Slaughter and May advised H.M. Treasury on the Covid Corporate Financing Facility

Slaughter and May, working as an integrated team with Treasury Legal Advisers, advised H.M. Treasury on the Covid Corporate Financing Facility (the “CCF Facility”) which was announced by the Chancellor of the Exchequer on 17 March 2020.

The CCF Facility will be operated by the Bank of England on behalf of H.M. Treasury and will address the potential economic impacts of Covid-19 by providing funding to companies making a material contribution to the UK economy by purchasing commercial paper of up to one-year maturity. Companies do not need to have previously issued commercial paper in order to participate in the CCF Facility. The CCF Facility will operate for an initial period of 12 months.