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Richard A. Hardwick

Fax +44.(0)20.7648.9001

Richard is a partner in the firm’s international finance group in London. He practises in domestic and cross-border transactions with particular emphasis on real estate finance (both UK and overseas) and on domestic and cross-border acquisition finance. He also regularly gets involved in a wide range of general banking and security transactions. Richard has been practising in the City of London for over 25 years. During this time, he has advised a wide range of banks and financial institutions established in England, overseas banks and financial institutions and a broad selection of borrowers.

Richard was personally recommended by Chambers & Partners in its survey of Banking and Finance lawyers in London. In the 2013 edition it said: [Richard] earns plaudits for his meticulous attention to detail and his ability to "spot things we might have missed." Another client adds: "He has been instrumental in ensuring we get banking agreements that we can live with and that give us flexibility to act”. In the 2014 edition Richard is praised as being "very experienced” and “able to explain in layman's terms the reason behind the approach to something."  The 2016 edition of Legal 500 refers to Richard as a “prompt problem solver” and in its 2019 edition as "proactive and responsive”.

Richard was recommended in the 2016 and 2019 editions of Legal 500 and was recognised as an Other Noted Practitioner in Chambers & Partners (2016 edition) for Banking and Finance.

Professional Background

Richard qualified as a lawyer in 1994.

Speaking Engagements

  • Institute of Art and Law’s Conference on Money Laundering (Chair & Speaker)
  • K&L Gates’ Client Seminars (Regular Speaker)

Acquisition finance
  • Acting for Arena Leisure on the financing aspects of its the acquisition of various racecourses, including those at Lingfield Park, Folkestone, Wolverhampton, Southwell and Windsor
  • Advising CIMB Bank Berhad and Sumitomo Mitsui Bank Corporation in connection with separate bilateral and syndicated term and revolving credit facilities totalling €90m to fund the acquisition of a chemicals business
  • Acting for Sportech PLC on the financing aspects of its £161.8million acquisition of the Littlewoods Leisure division of The Littlewoods Organisation, comprising Littlewoods Pools, Bet 247, Bet Direct and Littlewoods Lotteries, and the subsequent acquisition of Vernons
  • Acting for Brightstar Corporation on the finance aspects of, and its financing of, its acquisition of 20:20 Mobile (a leading provider of distribution and integrated supply chain solutions to the European mobile industry with more than 3,500 customers and an annual turnover of almost £1bn)
  • Advising LKQ Corporation on financing aspects of its acquisition of Euro Car Parts for an initial consideration of £225 million
  • Acting for United Kingdom-based Tax Systems plc on the finance elements of its acquisition of United Kingdom-based, Tax Computer Systems Limited, a company that provides corporate tax professionals with comprehensive technology solutions. The acquisition constituted a reverse takeover of Tax Systems plc under the AIM Rules. The acquisition was financed by a placing of new shares raising £45 million and through new debt facilities with HSBC Bank plc and Business Growth Fund plc respectively
  • Advising Watermill Group, a strategy-driven private investment firm, on financing its acquisition of Andaray (Holdings) Limited and its direct and indirect subsidiaries (trading as Cooper & Turner), a UK-based global manufacturer and distributor of high-strength, large diameter industrial fastener systems
 Real Estate - Investment Finance
  • Advising Oversea-Chinese Banking Corporation Limited in connection with its secured funding of the Reids Palace Hotel, Madeira
  • Advising Oversea-Chinese Banking Corporation Limited, as agent, in connection with €135m term and multicurrency syndicated revolving credit facilities secured on three world class hotels in Italy
  • Advising a lender in connection with £47m facility to finance borrower's acquisition of a shopping centre using a unit trust structure
  • Advising the London branch of a foreign bank in relation to separate term loan facilities (one for £26.4m, another for £28.1m) provided to BVI companies secured on London real estate
  • Advising Henderson (UK) Retail Warehouse Fund in connection with £400million refinancing secured on portfolio of retail warehouses located in England and Scotland
  • Advising a Luxembourg SPV in relation to euro 107 million term loan facility made available by a lender to assist in the acquisition of seven Luxembourg companies holding German logistics facilities
  • Advising a limited partnership comprised within a fund structure in relation to £55m term loan facilities secured against a shopping centre
  • Advising Northern Trust Group, the property investment, development and land regeneration company, in relation to a £238 million facility arranged by M&G Investments. The facility was secured against Northern Trust’s portfolio of industrial, trade and office parks, comprising over 3,600 individual units in total and its c. 1,700 acre land bank
Real Estate - Development finance
  • Advising the London branch of a foreign bank in relation to separate development facilities to fund the development of a hotel (£25.8m) and residential apartments (£56.3m facility) and a facility secured on two hotels in London and owned in an Opco/Propco structure with offshore real estate companies (£14m)
  • Advising the London branch of a foreign bank in relation to separate development facilities one to fund the development of circa 420 residential units (£57.7m facility) and another to fund a serviced apartment development in London (£15.35m)
  • Advising a privately owned company in relation to a £20.4m development facility in respect of prime London commercial premises
Corporate lending
  • Advising a lender in relation to various secured loan facilities made available by it to trading companies
  • Advising a privately owned UK hotel group in relation to a term loan provided by a bank secured on 7 trading hotels in England
  • Advising a privately owned pub company in relation to a £159m term and revolving facility secured on a portfolio of pubs located in England, Wales and Scotland
  • Advising the English law aspects of English companies being party as borrower, guarantor and or security provider in relation to a number cross-border credit borrowing base type facilities (US$125m and circa US$4 billion)
Rescheduling, work out, secondary market
  • Acting for a purchaser in the secondary loan market purchasing a £149 million distressed real estate secured loan from a vendor and subsequently rescheduling such facilities. The real estate was located in England, Scotland and Jersey. Arrangements also included securing the terms of funding for the purchaser to enable it to finance the purchase
  • Advising as lead adviser to privately owned company in relation to the contemporaneous unwinding and settlement of sums owned under a variety of facilities with a bank (exposure totaling circa £335 million), including a haircut under one facility, full discharge under one facility, and the purchase of all debt and security under another
  • Acting for the sponsor in relation to its acquisition, from a lender, of circa £242m of secured debt and related guarantee and security discharge arrangements
  • Advising in connection with the sale by a English bank of its banking business and assets to its subsidiary and their application to the Court to sanction a Banking Business Transfer under Part VII Financial Services & Markets Act 2000
  • Advising Habib Allied International Bank on its purchase of Habibsons Bank
  • Advising PUMA on the finance aspects of its sponsorship and licensing agreement with Arsenal FC, reported to be the biggest commercial deal in European football history
  • Acting for Arena Leisure on finance aspects of a 5-year sale of media rights to Satellite Information Services for a total fee in excess of £100m