Led from London by Jane Glancy and supported by lawyers based in key financial centres throughout the firm’s extensive international network, A&O Shearman‘s global loans team combines international legal insight with strategic expertise to assist investment-grade corporates and top banking clients. As well as regularly handling major refinancing and general corporate lending facilities, the team also regularly advises on the debt finance associated with many of the market’s biggest ticket public M&A transactions. Greg Brown, who led on this transaction, has also been at the vanguard of work in the sustainable financing space, helping to shape the use of the product which has become an increasingly commonplace feature of syndicated loan transactions. David Campbell is also very effective at advising on investment-grade financings, as well as excelling in advising on the financing for cross-over corporate credits, in both cases very effectively implementing new technology to streamline transactions. The ‘technically excellent’ Oleg Khomenko provides ‘practical and commercial’ advice to borrowers and lenders on general corporate lending and event-driven-financings, including in the context of emerging markets transactions. Dominique Crowley is also recommended. 

Leveraging a thorough understanding of current market trends and industry standards, Clifford Chance LLP demonstrates exceptional expertise in documentation nuances across various jurisdictions. This allows the firm to effectively share its knowledge with a well-balanced roster of banks and corporates engaged in debt financing for a myriad purposes, including for working capital, M&A, event-driven financing, and treasury operations. The team, which is led from London by David Robson, is also highly skilled at advising on multi-jurisdictional mandates where it can effectively leverage the firm’s vast international network, and can add value on complex financial services transactions through a collaborative approach alongside its market-leading regulatory offering. Robson and Emma Folds have very strong lender relationships, in particular, with both excelling in advising banking syndicates on refinancing and new money deals for large corporates. For borrower work, Nick Kinnersley regularly handles event-driven and public bid financing work for investment grade corporates, including his recent advice to Aviva plc on the £1.85bn financing provided by Citibank for its recommended public offer for Direct Line Insurance Group plc. Although Peter Dahlen and Matt Dunn are best-known for their lender side leveraged finance expertise, they both also handle some work for large corporate borrowers, with Dunn also advising on infrastructure financings.

Combining ‘technical skill and a strong understanding of the market’, Linklaters LLP provides ‘practical and commercial advice’ to investment-grade borrowers and lenders across a range of corporate and structured lending. Acting on its own as well as regularly alongside practitioners in other key global offices, the team excels in handling big-ticket and often highly structured cross-border transactions. Toby Grimstone has strong visibility among creditors and debtors, which are appreciative of his versatile offering, including on corporate lending, trade finance, and public M&A financing matters. Grimstone recently advised the underwriting banks on the bridge financing to help facilitate BAE Systems plc’s $5.55bn acquisition of Ball Aerospace from Ball Corporation. Ian Callaghan also has public M&A financing expertise, as well as a strong lender practice that leans heavily towards margin lending and fund financings. James Martin, who is praised for his ‘ability to get the point through in a succinct and simple way’, has a versatile offering for banks and corporates, including on deals with a Middle Eastern nexus – where clients also benefit from his insight into Islamic finance structures. ‘Technically excellent yet highly commercial’, Caroline Courtney excels in advising corporates and lenders on syndicated lending matters, including on event-driven transactions such as M&A and IPO-related financings. Of the more junior practitioners, Sam Mahboubian has excellent traction among banks and large corporates, advising them on a myriad of new money and distressed transactions, while senior associate Atish Shah continues to impress on crossover credit and investment grade financings. Oliver Edwards co-heads the corporate lending and structured finance offering alongside Grimstone. Peter Hayes joined in May 2025 from Paul Hastings LLP.

Adopting a fairly generalist ethos to financing work, Slaughter and May is very well suited to advising investment-grade corporates across the panoply of their ongoing finance needs, from recapitalisations and multicurrency revolving credit facilities through to event-driven financings. Matthew Tobin regularly handles large capital raising exercises for borrowers, both in the syndicated loan and bond markets, including those linked to sustainability/ESG targets. Caroline Phillips is also well-versed on sustainability financings, as well as advising public and private corporates (including sponsor-backed portfolio companies) across a myriad financing requirements utilising the bank and bond markets. Robert Byk has niche expertise within the oil and gas sector, and is also one of a number in the team with bid finance knowledge. Team head Ed Fife is also recommended for his work on large investment-grade syndicated deals, as well as more structured mandates for cross-over credits.

