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Panel Agreement RM3787 for the Provision of Finance and Complex Legal Service

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Panel Agreement RM3787 for the Provision of Finance and Complex Legal Service Simmons & Simmons LLP Prospectus Panel Agreement RM3787 for the provision of Finance and Complex Legal Service March 2021 v.5 STRICTLY PRIVATE AND CONFIDENTIAL Contents Introduction ............................................................................................................................................................... 1 Managing COVID-19 Risks ................................................................................................................................... 2 A Brexit Focus ......................................................................................................................................................... 4 Projects of Exceptional Innovation & Complexity .............................................................................................. 6 High Value/Complex Transactions and Disputes in Regulated Markets/Environments .............................. 8 Rescue, Restructuring & Insolvency .................................................................................................................. 10 Investment and Asset Management .................................................................................................................. 12 Financial Services, Market and Competitive Regulation ................................................................................ 14 Investment and Commercial Banking ................................................................................................................ 16 High Value/Complex Merger & Acquisition Activity ......................................................................................... 18 Asset Finance ........................................................................................................................................................ 20 Corporate Finance ................................................................................................................................................ 22 Debt Capital Markets ............................................................................................................................................ 24 Equity Capital Markets ......................................................................................................................................... 26 Insurance and Reinsurance ................................................................................................................................ 28 Credit/Bond Insurance ......................................................................................................................................... 30 International Development / Aid Funding .......................................................................................................... 32 International Financial Organisations ................................................................................................................ 34 Law of International Trade, Investment and Regulation ................................................................................. 36 Sovereign Debt Restructuring ............................................................................................................................. 38 This Prospectus contains information that is not considered commercially sensitive for the purposes of assisting the Panel Customers in making an award. However, this information remains private and confidential and is not to be distributed beyond the Authority and Panel Customers. Introduction We have advised HMG since mid-1980’s on some of its most complex projects. Many were without precedent, were related to nation-critical infrastructure and assets and required us to blend strategic, tactical, risk management, negotiation, advocacy, team and people management and consensus-building skills to deliver top quality legal advice in a fast-paced environment. Our experience enables us to work well under urgent time pressures and to appl by judgement in providing commercial advice, reflecting the public sector environment. Our recent work with you over the last 3 years on: the NDA Magnox settlement, the stability of financial markets (LIBOR), forming the Dementia Discovery Fund, pan-HMG sleep-in shift liabilities for the national minimum wage of hundreds of million pounds, nuclear decommissioning options and management of the £9bn Nuclear Liabilities Fund and future options for the Atomic Weapons Establishment has given our team a true insight and depth of knowledge into the wide range of current issues affecting HMG. When we work with you, we always commit to provide you with: A team familiar with Whitehall Spotlight on our asset management & investment Our work across many HMG Departments on many funds and financial institutions expertise critical pathfinder models has given us the privilege Over two thirds of our firmwide lawyers’ work is devoted of retaining in our HMG Group a corporate memory to the asset management, investment funds and financial ranging from the early contractorisations and institutions sectors. We’re part of the industry. We work privatisations of the mid 1980/90’s in defence and rail with over 85% of the largest 50 global asset managers, (where we advised on the first defence models and the world's top 10 banks, most major hedge funds in on British Rail privatisation), to the first ever PFI Europe and the US, an array of private fund managers models, prison privatisations, strategic partnerings and some of the world’s largest institutional investors. In and business transformational projects. We have a the wake of the financial crisis and the collapse of governance specialism having acted on the Lehman Brothers, we acted for over 100 European, Asian formation of UKGI and on the governance and and US buy-side funds in disputes heard in the the UK delivery of HS2 and have advised HMG on major High Court, Court of Appeal and Supreme Court. We high value disputes. This experience means we are advise on the full range of legal, tax, capital markets and familiar with the ways of working within Whitehall, our regulatory issues in the sector. With our international lawyers provide strategic and tactical support, act as network in Europe and Asia, as well as our alliance with “critical friend”, synthesise legal risks, and leading hedge fund US law firm Seward & Kissel, we can communicate effectively to senior HMG decision- provide you under this framework with coordinated global makers and lawyers supporting stakeholder legal advice on all finance specialisms, based on our management pan-Government. wealth of expertise that positions us as acknowledged market leading experts. We actively share our knowledge, Solutions to unique issues working closely with industry associations and others. In Our ethos is to consider your vision and objectives, our collaboration with Bloomberg, we’ve delivered a then determine what we can do to support you in survey of almost 2,000 global buy-side professionals, achieving this and delivering the results and benefits providing unique insights on the future of the industry. you want. The type of work we do for you always Our immersion in the sector enables us to share this involves novel issues and we are used to and enjoy experience with you – in supporting you we will go advising you on these challenging situations. In beyond technical legal guidance, delivering rounded, advising you successfully on Magnox, we provided actionable strategic advice. robust solutions to an emerging crisis situation, under intense time pressures and political constraints and against the backdrop of an emerging crisis, legal challenge and enhanced scrutiny. A committed, experienced, senior led team that is focussed on you Our teams are right-sized for the mandate at hand, we prefer small cost-effective and efficient legal teams (working closely with Government Legal Department lawyers) as our lawyers’ experience means we integrate into your teams seamlessly, are always ready to collaborate on any aspects of the mandate, spot wider issues quickly and then draw in our experts to provide clear, on-point guidance quickly and cost effectively. We use technology in support and our service excellence framework methodology enables us to provide you with full transparency on resourcing, project planning and costs in real time. You are a highly valued client of our firm and we look forward to supporting you on future mandates. 1 Managing COVID-19 Risks We have advised HMG on crises requiring urgent intervention (eg Project Cedar). We understand HMG’s requirements and are ready to go. We are equipped with the technology and acumen to continue working seamlessly in supporting on crises and understand the practical aspects of conducting business in lockdown, eg execution of documents/witnessing of signatures. We have, or are advising the Government on all areas detailed below. We collaborate globally to provide up to date advice and business strategies to help our clients manage this crisis whilst continuing to operate and protect the health and wellbeing of their people. For our COVID-19 insights webinar series please click here. For further COVID-19 resources on the areas detailed below please click here. Practical steps Establishing three unique COVID-19 related loan schemes in record time Employment and Pensions We advised HMG, through the BBB, on its bounce back loans scheme, the Coronavirus • Managing a workforce – ACAS good practice, statutory sick pay, holiday and business interruption loan scheme (CBILS) and Coronavirus
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