Finalists: Akin Gump; Allen & Overy (highly commended); Bracewell; Eversheds Sutherland; Morgan, Lewis & Bockius; Paul Hastings.

Milbank, Tweed, Hadley & McCloy secured the finance team of the year award for its various roles in buyout firm Baring Private Equity Asia's $4.3bn acquisition of Hong Kong-based international school operator Nord Anglia Education.

Milbank represented HSBC as administrative and collateral agent, and Deutsche Bank, Credit Suisse and Macquarie as lead banks on the deal's financing arrangements (which involved a series of multi-currency loans and revolving credit facilities backed by a collateral package spanning 19 jurisdictions across the Americas, Europe, Asia and the Middle East). Milbank's cross-border credentials were underscored by the fact the loan documents were governed by New York law but primarily syndicated in Europe, requiring seamless collaboration between lawyers and bankers on both sides of the Atlantic.

Meantime, the credit facilities were co-agented out of London and Hong Kong, calling for round-the-clock coverage. Milbank's expertise in such cross-border financings and global collateral packages meant the deal advanced from announcement to completion in just five months.

"While not the most headline-grabbing entry, this was the most truly transatlantic and finance-focused submission, involving well-coordinated lawyering across jurisdictions within a complex regulatory and financial framework," praised a judge.

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