Philip Stopford is a partner in the European and Middle East Finance practice.

He has extensive banking and finance experience advising primarily on cross-border leveraged and acquisition financings, direct lending and complex restructuring transactions. He represents investment and commercial banks, private equity sponsors, corporate borrowers, and alternative lenders on super senior, senior and subordinated financing arrangements in Europe and the Middle East.

Lenders and Other Credit Providers

• The mandated lead arrangers, underwriters and lenders in connection with the senior financing in support of the public-to-private acquisition of Arrow Global plc by TDR Capital.
• The banks in connection with the senior financing in support of the £2.3 billion public-to-private acquisition of Aggreko plc by TDR Capital and I Squared Capital.
• The note purchasers in connection with Stonegate Pub Company Limited’s private placement of $500 million aggregate principal amount of 8.0% senior secured notes due 2025 by Stonegate Pub Company Financing 2019 plc and their private placement of an additional £120 million of 8.25% senior secured notes by Stonegate Pub Company Financing 2019 plc.
• Citibank N.A. as agent on a DIP loan for Weatherford and its debtor and non-debtor affiliates.
• The banks in connection with the senior financing in support of the £2.3 billion public-to-private acquisition of Aggreko plc by TDR Capital and I Squared Capital.
• The lead arrangers in connection with the bridge and term loan financings related to Comcast’s £30 billion public-to-private acquisition of Sky plc.
• The lead arranger in connection with a £135 million bridge facility entered into with Stonegate Pub Company, a portfolio company of TDR Capital, in order to finance four different acquisitions.
• BNP Paribas, HSBC, KKR Capital Markets and Unione di Banche Italiane in connection with the financing of Bain Capital's acquisition of Fedrigoni, a leading European manufacturer and distributor of specialty paper.
• HSBC Bank as super senior lender in connection with the refinancing of Care UK, a portfolio company of Bridgepoint.
• BNP Paribas in connection with the €85 million bridge financing provided to Autodis, a portfolio company of Bain Capital, and the subsequent take-out financing.
• Albacore Capital in connection with various financings, including direct lending transactions.
• Jefferies Finance in connection with the £130 million public-to-private acquisition financing made available to TPG Capital in connection with its acquisition of Prezzo plc.
• The lenders in connection with various refinancing transactions of Virgin Media's bank debt.
• Various distressed debt funds in connection with the first and second lien debt restructuring of several asset based loans secured on four ships.

Borrowers

• Abu Dhabi National Oil Company (ADNOC) in connection with the establishment and launch of its crude oil trading unit: ADNOC Trading, based in Abu Dhabi Global Market (ADGM).
• Mubadala Capital, the financial investment arm of Mubadala Investment Company, a sovereign investor owned by the Government of Abu Dhabi, in connection with the establishment of an evergreen origination platform with Barings, one of the world’s leading financial services firms.
• Synthomer plc in connection with its inaugural high yield bond offering of €520 million 3.875% senior notes due 2025.
• Frigoglass S.A.I.C. in connection with the high yield notes offering of €260 million 6.875% senior secured notes due 2025 by its wholly owned subsidiary, Frigoglass Finance B.V.
• Certain entities controlled by DBAY Advisors Limited in connection with its investment in the trading entities that were formerly 100 percent owned by Eddie Stobart Logistics plc (the Group) regarding a new financing into the Group through payment-in-kind loan notes and a revised financing package with the senior lenders to the Group.
• Ardagh in connection with its offering of $1.8 billion of notes, consisting of €440 million 2.125% senior secured notes due 2026, $500 million 4.125% senior secured notes due 2026 and $800 million 5.250% senior notes due 2027.
• Beacon Rail Leasing in connection with the €1.45 billion equivalent refinancing of its senior debt facilities into a new multi-creditor common terms platform.
• GlobalFoundries, an entity indirectly wholly owned by the Government of Abu Dhabi, in connection with several multi-source, syndicated and bilateral financings including facilities made available by Export-Import Bank of the United States, facilities insured by Atradius Dutch State Business and commercial bank facilities.
• The Frigoglass group in connection with the restructuring of its existing €250 million senior notes and over €80 million of existing bank debt across eight facilities agreements which was implemented by way of scheme of arrangement, a consensual bank restructuring and an equity rights issue.
• DBAY Advisors in connection with the financings for the acquisition of the Eddie Stobart Group and the public-to-private acquisition implemented by way of scheme of arrangement of Creston plc.
• Bridgepoint in connection with its acquisition financing of Element Materials Technology and Element Material Technology's £620.3 million bolt-on public-to-private acquisition of Exova plc.
• Eddie Stobart Group in connection with its £100 million post-IPO financing made available to it by Bank of Ireland, Allied Irish Bank, BNP Paribas and KBC Bank.
• Nokia in connection with the €1.7 billion facilities provided by J.P. Morgan in connection with its acquisition of Siemen’s 50% stake in their joint venture Nokia Siemens Networks.
• Ziggo in connection with the €4 billion credit facilities made available to it by a syndicate of banks led by Bank of America and Credit Suisse in connection with its acquisition by Liberty Global.

Awards & Accolades

• Philip is recommended by Legal 500 UK 2020 for Acquisition Finance and Bank Lending: Investment Grade Debt and Syndicated Loans. In addition, Legal 500 UK 2020 has recognised Philip's “growing profile in the market across a range of cross-border acquisition finance mandates, including on public-to-private transactions” and highlighted his recent representation of “the lead arrangers in connection with the bridge and term loan financings related to Comcast’s £30bn offer for Sky.”
• Philip was recommended by Legal 500 UK 2019 for Acquisition Finance and Bank Lending: Investment Grade Debt and Syndicated Loans.
• Shearman & Sterling was “Commended” in the category “Managing Complexity & Scale” in the Financial Times European Innovative Lawyers Awards 2018, for its work on the Frigoglass restructuring.
• Shearman & Sterling was honoured for “Corporate Turnaround” at the 10th Annual Turnaround Atlas Awards and Restructuring Forum 2018, for its work on the Frigoglass restructuring.
• Shearman & Sterling was “Highly Commended” at the Legal Business Awards 2018 for Restructuring Team of the Year, for its work on the Frigoglass restructuring.

Publications

• “Certainty of Funding: The Operation and Evolution of the U.K. and U.S. Approaches,” Journal of International Banking and Finance Law