Associate

Experience level: Mid to Senior Level
Term: Permanent
Working hours: Full-time
Department: Banking / Leverage Finance
Location: London
The department

Skadden’s London banking group is a multidisciplinary and flexible team servicing a wide range of clients in some of the largest and most complex and innovative financing transactions worldwide.

We are consistently recognised as having one of the leading  leveraged and acquisition finance practices, and regularly advise financial sponsors, corporate borrowers and lenders in both public and private leveraged and acquisition financings. In addition to leveraged finance, a substantial part of the group's practice comprises real estate finance, investment grade finance, restructuring, receivables financing, capital call / fund financing and advising on “alternative” funding techniques, including total return swaps, credit default swaps and repurchase agreements.  An enthusiasm to broaden established skills along with flexibility and an ability to think outside the box in structuring deals, identifying and solving challenges in a transaction are important qualities that we look for in our lawyers.  The practice's sweet spot is in the more intellectually stimulating and challenging forms of finance rather than "cookie-cutter" type work.

 The team in London works closely with the finance practices in our other  offices around the world, primarily the US, Germany and HK.  This leads to a necessary, sound understanding of techniques and challenges thrown up by those jurisdictions and, most importantly how terms and structures developed in the US might be safely adapted to European financings.   Integration of teams across all offices is key to providing the high level of service our clients demand.  Few transactions are purely domestic and solid transaction management skills are key to the role.

The banking teams across the firm regularly works alongside the high yield practice (eg. on a bank bridge to a HY exit or the provision of a SSRCF sitting alongside a HYB).  Consequently, members of the London banking team become quickly very knowledgeable about High Yield financing structures and techniques (which increasingly inform the terms of European financings).

Skadden is one of the very few firms in the London market genuinely able to advise clients across all tiers of the capital structure.   

 

The Role

The new hire will join the banking group in London where you will undertake a wide variety of work reflecting the spectrum of the group's practice.  Working within a small and close-knit team, you will have the chance to work on market leading, high profile, cross-border transactions, advising both financial institutions and borrower clients from around the world.  You will be regularly exposed to clients from the start and will be encouraged to market to those clients to build the firm's relationship.  You will also be expected to prepare and deliver seminars to members of the group, other practice groups and clients.  There is no rigid development path: as your seniors feel you are ready, you will be asked to tackle the next challenge.  Your development is as key to the group as it is to you.

Person Specification

We are looking for an individual with 4 or 6 years' relevant post qualification experience in the London market (or experience in a similar common law jurisdiction), although those with less or more relevant experience will be considered on their merits.  The successful candidate will have:

  • an understanding of different capital structures and the characteristics of the component tiers

  • An appreciation of how PE houses work and familiarity with the different stages of PE transactions

  • Sufficient familiarity and confidence to take the lead on the drafting and negotiation of commitment papers and definitive loan and intercreditor documents;

  •  

  • Good familiarity with the primary LMA documents, including in particular the investment grade and leveraged finance facility agreements and the LMA intercreditor agreements

  • Preferably – but not essentially – experience in one or both of real estate finance and restructuring

  • Complete understanding of English law security

  • Experience of managing the closing of transactions and the condition precedent process

  • Enthusiasm and an ability to work to demanding timetables for very demanding and clever clients

  • Strong client skills and an enthusiasm to develop client relationships and new business opportunities

  • First in class team playing skills

Remuneration

We pay generous rates and provide our lawyers with a highly competitive benefits package.  As of 2021, the package includes:

 

  • Discretionary year-end bonus
  • Technology allowance
  • 22 days holiday and 3 personal days
  • Enhanced maternity/paternity and parental leave
  • Private medical insurance
  • Permanent health insurance
  • Life assurance
  • Interest free season ticket loan
  • Gym allowance
Training and Development

The Skadden training programme has evolved over the years as the firm has grown and assists our lawyers in their development by providing them with the necessary skills to take on as much responsibility as they are ready for. The programme includes:

  • Regular know-how meetings. Our partners participate in City committees that contribute to the development of laws and regulations.
  • Weekly and monthly training seminars and workshops for all levels covering legal topics relevant to the firm's practice areas and skills. These are presented by partners and associates and external specialists, QC's and other professionals.
  • Live video-links to seminars presented across Skadden's network of offices.
  • A number of pro-bono opportunities are also available to our lawyers through our pro-bono programme. We are affiliated to LawWorks, a registered charity which supplies pro-bono projects to the firm.