ALASTAIR HENDERSON
• Project finance: is the means projects use to fund their development and expansion. This can include infrastructure projects such as gas pipelines, mines, and hospitals.
Associate Banking & Finance
What is ‘banking and finance’?
Examples of common finance transactions are:
Others
• Debt capital markets: more common in the United States, this is when companies raise debt directly from debt capital markets through the Clerkships are an excellent opportunity to explore use of instruments such as bonds and notes in the unfamiliar areas of law. I would highly encourage you to consider a clerkship or rotation in banking international and domestic financial markets. and finance, as the technical and soft skills that junior • Property finance: the funding of an acquisition lawyers develop in this area will improve how you of property through debt. practice, wherever you decide to specialise.
Academia
• General corporate finance: this is the means by which companies finance their day-to-day operations. Financiers lend money to companies under a loan agreement, which is often supported by a guarantee or a security interest over the assets of the company.
lawyers receive, there is a whole range of banking and finance-specific training available. As part of the induction into the Banking & Finance team, junior lawyers from each of Allens’ four Australian offices are flown to Sydney for two days of national training with partners and staff (COVID permitting). We also receive weekly training to help build our knowledge of banking and finance law, including by looking at hot topics in the industry.
Government
When I was a student, I had next to no idea what a banking and finance lawyer did! Are banking and finance lawyers smooth-talking corporate fixers, like Harvey Specter from Suits? Are they geniuses with photographic memories, like Harvey’s protégé, Mike Ross? Or are they menacing figures lurking in the shadows, like Hall from Billions? Having worked in the Banking & Finance team at Allens, I can now firmly debunk these myths! And if you are already in the know, you are certainly well ahead of me. Banking and finance teams require lawyers to The Banking & Finance team is a transactional group draft and review a significant volume of financing assisting lenders and borrowers to negotiate and contracts. Junior lawyers are often called on to draft complete their debt-financing transactions. Given the first ’cut’, or draft, of a contract. This provides the nature of finance, where projects and companies excellent drafting experience, which is a highly require debt funding at short notice, banking and valued skill for a corporate lawyer. finance lawyers often operate in a fast- paced environment, where short deadlines must be met, and What support and training do junior lawyers highly commercial advice is expected. Banking and receive? finance transactions vary significantly, depending on Allens places enormous emphasis on the training of the type and scale of finance being sought. junior lawyers. In addition to the training that all junior
Criminal
Given the fast-paced nature of banking and finance transactions, junior lawyers are often called on to assume significant responsibility on transactions. This frequently includes undertaking client-facing tasks from very early on, such as attending settlements, emailing the client, and opposing counsel, as well as picking up the phone and speaking with clients. While these tasks can be quite intimidating at first, their learning value is significant, and the skills they help you develop accelerate your progression as a lawyer.
Courts
Alastair joined Allens as a clerk in 2017 and went on to join as a graduate. He shares his insights into a The role of a junior lawyer on a banking and finance transaction day in the life of a BAF lawyer.
Commercial
LIFE AS A BANKING & FINANCE LAWYER
• Acquisition finance / leveraged finance: this involves the borrowing of debt to acquire another company. This method can significantly improve the returns on equity to the sponsors (purchasers) and is common among private equity firms.
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