Ashurst delivers solutions-driven and ‘innovative structuring’ to banks and investment-grade borrowers across various lending activities. The team’s expertise spans syndicated loans used for general working capital, refinancing needs, and supporting M&A activity. Nicholas Moore ‘brings exactly what is needed to the table for his clients’, including banks and large corporate borrowers, the latter which he regularly advises in the context of sustainability-linked financings. Tim Rennie is also very knowledgeable on ESG-related matters – including at a product development stage for banks (drafting relevant precedents) – and as well as more general corporate lending advice, has also developed a very strong reputation advising banks as financial advisers in relation to public takeovers. Briony Holcombe co-heads the corporate lending team alongside Moore and Rennie, with a balanced lender and borrower practice that encompasses general corporate lending, strategic M&A and fund financing work. Darren Phelan also maintains a well-rounded practice, advising both lenders and borrowers while also supporting financial advisers on public M&A financings.

Leveraging its deep-rooted firmwide institutional ties with a high proportion of FTSE-listed corporates, Herbert Smith Freehills Kramer LLP is best-known for its borrower work. This includes advice across the full scope of their ongoing debt finance needs, including in the context of revolving credit facilities and strategic M&A, both of which often involve banking syndicates. Kristen Roberts, who oversees the firm’s well-received annual corporate debt and treasury report it produces in collaboration with the Association of Corporate Treasurers (ACT), has deep insight into market trends ensuring he is very well-placed to advise corporates on their debt and treasury needs, including identifying arbitrage opportunities. ‘Very strategic’ US-qualified partner Gabrielle Wong has a focus on advising corporates on New York-law governed financing terms, and is pivotal to the firm’s success advising on finance structures to borrowers in the music and royalty space. On the lender front, the team is best-known for its emerging markets work, particularly in the context of multi-sourced financings, as well as for banks funding reserve-based lending transactions in the oil and gas sector. William Breeze co-heads the team alongside Wong and Roberts.

Drawing upon a ‘good breadth of knowledge across the debt markets’, the ‘very hardworking’ team at Norton Rose Fulbright provides ‘pragmatic’ advice to a balanced roster of banks and large corporates, including on large cross-border syndicated corporate lending deals – where the firm can leverage resources throughout its vast international footprint. The team adds particular value advising on deals within core firmwide sector strengths, including oil and gas, an area that the ‘very user-friendly’ Neha Khosla is particularly skilled. Along with Alex Zekkos, Khosla is also very active advising on emerging markets transactions, many of which are structured utilising multi-sourced financings. The ‘responsive, proactive and solutions oriented’ James Dunnett excels in handling corporate lending mandates for creditors and debtors. Michael Black, who co-heads the team alongside Madhavi Gosavi, has a focus on secured lending transactions, including those implementing asset-based lending (ABL) structures.

Although it does handle some borrower matters, Addleshaw Goddard is best known for its creditor-side offering, which includes work for a myriad domestic and international banks. The scope of this is broad ranging but includes a considerable volume of financing work for general corporate purposes and for event-driven transactions, including on behalf of investment-grade borrowers. Steve Mackie heads up the relationship driven and cost-effective team that is particularly active in the mid-market and aided by strong regional capabilities. Sarah Stokes handles a considerable amount of new money and refinancing-related corporate lending work, and is a key member of the team that includes funds finance expert Zoe Connor.

Baker McKenzie advises creditors and debtors across a range of debt finance solutions, leveraging expertise in English and New York law to handle high-value syndicated lending and event-driven financings. Nick O’Grady has strong banking ties, regularly advising syndicates to structure complex international financing transactions, expertly integrating English law documents with New York style covenants. The team is also very skilled at handling emerging markets mandates, with Luka Lightfoot regularly taking the lead for both commercial banks and ECAs on the financing to facilitate Africa-based energy and infrastructure deals, in particular. Matthew Cox co-heads the team alongside O’Grady.

