The Financial Services sector is at the core of BLP. Our global team combines expertise in the full range of transactional, regulatory, advisory and litigation issues that financial institutions face; so that whether you are facing an FCA investigation, or need to complete a complex structured finance transaction, we have the right team to support you.
Our approach is simple. We take the time to understand your commercial objectives and use our extensive sector knowledge and our innovative delivery models to achieve them, in the most efficient way possible.
We advised 400+ financial institutions last year on a range of issues, including:
Our Singapore office advised Standard Chartered Bank in relation to a structured financing of a fleet of vessels for a Korean shipping company, which included commercial financing. The complex cross-border deal, worth US$300m, is a significant development for the bank in its relationship with a new Asian shipping client, and relied upon the combined expertise of BLP’s Tax and Asset Finance teams.
We acted for ABC Islamic Bank in relation to their US$40m Islamic financing for leading infrastructure project developer, contractor and facilities management provider Kharafi National, of a development site in Kuwait
We advised Sberbank on the acquisition of a 25%+1 share in Detskiy Mir – Center, the largest children’s retail store network in Russia. The deal value was RUR3.4bn.
We advised Close Brothers on the sales of Moody International to Investcorp for US$311M, by way of a secondary buy-out. We also advised the same client on the sales of United Transport International to AIM-listed Interbulk for £79.5m.
We have advised Mid Europa Partners on a wide range of acquisitions and disposals. Examples include the acquisition of a strategic stake in Energy 21, the largest Czech-based independent developer and operator of solar power in Central and Eastern Europe; the acquisition of Austrian mobile operator, One GmbH; the acquisition of 100% of the Slovenian cable and broadband operator, UPC Slovenia, from Liberty Global; and the sale of global cement supplier Calucem’s operating assets to private equity firm, ARGUS Capital Partners.
Our team advised Clal Insurance, the leading Israeli insurer and part of the listed IDB Group, on the sale of its Lloyd’s Syndicate 1301 and its corporate members, Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited, to Torus Insurance Holdings. We put in place a number of innovative time-apportioned risk-sharing mechanisms together with detailed provisions dealing with provision of capital, order of draw-down of Funds at Lloyd’s, reinsurance to close, allocation of expenses, reinsurance premiums and recoveries and interaction with the third party managing agency agreement.
Acting for ICBC Financial Leasing Co., Ltd, we advised the lessor on the US$58m financing of 2 Airbus A320 Aircraft to Air Asia, subject to a Head lease and two tier sub-leasing structure. We were responsible for coordinating the Lessors financing and security arrangements in Malaysia and Thailand.
Acted for private equity houses TPG and Patron Capital in their bid to buy a €603m senior loan, collateralising a Dutch CMBS and thereby taking control of the underlying borrower, Uni-Invest. Our role involved advising the client on the structuring and execution of the transaction, including the enforcement process, the securities exchange offer to the Class A Noteholders and a new CMBS transaction. As the first European CMBS to default on the note final maturity date, the transaction is widely regarded as an innovative deal which will serve as a precedent for many other CMBS defaults across Europe which will follow over the next few years.
We were successful in forcing two US insurance companies to abandon their US$200m claim against Randall & Quilter and its Chairman. We succeeded in establishing in both the New York and English courts that New York proceedings were commenced in breach of an English exclusive jurisdiction clause and our clients were awarded substantial damages for legal costs.
We are advising Lloyd’s Syndicates and company insurers on a substantial claim arising from the political turmoil that occurred in Northern Africa in 2010-11. Our clients provided facultative reinsurance for a major infrastructure project through a local fronting insurance company.