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Banking & Finance

United Kingdom

The evolution of the lending and debt markets since the start of the financial crisis has left participants facing regulatory change, greater competition in the supply of debt funding, financial distress and a flight to sector specialist advice. Our banking and finance practice can help you navigate these challenges, with expertise in the full spectrum of banking and finance law. Whether you are a lender, borrower, sponsor, insolvency practitioner or debt advisor, our priority is resolving your challenges and putting your world first.

Today’s banking and finance transactions require expertise across a wide range of sectors. CMS is a top 10 global law firm with a strong sector focus. Our driver is to provide clients with pragmatic advice delivered by a multi disciplinary team. With 65 offices globally, we provide sector expertise to support clients' finance requirements and are recognised for providing clear commercial advice and getting the deal done for our clients.

Our clients range from domestic and major global corporates, funds and other financial institutions and advisors across the UK, Europe, the Middle East, Brazil, Mexico and Asia.

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"They are very commercial, cut to the chase and identify key issues - they are absolutely excellent."

Chambers, 2020

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    Asset Based Financing

    Our asset-based financing teams focus on receivables and inventory finance and structured trade finance, with a particular emphasis on oil and gas related financings. The blend of skills and the breadth of experience of our partners, coupled with our extensive European coverage through the CMS network, enable us to provide a cost-effective yet highly specialised service to our clients. We thrive on complex multi-jurisdictional transactions.

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    Asset Finance

    As a bank, owner, export credit agency, lessee, lessor, operator or portfolio manager, you face many challenges in financing assets. These challenges could include increased regulation impacting on funding availability, financial distress caused by global economic conditions and asset-specific considerations such as tax and government licensing.

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    Capital Markets & Derivatives

    The financial crisis and its aftermath have had a considerable impact on the financial markets. Our dedicated Capital Markets and Derivatives team offers a wide range of transactional and advisory services for all aspects of capital markets, derivatives, structured products and structured finance transactions.

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    Corporate Lending & Leveraged Finance

    As a lender or borrower, the increasing regulation of debt markets, combined with increasing sources of funding, poses challenges for your business. Lenders want to remain competitive without sacrificing contractual protections, while borrowers want to achieve the optimum balance of contractual flexibility and competitive pricing.

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    Energy Finance

    As a participant in the energy sector, you will need to ensure that financing arrangements are compatible with unique regulatory, cross-jurisdictional and commercial issues. We have been involved as advisers in the energy markets since market inception, and through our experience of working with funders, developers, utilities, operators and other stakeholders in the relevant industries, we can help you create corporate and financing structures that can withstand the test of time.

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    Finance Disputes

    Our Finance Disputes team at CMS consists of litigation and international arbitration specialists within our 20-Partner market leading Financial Services & Regulatory team operating out of offices in London, Bristol and Scotland.

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    Financial Institutions Lending

    In utilising debt finance, financial institutions face regulatory and administrative constraints that can make it difficult to align the interests of lenders, borrowers and other interested parties. Our Financial Institutions Lending team acts for banks, alternative lenders, insurers, brokers, private equity houses, fund managers and pension funds to implement funding structures that fit in with their business goals.

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    Hotel Finance

    Hotel financing poses unique challenges, potentially combining development, real estate investment, acquisition, portfolio and cashflow-based financing. Our hotel finance team acts for lenders, developers, owners and operators across each of these fields, and helps them meet these challenges and ensure that their financing arrangements complement wider commercial agreements without compromising lender protections.

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    InfraTech Finance

    The CMS InfraTech Finance team combines our considerable expertise in project and structured finance with a market-leading Telecoms team, with decades of knowledge of the Communications sector.  This means that we can not only guide investors and infrastructure providers on issues that you currently face, but also pre-empt and suggest solutions to what may be coming around the corner. 

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    Islamic Finance

    Newcomers to Islamic Finance and existing participants alike face a whole host of challenges that they must successfully navigate to structure, document and complete transactions in accordance with Shariah principles. These challenges include appropriately allocating legal, commercial and Shariah risks between parties and ensuring that transactions, products and services which purport to be Shariah compliant do not breach any Shariah prohibitions.

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    Real Estate Finance

    The real estate finance market has undergone significant change in recent years, with increased regulation, the entrance of more categories of lenders and changes to documentation. At CMS, we understand the challenges that these changes pose for you, having acted for for lenders, developers, borrowers, sponsors, hedge counterparties and others on a wide range of investment and development transactions.

