Latest news with #NortonRoseFulbright
Associated Press
6 days ago
- Business
- Associated Press
Norton Rose Fulbright welcomes public finance lawyer in Texas
Austin, TX, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Global law firm Norton Rose Fulbright is further boosting its top-tier public finance capabilities with the addition of highly respected senior counsel Taylor Raymond to its Austin and Dallas offices. Taylor represents local governments, state agencies, higher education institutions, special districts and school districts in infrastructure financings. She also has a significant amount of experience with public improvement district transactions. Taylor assists clients in raising capital to fund a range of projects, including constructing and improving utility systems, building and renovating public structures as well as creating new residential communities. Paul Braden, Norton Rose Fulbright's US Head of Public Finance, commented: 'Taylor has earned a glowing reputation among clients for her deep understanding of various financing transactions, including public improvement districts. Her focused knowledge and collaborative spirit make her an excellent fit for our public finance team, which regularly works in tandem with our banking and finance, projects and public-private partnership lawyers to make public infrastructure projects happen.' Licensed to practice in Texas, Taylor also has extensive experience in representing national and regional investment banks in the underwriting of municipal bonds. She received her law degree from the University of Texas School of Law and her bachelor's degree from the University of Southern California. Taylor, who joins from Orrick, Herrington & Sutcliffe LLP, shared: 'Norton Rose Fulbright's public finance team is highly regarded for advising on novel deals and complex financings. This is an exciting move for my practice as I know my clients will benefit from the knowledge offered by the firm's many sophisticated practitioners.' Representing key players throughout the world's government debt markets, including the US municipal securities markets, Norton Rose Fulbright's public finance practice group earned a Tier 1 national ranking from Best Lawyers in the 2025 edition of 'Best Law Firms.' Norton Rose Fulbright Norton Rose Fulbright provides a full scope of legal services to the world's preeminent corporations and financial institutions. The global law firm has more than 3,000 lawyers advising clients across more than 50 locations worldwide, including Houston, New York, London, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg, covering the United States, Europe, Canada, Latin America, Asia, Australia, Africa and the Middle East. With its global business principles of quality, unity and integrity, Norton Rose Fulbright is recognized for its client service in key industries, including financial institutions; energy, infrastructure and resources; technology; transport; life sciences and healthcare; and consumer markets. For more information, visit Attachment Dan McKenna Norton Rose Fulbright [email protected]
The National
25-07-2025
- Business
- The National
Bankruptcy court 'will make UAE more attractive to foreign firms'
The announcement of a new bankruptcy court in Abu Dhabi is expected to broaden the UAE's appeal to foreign firms considering setting up operations in the country, according to experts. The Arab world's second-largest economy on Thursday announced the establishment of the bankruptcy court, which will adjudicate requests and disputes arising from bankruptcy cases. More branches of the court can be established in other emirates, and these will have the same jurisdiction as the headquarters, the Ministry of Justice said. 'Foreign companies considering onshore operations – particularly in FinTech, private credit and digital assets, will welcome enhanced insolvency frameworks,' said Andrew Mackenzie, partner and regional head of litigation, arbitration and regulatory at DLA Piper Middle East. 'The ability to restructure, exit or resolve disputes efficiently is now a credible legal assurance, making onshore incorporation a more attractive proposition.' The UAE is continuing to attract foreign direct investment as the economy grows amid diversification strategies. The UAE received Dh167 billion ($45.5 billion) in foreign direct investment last year, up 48 per cent compared to the previous year, and the country has its sights firmly set on an aggregate FDI target of Dh1.3 trillion by 2031. The UAE accounted for 37 per cent of the total foreign investment flows in the region, according to a social media post on X last month by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. Cepa boost The Emirates is also signing new Comprehensive Economic Partnership Agreements that are helping to attract more foreign direct investment into the country. It has concluded 27 Cepas with different partners across the globe, with 10 of those deals now being implemented. The establishment of a dedicated bankruptcy court marks 'a significant step in further strengthening the UAE's legal infrastructure', Zubair Mir, senior partner at law firm Norton Rose Fulbright, said. 