Practice

Pierre-Nicolas Ferrand is a partner in Shearman & Sterling’s Finance Group in Paris 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 is significantly involved in matters related to the construction, operation and development of renewable energy projects. He also 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, Natixis, Société Générale, The Royal Bank of Scotland, SNS Property Finance, Crédit Foncier de France 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.

• A major group of domestic electrical appliances with respect to the restructuring of bank debt from a pool of French and international banks
• A major international telecommunications servicer in connection with its offer to purchase the whole businesses of Nortel group, subject to US and pan-European insolvency proceedings
• A major U.K. lending institution, as creditor in a pre-bankruptcy work-out situation (Mandat ad hoc) in France of an international group of companies operating in the food industry
• ANF in connection with the partial financing of the EUR 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
• Bank of Ireland in connection with:
  • the mortgage financing of the acquisition by several institutional Irish investors of several properties located in Paris;
  • the mortgage refinancing of Hypo Real Estate Bank’s participation in a mortgage loan for the acquisition of a property located in Nanterre (suburbs of Paris); 
  •  the EUR 71 million mortgage financing of the acquisition of an office building located at rue de Lisbonne in Paris (8th district)
• Barclays Capital and JPMorgan as joint coordinators and Barclays Bank plc as facility agent in connection with the refinancing of senior credit facilities for the INEOS Group and the related issuance of senior secured notes
• BNP Paribas in connection with: 
  • the EUR 190 million mortgage refinancing of the acquisition by Morgan Stanley Real Estate Fund of the Carlton Hotel in Cannes;
  • the EUR 201 million refinancing of the existing real estate assets portfolio of IPBM, a French listed real estate company belonging to GE Group;
  • the financing of a warehouse sale and leaseback transaction performed in favor of the real estate investment fund ING REEIF I;
  • the financing of the acquisition by ING Real Estate Investment Management of the shopping mall “Les 4 Boulevards” located in Calais (France);
  • the financing of French listed real estate company ANF;
  • the issuance, at the request of ING Real Estate group, of several payment guarantees for an aggregate amount of EUR 135.5 million to secure the payment of an office building under development located in Neuilly-sur-Seine (France)
• Consolidated Precision Products (CPP) and its parent, Industrial Growth Partner (IGP), with respect to the acquisition in court 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
• 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
• EFG Bank (Paris) in connection with the mortgage financing of an acquisition by an investor of a property located in the 8th district of Paris, France
• EFG Bank (Monaco) in connection with the mortgage financing of an acquisition by an investor of a property located in the 8th district of Paris, France
• First Eagle Funds in the restructuring of the capital structure and financial indebtedness of Emin Leydier Group through two Conciliation proceedings
• Geoxia, the No.1 Home builder in France, as debtor in the restructuring of its overall bank liabilities and capital structure (including debt to equity swap)
• Irish Life & Permanent Plc in a financing in connection with the acquisition by SARIP SCI of a building located in Paris, France
• 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 EUR 43 million
• Natixis and Crédit Foncier de France in connection with the acquisition from Goldman Sachs of the CHF 450 million debt held by Goldman Sachs against a subsidiary of Colony Capital and relating to the acquisition of the La Tour hospital located in Geneva (Switzerland), and the refinancing and restructuring of such mortgage debt
• Natixis and BAWAG as lenders to Immobut in connection with the EUR 250 million refinancing of Immobut, and the negotiation of the related finance and security documents
• Rhodia S.A. in connection with the pre-bankruptcy financial restructuring of the Nylstar Group’s debt
• SNS Property Finance in connection with the mortgage financing of several real estate acquisitions and developments, for commercial, office or uses such as: shopping centers in Lille, in Arcueil, Calais and Belgium; student units in Blois, Paris, and other French cities; office buildings at Maisons-Alfort; hotel complex in Toulouse; residentials in Villeneuve d’Ascq and Perpignan
• SNS Property Finance in connection with several restructuring and insolvency matters, including:
  • the restructuring of the liabilities and capital structure (including debt to equity swap) of a distressed real estate developer in connection with two development projects in the hospitality/tourism sector in France;
  • the sale of its stake in Océanis SNSPF to Océanis Promotion, a development group, and restructuring of the financings granted by SNS Property Finance to various entities of the Océanis Group through conciliation proceedings;
  • the transfer of its participation in the “Atlantis Haussmann” and “Béziers” portfolio financings to Natixis in view of the restructuring of the facilities;
  • the restructuring of the financing of an acquisition prior to completion (VEFA) by an Irish real estate fund of an office building in Maisons Alfort;
  • the restructuring of the indebtedness of a retail park company in connection with a commercial center located in Belgium
• 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
• The Royal Bank of Scotland plc in connection with:
  • the organization of a EUR 100 million pan-European investment credit facility for the benefit of Bouwfounds European Real Estate Parking Fund, a real estate fund specialized in the acquisition of parking buildings throughout Europe;
  • 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;
  • the refinancing of the acquisition of a high-end hotel located in Courchevel for an amount of approximately EUR 80 million;
  • the refinancing by a French investor of its existing assets portfolio and the financing of future real estate assets acquisitions
• The shareholders of Christian Lacroix SNC in connection with the latter’s reorganization proceedings (redressement judiciaire) in France
  

• Member, French Institute of Bankruptcy Practitioners (IFPPC), TMA
• Member, French Law Doctors Association