David J. Billington is a partner based in the London office.
Mr. Billington’s practice focuses on international financing transactions and restructuring transactions. He has experience in bank lending, high-yield bonds, structured and real estate finance, and securitization. Mr. Billington is recognised as a leading banking and finance lawyer by Chambers UK
, and is recommended by The Legal 500 UK
for acquisition finance and emerging markets work. In 2013, Financial News
named David one of their "40 under 40 Rising Stars of Legal Service."
Mr. Billington’s finance experience includes:
- Advising CVC on the leveraged buyout of the European businesses of the Campbells Soup group.
- Advising African Minerals in connection with various financing transactions for Phase 1 of its iron ore mine in Sierra Leone, including a $417m project financing, a $350m Reg S convertible bond, a $250m pre-export finance facility, $200m of equipment financing, and a $100m revolving credit facility.
- Advising Lenta LLC, one of Russia’s leading hypermarket chains, on a RUB25.2bn secured credit facility provided by VTB Capital. The group is owned by TPG, the European Bank of Reconstruction and Development and VTB Capital, with the deal being the largest private equity investment in a Russian business to date.
- Advising Telenet Group, the largest provider of cable broadband services in Belgium, on its €2.3bn senior credit facilities.
- Advising Citigroup on the £2.5bn leveraged buyout of EMI by Terra Firma.
- Advising Helios Investment Partners in connection with a $400m financing to acquire a large emerging markets distribution conglomerate.
- Advising Goodyear on various receivables financing transactions.
- Advising Silver Point Capital as agent and senior lender to the Spanish and South American gaming business Codere S.A.
- Advising TPG on the financing aspects of a number of leveraged buyout bids, including Jimmy Choo, Pets at Home and the hedge fund services provider GlobeOp Financial Services.
Mr. Billington’s restructuring experience includes:
- Advising European directories business Truvo on its €1.5bn cross-border restructuring.
- Advising The Vita Group and its controlling shareholder TPG Capital in a financial restructuring effected by way of a UK scheme of arrangement, as a result of which debt in excess of €600m was written down to approximately €100m.
- Advising the Senior creditors committee on the €3.5bn restructuring of Austrian retail bank BAWAG P.S.K.
- Advising bondholders on the proposed restructuring of Punch Taverns plc.
- Advising a number of hedge funds regarding the trading of claims against Lehman Brothers.
- Advising TPG on the administration of Republic Retail.
- Advising Renaissance Capital on the restructuring of its indebtedness.
Mr. Billington joined the firm in 2006, having previously worked at Allen & Overy in London, and spent 6 months on secondment at Credit Suisse. Mr. Billington received a B.A. degree in law in 1999 with first class honours from Cambridge University (Gonville & Caius College) and received his Legal Practice Certificate from Nottingham Law School in 2000.
Mr. Billington is a Solicitor of the Senior Courts of England and Wales.