see its increasing use in the private equity sphere of investment funds, often alongside offshore entities, which enable the raising of short-term bank HOUSING FINANCE We have helped create new models of development financing, such as the National Housing Trust, and new projects such as the Mortgage Guarantee Scheme, aimed at increasing the demand for, and the supply of financing for, new housing in Scotland. Financial innovation in the provision of social and affordable housing is a key part of our CAPITAL MARKETS A number of recent bond market issues, public and private, and the beginnings of a new securitisation market have demonstrated that the capital markets are functioning again and indeed are extending into new products such as project bonds. As an example, listed bonds were issued on the Speyside Biomass Plant project, covered by a UK Government ASSET FINANCE Tax efficient sale and leaseback arrangements, invoice discounting facilities for corporates, and structured asset finance solutions remain an important part of the funding mix in Scotland. Asset finance is relevant both to an SME s everyday cashflow needs, and also to the largest public asset procurements such as by the train-owing companies and RESTRUCTURING & INSOLVENCY Market focus is on a mix of solvent restructurings, including impaired-asset disposals, along with pre-pack administration arrangements which enable past problems to be resolved and core businesses to be preserved and then begin expansion again. The availability of financing to support investment in impaired assets has greatly helped this process. RETAIL FINANCE & FINANCIAL SERVICES Regulatory changes in the UK and EU, coupled with the imminent ring-fencing of UK banks, the introduction of challenger banks, and the prospect of further personal tax devolution in Scotland are foremost in our clients minds. Our team has extensive in-house secondment experience of the regulatory and market pressures in this sector. For thought leadership and up to date market reviews be sure to read our regular banking and financial services e-bulletin Credo and visit our Banking Blog.

5 Your team contacts Bruce Stephen - HEAD OF BANKING +44 (0) bruce.stephen@brodies.com Alan Knowles +44 (0) alan.knowles@brodies.com Peter Kelly +44 (0) peter.kelly@brodies.com Colin McIntosh +44 (0) colin.mcintosh@brodies.com Michael Stoneham +44 (0) michael.stoneham@brodies.com Neal Richardson +44 (0) neal.richardson@brodies.com Amy McVey +44 (0) amy.mcvey@brodies.com Andrea Fairfield +44 (0) andrea.fairfield@brodies.com Fiona Cameron +44 (0) f.cameron@brodies.com Louise Laing +44 (0) louise.laing@brodies.com Marion MacInnes +44 (0) marion.macinnes@brodies.com Sophie Coffey +44 (0) sophie.coffey@brodies.com Gayle Booth +44 (0) gayle.booth@brodies.com Jack Moir +44 (0) jack.moir@brodies.com Kimberley Forman +44 (0) kimberley.forman@brodies.com Kate McKay SOLICITOR +44 (0) kate.mckay@brodies.com John Stephen +44 (0) john.stephen@brodies.com Iain Walker SOLICITOR +44 (0) iain.walker@brodies.com