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Banks

A significant portion of our Corporate, Banking, International Capital Markets and Litigation practices are dedicated to serving the legal needs of our international bank client base.

Banks of all shapes and sizes, from domestic retail to international commercial and investment banking conglomerates, have relied on Allen & Overy’s FIG team to advise them through the financial crisis through to the current sovereign debt crisis. For example, we have helped banks: undertake capital raisings and liability management exercises to shore up finances and comply with new regulatory capital standards; restructure their operations to focus on core businesses; embark on major multi-jurisdictional outsourcings; acquire assets and businesses being offloaded by distressed institutions; defend themselves and key individuals from actions and proceedings resulting from cases brought as a result of the financial crisis; restructuring and insolvency proceedings, including on issues relating to custody and title to assets; and navigate the myriad of regulatory initiatives and proposals emanating from global, European and national bodies, including Dodd Frank, the various Recovery and Resolution Plan proposals in the UK, U.S. and Europe, the Independent Commission on Banking’s report in the UK, and Basel III and CRD IV to name a select few.

In relation to the business that banks provide their customers, a significant share of our Finance and regulatory work is devoted to advising our bank clients on the full range of products and services they offer. This includes: asset finance; debt and equity capital markets; derivatives and structured finance; general lending; leveraged finance and high yield; projects, energy and infrastructure, real estate finance; and securitisation. These are described in greater detail in the Finance section of our website.

News & insights

News: 09 MARCH 2020

Bank of China Macau Branch first Chinese issuer to issue social bonds in the offshore market

Allen & Overy advised the joint lead managers and joint bookrunners on a dual-currency senior small and medium enterprises (SMES) themed (COVID-19 Impact Alleviation) social bonds issuance. This is the first social bonds issuance from a Chinese issuer in the international capital markets.

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News: 11 FEBRUARY 2020

Allen & Overy hosts Inaugural Canadian Banks Workshop

Allen & Overy hosted our Inaugural Canadian Banks Workshop in Toronto, Ontario on January 30, which brought together legal and business teams from RBC, Scotiabank, BMO and T.D. Bank, for a one-day seminar on how to handle a shifting regulatory and legal landscape.

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News: 15 JANUARY 2020

Allen & Overy advises on Leonard Green and Novo Holdings' acquisition of WCG Clinical

Allen & Overy has advised the lead arrangers and administrative agent on the USD1.045 billion syndicated financing for the acquisition of WCG Clinical by Leonard Green & Partners, L.P. and Novo Holdings A/S. 

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Publications: 18 JULY 2019

U.S. continues aggressive sanctions and anti-money laundering enforcement against non-U.S. banks

When assessing anti-money laundering risk and exposure, global financial institutions should be mindful of the complex landscape and assertions of broad authority by U.S. authorities and banking regulators. A multinational financial institution with a U.S. branch may find its worldwide activities scrutinized by U.S. banking regulators even if its branch does not service those activities, and what’s more, even without a U.S. branch, a bank may still have civil or criminal U.S. exposure for payments cleared in the United States.

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