Led from London by Emma Howdle-Fuller and aided by a strong presence in key regional centres, including Manchester, the commercial lending team at Bryan Cave Leighton Paisner provides a relationship driven service to banks and corporates providing or receiving the funding for a myriad of ongoing and ad-hoc financing opportunities. Derek Hrydziuszko has vast experience in the market across a myriad new money and refinancing transactions, including for investment grade and sub-investment grade rated corporates, often involving multi-jurisdictional considerations. New York-qualified Shanan Dunstan is able to advise on transactions involving bank and high yield bond debt and also regularly acts for banks and borrowers on hybrid ABL/cash-flow structures.

Led from London by Patrick Donegan and also able to draw from resources in key regional and international locations, CMS is well-positioned to provide ‘sound advice’ at a cost-effective price point to a lender-focused client base that includes international and domestic banks. Drawing upon ‘a bottomless reservoir of knowledge and experience’ and a ‘strong read on the mid-market’, Tom Siggers excels in handling corporate lending work, including utilising bilateral and syndicated facilities for working capital purposes and for M&A purposes. Other key practitioners include Alex Patience, who regularly advises banking syndicates on investment-grade financings; Mark Moseling, who has niche healthcare finance expertise; and Charles Kerrigan, for fintech funding work.

Leveraging strong relationships with UK and international banks, Dentons is very effective at advising on domestic and cross-border syndicated financing mandates, including for investment-grade corporates, for general corporate and event-driven purposes. The ‘customer-oriented and pragmatic’ Simon Middleton has longstanding and loyal connections with Nordic lenders, including SEB and Danske Bank, both of which formed a banking syndicate alongside BNP Paribas to fund the recommended cash offer by Carlsberg UK Holdings for British soft drinks maker Britvic Plc, which Middleton recently led on. Catherine Astruc is also a very accomplished banking lawyer, including on corporate-led acquisition finance mandates, while at a more junior level Joe Byron Evans and James Ingham both continue to develop strong reputations advising financial institutions on syndicated lending transactions for banks as borrowers across Eastern Europe, Africa and the Middle East. Nick Hayday heads the team.

While Macfarlanes LLP is best-known for its private capital expertise in the leveraged finance market, it also has a fairly substantial borrower side offering in the corporate lending space, both for standalone corporations and sponsor-owned portfolio companies. Kirstie Hutchinson who is key to this work adds particular value to cross-over credits requiring bespoke security structures, many of which include complex inter-creditor arrangements. Hutchinson also regularly advises on the English law aspects associated with work for US-listed companies. Malcolm Hitching also handles some conventional debt finance work as well as having niche expertise on financings in the litigation and legal assets sector. Andrew Perkins heads up the overarching finance department and is best-known for his alternative credit leveraged finance expertise.

Under the guidance of Aymen Mahmoud, the ‘very practical and hands-on’ team at McDermott Will & Schulte has, in recent years, gained most traction for its work in the private credit space on mid to upper-mid-market leveraged finance transactions. The arrival in mid-2024 of John Burge and Christopher Kandel from Morrison Foerster has not only further enhanced this core strength but also afforded the firm more visibility among banks and borrowers in the syndicated loan market. Kandel, in particular, has ‘vast knowledge’ of different finance structures governed by both UK and US law, and consequently, over his many years’ in practice, has developed a trusted advisor role, particularly for stakeholders in the large-cap acquisition finance space.

Regularly working alongside the firm’s top-notch corporate practice, Skadden, Arps, Slate, Meagher & Flom (UK) LLP provides debt finance expertise on some big-ticket corporate-led M&A mandates. In this context, the firm is well-placed to provide sophisticated advice utilising debt throughout the capital structure, governed by both English and New York law. Team head Pete Coulton is key to much of this work and has also recently handled a number of borrower-side mandates in relation to multi-jurisdictional data centre financings.

With a strong grounding across both English and New York-law governed debt products, Davis Polk & Wardwell LLP handles a range of financing work for lenders and corporates, including investment-grade loans and investment-grade acquisition financings. Team head Nick Benham regularly undertakes large transatlantic broadly syndicated finance deals, and also excels in handling UK public bid financings. Aaron Ferner also excels in advising on investment-grade deals for public acquisitions, as well as being a trusted adviser to financial advisers on cash confirmations for UK public acquisitions. Luke McDougall is also a key part of the finance team, although his focus is primarily lender-side on sponsor-backed leveraged deals.