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    Restructuring & Insolvency

    Our dedicated team of restructuring and insolvency lawyers in England and Scotland advises all types of stakeholders involved in, or impacted by, financial restructuring and corporate insolvency situations.

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    Trade, Export & Commodity Finance

    At CMS we combine our sector expertise across fields such as energy and utilities, natural resources and agribusiness, with a wealth of experience in the full range of financing products offered to traders, exporters and producers.

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    High­lights of our ex­per­i­ence in Bank­ing & Fin­ance in the UK
    A ma­jor E&P com­pany on its ne­go­ti­ations with its main stake­hold­ers and reg­u­lat­ors (DECC and OGA) in seek­ing a solvent re­struc­tur­ing of its debt of circa USD 1.4bn.Ex­cep­tion­al In­nov­a­tion Tech­no­logy on the se­cured cross­bor­der debt fin­an­cing of its ac­quis­i­tion of the Quad­riga guest ser­vices group. The ad­vice in­volved CMS in the Neth­er­lands, Ger­many, Switzer­land, Italy, Spain, Po­land and Bel­gi­um.Bumi Ar­mada Ber­had on the USD 1.2bn syn­dic­ated FPSO pro­ject fin­an­cing, con­sist­ing of a term loan, standby let­ter of cred­it and bank guar­an­tee to fin­ance the con­ver­sion and op­er­a­tion of the FPSO Ar­mada Olombendo.A sub­si­di­ary of Mit­subishi UFJ Leas­ing on a joint ven­ture to ac­quire leased air­craft and on the sub­sequent ac­quis­i­tion of 6 air­craft.Aareal Bank AG on its fin­an­cing of a port­fo­lio of ho­tels across Ger­many, France, Spain, Lux­em­bourg and Switzer­land.Lloyds Bank and Wells Fargo on the GBP 133m loan to Lone Star to de­vel­op the Two Fifty One South­wark Bridge Road scheme, a 41-storey res­id­en­tial tower and six-storey of­fice build­ing in Lon­don.A US Fund on the the ac­quis­i­tion of the EUR 875m port­fo­lio of non­per­form­ing loans from a UK Build­ing So­ci­ety, backed by Ger­man real es­tate se­cur­ity with bor­row­er con­nec­tions in 12 dif­fer­ent jur­is­dic­tions.Ab­nor­mal Load En­gin­eer­ing in con­nec­tion with their EUR 210m mul­ti­c­ur­rency re­volving cred­it and bond­ing fa­cil­ity, provided by a syn­dic­ate of UK banks and guar­an­teed by cer­tain over­seas sub­si­di­ar­ies.OSX Brasil SA on the re­struc­tur­ing of all as­pects of its Bra­sili­an off­shore mar­ine busi­ness, deal­ing with its state bank and in­ter­na­tion­al cred­it­ors in re­spect of its c. USD 2bn of pro­ject fin­an­cings, amend­ing and ter­min­at­ing com­mer­cial con­tracts and ad­vising on dis­putes and set­tle­ments res­ult­ing from the fin­an­cial dif­fi­culties of its main cli­ent, OGX, and group bank­ruptcy pro­tec­tion pro­ceed­ings. Na­tion­al Aus­tralia Bank on the sale of GBP 700m UK real es­tate port­fo­lio.Please down­load the print ver­sion be­low.
    Law-Now: Bank­ing
    Go to the Law-Now web­site
    June 2018
    CMS in­tro­duces Private Place­ments on­line Ques­tion­naire
    Private place­ments are in­creas­ingly be­ing used for debt fund­ing as an al­tern­at­ive to bank fin­an­cingFind the right one for you!The mar­ket of­fers a large num­ber of Private Place­ment (PP) products with many dif­fer­ent fea­tures, for ex­ample Schuld­schein­dar­le­hen, Euro PP, US PP, syn­dic­ated loans etc. Stay­ing on top of all this is al­ways a chal­lenge and one could quickly lose track. Thus, how should you choose the product which is most suit­able for you?Use the CMS PP-Tool!  10 Ques­tions - 1 An­swer - 1 Re­com­mend­a­tionPlease start the ques­tion­naire >Our tool provides you with a quick over­view of the dif­fer­ent fea­tures of some private place­ment op­tions offered in the mar­ket, not only in case of emer­gency!


