Shepherd and Wedderburn reports strong deal activity
Fiona Buchanan: we have operated seamlessly during restrictions
Shepherd and Wedderburn’s banking and finance team has reported a busy 12 months, supporting clients with a mix of strong deal volumes and advisory work.
In the 12 months to 31 October, the team advised clients, including banks, funds, financial institutions, alternative lenders, public bodies, corporate borrowers and sponsors, on deals with a total value of more than £40 billion.
Fiona Buchanan, head of banking and finance, said: “We saw an immediate shift during the initial lockdown towards advising both lenders and corporate borrowers in relation to government-backed schemes… as well as conventional restructuring of debt packages.
“Beyond that, our clients have also remained active in the clean energy, healthcare, technology, retail, real estate and financial sectors.”
Deals on which the firm advised included financing of the Neart Na Gaoithe offshore wind farm; Big Blu Broadband on the sale of its European broadband business; and Hunter Boot’s equity and debt restructuring.
Looking ahead, Ms Buchanan said her team’s key objective is to assist clients in navigating a shifting landscape due to the economic impact of the COVID-19 pandemic and ongoing uncertainty around the terms of the UK’s departure from the EU.
“We have continued to operate seamlessly during lockdown restrictions and we continue to collaborate with clients on a number of pathfinder technology-assisted legal projects,” she said.
“While we expect the prevalence of debt restructuring to continue into the new year, we have also seen a steady increase in conventional funding activity for businesses well positioned to navigate a path through the pandemic.
“Improved market confidence over the summer led to an increase in debt capital markets deals coming to market, which we also hope will be a continuing trend into 2021.
“A post-COVID-19 environment is unlikely to involve any less regulation and, in an increasingly complex financial regulatory environment, we continue to grow our financial products and services advisory practice.”