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Marcel Buys | Senior Associate | Banking & Finance | South Africa

Marcel Buys

Senior Associate

CMS RM Partners
85 Grayston Drive
5th Floor
Sandton
2196
Johannesburg
South Africa
Languages English, Afrikaans, German
Banking & Finance

Marcel is a specialist banking and finance lawyer.

Marcel  focuses on real-estate financing, leverage financing and debt restructurings.

His thorough cross-border lending experience and knowledge in Africa, Australia and the Middle East makes market-leading banks feel assured on high-profile cross-border leveraged transactions that involve composite security structures. Marcel has also acted for borrowers and lenders on (secured and unsecured) corporate lending transactions. 

Marcel's work covers a wide variety of sectors including financial institutions, insurance, construction, food products, telecommunications, Small - Medium Enterprises lending, retail and mining. 

He also manages the practice's banking and finance knowledge precedent system.

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Marcel makes complex and challenging multiple jurisdictional cross-border transactions feel effortless and well ordered

Senior Analyst | One of the largest banks in South Africa

His solution-driven thinking never leaves us feeling stuck

Legal Advisor | One of the largest banks in South Africa

Relevant experience

  • A telecommunications company - on debt and preference share fund from Nedbank Limited (acting through its Nedbank Corporate and Investment Banking division) and Depfin Investments Proprietary Limited (Nedbank’s preference share investment vehicle) as well as new debt and preference share funding from Investec Asset Management Proprietary Limited, and Futuregrowth Asset Management Proprietary Limited. The total debt and preference share funding was approximately ZAR 2.6 billion
  • An investment company - in relation to the funding provided by the corporate and investment banking divisions of one of the South African major banks, to settle and refinance existing indebtedness to that bank as well as the equity upside payable to a consortium of banks in relation to participating preference shares held by those banks. This included advising on funding to be obtained from the Public Investment Corporation
  • A large, listed mining company - in connection with the refinancing by Nedbank Limited and Standard Bank of South Africa of the short term and bridge facilities in a total amount of ZAR 1.1 billion with provision made for an accordion increase for a further ZAR 500 million
  • Rand Merchant Bank - in bridge funding provided to a publicly listed company in the UK in anticipation of property investments in South-eastern Europe.  The total financing requirement was approximately €4.5 million
  • Rand Merchant Bank - as funder in the conversion of ZAR 4.7 billion of term debt to a major listed property fund (Fund) to senior notes issued under the Fund’s DMTN programme
  • Rand Merchant Bank - on three further conversions of debt to commercial paper for listed property vehicles with a value of ZAR 3 billion
  • Standard Bank of South Africa Limited and Rand Merchant Bank - as lenders to Rapfund Investments on refinancing and security issues in respect of term and revolving debt in the company valued at ZAR 400 million
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Education

  • 2014 – University of Pretoria, South Africa
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Memberships

  • Member of the Legal Practice Council, South Africa 
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Financial Restructuring & Insolvency

Marcel is a debt restructuring & insolvency lawyer.

He has has developed an extensive knowledge in restructuring and insolvency law acting for all major stakeholders including borrowers, directors/shareholders, sponsors, banks and other financial institutions, debt syndicates and bonds lenders in restructurings and refinancings in various industries including telecommunications, consumer products, agriculture, mining and construction.

He is often involved in complex matters such as: where the distressed entity is a listed entity; advising on debt-equity conversions; advising on multi-layered debt restructuring; advising on set-off and security rights and cross-border aspects. As a result, Marcel has been a part of the most seminal distressed debt investing, restructurings, special situations lending and business rescue cases in South African over the last five years.

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Marcel’s technical competency in lending and his extensive knowledge of South African security law allows him to find creative and sound solutions to complex problems

Head of restructuring and distressed lending | One of the largest banks in South Africa

His ability to design thoughtful structures in highly distressed environments is commendable for such a young attorney

Legal Adviser | One of South Africa’s largest mining companies

Relevant experience

  • One of the big four local banks - in relation to the restructuring of their debt in a major supplier of equipment for construction, earth-moving and mining and quarrying and its related group companies in Africa and Australia. The transaction involved restructuring, facilitating, taking new security and recording existing facilities
  • The corporate and investment banking division of one of the major South African banks - in relation to its exposure to South African Airways Soc Limited (SAA), especially in light of any standstill arrangements with other creditors of SAA
  • Absa Bank Limited, FirstRand Bank Limited, Investec Bank Limited, Nedbank Limited and The Standard Bank of South Africa Limited - in relation to the restructuring of their debt in a leading South African listed construction corporate and its related group companies in Africa with a value of ZAR 1.8 billion.  The transaction involved restructuring facilities, taking new security, advising on the rights offer and bond redemption process
  • Absa Bank Limited, HSBC, Rand Merchant Bank, Standard Bank of South Africa and Lombard Insurance - on restructuring of direct and contingent exposure to a listed construction company
  • Four South African financial institutions - on distressed loan funding for a large South Africa multinational construction company listed on the Johannesburg Stock Exchange, in the form of a secured bridge term loan facility. The bridge facility was funded by one of the major South African banks with the other financial institutions participating by way of unfunded guarantee sub-participations. The amount funded exceed ZAR 690 million and was provided in three tranches. The security package secured both the existing facilities and the new bridging loan through a security SPV structure and included cross-border security from Mozambique, Zambia, Swaziland, Mauritius as well as the United Arab Emirates
  • One of South Africa’s largest mobile network operators - in relation to its restructuring of its debt and recapitalisation with ZAR 7 billion
  • One of Africa’s leading financial services group - led a multi-disciplinary team of banking, corporate, tax and regulatory lawyers in advising one of Africa’s leading financial services group in connection with the restructure of its investment management and insurance division following its divestment from a global banking group
  • A listed coal mining company - in connection with the refinancing of its short term and bridge facilities in a total amount of ZAR 1.1 billion with provision made for an accordion increase for a further ZAR 500 million. Our advice included the taking of a new security package including security over mining rights and other assets. Our advice assisted an acquisition-focused
  • One of the four big local banks and a local development finance institution - in relation to the reservation of their rights in respect of their debt in a municipal broadband installation project funding. The transaction involved advising the banks in relation to their rights on enforcement vis-à-vis the security package and funding agreement
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Education

  • 2014 – University of Pretoria, South Africa
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Memberships

  • Member of Legal Practice Council, South Africa
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