Howes Percival’s Corporate and Construction teams in Leicester and Milton Keynes have delivered an outstanding start in the first four months of their financial year, completing a series of transactions in the refinancing sector with a total deal value in excess of £200m.
The deals included the refinancing of several bridging and redevelopment loans for clients, including acting for an overseas lender. The overseas lender is looking to do more deals in the UK and Howes Percival estimate another £100m deal in the next couple of months.
Chris Rees, a corporate partner in Howes Percival’s Leicester office, said: “We’re riding a particularly high wave in terms of both originating and closing transactions. The corporate finance world, although uncertain, seems to be holding firm and UK plc currently appears to be an attractive investment for overseas funds. The cost and speed of funding and the appetite to invest has changed recently and new players, particularly from Asia, are entering the market, admittedly as others have temporarily exited.
“We’re seeing significant deal flow from both trade and private equity, especially from overseas clients referred to us by associate firms in our international network. We’re also seeing direct referrals from intermediaries and direct approaches from clients, based on our international reputation.”
Edward Lee, a corporate partner in Howes Percival’s Milton Keynes office commented: “The team has had a tremendous few months. The key in the current economic climate, as it’s always has been, is the ability to deliver commercial solutions in a cost effective and efficient manner. Across the firm, our corporate team has a better pipeline of work than last year. The increase in the quality of work is an endorsement of the investment we’ve made in the now almost 20-strong corporate team, and our ability to work across offices to deliver the best service for clients.”
The Howes Percival team that worked on the deals included: Chris Rees, Edward Lee, Philippa Hebbard and James Czerniewski.