Derivatives have become an essential tool for the management of risk and a flexible and exciting vehicle for clients to explore investment opportunities. We advise on the full range of OTC and exchange-traded derivatives and we cover the full spectrum of underlyings, from plain vanilla interest rate and currency derivatives, through commodity, credit and equity-based products and derivatives linked to real estate, insurance and pensions. Our clients range from sophisticated financial institutions to occasional end-users of derivatives. We regularly work with banks, insurers, pension funds, investment funds, sovereign entities and we are well known for advising the treasury departments of corporate clients.
Areas of our derivatives practice with particular strength include our ability to advise on:
- complex and innovative derivatives products and structures, often forming part of a wider structured finance or securitisation transaction;
- leveraged loan and portfolio credit default swaps, total return swaps relating to loans, bonds, asset backed securities and equities, structured notes, repo financing structures and equity backed collar financings;
- repackaging of assets and/or cash flows and implementation of asset allocation strategy;
- derivatives within restructuring and insolvency matters as well as high profile disputes and regulatory investigations relating to derivatives and benchmark rates; and
- the expanding and evolving landscape of derivatives regulation.
Advising International Consolidated Airlines Group SA on the production of an Annex to the 2000 GMRA which would serve as a template to be used by different IAG entities (for examples, British Airways, Vueling and Iberia) with two sets of provisions in certain areas (such as tax) depending on whether the applicable entity was domiciled in England or Spain.
Advising DS Smith plc on the preparation of a pro forma ISDA Schedule to be sent by DS Smith plc to various financial counterparties.
Advising Reinet Fund SCA, FIS on its entry into a £250million Margin Loan Facility with Bank of America, N.A., London Branch.
Advising Dexia Crediop in relation to a claim that arises out of certain interest rate swap transactions entered into by the Dexia and the Province of Brescia pursuant to an ISDA Master Agreement, including successfully defeating Brescia’s jurisdiction challenge.
We are client focused rather than product focused. Central to our culture is the priority we give to the specific needs of our clients with whom we develop strong professional and personal relationships.
Our extensive experience, combined with our lawyers technical excellence and commercial awareness enables us to deliver creative and practical solutions on a wide range of international transactions covering the full spectrum of precedent types and exposures.