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Leveraged Finance Associate

Shearman & Sterling LLP
Closing date
9 Aug 2021

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Team Summary

Shearman & Sterling's Leveraged Finance lawyers are leaders in the high yield and leveraged bank market. Noted for their in-depth understanding of the business and legal considerations involved in leveraged credit, our lawyers offer a combination of market experience and a broad range of capabilities in the capital markets and the syndicated lending marketplace. We represent commercial banks, investment banks, mezzanine and second-lien providers, private equity sponsors and corporate borrowers.

Our team includes lawyers from the global Capital Markets and global Finance teams based in New York, London, Paris, Frankfurt, Milan, Singapore, Hong Kong and Abu Dhabi, working in close collaboration with members of the Financial Restructuring & Insolvency and Project Development & Finance teams when needed.

Clients rely on us for sophisticated, market-recognized advice and deal management for acquisition and other leveraged financings across a wide range of industries, financial sectors and jurisdictions. We provide innovative and creative approaches that anticipate the requirements of all parties to complex, multi-jurisdictional transactions, including:

  • Providing comprehensive advice for concurrent leveraged bank finance and high yield deals to finance acquisitions and recapitalizations
  • Negotiating complex debt restructurings
  • Addressing all manner of intercreditor issues arising in senior secured, unsecured and subordinated financings and first-lien/second-lien, superpriority and cross-collateralized structures
  • Structuring acquisition financings involving both private equity and strategic buyers across multiple facilities, currencies and jurisdictions

Recent highlights:

Throughout the first half of 2021, the team advised on a number of cross-border and innovative mandates leveraging our global platform and the transatlantic expertise of our team.

A few highlights include:
  • March 2021- Lenders on the financing of TDR Capital and I Squared Capital's £2.3 billion public-to-private acquisition of Aggreko
  • April 2021 - Lenders on the financing of Apax Funds' $1.8 billion acquisition of Rodenstock Group
  • April 2021 - Lenders on the financing of TDR Capital's £563 million public-to-private acquisition of Arrow Global
  • May 2021 - Lead arrangers on SYNLAB's €1.2 billion financing
  • May 2021 - Initial purchasers on Consolis Group S.A.S.'s €300 million notes offering
  • May 2021 - Lenders on HIG Capital's acquisition of KPMG's UK restructuring business
  • June 2021 - Global Coordinator and Bookrunner on the £915 million (equivalent) financing of David Lloyd

Role Summary

We are looking for a Leveraged Finance Associate (2-6 PQE) to join our European Finance Group, based in London. The candidate will come from a leading banking practice in a top UK or US law firm with strong leveraged finance experience. Our Associates work in a collegiate environment, for a range of Partners, and can expect a good variety of work and clear career progression

Our practice group has a fantastic reputation working on large capital leveraged financings acting for creditors, corporate borrowers, mid-market PE borrowers, credit funds/hedge funds in special situations lending and the direct lending space.

Key Responsibilities:
  • Advising clients on a wide range of matters, with a particular focus on leveraged finance
  • Developing relationships with clients including gaining a good knowledge of the client's businesses, economic drivers, market and sector requirements in order to ensure advice is relevant and commercial
  • Engaging in business development activities and being active in the promotion of the firm and seeking opportunities for new work
  • Working as part of a team including assisting with the supervision of junior lawyers work, sharing knowledge and experience with the team
  • Assistance on commitment paper / competitive bid processes and satisfaction of interim conditions precedent including, for associates towards the more senior end of the PQE range, assistance with preparation of issue lists
  • Preparation / negotiation / review of key financing documents including (i) for associates towards the more senior end of the PQE range, facility agreements and intercreditor agreements and (ii) for associates towards the more junior end of the PQE range, security documents, fee letters, additional facility documentation, and reliance letters
  • For associates towards the more junior end of the PQE range, running / taking responsibility for conditions precedent workstreams, condition precedent checklists and condition precedent satisfaction letters, and managing local counsel teams / co-ordinating local counsel comments on main financing documents
  • Attendance on client calls (along with deal team) to discuss issues lists and bank queries
  • Preparation / negotiation of firm legal opinions and review of local counsel legal opinions
  • Supervising trainees and junior associates and preparing / running training sessions
  • Assisting with transaction management throughout a deal and coordinating execution and delivery of closing documents

Skills & Experience:
  • A qualified lawyer (2-6 PQE) with excellent academic credentials, working in the bank finance department of a leading City or US firm;
  • Evidence of a keen interest in leveraged finance, allied to strong technical knowledge;
  • Commerciality and demonstrable business development experience;
  • Excellent written communication and drafting skills;
  • Proactivity, reliability and composure with both clients and internal stakeholders, building strong relationships accordingly;
  • Ability to work well in both a team and individually;
  • Respect and integrity shown at all times in our diverse and welcoming firm.

We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age. Disability-related accommodations during the application process are available upon request.
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