Ropes & Gray LLP excels in handling work for investment banks and multinational corporates seeking or providing funding for large-cap deals incorporating both UK and US-law governed financing techniques. The scope of this work is broad, including event-driven transactions implementing syndicated lending facilities, as well as refinancings and funding for working capital purposes. Although the firm is industry agnostic, it handles a considerable amount of work in the telecommunications space, including for Altice, one of the biggest issuers of bonds and loans in the European market. UK and US-qualified high-yield debt expert Michael Kazakevich is key to these transactions and heads up the team that also includes Alex Robb and Benoit Lavigne who are both very accomplished finance lawyers.

As well as its core focus on private equity sponsor-led leveraged finance deals, Simpson Thacher & Bartlett LLP also maintains a not insignificant corporate borrower financing practice which benefits from the firm’s extensive knowledge of debt products throughout the capital structure, both through the syndicated loans and high yield bond markets. Shahpur Kabraji is key to much of this work, including for sponsor-backed portfolio companies on large-scale refinancings, as well as some large-cap lending transactions for institutional investment-grade corporate clients of the firm. For lender work, Hadrien Servais who splits his time between the firm’s Brussels and London offices, provides ‘commercially driven and solutions-oriented’ advice to credit funds and investment banks on syndicated credit facilities and debt financing solutions spanning all market cycles. Nicholas Shaw heads the team.

Led by the highly experienced Ian Borman, Winston & Strawn LLP‘s nimble finance team excels in handling complex cross-border lending transactions, including in the emerging markets. Here it is able to leverage its deep expertise across a myriad debt products throughout the capital structure to support a well-balanced mix of borrowers and lenders. Daniela Cohen also handles some corporate lending work, although she is particularly adept at working alongside the New York office for lenders providing the funding to facilitate sports-related stadium projects.

The ‘experienced and solutions-oriented’ team at Bracewell (UK) LLP has a dedicated focus for lenders and borrowers on financings within the energy and natural resources sector. Team head Jason Fox regularly handles syndicated lending work in the context of his market-leading reserve-based lending offering. Olivia Caddy is also skilled at handling upstream oil and gas financings, particularly in Francophone African countries. Oliver Irwin is also a key member of the team advising lenders and borrowers on power and infrastructure projects, including those requiring multi-sourced financings.

With a strong presence in Bristol and London, Burges Salmon LLP‘s versatile banking and finance team has the strength-in-depth and product knowledge to handle a significant volume of mid to upper-mid market debt finance transactions for lenders and borrowers. Energy, real estate and transport-related transactions remain a strength, with Graham Soar and Rachael Ruane recently advising longstanding client, British multinational transport group FirstGroup plc, on the financing of two interconnected projects involving up to 1,000 electric buses, with a combined debt size exceeding £200m (one of which was documented as a green loan). Andrew Eaton heads the team.

As well as making a strong impact within the leveraged finance arena, Cravath, Swaine & Moore LLP‘s relatively newly formed English law finance offering has also picked up its fair share of mandates for banks in relation to corporate lending and event-driven syndicated lending transactions. Philip Stopford has been key to much of this workflow, often collaborating with the firm’s New York office for facilities marketed to US investors, including on some major repricings to take advantage of attractive market conditions. Korey Fevzi heads up the firm’s EMEA banking and credit team from London and has been instrumental to the firm’s immediate creditor-side success in the leveraged finance market.

Led from London by Nick Swiss and also often working closely with practitioners in key financial centres, both regionally and internationally, Eversheds Sutherland (International) LLP is well-placed to advise banks and corporates providing or receiving the financing to facilitate domestic and cross-border corporate financing needs. Chris Williams is key to much of this work, advising a number of listed corporates on their core loan and treasury requirements, as well as regularly handling syndicated lending work to facilitate event-driven M&A.

