Overview
David Shennan is a corporate partner in the Financial Restructuring group, based in the Firm’s London office.
David has considerable experience acting for lenders, borrowers, issuers, financial institutions and other alternative credit providers across a broad spectrum of corporate finance transactions in domestic and overseas markets, including secured and unsecured lending arrangements, leveraged and acquisition financings, cross-border and multi-currency financings and debt restructurings and recapitalizations. In recent years he has in addition gained significant experience advising clients on a range of mandates across the NPL sector (in particular in the Greek market), acting for NPL securitisation originators, investors and servicers.
Education
- University of Cambridge Bachelor of Arts 2002
- The College of Law (The University of Law) G.D.L. 2004
- The College of Law (The University of Law) L.P.C. 2005
Representations
- Representing the lenders providing an asset-based working capital facility to Wolseley UK Limited group following its acquisition by Clayton, Dubilier & Rice
- Advising doValue S.p.A. and its Greek subsidiary in connection with its roles as servicer of the c.€6bn "Project Frontier" non-performing loan securitisation originated by National Bank of Greece and benefitting from a Greek government guarantee pursuant to the Hellenic Asset Protection Scheme ("HAPS"), and as part of the investment consortium alongside affiliates of Bain Capital Credit and Fortress Investment Group
- Advising doValue S.p.A. and its Greek subsidiary in connection with its roles as servicer of a c.€3.2bn HAPS non-performing loan securitisation originated by Eurobank, and in connection with its purchase and subsequent on-sale of securitisation notes
- Acting for the new investors in a transaction to restructure a London-based premium serviced office supplier in administration
- Advising a group of care home landlords in connection with their acquisition of the portfolio of care homes and their exposure to tenants being part of the distressed Four Seasons Health Care group
- Acting for the lenders in connection with the restructuring of the financial indebtedness of Metals Exploration PLC, a UK company with mining operations in the Philippines, and associated relationship agreements and governance arrangements
- Acting for Piraeus Bank S.A. in three securitisations of, in aggregate, €11.85 billion of non-performing loans in HAPS transactions and the sale of certain notes to third party investors
- Acting for Piraeus Bank S.A. in connection with the sale of a €1.95 billion portfolio of non-performing and denounced corporate credit exposures, backed by real-estate collateral, to Bain Capital Credit LP
- Representing the sponsor in connection with the refinancing of its acquisition of a top tier hotel on Lake Como, Italy
- Acting for the lenders in connection with the restructuring of a €416 million credit facility to DTEK, Ukraine's largest energy holding company
- Acting for a Saudi-based investment fund in connection with the financing of its ongoing development of prime real estate assets in Knightsbridge
- Advising Nokia Corporation in connection with its €1.5 billion five-year multicurrency revolving credit facility, incorporating a sustainability pricing mechanism linking the margin of the RCF to two of its key ESG targets
- Representing Eurobank Ergasias S.A. in connection with the financing aspects of its disposal of its Romanian subsidiary, including the ongoing management and servicing of certain NPL portfolios carved out of the sale and subsequent reorganisation of internal debt structure