Recent work
Caroline is Head of our Debt Capital Markets practice. She has a broad international practice covering banking, capital markets, securitisation, derivatives and structured finance in which she advises issuers, borrowers and counterparties of all types. Caroline is qualified in England and Wales.
Caroline regularly acts for a number of UK and international companies – from FTSE 100 companies to large private companies, from PE Sponsors to their portfolio companies. Recent clients include: Athora, Aviva, Barratt Developments, Canada Life, Corsair, Currencies Direct, Drax Group, INEOS, Just Group, KPS, Ovo Energy, Palamon, Pension Insurance Corporation and Walmart.
Recent highlights include:
- advising Athora on the acquisition financing for its acquisition of VIVAT N.V’s life and asset management business from Anbang Group Holdings Co Ltd;
- advising Drax on the entry into two environmental, social and governance facility agreements where the margin adjusted based on Drax’s carbon emissions against an annual benchmark – these facilities were the first of their kind for an electricity generator;
- advising numerous insurers, including Aviva, Canada Life, Just Group and the Pension Insurance Corporation, on their RT1, T2 and T3 regulatory capital issuances and/or on complex collateral arrangements to support risk transfer arrangements;
- advising Ovo Energy, the UK’s leading independent energy supplier, on its acquisition financing for the purchase of SSE plc’s GB household energy and services business;
- advising various INEOS group companies on numerous financings, including, term loan B facilities, revolving credit facilities, senior secured note issuances, high yield issuances and trade receivable securitisations; and
- advising PE Sponsors on the financing of their investments and providing ongoing support to the treasury functions of their portfolio companies.
Caroline is listed as “highly regarded” in IFLR 1000 for “banking” and is ranked in Legal 500 for acquisition finance, debt capital markets and high yield, where she is described as “technically very gifted”.
She is the European Regional Forum Liaison Officer on the International Bar Association’s Banking Law Committee and is a visiting lecturer, teaching banking and capital market finance on the Vrije Universiteit (VU) Amsterdam’s Finance Masters course.
"Caroline Phillips is absolutely amazing. She is really knowledgeable and can advise us on a commercial and strategic level." Chambers 2027 UK
"Caroline is a truly class act. She is hugely commercial and always available to help. I couldn't ask for more." Chambers 2027 UK
"Caroline is excellent. She has great depth of knowledge of our business and the financing market, and she adopts a pragmatic but challenging approach to matters and opposing counsel. She is very much my trusted legal adviser." Chambers 2027 UK
"Caroline is a leading expert in the area. She is the ultimate safe pair of hands." Chambers UK 2027