"Brings 'deep corporate finance, debt and securities related experience'"
IFLR1000

Overview

Benjamin Sandstad is a partner in Mayer Brown's Hong Kong and Singapore offices and a member of Mayer Brown's Global Finance Practice Group. Ben has almost twenty years' legal experience, including as global head of legal for credit, lending and governance for a leading global bank, and specialises in structured finance, trade finance (particularly trade lending and open account finance) and credit lending advisory, process and governance in line with the Basel requirements. Ben draws on his combination of senior in-house and private practice experience to holistically advise clients on the origination of, process and governance for, and distribution of risks in respect of, the full spectrum of credit and lending transactions, particularly where there is an underlying asset, trade transaction, recourse, tax or regulatory requirement. Ben's extensive distribution experience spans the full range of credit risk mitigation, compliance with prudential capital rules (e.g., CRD IV) and achieving de-recognition and non-consolidation outcomes, with a particular focus on portfolio distributions and securitisation (including performing and non-performing assets).

Spoken Languages

  • English

Experience

  • Acted for a multilateral development bank as arranger on a global supply chain financing utilising electronic platforms and involving multiple Asian emerging markets.
  • Acted for a global bank on the portfolio sale of distressed and non-performing trade and lending assets, through risk participations and total return swaps with profit sharing.
  • Acted for a global bank in relation to its template documentation for use in over 60 jurisdictions to document lending and trade facilities.
  • Acted for a global bank as originator in relation to the establishment of a cross-border securitisation programme to monetise over 20 trade finance products originated by local entities through the issuance of asset-backed notes.
  • Acted for the finance business of a global conglomerate on a receivables acquisition and servicing survey involving 18 Asian jurisdictions.
  • Acted for a global bank as financier for various receivables and inventory financings (including borrowing base facilities) for precious gem distributors.
  • Acted for the arranger and grantor in relation to a master funded participation arrangement to permit fund-raising and risk transfer in respect of a portfolio of letter of credit exposures.
  • Acted for a global bank to negotiate templates for the participation by the global bank in lending programmes of a multilateral development bank involving multiple borrower types and markets.
  • Acted for the finance business of a global conglomerate in relation to Hong Kong and PRC aspects of the transition of its receivables finance business from the US to Asia.
  • Acted for a PRC oil exploration and production company in connection with a proposed issue of RMB denominated bonds, to finance its expansion and acquisition of machinery.
  • Acted for the finance business of a global conglomerate as to its on-sale of a portfolio of receivables to a PRC based financial institution.
  • Acted for a shipping conglomerate on a series of hedging arrangements in relation to its US$2.3 billion financings of the construction and acquisition of 10 LNG tankers.
  • Acted for a global bank in relation to various confidential structured funding transactions, including:
    • An A$750 million transaction involving a series of structured derivatives and debt across Hong Kong, Singapore, Luxembourg and England.
    • A US$149 million transaction involving a conditional sale arrangement and collateral across Singapore, Thailand, Luxembourg and England.
    • A US$525 million transaction involving a bond, a collateralised structured derivative and a series of coupon strips, principal participations and swaps across four jurisdictions.
  • Acted for the financial institution originator in relation to the monetisation by sale of assets booked to its Hong Kong and Singapore balance sheet via a covered bond.
  • Acted for a global US bank as originator in relation to the establishment of a cross-border medium-term note issuance programme to monetise trade finance loans originated by local entities backed by segregated or blended pools of trade finance loans, and the first issuance thereunder.
  • Acted for the liquidators of the Hong Kong Lehman entities in relation to various restructuring matters, focusing on disposals of debt positions and unwinds of derivatives and treasury positions.
  • Acted for the arranger on the accession by two Hong Kong group companies into a multi-jurisdiction secured facility, including restructuring from a club facility to a syndicated facility.
  • Acted for a global bank in relation to drafting its legal and credit policy requirements as they impact banking documentation across lending, trade, corporate finance and financial markets.
  • Acted for a global bank on the operational risk inherent in its banking documentation processes.
  • Acted for the arranger and original lender in relation to a cross-border loan facility to a PRC quasi-sovereign, the use of proceeds being for acquisition purposes.
  • Acted for a PRC Bank for its treasury function, including its ISDA Master Agreements, Global Master Repurchase Agreements, Bullion Lending and Securities Lending arrangements.

Perspectives

Education

University of Sydney, Bachelor of Arts

University of Sydney, Bachelor of Laws

Admissions

  • Hong Kong
  • Australia, New South Wales
  • "has a growing reputation in the securitisation scene. He is also skilled in a range of debt issuances, including Shari'a-compliant offerings" – Chambers Global and Chambers Asia Pacific (2013)
  • "[brings] deep corporate finance, debt and securities related experience that should be a substantial asset to the firm's team" – IFLR1000 (2011)