Carey Olsen advises on financing response to Covid-19

Posted: 20/05/2020

Kate_Andrews_CareyOlsen_may20Carey Olsen and Slaughter and May have advised the Government of Jersey on its debut unsecured £500m Revolving Credit Facility (RCF). 

The RCF will provide financial backing for various schemes initiated to support islanders and the Jersey economy through the Covid-19 pandemic.

The RCF – provided by Barclays, Butterfield, HSBC, Lloyds and RBS International on a two-year term with two one-year extension options – will help fund the Government of Jersey's response to Covid-19, including its payroll co-funding scheme and other measures to support businesses and islanders.

The Carey Olsen team comprised Partners Alex Ohlsson, Simon Marks and Kate Andrews (pictured), with assistance from Senior Associate Rebecca McQuillan.

The banks received legal advice from Clifford Chance and Ogier.


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