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Credit and Special Situations

We deliver opportunistic, distressed and event-driven transactions effectively and with the minimum of fuss, no matter how they might change course

Our team of special situations lawyers advise the full spectrum of financial sponsors who provide private financing and other capital solutions spanning the debt and equity spectrum to companies that, for a variety of reasons, are unable to access more traditional sources of financing and investment. 

We draw upon the experience, knowhow and insight of market-leading individuals and teams across all key disciplines, sectors and geographies, having the shared goal of supporting financial sponsor clients who deploy capital in opportunistic, distressed and/or event-driven situations. 

Our sophisticated understanding of the markets in which our clients operate and the challenges they regularly face, together with our collaborative and client-focussed culture, enables us to deliver innovative structures for the deployment of capital in ways which protect against downside risk but maximise the opportunity for upside returns.

We regularly work with clients through the lifecycle of their investment to help unlock that upside potential (including the implementation of incentive arrangements, new governance structures and divestment strategies) and generate returns through refinancing transactions, disposals or consensual or non-consensual restructuring processes. 

Notable deals

Insights and Thought Leadership reports

Covid 19 Financing Fund Portfolio Investments Through the Crisis

Financial sponsors have been focussing significant time, efforts and resources supporting their portfolio investments through the COVID-19 crisis. This briefing note considers some of the options available to sponsors to provide cash injections into portfolio companies in need of funding, both in the short term and the longer term.

Read more Covid 19 Financing Fund Portfolio Investments Through the Crisis

Liquidity options under European cov-lite facilities

In covenant-lite transactions, the absence of ongoing financial maintenance covenants, which have traditionally operated as the trigger for a debt restructuring, means that it is the lack of sufficient liquidity which will instead be one of the more likely factors leading to the commencement of a restructuring process.

Read more Liquidity options under European cov-lite facilities

Debt buy-backs of European leveraged loans

The European leveraged loan market has, as a whole, been affected by the economic consequences of recent government decisions and central bank action. As a result, the trading price of several leveraged loan names has fallen, in some cases, significantly below par. 

Read more Debt buy-backs of European leveraged loans

Awards and Rankings

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