Banking and Finance at Herbert Smith Freehills | Career Guide

Herbert Smith Freehills is recognised as a major international law firm with a strong Banking and Finance practice across Europe, Asia-Pacific and the Middle East. The team is known for handling large, cross-border transactions, often involving multiple jurisdictions and complex regulatory overlays.

Key practice areas you are likely to encounter include:

• Acquisition and leveraged finance.

• Syndicated lending and corporate facilities.

• Project, infrastructure and energy finance.

• Real estate financing and restructuring of property portfolios.

• Debt capital markets and structured finance.

• Restructuring, distressed debt and workout situations.

• Derivatives and collateral arrangements connected to financing packages.

The team frequently advises both lenders and borrowers and works closely with tax, regulatory and dispute resolution colleagues when transactions raise multi-disciplinary issues. A notable feature of modern banking work is the intersection with areas such as sanctions, anti-money laundering and ESG-linked financing; HSF's international footprint means the practice often advises on layered regulatory risk and sanctions compliance for cross-border deals.

HSF's banking team is regularly ranked in legal directories (for example, Chambers and Partners and The Legal 500) for cross-border financings and complex restructurings. Rather than attempting to list headline clients here, focus on the types of mandates that showcase the team's strengths:

• Advising on multi-jurisdiction syndicated loan facilities for corporate takeovers and sponsor-backed acquisitions, where coordinating lender groups and choice of governing law are critical.

• Structuring project financings for infrastructure, energy and renewables projects, involving security packages across several jurisdictions.

• Acting on refinancing and covenant renegotiations in stressed or distressed situations, including creditor workouts and intercreditor arrangements.

• Advising on the interaction between loan documentation and regulatory requirements, for example sanctions screening, PRA/FSMA considerations and cross-border enforcement.

To examine specific deals and the team's commentary, consult the firm's banking and finance press releases and directory entries, and supplement that research with resources such as YourLegalLadder, Chambers Student, Legal 500 and LawCareers.Net. These sources will help you prepare commercial awareness examples for interviews and applications.

Junior lawyers in banking and finance at HSF typically spend time on a mix of drafting, due diligence, client-facing communications and project management. Typical tasks include drafting and redlining facility agreements, security documents and intercreditor arrangements; preparing due diligence reports; and responding to client queries on regulatory or cross-border procedural issues.

Essential technical knowledge and practical skills:

• Contract drafting and commercial sensitivity. Be able to explain key loan clauses (e.g. representations and warranties, events of default, negative pledges, covenants and security enforcement mechanics).

• Understanding of security and enforcement across jurisdictions. Practical examples: how to create a fixed and floating charge over English-registered assets versus taking security over shares in an overseas entity.

• Familiarity with syndicated lending mechanics, bank roles (agent, lender, administrative agent) and intercreditor issues.

• Commercial awareness of market drivers: interest rate benchmarks, covenant packages, and the growing role of ESG-linked pricing or sustainability-linked loans.

• Legal research and use of practice tools. Regular tools include Practical Law, Westlaw, LexisNexis and Bloomberg for market data. Knowledge of document automation, version control and e-billing systems is increasingly valuable.

Examples of day-to-day learning opportunities: drafting a short memo that summarises security perfection steps in a particular jurisdiction; preparing a client-friendly note on covenant tests; assisting in negotiating amendments to a facility agreement during a refinancing.

HSF offers structured training for trainees and junior associates, typically combining formal courses with on-the-job supervision. Typical features to expect:

• Seat rotations during a training contract that often include corporate, banking and dispute resolution seats; secondments to clients or other offices are commonly used to broaden commercial understanding.

• Formal technical training on finance documentation, negotiation skills and professional conduct, supplemented by on-the-job mentoring from senior associates and partners.

• Opportunities for international exposure: HSF's global footprint means you may assist on cross-border mandates and occasionally spend time in another office by way of secondment.

• Progression paths: Junior lawyers develop by taking increasing responsibility for drafting and client contact, then move into more specialised advisory or relationship roles depending on market and personal strengths.

To make the most of development opportunities, plan goals with your supervisor early in each seat, keep a skills log of drafting and negotiation experiences, and seek specific feedback on commercial judgment as well as technical drafting.

Competition for banking seats and roles at HSF is strong. Successful candidates combine technical understanding, commercial awareness and evidence of preparation. Practical application strategies:

1. Tailor your CV and cover letter to show relevant experience.

2. Highlight finance-related tasks even if conducted in a non-law setting: for example, internships at banks, paralegal roles on transactional teams, or academic projects on financial regulation.

3. Quantify outcomes where possible: 'Drafted clauses for X loan facility affecting a £Y value transaction' or 'Managed due diligence for a portfolio of Z assets.'

4. Prepare focused commercial awareness examples.

5. Be ready to discuss recent market moves (e.g. central bank rate changes, ESG-linked loan trends, sanctions developments) and explain how they affect lenders and borrowers.

6. Prepare a 60-90 second deal pitch summarising a recent finance transaction and the legal issues presented.

7. Demonstrate technical competence in interviews.

8. Practice explaining key loan clauses clearly and concisely. A common exercise is to be asked how you would protect a lender's ability to enforce security in multiple jurisdictions.

9. Prepare a short drafting task: write a clause or a client memo summarising enforcement steps and costs.

10. Use networks and resources.

11. Seek mentoring and mock interview practice. Platforms such as YourLegalLadder, Legal Cheek and LawCareers.Net offer mentoring, TC/CV reviews and market intelligence that are useful for HSF applications.

12. Read primary commentary: Financial Times for market context, Practical Law and IFLR for technical updates, and Chambers/Legal 500 firm rankings to understand HSF's market positioning.

13. Demonstrate fit with international, collaborative culture.

14. Give examples of teamwork on cross-functional projects, attention to detail under time pressure and respect for professional ethics.

Final checklist before applying:

• Confirm current recruitment routes and qualification requirements on HSF's careers page and via trusted platforms.

• Prepare two or three concise examples of transactional experience or commercial research.

• Practice technical explanations and a short drafting exercise with a mentor or peer.

• Keep an up-to-date record of any client-facing or project management experience to discuss at interview.

Using a combination of technical preparation, concrete examples and targeted market knowledge will markedly improve your chances of success when applying to Herbert Smith Freehills' Banking and Finance team.