The Banking & Finance group acts for a variety of banks, financial institutions, government bodies and major corporate borrowers which are involved in finance raising activities. The group acts on all types of finance transactions and advises on the regulation of banks and other financial institutions. In addition, both stamp duty and charity law form part of the group.

Areas of practice

The Banking & Finance group has the advantage of being a group with a skill set that is crucial to other parts of the firm. This means that Banking & Finance graduates are able to work extensively with many different areas of the firm while based within the group. As a graduate in this group, you will be involved in many different areas of law.

Project finance

We act for a range of clients in financing the development or exploitation of an asset where repayment is to be made principally out of revenue produced by the project. Projects worked on by the group include mines, manufacturing plants and infrastructure assets (such as power stations, toll roads, rail, ports and airports). The group usually acts for the lender in such matters, while the Project Finance team in the Projects group would usually act for the borrower or builder on similar transactions.

Debt capital markets

We act for banks, large companies and government entities that borrow significant sums by issuing bonds or other debt instruments which are bought by domestic or international capital markets investors. Our clients also include investment banks that arrange those transactions and trustees who act as representatives of the bondholders and who may hold security for those bond obligations. Bond financing is not only a key source of funding for banks and companies, but it is also vital to many infrastructure and other projects and the development of Australia’s resources, leisure and property sectors.

Consumer financial services

We act for financial service providers and large corporates to provide a range of services in relation to banking products and offerings that consumers are likely to use for their own personal purposes (either household or investment).

Typical services include:

• drafting the terms and conditions for a bank’s products (eg bank accounts and loans)
• arranging and organising loyalty programs, and
• drafting arrangements for financial institutions for products such as telephone, internet banking and EFTPOS.

Property finance

We act for a variety of financial institutions and construction companies to assist in the financing of the acquisition, construction and development of commercial, residential and retail property—from shopping centre development to commercial and office construction.

Securitisation

Securitisation is a financing technique that involves the conversion of usually non-tradeable assets with predictable cash flows into marketable securities. Essentially it is the process of creating securities backed by pools of assets with the securities then being sold to institutional investors. We represent underwriters, dealers and credit enhancers in relation to the securitisation of assets in Australia, North America, Asia and New Zealand. Securitisation covers a range of different transactions, including residential mortgage-backed and asset-backed transactions.

Typical services include:

• planning and structuring advice (including stamp duty and taxation advice)
• advising clients on corporate and licensing issues, and
• dealing with rating agencies and credit support providers.

Your role as a graduate

As a graduate your role may include:

• preparing and coordinating conditions precedent
• drafting and reviewing various types of securities
• drafting various other documents, including board minutes, powers of attorney, short form loan agreements, legal opinions, deeds of release and documentation in relation to financial assistance
• preparing for and coordinating signings and completions
• researching and preparing advice on various legal issues, and
• correspondence with clients and team members.