Clifford Chance
James is an Associate in the London Financial Markets Practice, specialising in sovereign debt restructuring, sovereign debt issuances and derivatives, banking and capital markets transactions. He has experience with a range of financial market products including loans, bonds, derivatives, liability management, repackaging and synthetic securitisation and the associated industry standard documentation. He has also worked on a number of structured finance and structured products transactions.
Prior to joining Clifford Chance, James studied Law at the London School of Economics. Since joining Clifford Chance, he has spent time on secondment in the United Arab Emirates and at Investec and Deutsche Bank’s Emerging Markets team in London.
- the Government of Sri Lanka on its sovereign debt restructuring (ongoing)
- Credit Suisse on a landmark debt conversion transaction for the Republic of Ecuador, which will generate an estimated $450 million for marine conservation in the Galápagos Islands (2023)
- Citi as arranger on a USD 50 million emission-reduction linked bond issued by the World Bank, which was the first ever bond issue linked to carbon credits
- Credit Suisse and CIBC FirstCaribbean on a debt conversion transaction for Barbados. As well as having important underlying marine conservation objectives, the financing benefited from both climate (including hurricane) and pandemic related debt deferral protections
- Goldman Sachs on the Republic of Ecuador’s world-first sovereign social bond, issued in compliance with the ICMA Social Bond Principles and repackaged into two notes to optimise pricing. The transaction was also the first partial-credit guarantee issued by IADB in respect of a sovereign bond. This social bond won the “Social Bond of the Year – Sovereign Award” and the “Award for Innovation – Bond Structure” categories in the 2020 Environmental Finance Bond Awards 2020
- Goldman Sachs on the USD500,000,000 million loan financing to Banco Nacional de Panama via a facility repackaged into a listed bond
- Mizuho Bank on arranging the multi-currency repackaging of a MIGA guaranteed loan to Eskom Holdings into two series of bonds;
- a leading South African bank on a currency repo transaction with an African central bank, including credit risk hedging via CDS and political risk insurance;
- creditor committees on sovereign and sub-sovereign restructurings, including advising the London Club on the ongoing Sudan IMF/Paris Club HIPC process;
- the Council of Europe Development Bank on multiple drawdowns under its EMTN programme
- the Nordic Investment Bank on updates to its EMTN programme
- the Ad Hoc Bondholder Group with respect to the debt restructuring of 6.75% Notes due 2021 by YPF Sociedad Anónima
- the African Development Bank on the provision of a partial credit guarantee in relation to derivative transactions entered into by the Republic of Senegal
- investment banks on sovereign repurchase transactions and other sovereign structured transactions
- a leading Qatari financial institution on the issue of Islamic LPNs (sukuk al wakala) linked to project finance assets in the Middle East
- The Isle of Man on its debut benchmark sustainability notes issuance
- various financial institutions and corporates on debt capital markets transactions including high yield and regulatory capital trades
- various sovereigns, sub-sovereigns and IFIs on EMTN programmes and standalone debt transactions (including ESG-compliant bonds and sukuk)
- on a full range of financial market products including OTC derivatives
- on hedging documentation for project finance and real estate finance transactions and securitisations
- financial institutions on their structured notes and warrants programmes
- transactional securities including cash and synthetic securitisations
- on netting and collateral opinions for IFIs.
- Goldman Sachs on the USD500,000,000 million loan financing to Banco Nacional de Panama via a facility repackaged into a listed bond
- Goldman Sachs on arranging Ecuador’s landmark sovereign social bond issuance and subsequent repackaging
- Mizuho Bank on arranging the multi-currency repackaging of a MIGA guaranteed loan to Eskom Holdings into two series of bonds;
- a leading South African bank on a currency repo transaction with an African central bank, including credit risk hedging via CDS and political risk insurance;
- creditor committees on sovereign and sub-sovereign restructurings, including the ongoing Sudan IMF/Paris Club HIPC process;the Council of Europe Development Bank on multiple drawdowns under its EMTN programme
- the Nordic Investment Bank on updates to its EMTN programme
- the African Development Bank on the provision of a partial credit guarantee in relation to derivative transactions entered into by the Republic of Senegal
- investment banks on sovereign repurchase transactions and other sovereign structured transactions
- a leading Qatari financial institution on the issue of Islamic LPNs (sukuk al wakala) linked to project finance assets in the Middle East
- a leading UK financial institution on a comprehensive review of its global regulatory capital
- Various financial institutions and corporates on debt capital markets transactions including high yield and regulatory capital trades
- various sovereigns, sub-sovereigns and IFIs on EMTN programmes and standalone debt transactions (including ESG-compliant bonds and sukuk)
- on a full range of financial market products including OTC derivatives
- on hedging documentation for project finance and real estate finance transactions and securitisations
- financial institutions on their structured notes and warrants programmes
- on industry-level netting opinions for jurisdictions within the UAE
- transactional securities including cash and synthetic securitisations
- the Ad Hoc Bondholder Group with respect to the debt restructuring of 6.75% Notes due 2021 by YPF Sociedad Anónima
- Several buy-side and sell-side clients on implementation of regulatory initial margin, including negotiation of ISDA/Euroclear/Clearstream collateral transfer agreements and security agreements
- on netting and collateral opinions for IFIs.
News and client work
Contact details
- Clifford Chance, London
- +44 207006 2630
- Email me
- Practice area Capital markets