'It is likely to enhance investor confidence by ensuring transparent, efficient resolution of financial disputes and insolvency cases – all key considerations for foreign entities looking to invest or establish operations in the region,' Mr Mir said. UAE's new reforms In 2020, the country overhauled its commercial companies' law to attract more foreign capital and annulled the requirement for onshore companies to have an Emirati shareholder. It also unveiled the NextGen FDI programme, which aims to speed up licensing, increase the issuance of bulk or golden visas, improve banking services and provide commercial and residential lease incentives for technology companies seeking to relocate to the country. The new bankruptcy court is expected to strengthen emerging financial sectors such as crypto, private credit and modern banking. 'These sectors depend on robust legal frameworks that can swiftly and securely resolve creditor issues and restructuring protocols,' Mr Mackenzie said. 'This court greatly enhances legal certainty around new finance models, attracting greater institutional interest and investment.' Regional advantage The new move is also expected to help the UAE position itself ahead of regional peers and attract more FDI. 'While jurisdictions like Saudi Arabia have modernised insolvency laws, many still rely on commercial or generalist courts, and these courts often delay formal restructuring,' Mr Mackenzie said. 'Establishing a dedicated judicial forum places the UAE ahead of regional rivals – making it the go‑to jurisdiction for financial dispute resolution in the Gulf region.' The introduction of a dedicated bankruptcy court in Abu Dhabi is 'an extremely positive step towards providing additional certainly and security to both international and local businesses operating in the UAE', said Mark Gilligan, partner at global law firm Morgan Lewis 'The introduction of a dedicated bankruptcy court will increase the already strong reputation of the UAE as a global commercial and financial centre.'
Zawya
08-07-2025
- Business
- Zawya
M&A deals jump 149% in H1 2025; Rothschild tops league tables: LSEG
Mergers and acquisitions (M&A) involving the Middle East and North Africa (MENA) reached $115.5 billion in value in the first half of 2025—a 149% increase compared to the same period last year, according to LSEG Deals Intelligence. This marks the highest first-half total since LSEG began tracking the data in 1980. The number of deals announced in the region rose by 16%, reaching the highest level in three years, underscoring the region's resilience amid global uncertainty, including the impact of the Trump tariffs. 'Despite broader global uncertainties, we expect M&A activity in the MENA region to remain resilient. The strong half-year performance reflects deep investor confidence and a sustained appetite for cross-border deal making. Furthermore, the region will continue to benefit from strong sovereign capital and strategic diversification initiatives,' Zubair Mir, Senior Partner, Norton Rose Fulbright (Middle East) LLP, told Zawya. These fundamentals, combined with ongoing regulatory reforms, opening of markets and FDI initiatives are creating a robust environment for both inbound and outbound transactions, he added. The largest deal announced so far is Borealis AG's $30.85 billion acquisition of Borouge PLC in the UAE, which is still pending completion, the data showed. The UAE emerged as the most targeted nation, with deals totaling $39.8 billion, followed by Saudi Arabia at $3.5 billion. Deals involving MENA targets totaled $48.0 billion, up 18% year-on-year, reaching a level surpassed only once before—in 2019, when Saudi Aramco acquired a majority stake in SABIC. MENA outbound M&A totalled $64.5 billion during the first six months of 2025, an all-time first half record. The number of outbound deals increased 8% from year-ago levels. The materials sector dominated MENA-targeted M&A by value, accounting for 67% of total deal value, largely driven by the ADNOC-OMV merger of Borouge and Borealis. The financial sector recorded the highest number of deals, totaling $3.3 billion in value. 'Looking ahead, we anticipate strong deal activity in sectors that are central to regional development agendas. Energy—particularly clean energy—continues to attract significant investment, alongside digital infrastructure and healthcare innovation, which are benefiting from both public and private sector initiatives,' said Mir. Energy & Power sector saw deals worth $2.2 billion in the last six-month period. 'Technology also remains a key area, driven by digital transformation and innovation across industries,' said Mir. League tables Rothschild led the MENA financial advisor league table for announced M&A in H1 2025, advising on deals worth a combined $76.1 billion, accounting for 65.9% of market share. Goldman Sachs was second with deals worth $75.6 billion. Citi followed with $48.4 billion. Morgan Stanley took the seventh position, down from the first position in H1 2024, with a 40% drop in deals value to $16.9 billion. LSEG Investment Banking fees are imputed for all deals without publicly disclosed fee information. (Reporting by Brinda Darasha; editing by Seban Scaria)
Yahoo
07-07-2025
- Business
- Yahoo
Private Credit's New Era: Embracing Market Challenges
