H.M. Treasury’s Covid Corporate Financing Facility

Slaughter and May, working with Treasury Legal Advisers, advised H.M. Treasury on the Covid Corporate Financing Facility.

The facility was announced by the Chancellor of the Exchequer on 17 March 2020.

The CCF Facility will be operated by the Bank of England on behalf of H.M. Treasury and will address the potential economic impacts of Covid-19 by providing funding to companies making a material contribution to the UK economy by purchasing commercial paper of up to one-year maturity. Companies do not need to have previously issued commercial paper in order to participate in the CCF Facility. The CCF Facility will operate for an initial period of 12 months.

Her Majesty’s Treasury (HM Treasury), is the department of the Government of the United Kingdom responsible for developing and executing the government’s public finance policy and economic policy.

Slaughter and May’s team included Corporate: Nilufer von Bismarck (Picture); Financing: Matthew Tobin (partner), Guy O’Keefe (partner) Oliver Storey (partner), Charlie McGarel-Groves (associate), Kevin Howes (associate), Kieran Turton (associate); State Aid: Isabel Taylor (partner), Poppy Smith (associate).

Involved fees earner: Kevin Howes – Slaughter and May; Charlie McGarel-Groves – Slaughter and May; Guy O’Keefe – Slaughter and May; Poppy Smith – Slaughter and May; Isabel Taylor – Slaughter and May; Matthew Tobin – Slaughter and May; Kieran Turton – Slaughter and May; Nilufer von Bismarck – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Her Majesty’s Treasury (HM Treasury);