Shepherd and Wedderburn banking and finance team reports strong 12-month deal activity

28 June 2023

Shepherd and Wedderburn banking and finance team reports strong 12-month deal activity

Despite the challenging economic environment, 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 30 April 2023, the team advised clients including banks, funds, financial institutions, alternative lenders, public bodies, corporate borrowers and sponsors, on over 140 deals with a total value of more than £125 billion.

Fiona Buchanan, Head of Banking and Finance at Shepherd and Wedderburn, said the positive deal volume illustrates the banking and finance team’s effectiveness in winning new mandates from new and existing clients.

“Despite the economic challenges, cost of living and higher interest rate environment, our clients have remained active in the clean energy, healthcare, technology, retail, real estate and financial sectors, reflecting the strength of the firm’s expertise in these sectors, which are of critical importance to the economy.”

During the year in review, the banking and finance team completed notable deals across a broad range of sectors, including acting for:

  • HSBC UK Bank plc on facilities provided to business water supplier Castle Water Limited;
  • Moray Offshore Windfarm (West) Limited in relation to various aspects of the £2 billion project financing of their 882MW offshore wind project;
  • Carbon Plantation Limited in relation to financing through crowdfunder Abundance Investments of a carbon-capturing tree plantation in Surrey;
  • Assured Guaranty on their wrap of a £210 million bond issue for Glasgow City Council.

In addition, the banking and finance team was named Transaction Team of the Year at the Law Awards of Scotland 2022 for the fifth consecutive year.

Looking ahead, Buchanan said her team’s main objective is to continue to assist clients in navigating the ever-shifting landscape.

“We have continued to invest in developing our team, with several new hires during the year, and in technology that enables us to better support our clients. Collaborating with clients on the full range of mandates, from bilateral bank facilities to large-scale infrastructure projects, whilst continually striving to innovate how we deliver excellent service, is key” she said.

“Looking ahead, with the green recovery a core part of many clients’ agendas, our experience advising on some of the UK’s largest clean energy projects to date sees us well placed to assist clients towards a more sustainable and resilient future. We are also ideally positioned to advise clients in relation to major changes in the law which were recently enacted in the Scottish Parliament, and which will make it easier for businesses to raise finance in Scotland.”

Shepherd and Wedderburn’s Banking and Finance Deals Review 2022/23 can be accessed here.