Clifford Chance - BAA Refinancing - deal insight video

Training at Clifford Chance will expose you to some of the most significant issues and corporate transactions in business. But what exactly do we do? Whats all that paperwork for and why does it matter? What role do lawyers play and what might you do if you were to join one of our teams?

We've brought together some of our teams to talk about what they have done for specific clients. Two of them are talking about recent landmark deals and looking at what actually goes on when a deal is coming to fruition, what it feels like to be part of the team, and what contribution a trainee can make. The other is talking about what its like to do pro bono work and why its important.

Ferrovials consortium led takeover of BAA in 2006 was substantially funded by a large leveraged financing. Clifford Chance represented the banks throughout the takeover and innovative plans to refinance a large portion of the debt by securitising the operating cashflows of Heathrow, Gatwick and Stansted Airports in the capital markets. However, a wave of bad news for the industry, and the credit crunch demanded a radical rethink.

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