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Pierre-Nicolas
Ferrand
Partner
Education
Université de Paris II-Panthéon-Assas, Ph.D. in Law (Doctorat), 1993
University of Chicago, LL.M., 1992
The Catholic University of Paris, D.E.A. in Canonical Law, 1991
Université de Paris II-Panthéon-Assas, D.E.A. in Business and Economic-Law, 1990
Practice
Pierre-Nicolas Ferrand is a partner in the firm’s European Finance Group and works closely with the Property, Bankruptcy & Reorganization and Project Development & Finance groups. His practice is primarily focused on banking and structured finance, including asset-based, real estate and project financings, for French and international arrangers and investors. He has extensive experience in restructuring and insolvency issues, including acquisitions and disposals of distressed assets, workout negotiations, financial and corporate restructurings, debtors and creditors representation, and formal insolvency procedures.
He has represented major financial institutions, multinational and French corporations in connection with the financing, the refinancing and the restructuring of companies and assets, including BNP Paribas, Bank of Ireland, GMAC, Natixis, Société Générale, The Royal Bank of Scotland, Rhodia, SNS Property Finance and U.S. companies.
Prior to joining Shearman & Sterling in July 2007, Pierre-Nicolas Ferrand was a partner at Jones Day, where he practiced in the Paris and Singapore offices. Before becoming a lawyer, he practiced as an assistant trustee in bankruptcy.
Pierre-Nicolas Ferrand has been cited regularly as one of the best banking & finance as well as restructuring/insolvency lawyers in France in Chambers Global—Guide to the World’s Leading Lawyers, published by Chambers & Partners, and is also recommended in The Europe Legal 500 guide, published by Legalease, as a leader in banking and financial law.
Recent Experience
Banking and Finance
- Bank of Ireland in connection with the refinancing of the acquisition of a property located at place Vendôme in Paris (2008); the refinancing of Hypo Real Estate Bank’s participation in a facility for the acquisition of a property located in Nanterre (suburbs of Paris) (2008); the €71 million financing of the acquisition of an office building located at rue de Lisbonne in Paris (8th district) (2007)
- ANF in connection with the partial financing of the €471 million acquisition of the 159 hotels of the chain B&B by Natixis, as Mandated Lead Arranger, Agent and Lender, Société Générale and Banque de l’Economie, du Commerce et de la Monétique as Co-Arrangers and Lenders (2007)
- BNP Paribas in connection with the issuance, at the request of ING Real Estate group, of several payment guarantees for an aggregate amount of €135.5 million to secure the payment of an office building under development located in Neuilly-sur-Seine (France) (2007); the €201 million refinancing of the existing real estate assets portfolio of IPBM, a French listed real estate company belonging to GE Group (2007); the financing of a warehouse sale and leaseback transaction performed in favor of the real estate investment fund ING REEIF I (2006); the financing of the acquisition by ING Real Estate Investment Management of the shopping mall “Les 4 Boulevards” located in Calais (France) (2006)
- Natixis in connection with an acquisition facility for Sterling Energy Plc for the acquisition of Whittier Energy Corporation (2007-2008), and a €162 million financing for the construction, operation and development of nine windparks located in France with a total generating capacity of approximately 85MW and the possibility for extension for future windparks of up to 150MW (2006-2008)
- SNS Property Finance in connection with the €81 million “club deal” financing of the development by the Heron group of a 42,307 sq. meters mixed-use structure near Lille, at Villeneuve d’Ascq (2008); in connection with the €77 million financing of (i) the development of an extension of the railway station of Perpignan (high-speed terminal) and (ii) the development of a 30,000 sq. meters building which comprises offices, a shopping center and an hotel, and the issuance of an extended completion guarantee in favor of SNCF (2008); in connection with the €60 million financing of the acquisition in the future state of completion by the French SPV of an Irish real estate investment fund of an office building of 12,264 sq. meters in Maisons Alfort (2008); as lender and issuer of a completion financial guarantee (garantie financière d’achèvement) in connection with the financing of the acquisition of a 45,500 sq. meters land near Toulouse and the construction thereon of a hotel facilities, 150 residential units and 135 senior housing units, for an aggregate amount of approximately €46 million (2008); several financings of development projects related to office and residential buildings (2007); the financing of the construction of several shopping centers in Lille (2004), in Arcueil “La Vache Noire” (2005)
- LRP – Landesbank Rheinland-Pfalz in connection with the financing of the acquisition of 10 levels and 132 parking spaces in tower “Les Poissons” located in Courbevoie for an amount of approximately €43 million (2007)
- Société Générale in connection with the financing of four wind farms sponsored by Iberdrola (2007); the financing of several cogeneration units portfolios (2007) and the financing of the acquisition by Giraud of a fleet of trucks (2007)
- The Royal Bank of Scotland plc in the establishment of a multi-tranche, multicurrency credit facility for the financing of two fund of funds managed by Composition Capital Partners B.V. investing in funds having interests in European and Asian real estate assets (2007); in the refinancing of the acquisition and the financing of the renovation of a high-end hotel located in Courchevel for an amount of approximately €80 million (2007); in connection with the refinancing by a French investor of its existing assets portfolio and the financing of future real estate assets acquisitions (2007); in a €200 million multi-tranche, multicurrency credit facility for the financing of LaSalle French Fund II (2006)
- Banco Santander Central Hispano S.A. in the financing of the construction and operation of the Beausemblant Windpark (2006)
- Irish Life & Permanent Plc in a financing in connection with the acquisition by SARIP SCI of a building located in Paris, France (2006)
- Société Générale in the refinancing of the acquisition by Abertis, the Spanish infrastructure and transportation management company of the French toll road company, SANEF (Societe des Autoroutes du Nord et de l’Est de la France) (2006)
- Réseau Transport Electricité in connection with $8.3 billion assignment of debt by Electricité de France to Réseau Transport d’Electricité in the spin-off of the electric transportation activities and assets of Electricité de France (2005)
Restructuring & Insolvency
- A large sponsor as debtor in a pre-bankruptcy work-out situation (Conciliation) in France (2008)
- A major U.K. lending institution as creditor in a pre-bankruptcy work-out situation (Mandat ad hoc) in France (2008)
- Consolidated Precision Products (CPP) and its parent, Industrial Growth Partners (IGP), with respect to the acquisition in court (plan de cession) of all the assets of Microcast and Aerocast, two entities operating foundry businesses specialized in the aerospace and defense sectors and facing liquidation proceedings in France (2008)
- Dana, the automotive U.S. company subject to Chapter XI in the U.S., in connection with the French and some of the pan-European aspects involving the French subsidiaries (2007)
- Rhodia S.A. in connection with the pre-bankruptcy financial restructuring of the Nylstar Group’s debt, including with respect to the negotiation with the pool of banks of a debt to equity swap structure (2007)
- The board of directors of a French company in connection with shadow management claims brought by the trustee in bankruptcy following the filing for bankruptcy of the company (2007)
Selected Professional & Business Activities
- Member, French Institute of Bankruptcy Practitioners (IFPPC), TMA
- Member, French Law Doctors Association
Publications
Pierre-Nicolas Ferrand has written various articles on finance and bankruptcy matters. He also speaks regularly on panels and at seminars in France in connection with these topics.
Bar Admissions/Qualifications
Paris
Languages
French
English
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