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Clifford Chance

Emma Folds

Emma Folds


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Emma Folds

Emma Folds specialises in domestic and cross border lending. 

Emma is experienced in structuring, negotiating and documenting leveraged buy-outs and other acquisition finance transactions, infrastructure financings and investment grade loans. Emma has also advised on several high profile restructurings.


  • The lenders in relation to Carillion plc
  • The second lien lenders in relation to the restructuring of the HC Starck group
  • The CoCom in relation to the restructuring of the Pelican Rouge group
  • The lenders in relation to the restructuring of Celsa UK
  • Two syndicates of lenders and four bilateral lenders in relation to the recapitalisation of Outokumpu Oyj 

Leveraged Finance

  • The lenders to Orient Hontai Capital in respect of its €720 million senior and second lien facilities for the acquisition of the Imagina Group
  • On the super senior revolving credit facility sitting alongside eDreams ODIGEO's high yield bond issue
  • On the financing for Cinven and CPPIB’s acquisition of Hotelbeds Group
  • On the pari passu bank bond financing for the Antolin Group
  • On the pari passu bank bond financing for Gestamp Automoción, S.A.

Infrastructure Finance

  • CK Infrastructure Holdings Limited on its EUR 5.4 billion bid for the ista group including a EUR 1.99 billion bank financing
  • A Chinese bidder on the financing for its bid for the UK M6 toll road
  • On the financing for OTPP and Macquarie’s bid for Koole Tank Terminals
  • On the financing for CKI's bids for the Fortum Finland and Fortum Sweden assets

Investment Grade

  • On a GBP£1.5 billion revolving credit facility for J Sainsbury plc
  • On the USD$800 million revolving credit facility for Weir Group PLC
  • On the USD$1 billion refinancing for Bacardi Limited
  • The bank in relation to a £1 billion financing for Compass Group plc
  • The banks on the financings for RPC Group plc's public takeover of BPI and private acquisition of three companies in the Letica group
  • On a £3.60 billion revolving credit facility for British Telecommunications plc's acquisition of EE Limited
  • On the US$2.5 billion refinancing for the WPP Group

Contact details

Career and qualifications

  • Lady Margaret Hall, Oxford (MA - Modern History) 1994
  • Admitted as a solicitor in England & Wales 1998
  • Trainee Solicitor and Qualified Solicitor at Wilde Sapte, subsequently Denton Wilde Sapte - 1996 to 2000
  • Joined Clifford Chance 2000
  • Partner since 2006

Awards and citations

  • Emma "engenders total confidence, and has a comprehensive understanding of what is important versus what is not important"
    Chambers 2019
  • Emma is "one of the smartest, most diligent and meticulous lawyers I have ever come across", "she is incredibly knowledgeable and is a lawyer you can trust and completely rely on"
    Chambers 2018 
  • Emma Folds is a "diligent, commercially astute" practitioner with a "strong work ethic."
    Chambers UK 2017
  • Emma Folds impresses clients and peers alike with her capable handling of corporate lendings, acquisition financings and restructurings.
    Chambers UK 2016