Futures & Derivatives and Trading

Chambers USA

Legal 500 UK Solicitors

Chambers USA

Chambers USA

The initial coordinating lead arrangers, the administrative agent, the depositary agent, the lenders, the letter of credit issuing banks and the interest rate hedge providers in connection with IPX Power’s committed financing for the construction and financing of the Darden projects in Fresno County, California. The financing encompasses $4.95 billion of construction debt comprising a $403 million letter of credit facility, a $911 million tax equity bridge loan, a $1.81 billion tax credit transfer bridge loan, a $1.83 billion construction loan that will convert to a $1.83 billion term loan upon project completion, and an aggregate $929 million of tax equity investments and tax credit purchase agreements for Darden’s aggregate $2.13 billion of investment tax credits. The financing represents the largest U.S. renewables project financing for 2026.

The initial purchasers in connection with the upsized $1 billion private offering of 0.25% convertible senior notes due 2031 by Compass and related capped call transactions.

SMBC, ING Capital, Crédit Agricole CIB, MUFG and National Australia Bank as coordinating lead arrangers in connection with the financing for Treaty Oak Clean Energy’s Beekman Solar Project in Morehouse Parish and the Hollis Creek Solar Project in Sabine Parish. The Beekman Solar Project financing totals $410 million in non-recourse senior secured credit facilities, including a construction-to-term loan, a tax credit bridge loan, and letter of credit facilities. The Hollis Creek Solar Project financing totals $399 million in non-recourse senior secured credit facilities, structured similarly to Beekman’s financing.

Deutsche Bank as lead arranger and a syndicate led by CPPIB Credit Investments, a wholly owned subsidiary of Canada Pension Plan Investment Board, in connection with a $250 million term loan credit agreement for Emergent UK 3, an international company specializing in temperature-controlled storage and logistics.

Abry Partners on its strategic partnership with AA Ireland. AA Ireland supports motorists and households with comprehensive roadside assistance and a wide range of insurance solutions. The investment from Abry Partners will help accelerate AA Ireland’s growth strategy and strengthen its mobility and insurance offerings for consumers.

TruKKer, the Middle East’s leading digital freight network, on an inaugural cross-border trade receivables securitization facility of up to $300 million. Abu Dhabi Commercial Bank acted as sole arranger and sole lender on the bespoke financing, which is backed by portfolios of trade receivables across TruKKer’s operating markets. The transaction marks a significant development in the Middle East structured finance markets and is among the first multijurisdictional, asset-backed securitizations involving a high-growth technology platform in the region. The facility combines nonrecourse, Shariah-compliant Murabaha structures in the UAE and Saudi Arabia with a conventional financing structure in Turkey, requiring the coordination of multiple legal, regulatory and commercial frameworks.

A global financial institution in well-publicized, industry-wide cross-border investigations in several countries regarding potential irregularities in the setting of LIBOR interest rates, and related class actions.

Two former Barclays traders in connection with FERC investigation and enforcement action alleging manipulation of the California physical power markets to benefit related financial swaps. Obtained dismissal of Mr. Smith in a precedent-setting decision regarding FERC enforcement authority (FERC v. Barclays Bank PLC, No. 2:13-cv-02093, 2017 WL 4340258 (E.D. Cal. Sept. 29, 2017)), which led to a favorable Barclays settlement in which Ms. Levine paid no money, was not sanctioned, made no admissions and all claims against her were dismissed.

Individuals in DOJ and CFTC “spoofing” investigations.

FX and ISDA Fix traders in DOJ and CFTC investigations and related class action litigation.