Paul Worsnop is an associate within the Corporate department in Jersey. He has a broad and varied practice advising on all aspects of corporate and fund finance with a particular emphasis on real-estate finance, off-shore holding structures and the Jersey security regime.
Prior to joining Appleby Paul spent 18 months in the real estate finance team of a leading international law firm where he advised major international lenders and institutional borrowers on all aspects of real estate finance with a focus on funding the acquisition of large portfolios of UK real estate held in offshore structures.
Paul also spent two years as a project manager in the software development industry before qualifying as a Solicitor which is reflected in the commercial and practical advice he offers his clients.
Paul recently contributed the Jersey chapter to the Chambers and Partners’ “Fintech 2018” guide.
Paul’s recent highlights include:
- Advising JP Morgan Chase Bank in relation to the $1.5bn term loan facility and $1.5bn revolving credit facility to Adient Global Holdings Limited in connection with the spin-off of the automotive seating and interiors business of Johnson Controls Inc.
- Advising the initial purchasers on the issue by Adient Global Holdings Ltd of $900,000,000 and €1,000,000,000 tranches of CISE listed notes.
- Advising one of the top five US banks as agent for the senior lenders in relation to a £560,000,000 (senior) and £240,000,000 (junior) corporate development facilities provided to a London-focused development and investment Company delivering one of the most exciting regeneration schemes in Europe. The facilities refinanced an existing £425,000,000 facility provided to support the acquisition of the borrower by a large global private equity firm and to support one of the largest regeneration projects in the UK .
- Advising Lone Star on financing its £250,000,000 acquisition of Quercus Healthcare Property Unit Trust (part of its wider acquisition of the Quercus Healthcare Fund from Aviva Investors).
- Advising a large private equity firm with AUM in excess of $50bn on numerous transactions leveraging its funds via lending secured on capital call rights.
- Advising a top five US bank on the Jersey elements of £150,000,000 margin loan to a large investment fund with NAV in excess of $5.5bn.
- Advising a top five US bank on the Jersey elements of £150,000,000 put option financing to a large investment fund with NAV in excess of $5.5bn including advice on the option agreement, stock loan, GMSLA and ISDA arrangements and netting.
- Advising a large UK bank in relation to the potential implications of negative base rates on their loan book and suite of standard documents.
- Advising a syndicate of international lenders in relation to €150,000,000 term and €20,000,000 revolving facilities for the acquisition of an international corporate services provider including advise on the regulatory implications of the loan, upstream guarantees by regulated entities and the enforcement of security.
London School of Economics (England)
Nottingham Law School (England)