What We Do
Our corporate banking team works for both commercial lenders and borrowers on a wide range of lending transactions.
We regularly advise borrowers looking to raise working capital, refinance existing debt or fund capital expenditure. The team also works with numerous lenders in this sector, ensuring their risk is minimised by negotiating appropriate loan terms and ensuring the priority of their control over other creditors.
Our services include drafting, negotiating and advising on:
- Bilateral and syndicated/club loan agreements in relation a wide range of committed and uncommitted facilities, both domestic and cross-border
- Security arrangements in relation to corporate lending transactions, including debentures, legal charges, chattel mortgages, assignments of rights under contracts with third parties, guarantees from corporates and individuals, share charges and account charges
- Intercreditor arrangements, including deeds of priority and subordination and in relation to mezzanine debt
- Amendments, waivers, variations and consents under loan and security documents
- Early stages of transactions, drafting term sheets, advising on deal structures, identifying legal challenges at the outset and offering solutions/risk management strategies to enable deals to complete safely for lender, sponsor and borrower clients
- Bespoke documentation for lender clients
- The interpretation of provisions in existing loan and intercreditor documents, particularly in relation to actual and potential default scenarios or in connection with the rights of individual creditors
- The completion of standard form/lender template security documents, guarantees and ancillary documents
The team also offers project management services, overseeing the transaction process from start to finish, including confirming satisfaction with all conditions precedent.
Why Choose Irwin Mitchell?
We offer an experienced team that have relationships across the corporate banking sector.
Working for UK and overseas lenders borrowers and sponsors, our team specialises in negotiating agreements that protect our clients, whether ensuring a lender’s claim as a creditor gets precedence, or that a borrower doesn’t suffer from unduly restrictive obligations.
At the outset we will discuss the services you require and, wherever possible, we will offer fixed and capped fee options for both lender and borrower clients.
Recent Corporate Banking Work
- We advised Santander on the provision of £30m funding for the new Enterprise Ventures SME Loan Fund, which will provide growth funding for SMEs. Greater Manchester Pension Fund also provided £10m funding.
- We advised Lloyds Bank plc in relation to the provision of a £20m revolving credit facility to MJ Gleeson plc and in relation to MJ Gleeson’s scheme of arrangement and re-listing.
- We advised AES Engineering Limited (a member of the AESSEAL group) in connection with the refinancing of its £30m revolving credit facility with HSBC Bank plc. The deal had international aspects, AESSEAL having subsidiaries in North America and Ireland.
- We advised HSBC Bank plc in relation to the provision of £15m of revolving credit and term loan facilities to waste management group Augean. The increasing funding provided by the Bank to AIM-listed Augean plc will enable Augean to expand its services and capabilities targeted at the oil and gas industry, as well as the in the nuclear waste market.
"Very good knowledge across the ABL market"
Legal 500, 2016
"Recognised for its strength across the full spectrum of asset-based lending matters."
"Knowledgeable, friendly and approachable."
Legal 500, 2015
"We've been impressed with their quality, their speed and their fees."
“[Irwin Mitchell is] noted for its local bench strength and depth of resources”
Quoting a client: “[Dean Gormley] gave well-rounded advice and was very commercial and pragmatic in getting deals done without comprising my position”
"'Exceptionally experienced in the ABL sector', the practice handles sophisticated cross-border transactions."
Legal 500, 2014