Biography
Andrew advises on a broad range of derivatives and structured finance transactions, including total return swaps (TRS) and repos, CLOs, significant risk transfer transactions (SRTs) and bespoke asset-backed financings, including leverage structures for private credit funds. He acts for sponsors and banks on the hedging aspects of infrastructure and leveraged finance transactions, including deal-contingent hedging, and also handles fund-level derivatives and credit default swaps (CDS).
Alongside his transactional practice, Andrew advises on regulatory matters including EMIR, SFTR and the EU and UK Securitisation Regulations.
Andrew is ranked as a leading lawyer for Derivatives and Structured Products in The Legal 500, with clients describing him as “very knowledgeable in the derivative space.” They also praise his “clear explanation of the products and the market positions,” saying he is “really great to have on our side.”
Representative experience includes acting for:
- A private fund on a TRS facility with a European bank to finance a portfolio of leveraged loans and bonds
- Apollo/Redding Ridge, Pemberton and RBC BlueBay on their European CLOs
- Various securitisation originators on the repo financing of their risk retention notes
- A private fund on a back-leverage financing in the form of an SPV-issued note and TRS with a European bank
- A number of private funds on their CDS positions in the context of corporate restructurings and liability management exercises (including Intrum, Altice and Ardagh)
- Teneo, as administrators of VTB Capital plc in connection with the workout of derivatives and repo positions
- Advent International and its portfolio companies on the hedging aspects of various acquisitions and financings, including the take-private of Cobham and InPost
- Bain Capital on hedging in connection with the financing of Valeo and Kantar
- CVC on deal-contingent hedging in connection with its acquisition of a stake in the French Football League
- Antin Infrastructure Partners on hedging for its acquisition of Pulsant and the refinancings of Solvtrans and Kellas Midstream
- iCON Infrastructure on hedging for its acquisition financing of Choice Care Group and Vanguard Healthcare Solutions
- A syndicate of hedge counterparties to APG Asset Management in connection with the financing of its acquisition of Brisa, Portugal’s largest toll-road operator
- Hudson Advisors on deal-contingent FX hedging in connection with the acquisition by Lone Star funds of MacDermid Graphics Solutions
- A global investment bank on its internal cross-border netting arrangements for securities settlements
- A syndicate of hedge counterparties in relation to a significant financing package for the construction of the A12/A15 Ressen-Oudbroeken (ViA15) public-private partnership project in the Netherlands
- BBGI Global Infrastructure on the implementation of an interest rate and FX hedging policy under its new platform financing
- Montagu on hedging for its financings of Maritime Intelligence, EPFR, ISI, Wireless Logic, DEAS and ITRS