BY JOHN O'DONOVAN Partner Banking & Finance
The Banking and Finance department at Harold Benjamin were instructed on a €70m cross-border refinance deal for a hotel in Dublin, Ireland earlier this year. The HB Banking and Finance team led by Partner John O’Donovan and Associate Ozan Zorba provided further assistance to Dublin based practice Mason Hayes & Curran LLP (MHC), in order to complete the transaction. The Borrower was an Irish entity to which MHC provided advice to, however, the particulars of this transaction required the Borrower’s parent company (a company incorporated in England & Wales) to provide further security to the Lender - a require- ment which Harold Benjamin was asked to advise on.
Reviewing the English Law Security Agree- ment in relation to the hedging agreement
Providing the draft release for the existing English security
Facilitating the signing and engrossment of documentation in readiness for completion, including all requisite notary requirements. With the Borrower’s directors based in Harrow, London, our Banking and Finance depart- ment facilitated the signing of the finance documents which included over fifty separate documents for the clients to execute. Having received the Irish company seal for the Bor- rower, Harold Benjamin conducted a signing ceremony within our offices in College Road, Harrow, HA1 1BE, and put together an executed pack of documents to forward to the Lender’s solicitors to aid completion of the matter. This matter highlighted once again the expert and logistical support Harold Benjamin can offer in high value, cross-border transactions. If you would like to find out more, please contact John O’Donovan in our banking and finance team.
The work carried out by our team encom- passed:
Arranging the Corporate authorisations/ Board Resolutions for the English Obligors
Advising on constitutional documents for English entities and provision of English cor- porate certificates Providing and reviewing amendments to subordinated intra-company loans involving English entities and English Law loans Reviewing/amending/negotiating the In- tercreditor Agreement with the Company’s existing lender Reviewing/amending/negotiating the Eng- lish Subordinated Creditor’s Security Agree- ment and Subordination Agreement with the incoming Security Agent
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