Led from London by Jons Lehmann, and drawing upon resources from key international financial centres including New York, Fried, Frank, Harris, Shriver & Jacobson LLP‘s ‘high-quality’ practice is well-positioned to advise a lender-focused client base on domestic and cross-border corporate lending and event-driven transactions. A ‘brilliant legal mind’, Neil Caddy is core to the firm’s success in the space and excels in providing ‘extremely strategic advice’, including in the context of back leverage financings and sustainability-linked loans.

Under the leadership of asset finance specialist Graeme McLellan, Greenberg Traurig, LLP‘s banking and finance team manages general syndicated lending and investment-grade borrower matters, with a strong focus on key firmwide sectors including real estate and transport. Luke Lado is an important member of the team in light of his versatile practice that includes work for banks, funds and corporates in new money and distressed situations, including in the context of investment grade and cross-over credit financings.

At tech enabled full-service law firm Keystone Law, Isaac Felberbaum and Robert Spedding are focused on advising financial institutions, in either a bilateral or syndicated arrangement, providing loans to supra-national trade entities, multilateral trade finance institutions and banks, particularly in emerging economies. Much of their recent work in this regard has taken place within Turkey, including unsecured syndicate loans to many leading banks in the country containing ESG/sustainability ratchet provisions.

Acting on its own as well as frequently working alongside New York-based colleagues to advise on the English law documented finance needs of US corporates, the small and flexible partner-led team at Arnold & Porter advises both banks and borrowers across a range of financing mandates, including for general corporate lending needs and event-driven financings. Team head Marc Isaacs is key to this work and, as well as regularly supporting institutional corporates on their UK law finance needs, also has niche lender-side sports finance expertise.

The ‘exceptional’ team at McGuireWoods London LLP provides a ‘fantastic service’ to US-based lenders, including on bilateral and syndicated deals, to facilitate a range of transatlantic work involving multinationals and UK-based corporates. Drawing upon vast experience in private practice and in-house at a UK bank, ‘very approachable and knowledgeable’ team head Alan Holliday is key to this work, often working closely with the firm’s Charlotte office on deals for core client Bank of America.

Led by the ‘very experienced and practical’ Paul Denham, the ‘first-rate’ team at Morgan, Lewis & Bockius UK LLP is particularly effective advising a borrower-focused client base, including sponsor-backed portfolio companies, on cross-border new money and refinancing structures. Much of this work includes close collaboration with lawyers from across the firm’s international network of offices, including on emerging markets transactions involving multi-sourced financings within the Middle-East and Africa.

Under the expert guidance of the ‘calm and measured’ Chuks Ibechukwu, the London office of Nigeria-based full-service firm Olaniwun Ajayi (UK) LLP has established itself as a market leader for handling the English law aspects of Africa-based finance transactions for both lenders and borrowers. The scope of this work is broad-ranging and includes financings utilising both commercial and development finance-backed funding for project and debt finance transactions, particularly in the energy sector. Juanita Derex-Briggs is instrumental in contributing to the firm's success on the sponsor front, including on bilateral and syndicated transactions.

Working in an integrated fashion alongside the firm’s corporate team and also regularly representing clients on a standalone basis, RPC‘s banking team handles a range of work, including for working capital purposes and strategic M&A, for a borrower-focused client base. Team head Sukh Ahark and Edward Colville are the principal contacts, with both regularly advising on financings for clients within core areas of sector focus, including retail and insurance.

With a strong presence in London and key regional hubs, alongside extensive international capabilities, Squire Patton Boggs is well-positioned to provide strategic guidance to a diverse mix of corporates and lenders across corporate lending and event-driven financings. The financial services team, which is led by Paula Laird, is adept at structuring transactions with debt throughout the capital structure, including in the context of more niche financing products such as asset based lending. Ian Yeo, who has a strong focus on energy-related corporate lending and emerging markets-associated acquisition finance mandates, is also recommended.

Stephenson Harwood is best-known for its borrower expertise, including advice to listed entities and large private companies on their general corporate lending and acquisition finance needs. Julie Romer regularly supports the firm’s corporate team on debt financing work, as well as being the chief architect behind the continued growth of the firm’s lender offering. Romer co-heads the team alongside real estate finance expert James Linforth, who also handles some fund financing work.