David Clark is a partner in Appleby’s corporate practice group, with over 20 years of experience. David joined Appleby’s Bermuda office in April 2019, after having worked in the firm’s British Virgin Islands office for three years and the London office for 11 years. David practices Bermuda and BVI law and has particular expertise in banking, M&A, project finance, capital markets, structured finance and restructuring. He regularly acts for major European, US and Asian banks and multi-national corporations in relation to complex cross-border financing structures and joint ventures.
David trained at Clifford Chance, London where he qualified into the capital markets department and gained additional experience on secondments to the Hong Kong and Tokyo offices as well as to Goldman Sachs and Morgan Stanley. David also spent three years with a major US law firm where he specialised in structured finance. He read law at the University of Cambridge where he received a B.A. and M.A.
David is ranked as a ´market leader´ in IFLR1000 and described as ‘both knowledgeable and pragmatic’ as well as ‘technically very competent´ by Legal 500. In addition, he was named as a ´Leader in his Field´ by Chambers UK. He also is the author of the BVI chapter in Legal 500’s 2020 M&A Country Comparative Guide.
Recent transactions include advising:
- Worldwide Vision Limited in connection with the acquisition by Blackstone of a majority stake in MagicLab, which builds and operates leading dating and social networking apps, including Bumble and Badoo;
- a global renewable energy group which designs, finances, builds and monitors high-performance solar plants in relation to the restructuring and sale of a solar energy business in Thailand;
- First Quantum Minerals Ltd. (listed on the Toronto Stock Exchange) on the issuance of $2.2 billion of new notes;
- Unilever on the acquisition of Quala’s Latin American personal care and home care portfolio;
- a major global IT group in relation to a $13.5 billion spin off and merger of an IT services business;
- a major gold mining company in connection with a $4.1 billion corporate refinancing involving extensive security arrangements relating to numerous BVI and Jersey companies in the group;
- a global technology group in respect of one of the largest business separations ever conducted (valued at $5 billion);
- a major international private equity firm in relation to the capitalisation of US$1.1 billion in loan receivables;
- a Premiership football team in relation to the post sale restructuring;
- a leading UK mortgage provider on the £145 million refinancing of loans provided to a leading consortium of UK shopping centers;
- a major bank in relation to a £150 million term loan facility provided to the BVI holding company of an international luxury hotel chain guaranteed by a Bermuda incorporated parent;
- a major UK bank in relation to three facilities for a global energy group amounting to $145 million, each secured by pari passu security packages under Bermuda and BVI law;
- a major international bank in relation to the impact of its merger with a European bank on all outstanding cash pooling agreements, security documents and guarantees;
- the UK subsidiary of a major Malaysian property development company listed on the Malaysian Stock Exchange in relation to the acquisition of a BVI property holding company prior to the UK company’s listing on AIM and the related £225 million acquisition financing.
“[David] is sensitive to client demands, very responsive to queries, knowledgeable and willing to assist whenever possible.”