25 Apr 2013 | 11:04 am |
International law firm Pinsent Masons has advised Lloyds TSB Bank plc, Santander UK, HSBC Bank plc and The Royal Bank of Scotland plc on certain banking facilities forming part of £535 million worth of financing arrangements for Costain Group PLC in connection with its proposed all-share merger with May Gurney Integrated Services PLC.
The merger, which was announced to the markets on 27 March, will – if completed – create one of the leading integrated services providers in the UK.
The transaction required the raising of £95m of new term and revolving credit facilities, together with simultaneous completion of consents, waivers and amendments to ensure the continued availability of £125m of bilateral bonding, cash advances and overdraft facilities, £275m of bilateral surety facilities and Costain's existing £45m revolving credit facility.
The transaction was led for Pinsent Masons by London head of banking, Martin Bishop, who was assisted by Liam Terry, Anaïs Spacey and corporate department senior associate, James Broadhurst. Martin Bishop commented:
"Pinsent Masons has advised Costain's banks on several financings for Costain and we are very pleased to played a role in facilitating one of the most significant transactions in the infrastructure sector for some time. Looking ahead we are likely to see further consolidation in the sector and this deal is proof positive that bank funding is available for well-considered M&A activity."
Slaughter & May advised Costain and Maxwell Winward advised the surety providers.
Multinational law firm Pinsent Masons has appointed Aurélia de Viry as a partner in the firm’s corporate tax team in Paris, effective from 1 September.
Multinational law firm Pinsent Masons has advised the developer in securing development consent from the Scottish Government for the Berwick Bank Offshore Wind Farm—now officially the largest consented offshore wind project in the world.
Multinational law firm Pinsent Masons has today unveiled its unaudited financial results for the year ending 30 April 2025. This year's results have delivered a revenue increase of 4.7% after a year of continued growth within the firm’s core sectors and across its jurisdictions.
Multinational law firm Pinsent Masons has advised Photon Energy N.V. and Bankhaus Scheich Wertpapierspezialist AG on the issuance of EUR 55m 6.50% GREEN bonds due 2027.
With national lockdown commencing, financial services experts foresee a continued step-change in support offered to customers grappling with mental health concerns as banks continue to ramp up measures to help consumers manage pressure on finances prompted by the pandemic.
Project uses NLP and AI to save hundreds of hours of manual processing time
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on
Location contacts
Europe: [email protected]
Asia: [email protected]
Middle East: [email protected]
Australia: [email protected]