Banking & Finance Bulletin - Winter 2018

Welcome to the winter edition of our Banking & Finance bulletin.

The start of the calendar year can often bring with it renewed optimism and hope as market participants look to set new budgets to work. It’s often around this time of year when we learn about new transactions. It’s too early to predict which sectors will thrive in 2018, but with the pound relatively low, the UK remains an attractive proposition for M&A activity and with the UK Government keen to encourage more housebuilding and address the country’s low productivity levels, one can expect that there will be good opportunities in the property and infrastructure spaces. Do feel free to reach out to us if you would like to run any new opportunities past us – we always welcome the chance to be involved from the outset of a potential transaction.

In this bulletin we have selected a list of recent articles written by our Banking & Finance specialists which we expect will be of interest to you. We hope you enjoy reading these articles and would be delighted to hear from you on any points arising from them. Links to these articles can all be found below.

We have also included a short interview with Matthew Padian on debt funding for owner managers and entrepreneurs. 

Finally there’s a short piece of self-promotion – if you make it that far - boasting of our appointment shortly before Christmas to two new bank panels and a re-appointment to another. We are now a panel firm adviser for seven of the eleven UK clearing banks.

And if you like what you read, we have as previously produced a sister publication for our Restructuring & Insolvency clients. Click here to read more.

Contact our experts for further advice

Andrew Dodds, Jonathan Porteous
  1. Top 5 tips for loan investors in 2018

    According to her New Year message, the Prime Minister, Theresa May, expects Britons to feel renewed confidence and pride in 2018. You may have noticed that Mrs May’s expectations are not always realised, but hopefully banks and other debt investors... Read more
  2. Your opinion counts! The role of legal opinions on banking & finance transactions

    The City of London Law Society has recently published an updated guide on the questions and issues to be considered and addressed when law firms are providing legal opinions to lenders on banking & finance transactions (the CLLS Guide ).   What... Read more
  3. Knowing me, knowing yule...but do you really know your lender?

    With the festive season now in full swing, many (well, some) borrowers will be sending their season’s best wishes to their lenders. But how many corporate borrowers know their lenders? Most will likely think they do but the answer is not always... Read more
  4. UK Supreme Court rules that debts under letters of credit are located where the issuer resides

    The Supreme Court recently held that a debt under a letter of credit is situated where the issuing bank (as debtor) resides and not where the debt has to be paid. The relevant case is Taurus Petroleum Limited v State Oil Marketing Company of the Ministry... Read more
  5. The only way is up...what the Base Rate change means for corporate borrowers

    Last week the Bank of England increased its Base Rate from 0.25% to 0.50%. This is the first such rate change since 2007, reversing the 0.25% cut that was made last summer following the Brexit referendum result. For many the rate change comes as no... Read more
  6. Moving the loan goal posts: was a personal guarantee shown the red card?

    Most lenders require corporate borrowers to provide security for a loan to protect their position should that borrower default under their loan transaction.  Lenders want as much “security” as they can get on any given transaction which... Read more
  7. Keeping it in suspense - the use and limits of Suspense Accounts

    Matthew Padian, a Senior Associate in the Banking & Finance practice at Stevens & Bolton, has recently contributed an article to the Butterworths Journal of International Banking and Financial Law on the topic of suspense accounts. The right to open... Read more
  8. Panel success

    Shortly before Christmas, Stevens & Bolton’s Banking and Finance team secured appointment to three banking panels. We were appointed for the first time to the panel of preferred legal advisers to Allied Irish Bank as well as to the legal panel of a... Read more
  9. Interview with Matthew Padian for the Winter Edition of Banking & Finance Quarterly Bulletin

    In this edition we interview Matthew Padian, a Senior Associate in S&B’s Finance, Restructuring and Insolvency Group (or “FRI” for short).  Matthew advises lenders, borrowers and other stakeholders on a wide range of banking,... Read more

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