Recent turbulence in the loan markets has led Vistra Equity Partners to pause its plans for US bank lenders to refinance Finastra's nearly $5bn private credit-backed debt as it approaches maturity. Instead, Vistra is reportedly in discussions for an alternative private credit-backed refinancing. If completed, this would be the largest private credit deal ever. This uncertainty in the loan markets is likely to create more opportunities for private credit. Norton Rose Fulbright partners James Collis and Gemma Long write. Usually, private equity fund managers (GPs) aim to return money to their investors (LPs) before the fund ends by selling all investments. However, the prolonged challenging economic environment has disrupted this process. The prevailing climate has significantly affected the performance of some assets, causing financial distress. Higher interest rates have worsened this distress, especially for borrowers with capital structures set during the peak of the cycle in 2017/2018. The expected normalisation of rates at higher levels will make it hard for some borrowers to argue that their financial problems are temporary, making their current capital structures unworkable. These factors often lower the value of portfolio companies and, sometimes, the debt they owe. Despite this, sale valuations continue to remain stubbornly high. GPs are understandably reluctant to accept lower-than-expected returns for their LPs, and high leverage levels in the companies, set at the peak of the market, make it necessary for GPs to maximise exit returns. The lack of exits results in fewer benchmarks for comparison. These challenges have two main consequences. Firstly, exits become more difficult, leaving some assets 'stranded'. Secondly, refinancing the debt owed by these assets, usually done through a sale, becomes more challenging. For funds, efficiently deploying capital and showing a profitable return for their LPs is crucial for both the current fund's performance and future fundraising. A tough economic climate, especially with a shortage of suitable assets at the right price, puts a lot of pressure on GPs. In the current climate, GPs need alternative ways to exit or deliver returns to their LPs. Continuation funds are one favoured solution. These funds, managed by the same GP, are set up to buy an asset or portfolio company currently held by an existing fund. This approach helps private equity funds manage liquidity challenges and meet investor expectations by providing more time and flexibility to manage and exit investments. For some stranded investments, restructuring will be needed. This may involve resetting the financial structure of individual investments. Refinancing these structures will likely require a more developed capital structure with senior debt and junior/non-cash pay capital (e.g. payment-in-kind or preference shares). These instruments add flexibility to the capital stack, effectively delaying the day of reckoning on the asset's performance. Hybrid lenders would benefit from improved performance, but if the asset's performance does not improve, the fund's equity investment could be at risk. The creditor community in 2025 has changed almost beyond recognition since the financial crisis of 2008. The displacement effect post-2008 saw sub-investment grade assets increasingly financed by the less-regulated private credit community. From 2008 to 2024, the volume of loan assets managed by private credit funds grew significantly - from $375m in 2008 to $1.5tn at the start of 2024. As is well-known, private credit achieved this initially by taking advantage of stricter lending requirements for banks, which led banks to pull out of riskier markets or focus on customers operating in specific jurisdictions. This growth was further aided by the expansion of the traditional sub-investment grade corporate lending market and diversification into markets such as real estate, infrastructure, healthcare, life sciences, and investment grade lending. Over time, private credit has grown and diversified alongside its private equity cousin. This community now plays a key role in the financial ecosystem. As such, private credit has an important seat at the table of many financial restructurings. The flexibility shown by private credit in new money transactions is no less evident in distressed scenarios. Despite the rise in private credit, some roles still require banks' involvement, particularly those related to revolving credit lines/overdrafts, treasury management, and foreign exchange – all areas key to liquidity that tend to move centre stage when a business is stressed. The resulting intercreditor issues will also need to be worked out. The private credit community uses various approaches tailored to each transaction's specific dynamics and the strength of relationships with sponsors. There is no "one size fits all" method. However, private credit's flexibility, due notably to fewer regulatory constraints, allows for more innovative and adaptable solutions to distressed loans compared to traditional bank lenders. The more tailored terms in many loans originated by private credit will also smooth the way to more creative, consensual solutions, including liability management transactions, to address distress. A collaborative, consensual approach is central to private credit's