We have an expert team of banking and finance specialists who have an in-depth knowledge of the sectors and markets they work in. We act for a wide range of clients including large and small corporate entities, charities, housing associations, local authorities, NHS Trusts, property developers, funders and private investors.
Our clients benefit from an expert legal team that provides innovative and practical strategic advice to raise or provide funding through a variety of different sources and for different purposes.
Comprehensive range of services
We are able to offer a full range of banking & finance related services:
- Negotiating loan agreements and any related security or inter-creditor documentation
- Capital markets advice, including bonds and private placements
- Social and affordable housing finance
- Charging properties for security
- Real estate finance, both for development and investment portfolios
- Project Finance, including PFI/PPP
- Corporate finance, including acquisition finance
- Structured finance
- Asset backed finance
- Development finance, including for joint ventures
- Healthcare Finance
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Very detail focused and supportive with a strong view on communicating risks and opportunities to us as a client. Advice given considers the materiality of risks and their outcomes which is especially useful for making judgement calls. Overall breadth of experience of supporting similar transactions is very strong.
As one of the UK’s leading housing firms, we have excellent market knowledge and are uniquely placed to work in partnership with housing associations, local authorities, central government and the NHS. The housing sector continues to change and our Housing sector lawyers are at the vanguard, working in collaboration with colleagues and clients to help drive that growth and evolution and to access the funding necessary to support clients to achieve their goals.
Our Corporate team advise a wide variety of clients in many different markets on the full life cycle of any business and how the funding is structured and achieved is integral to the success of any business project. Combining our corporate and finance skills and working collaboratively means we can deliver the advice you need for your company to thrive.
Whether acting for a corporate borrower to raise development finance for residential or commercial properties or for a lender to provide secured mortgages, our highly skilled Secured Lending team use their market insight and experience to provide the appropriate level of support to deliver an exceptional service to our real estate clients.
Bevan Brittan have unrivalled experience advising councils nationwide over many years of regulatory change including both raising finance, investment in energy and property schemes and acting as lender to other authorities, housing vehicles, registered providers and charities. Over recent years, councils have broadened their horizons for raising finance outside the Public Works Loan Board. We have worked with several local authorities and advisers involved in pathfinder private placements and public bonds for local councils. As a result, we have helped to pave the way for other councils to follow, opening the door to valuable alternative and good value sources of finance for local authorities.
Creating Brio Retirement Living
Over the last decade Bevan Brittan have worked with Places for People (PfP) on the procurement, structuring, development and delivery of more than a dozen social housing and extra-care retirement housing projects as part of their ambitious development targets.
One such project involved the negotiation of an innovative partnering arrangement with Octopus Healthcare which came together with PfP to form Brio Retirement Living. The aim of Brio was the delivery of retirement community projects in a collaborative manner. Advice on the joint venture included creating a multi-faceted structure of companies to deliver value for both partners as well as negotiating a £190m senior finance facility. Since establishing Brio, we have been involved in the delivery of several projects including in Stow-on-the-Wold and Chapleton. We have also advised PfP on the transfer of projects into the group and the restructuring of elements to drive value for PfP under the Brio structure.
Restructuring and Refinancing
Working in partnership with Together Housing Association we have provided strategic legal advice on a large variety of different finance and charging transactions. We supported Together Housing Association on the collapse of its group structure and rationalisation of its charged properties from many group companies into a nominated stock holding company. This involved detailed advice around the existing LSVT warranties and setting up a new security trust deed. We subsequently advised on the refinancing and re-negotiation of its £410m loan portfolio to reflect new and improved terms and ensure the alignment of covenants, as well as undertaking a significant restructure of its derivative agreements to create ‘stand alone’ instruments. The work has included charging over 12,000 ex-LSVT properties to support their £200m bond issue and subsequent tap, as well as enabling valuation uplifts of this stock to MV-STT values.
Bevan Brittan have provided Together Housing Group with legal services on various transactions which has helped the Group achieve a number of great results within timescales
Debut private placement
Our finance team provided legal advice to the London Borough of Brent in a highly successful debut private placement that has raised £80m for the Council. The funds will be utilised by the Council to finance part of its capital investment programme aimed at regenerating the Borough. Due to strong investor demand, the transaction size was oversubscribed allowing the Council to double its initial proposed offering of £40m to a sum of £80m, demonstrating a robust endorsement of the sector and the Council’s prudent financial management. The Council achieved credit spreads over 60-80bps tighter than the margins offered by the Public Works Loan Board (PWLB), resulting in significant cost savings.
Public Bond Issuance
We advised the London Borough of Redbridge Council on all aspects relating to the issuance of its first public bond enabling it to raise £75m of debt which is RPI linked and has a deferred structure. We advised the Council on its authority to seek funds in the capital market and its offering circular as well as negotiating the terms of the bond documentation with Traderisk on behalf of the Council and the Investor Counsel.
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