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International Edition

Wary LBO lawyers wonder if banks can revive market

Is that light at the end of the tunnel or just another false dawn? Leveraged finance teams certainly hope the latest attempts to unblock the leveraged finance market, as institutions such as Citi and Deutsche Bank put together deals to sell off their leveraged loans portfolio, will start to get things moving.But acquisition finance counsel, probably the City lawyers hardest hit by the prolonged turmoil in credit markets, are feeling too edgy to get hopeful just yet. After all, hopes of a revival emerged in October as debt was moved on two flagship deals - First Data and Alliance Boots N and credit spreads began to narrow. But it was not long before gloomy US economic news and a string of fresh bank writedowns took their toll, largely closing the market for £500m-plus mandates.
5 minute read

International Edition

Bank of England turns to Freshfields as it eases crunch with £50bn debt scheme

Freshfields Bruckhaus Deringer has underlined its close links with the Bank of England after taking lead advisory duties on the bank's £50bn liquidity support programme. Freshfields is advising the longstanding client on its plan to swap secured Government bonds for premium mortgage debts held by commercial banks in a bid to restore liquidity to the inter-bank debt markets.
2 minute read

International Edition

Mexican mining company calls on Freshfields and Links for London Stock Exchange debut

Freshfields Bruckhaus Deringer and Linklaters have won roles on the planned London Stock Exchange float of silver producer Fresnillo. The initial public offering (IPO), which will make Fresnillo the first Mexican company to list on London's main market, follows a slow period for UK listings.
2 minute read

International Edition

Latham wades in to Deutsche Telekom's defence in shareholder 'class action' suit

Latham & Watkins and specialist German firm TILP are among more than 900 firms advising on a landmark legal case against Deutsche Telekom, which reached court earlier this month (7 April). The closely-watched case, which began in 2001 and is the first test case for Germany's newly-introduced group action rules, sees 17,000 shareholders suing Deutsche Telekom for a reported E80m (£63m).
2 minute read

International Edition

Dealmaker: Frances Murphy

Slaughter and May's new head of corporate Frances Murphy on eureka moments, clay pigeon shooting and not being fluffy
4 minute read

International Edition

Expro takeover gifts Freshfields, CC and S&C £1.6bn trophy roles

Clifford Chance (CC), Sullivan & Cromwell and Freshfields Bruckhaus Deringer have landed roles on one of the largest private equity deals to take place this year - the £1.6bn acquisition of Expro International by a Candover-led consortium.CC has the lead role for longstanding client Candover, with the magic circle law firm's team headed by London corporate partners Adam Signy and Kem Ihenacho.
2 minute read

International Edition

BLP secures top role opposite A&O on E1bn property investment mandate

Berwin Leighton Paisner (BLP) has secured a role advising fund management and property development group Letterstone on a €1bn (£808m) property investment venture with Starr International.Corporate partner Tim Simmonds headed the team advising the London-based fund manager on the deal.
2 minute read

International Edition

Ashurst, Links cook up £950m Enodis buy-out

Ashurst and Linklaters have won lead roles on the £950m takeover of UK kitchen equipment maker Enodis by US company Manitowoc.Ashurst is advising longstanding client Enodis, with City corporate partners Richard Gubbins and Anthony Clare leading the team, supported by competition partner Julian Ellison and employment partner Paul Randall.
2 minute read

International Edition

Linklaters leads on RBS' record £12bn rights issue

Linklaters has secured a trophy mandate acting on the record £12bn rights issue by the Royal Bank of Scotland (RBS) - the largest of its kind to date. Linklaters is advising the bank - the UK's second-largest lender and a long-term client of the magic circle firm - on the issue, announced yesterday (22 April), which comes with RBS set to announce write-downs of £5.9bn in sub-prime-related assets.
2 minute read

International Edition

Freshfields to the fore on Bank of England's £50bn cash injection

Freshfields Bruckhaus Deringer has underlined its close links with the Bank of England after taking lead advisory duties on the bank's £50bn liquidity support programme for the UK lending market. Freshfields is advising the longstanding client on its plan to swap secured Government bonds for premium mortgage debts held by commercial banks in a bid to ease the effects of the global credit crisis.
2 minute read

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