handling of distressed loans. Private credit providers, focused on investor returns and less bound by stringent bank regulations, have more freedom to use their own valuation assessments and strategic considerations for write-downs and further funding. This flexibility allows them to delay crystallising losses and defer enforcement action. Private credit's adaptability allows for more transactional solutions to distress, such as moving up and down the capital structure to maximise returns. This reduces the need for traditional insolvency processes like pre-packaged filings or enforcement, minimising the risks of adverse publicity and value destruction. This is all facilitated by strong relationships with sponsors, often managed by the same professionals throughout the life of the credit. Private credit has come of age. It is now integral to managing distressed assets and ensuring liquidity amid economic uncertainty. Over the past fifteen years, its flexibility and creativity have been key carving out this role. "Private Credit's New Era: Embracing Market Challenges" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
25-06-2025
- Business
- Yahoo
Energy-focused M&A lawyer joins Norton Rose Fulbright in Houston
Thomas Verity reinforces the firm's deep roots in global energy center Norton Rose Fulbright – Thomas Verity Houston, TX, June 25, 2025 (GLOBE NEWSWIRE) -- Global law firm Norton Rose Fulbright continues its strategic investment in the world's energy capital with the addition of Thomas Verity, a Houston-based, energy-focused corporate, M&A and securities partner joining from Latham & Watkins. With extensive experience navigating complex cross-border mergers and acquisitions, Thomas brings proven energy and infrastructure sector experience at a pivotal moment for Houston's energy market. His transactional practice also includes advising multinational corporations, private equity sponsors, financial advisors and special committees of boards of directors through corporate finance transactions as well as general corporate and securities matters. Jeff Cody, Norton Rose Fulbright's US Managing Partner as well as one of its two Global Managing Partners, said: 'Thomas has built an impressive transactional practice based on a deep understanding of the US energy market. Combined with his experience in private equity and capital markets, Thomas is a well-rounded corporate lawyer who strategically aligns with our firm's long-term vision for our global business practice and our Houston office.' Licensed to practice in Texas, Thomas also has significant experience in de-SPAC, spin-off and carve-out transactions, along with proficiency in MLPs, IPOs and equity and debt offerings — capabilities that are increasingly critical as energy companies focus on scale and operational efficiency. Scarlet McNellie, Norton Rose Fulbright's US Co-Head of Corporate, M&A and Securities, commented: 'The energy sector has experienced pronounced growth even as it continues to navigate evolving market conditions amidst US regulatory changes and the global push for clean-energy solutions. Thomas's distinct knowledge of energy M&A is a significant strategic advantage for our firm, as we broaden our resources and deepen our investment in one of the world's global energy centers.' With his significant experience across the energy and infrastructure sectors, Thomas will contribute to growing the firm's robust energy practice. With more than 1,300 energy lawyers across all practice areas, Norton Rose Fulbright was recognized as one of Law360's 'Energy Practice Groups of the Year' in 2025. The global energy team has closed more than 580 transactions valued at US$275 billion over the last five years. Thomas, who earned his undergraduate degree from The University of Texas and law degree from The University of Texas School of Law, said: 'Norton Rose Fulbright is among the world's most reputable firms, especially when it comes to energy matters. The firm's track record of success in transactions and litigation is unparalleled in Houston, so my clients will benefit from its full-service capabilities across legal disciplines.' Norton Rose Fulbright's corporate, M&A and securities team is part of its broader business practice group. Globally, the firm has gained more than 40 new partners in its business practice group this year through either promotion or lateral addition. Norton Rose Fulbright Norton Rose Fulbright provides a full scope of legal services to the world's preeminent corporations and financial institutions. The global law firm has more than 3,000 lawyers advising clients across more than 50 locations worldwide, including Houston, New York, London, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg, covering the United States, Europe, Canada, Latin America, Asia, Australia, Africa and the Middle East. With its global business principles of quality, unity and integrity, Norton Rose Fulbright is recognized for its client service in key industries, including financial institutions; energy, infrastructure and resources; technology; transport; life sciences and healthcare; and consumer markets. For more information, visit Attachment Norton Rose Fulbright – Thomas Verity CONTACT: Dan McKenna Norton Rose Fulbright pour accéder à votre portefeuille
