Clive Smith is an asset finance specialist, advising on a broad range of matters including operating and finance leasing, receivables finance, vendor finance, portfolio sales and purchases, leasing company sales and purchases, block discounting and ABL.
Clive is best known for his work in the rail sector, where he is routinely recognised by the legal directories as one the country's leading practitioners in this area. He regularly advises financiers, lessors, operators and manufacturers on the procurement, finance, leasing, maintenance and modification of new and existing rolling stock fleets, in both the passenger and freight markets, and covering both light and heavy rail projects.
Recent work highlights include:
- advising SMBC/Equitix as equity sponsors on the financing of the c.£885m fleet replacement programme procured by KeolisAmey for operation of the new Wales & Borders rail franchise, comprising x4 separate fleets of new-build rolling stock to be manufactured by CAF and Stadler;
- advising CAF in relation to the manufacture and supply of a c.€200m order of Civity UK DMUs placed by Abellio for operation on the West Midlands passenger rail franchise;
- advising RBS/Lombard on the £158m sale to Investec and Shawbrook of the entire Lombard Offshore lease/loan book, originated out of Jersey, Guernsey, Isle of Man and Gibraltar;
- advising Eversholt Rail Group on a series of new-build rolling stock financings totalling in excess of £1bn, including:
- the £490m fleets of Civity UK EMUs and DMUs ordered by Arriva Rail North from Spanish rolling stock manufacturer CAF;
- the circa £500m fleet of Hitachi-built AT300 bi-mode rolling stock ordered in two tranches by Great Western Railway; and
- the £120m fleet of Civity UK Intercity EMUs ordered from CAF by First TransPenine Express;
- advising Arriva-owned train operator CrossCountry in relation to all rolling stock-related aspects of its 2016 Direct Award franchise;
- advising Siemens in relation to the innovative maintenance arrangements relating to the circa £220m order of DesiroCity EMUs placed by South West Trains;
- advising both financiers and ESCOs in relation to a series of energy efficiency financing projects;
- advising Investec in relation to a £20m inventory finance facility for Maplin Electronics;
- advising RBSIF and HIF on a syndicated invoice discounting facility for a large group of catering companies.
- Year qualified – 2001
- Oxford Institute of Legal Practice – LPC (1998-1999)
- St Hugh's College, Oxford University (1995-1998)