Webber Wentzel is an associate member of the Loan Market Association (LMA), based in the United Kingdom. We place significant emphasise on the standardisation of documents and strive to ensure, where appropriate, that our facility and related agreements are LMA based, South African law compliant documents. Our approach is that standardisation promotes liquidity and savings of transaction costs. In addition, it allows our clients in the local finance community to benefit from international experience.
Several of our practitioners are English law qualified or have practised with well-known London law firms.
Our Banking & Finance Practice Group advises most of the major South African banks and several of the local institutions who participate in senior and mezzanine financings from time to time.
We have well-established relationships with international law firms practising in the area of banking and finance, including London and New York City-based firms, and regularly act as local counsel in relation to offshore financings which involve a South African component.
The Banking & Finance Practice Group specialises in the following areas:
General Banking & Finance
General Corporate Credits: We advise lenders and corporate borrowers on bilateral and syndicated facilities. This covers the full spectrum of secured and unsecured corporate credits and often involve multiple borrower / guarantor structures and various combinations of facilities.
Acquisition & Leveraged Finance: We advise lenders and borrowers on acquisition finance, bid finance and other forms of leveraged finance transactions. These include cross-border and local transactions with comprehensive security packages, including international and South African components. Examples of recent transactions include financings in relation to acquisitions in the mining & resources, gaming, financial services, telecommunication and commercial real estate sectors. Our experience includes significant leveraged finance transactions for various acquisitions undertaken by local private equity houses.
Mezzanine Finance: We advise local and offshore mezzanine funds and institutions on European-style mezzanine financings and US high yield bond financings.
Structured & Asset Finance: We regularly advise financiers and borrowers on structured loan and lease financings for various asset classes, particularly aircraft, rolling stock and capital equipment for mines. The capital expenditure programmes of local parastatals are likely to ensure that activity levels in this sector remain high for the foreseeable future.
Commodity Finance: We advise on financing transactions for various types of commodities, such lending or consignment structures for gold and platinum group metals, as well as grain financing transactions.
Hybrid instruments: We regularly advise on preference share finance and convertible loan finance transactions and see significant activity in these areas in the leveraged finance sector and the savings and investment product industry.
Capital Markets, Bonds & Securitisations
We act for arrangers, issuers and ratings agencies in relation to corporate bonds issued by companies and parastatals, as well as asset-backed note issues. Examples of these include:
securitisations of pension-backed home loans, auto loans and mortgage-backed residential and commercial property loans; Domestic Medium Term Note Programmes for local corporates; anda Euro Medium Term Note Programme for a major local bank.
For more information, please download the chapters from Investing in South Africa on:
- Exchange Control;
- Collective Investment Schemes, Exchange Traded Funds and Hedge Funds; or
- Financial Services, Financial Markets and Market Abuse.