Ogier and Clifford Chance advise on credit facility

Posted: 15/06/2020

Simon FeltonOgier's banking and finance team, and onshore counsel Clifford Chance, have advised HSBC as the lead agent for the syndicate of banks that is making an unsecured £500m Revolving Credit Facility (RCF) available to the States of Jersey to support islanders and the Jersey economy through the Covid-19 pandemic.

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

Partner Simon Felton (pictured) led the Ogier team, supported by Associate Nic Le Breuilly, which worked alongside Partner Charles Cochrane and James Tong at Clifford Chance. Carey Olsen and Slaughter and May acted for the States.

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