LG advises new client Numisma Fund on €250 million refinancing facility
16 October 2006
LG has advised new client Numisma Fund, advised by McCafferty Asset Management, on a €250 million refinancing facility of Anglo Irish by Hypo Real Estate Bank International AG. The financing includes a €80 million loan secured on German real estate and a (Swiss Franc) CHF36 million loan on Swiss real estate from Hyporeal Germany.
The LG team advising the property management fund was led by real estate partner Christine Jackson and included banking partner Nick Turner and tax partner Robert Field. The team orchestrated the transaction on many levels, including project management to a tight timescale across a number of jurisdictions.
Christine said: "The deal called upon our both our knowledge of various legal systems and our strong international contacts, as we co-ordinated and oversaw tax, banking and property advice in Germany, Holland, Dutch Antilles, Switzerland and Guernsey and made the necessary introductions for our client to lawyers in each of those jurisdictions. In addition, we managed the release of existing security in the various jurisdictions and the discharging of inter company mezzanine finance."
She adds: "We're delighted to have worked with the Numisma Fund on this complex and rewarding deal and look forward to future opportunities to work together."
LG and Hoelters & Elsing jointly advised the Borrower on the terms of the finance agreement which is governed by German law.
Notes to editors
LG is a London-based law firm that provides high quality practical and commercial advice at all stages of the process of creating and dealing with real estate assets in the UK and internationally, with particular emphasis on development and regeneration work, real estate finance and investment sales and purchases.
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