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    24 July 2020
    CMS RE­ITs
    We are the No.1 RE­ITs firm.  CMS RE­IT spe­cial­ists have de­signed most of the ground­break­ing RE­IT struc­tures and ad­vise al­most half of the premi­um lis­ted RE­ITs. Read more here.
    17 April 2020
    CMS Ex­pert Guide to coronavir­us re­lated loan morator­i­ums
    This guide con­tains a brief but com­pre­hens­ive over­view of cred­it morator­i­ums for 30 coun­tries world­wide, col­lated with a view to help­ing our cli­ents nav­ig­ate through the vari­ous gov­ern­ment re­sponses, and which will be up­dated on a reg­u­lar basis.
    07 August 2020
    Oil & Gas / Ship­ping – Com­mer­cial Court Ex­am­ines Leg­al Ef­fect of “Sub­ject...
    In the con­text of a crude oil voy­age charter, the Com­mer­cial Court has provided guid­ance on the leg­al ef­fect of “sub­ject to” pro­vi­sions in con­tracts.  In do­ing so, the Com­mer­cial Court noted that,...
    1 June 2020
    Coronavir­us and safe­guard­ing cus­tom­er­s' funds: pro­posed guid­ance for pay­ment...
    The FCA has launched a con­sulta­tion on ad­di­tion­al guid­ance for pay­ments in­sti­tu­tions and e-money in­sti­tu­tions, to strengthen the way in which they look after cus­tom­ers’ money. Sam Robin­son, James Dick­ie and Yas­min Jo­hal, writ­ing in Thom­son Re­u­ters, ex­plor
    26 March 2020
    CMS Ex­pert Guide to sta­bil­isa­tion and re­struc­tur­ing ini­ti­at­ive
    07 August 2020
    En­force­ment of cred­it fa­cil­it­ies: the value of pro­cess agents
    In a re­cent de­cision, the Eng­lish High Court has re­it­er­ated the value of ap­point­ing pro­cess agents in cred­it fa­cil­it­ies in cir­cum­stances where the bor­row­er and/or guar­ant­ors are based out­side Eng­land....
    20 May 2020
    FCA ac­cel­er­ates di­git­al sand­box pi­lot to sup­port firms amidst the COV­ID-19...
    The FCA has set out its pro­pos­al to ac­cel­er­ate the di­git­al sand­box pi­lot to sup­port in­nov­at­ive firms amidst the Cov­id-19 Pan­dem­ic. In an art­icle ori­gin­ally pub­lished in the Thom­son Re­u­ters, Sam Robin­son, Susann Altkem­per and Yas­min Jo­hal ex­plain the di­git
    17 February 2020
    CMS Ex­pert Guide to air­craft fin­ance and leas­ing
    Are you look­ing for leg­al in­form­a­tion on air­craft fin­ance and leas­ing? This CMS Ex­pert Guide provides you with everything you need to know.
    29 July 2020
    Vul­ner­able cus­tom­ers and FinTech - life after Cov­id-19
    Al­most two years ago as the Treas­ury Com­mit­tee heard evid­ence in the Con­sumers’ Ac­cess to Fin­an­cial Ser­vices en­quiry, some sur­prise was ex­pressed at the pro­jec­ted levels of po­ten­tial vul­ner­ab­il­ity in...
    4 May 2020
    CMS adds key hire to As­set Fin­ance team and bol­sters Air­craft Fin­ance and...
    In­ter­na­tion­al law firm CMS is pleased to an­nounce the ap­point­ment of Gwen Ed­wards as a part­ner in the firm’s As­set Fin­ance team. Gwen joins CMS from Hogan Lov­ells, where she was a seni­or as­so­ci­ate in the Fin­ance group.
    26 April 2019
    CMS Ex­pert Guide to STO reg­u­la­tion and law
    Are you look­ing for in­form­a­tion on STO reg­u­la­tion and law? This CMS Ex­pert Guide provides you with everything you need to know.
    29 July 2020
    Vul­ner­able Cus­tom­ers and FinTech – life after Cov­id-19
    Al­most two years ago as the Treas­ury Com­mit­tee heard evid­ence in the Con­sumers’ Ac­cess to Fin­an­cial Ser­vices en­quiry, some sur­prise was ex­pressed at the pro­jec­ted levels of po­ten­tial vul­ner­ab­il­ity in...