Deals fillip for Shepherd and Wedderburn

Scottish-based legal heavyweight Shepherd and Wedderburn has said its banking and finance team has experienced “another strong year for deals”, with the value of transactions showing a 10 per cent year-on-year rise.

Fiona Buchanan, head of banking and finance, welcomed the securing of higher-value work. Picture: contributed.

In the financial year to 30 April, the team completed 167 deals with a combined value of £145.4 billion, up from 162 deals valued at £132bn in the previous 12 months.

Fiona Buchanan, head of banking and finance at the law firm, welcomed the securing of higher-value work. “Our clients were particularly active in the renewables, healthcare, technology, real estate and financial sectors last year, which largely reflects the sectors that are performing well in both the Scottish and wider UK economies,” she said.

“Approximately 15 per cent of work won last year was with new clients, notably corporates seeking our banking and finance advisers to put debt funding in place, particularly as Brexit uncertainty continues to influence operating conditions.

“We also saw an increase in lender-side mandates, indicating the banks are getting on with business despite ongoing uncertainties.”

The firm flagged deals completed in the year, such as acting for Moray Offshore Windfarm (East) in the Scottish aspects of the £2.6bn financing of the Moray East Offshore Windfarm.

Buchanan expects technology-led innovation to be a key business and transactional driver. “We are partnering with clients on a number of pathfinder technology-assisted legal projects,” she said.