Finance In the United Kingdom

Allen & Overy is at the heart of the world's banking and financial markets. Few practices can match the quality of our people, the breadth of our client base, our global reach and our top tier position across the full range of financial products. We have been instrumental in nearly all the major developments in the modern financial markets, starting with the first ever eurobond issue in the 1960s.

We advise over 800 corporate and financial institution participants in the financial markets. They entrust us with the full range of their domestic and cross-border transactions. They rely on us for the depth and breadth of our expertise, our intellectual rigour and our proven track record of finding solutions and completing the transactions we work on. We have over 1,000 banking and finance lawyers worldwide working together to demonstrate these qualities in their professional lives

Insight

As expected, the European Central Bank (ECB) has published its revised collateral haircut schedule. The revised schedule will take effect from 1 January 2011.
In early July, the German Bundestag (the lower house of parliament) passed a law which increases the 5 per cent. minimum retention level referred to in the Capital Requirements Directive (CRD) to 10 per cent from 2013.

deals & cases

Allen & Overy LLP advises Eksportfinans ASA and GIEK in relation to the restructuring of senior debt construction and post-construction project financing for Sevan 300 Pte. Ltd.
Allen & Overy LLP advises a lender syndicate in relation to the restructuring of the senior debt construction and post-construction project financing for Sevan Drilling Pte. Ltd.
contacts

Partner
Peter Schulz, a partner in the Banking department in London, advises major banks and corporates on a broad range of financing matters, including syndicated and structured lending, acquisition financing and workouts and restructurings.

Partner
Andrew Trahair is joint Managing Partner of the global banking practice, based in London. He has extensive experience in a wide range of banking and finance transactions.

Partner
Randal Weeks is a partner in the General Lending and Restructuring practice and has broad general banking, structured finance and debt restructuring experience. His deals include acting for Marconi on its debt restructuring, acting on German and Italian NPL financings and acting for the senior lenders to the Meridien group in their syndicate-wide debt sale.


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