Baker & Mckenzie and Norton Rose Fulbright act on £1.35bn Battersea Power Station financing
Baker & Mckenzie and Norton Rose Fulbright scored the advisory mandates on a £1.35bn financing deal for London's iconic Battersea Power Station.
October 29, 2014 at 08:10 AM
2 minute read
Baker & Mckenzie and Norton Rose Fulbright scored the advisory mandates on a £1.35bn financing deal for London's iconic Battersea Power Station.
The debt facility secured from a syndicate of Middle Eastern and Asian banks is one the biggest real estate financing agreements in recent years. The funding comprised a £750m facility to develop the power station building and £600m to fund the development of London's "newest high street", Electric Boulevard.
Baker & Mckenzie advised the banking syndicate together with Singapore-based member firm Wong & Leow.
The lenders' team was led by Bakers' London based real estate partners Justin Salkeld and Stephen Turner. European head of energy, mining and infrastructure Mike Webster also worked on the deal, alongside Singapore based finance principal Emmanuel Hadjidakis.
Norton Rose Fullbright acted for the borrowers, fielding a team including London-based partners Dan Kennedy and Dan Wagerfield who advised on the finance and property aspects of the deal respectively.
Earlier this year, Bakers was instructed on the sale of London's landmark Gherkin building after it fell into receivership in April. The sale has attracted a high level of interest from Asia and is expected to elicit bids of around £650m.
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