Biography
Clare is a Partner in the Banking and Finance Team. Clare is a banking and project finance specialist with skills that cover both banking documentation and commercial contracts in the context of project financings, PFIs and PPPs. She has been in practice for over 25 years, the first 14 of them in London with Norton Rose.
Clare advises on a broad portfolio of transactions including:
- general banking matters; and
- PFI/PPP/ commercial projects, including advising local authorities, contractors and funders on project finance structures and outsourcings in many sectors, from PFI and PPP through to energy from waste, accommodation and other infrastructure.
Clare works in the following areas: Waste Management, Energy Innovation, Energy Infrastructure, Banking and Public Sector Outsourcing.
Relevant experience
Commercial projects and PFI/PPP
- Advising project finance lenders and sponsors in respect on ongoing variations to PFI project, debt and equity refinancings of PFI projects; Qualifying Change in Law claims and Compensation claims under PFI/PPP projects.
- North Yorkshire County Council: Advising the council in respect of the North Yorkshire Waste PPP, the largest legacy waste PFI project. North Yorkshire procured a private sector partner to design, build, finance and operate a waste treatment facility involving Energy from Waste, Mechanical Treatment, Anaerobic Digestion and Incinerator Bottom Ash. Total third party funding required for the Project was approximately £350 million. The Project reached financial close in October 2014 and we continue to advise the council throughout the contract duration.
- Advising the successful bidder on the contract documentation for a £200 million (over life of contract) waste collection contract procurement.
- Central Government: Advising a central Government department on ongoing amendments to the intergovernmental financing and gateway documentation for the HS2 rail project.
Banking
- Refinancing of Gas to Grid Project financing: advising the Borrower in respect of the debt refinancing of a project financed gas to grid project which required £10-20 million of debt refinancing.
- South West EfW project financing: advising the Borrower in respect of the project financing of an energy from waste facility, with an appropriate 50 /50 split between senior debt and sub-debt, requiring over £40 million in total
- Advising Lloyds Bank on a £25 million property financing to an independent school.
- Advising a public sector arm’s length lender in respect of the £20 million project financing of a battery project.
- Advising a European fund on numerous receivables financings in respect of clean tech assets.
- Advising lenders and borrowers in the drafting and negotiation of the full suite of finance documents for numerous PFI and PPP project financings since the 1990’s.
