Jat specialises in a range of debt finance transactions, acting for credit and special situations funds, corporate clients, private equity sponsors, bondholders and senior and mezzanine lenders in relation to, amongst other things, workouts and restructurings, and real estate finance.
He has worked on several domestic and international private and public-to-private deals including the bid for Corus by CSN. His international finance experience also includes a secondment to the offices of a law firm in Milan, where he assisted with English law aspects of a securitisation and refinancing relating to a major Italian airport company.
Clients for whom he acts include Alchemy Special Opportunities, Ares Capital, Arora Group, Better Capital, GAME Digital plc, Goldman Sachs, ING, Legal & General, OpCapita, Realstar Group, The Royal Bank of Scotland and Warwick Capital.
Jat’s restructuring experience includes a secondment to the restructuring group legal team at The Royal Bank of Scotland, where he was involved in the $ 12bn restructuring of an international financial institution. Jat is a member of the Institute for Turnaround.
Recent highlights include advising:
- Alchemy Special Opportunities in relation to its leveraged refinancing of an Austrian retailer;
- FRP, the administrators of Fairline Boats;
- Kew Green Hotels and its shareholders in relation to its debt restructuring, lease restructuring, certain bolt-on acquisitions (including by way of a “loan-to-own” strategy) and successful exit to China Travel Service;
- bondholders in relation to the restructuring of a solar power plant in Spain;
- OpCapita on its “loan-to-own” acquisition of the UK business and assets of GAME Digital, its operational turnaround and IPO financing on exit and its subsequent £75m and £100m financings; and
- ING Bank, Eurohypo, Deutsche Hypothekenbank and Grant Thornton (as administrators) on the restructuring of the Britannica retail property portfolio.
Real estate finance
Recent highlights include advising:
- the Build to Rent Fund, Industrial Property Investment Fund, the UK Property Income Fund II, the Bishopsgate Long Term Property Fund and the Leisure Fund, each of which is managed by Legal & General Property, in relation to their financings;
- ING and Bank of China on the £84m refinancing of Bond Street House;
- an affiliate of real estate firm Realstar Group in relation to the development financing for a £200m plus mixed use development at Newington Butts in Elephant & Castle, South London;
- ING on a £108.9m facility for the acquisition of 48-50 New Bond Street; and
- Arora in relation to the £175m refinancing of the Sofitel Hotel at Terminal 5, Heathrow and a £135m refinancing of a portfolio of operated hotels.
Corporate lending and leveraged finance
Selected highlights include advising:
- Oak North Bank in relation to its super-senior and unitranche facilities to Potensis;
- e2v technologies plc in connection with its £80m investment grade refinancing; and
- Inspecs, the British eyewear design house, on the financing for its acquisition of frame designer and manufacturer Killine Group, from a Hong Kong-based private equity firm.
"'On the restructuring side, the overall service level was excellent. Jat Bains and Paul Keddie both did an excellent job, provided advice that was commercial and got to the root of the issues."
IFLR 1000 2015
Jat Bains is "'highly skilled and very professional in all respects'."
The UK Legal 500 2012
"New partner Jat Bains hit the ground running picking up work last year for iSOFT on the restructuring of its debt. This was done in advance of the sale of its business solutions division to Capita."
IFLR 1000 UK 2013