Joshua Parbhu | White & Case LLP International Law Firm, Global Law Practice
Joshua Parbhu
Joshua Parbhu

Joshua Parbhu

Partner, London

Overview

Josh Parbhu advises clients on complex finance transactions, with a particular emphasis on collateralised loan obligations and other structured products. He has advised a number of leading investment banks, collateral managers, funds and investors in Europe and North America on the structuring and execution of transactions. Josh also advises on other forms of secured and unsecured lending.

Josh has been recognised by a number of leading legal publications. He was ranked as a Band 3 practitioner in Derivatives & Structured Products by Legal 500 UK 2013, Finance – Securitisation by Legal 500 2014, and has also been named by Chambers UK as a Leading Lawyer.

Currently based in London, Josh recently spent four years in the Firm's Johannesburg office. He was born and educated in New Zealand, and is qualified in England and Wales.

Bars and Courts

  • England and Wales

Education

  • BA, University of Victoria, Wellington, New Zealand
  • LLB, University of Victoria, Wellington, New Zealand

Languages

  • English

Experience

US Investment Bank, 2014

Advised a US investment bank as placement agent on the issue by Babson Euro CLO 2014 2 B.V., of €269,500,000 Class A-1 Senior Secured Floating Rate Notes due 2027, €46,000,000 Class A-2 Senior Secured Fixed Rate Notes due 2027, €55,400,000 Class B-1 Senior Secured Floating Rate Notes due 2027, €14,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2027, €35,800,000 Class C Senior Secured Deferrable Floating Rate Notes due 2027, €27,500,000 Class D Senior Secured Deferrable Floating Rate Notes due 2027, €39,000,000 Class E Senior Secured Deferrable Floating Rate Notes due 2027, €20,000,000 Class F Senior Secured Deferrable Floating Rate Notes due 2027 and €58,300,000 Subordinated Notes due 2027. The portfolio is managed by Babson Capital Europe Limited. The notes (other than subordinated notes) are rated by Fitch and Moody's and listed on the on the Global Exchange Market of the Irish Stock Exchange.

US Investment Bank, 2014

Advised a US investment bank as placement agent on the issue by St. Paul's CLO V Limited of €208,500,000 class A secured floating rate notes due 2027, €42,000,000 class B secured floating rate notes due 2027, €19,700,000 class C secured deferrable floating rate notes due 2027, €17,500,000 class D secured deferrable floating rate notes due 2027, €24,800,000 class E secured deferrable floating rate notes due 2027, €10,500,000 class F secured deferrable floating rate notes due 2027 and €38,400,000 subordinated notes due 2027. The portfolio is managed by Intermediate Capital Managers Limited. The notes (other than the subordinated notes) are rated by Fitch and Moody's and listed on the on the Global Exchange Market of the Irish Stock Exchange.

US Investment Bank/ UK Bank, 2013

Advised a US investment bank as placement agent and co-arranger and a UK bank as co-arranger on the issue by St. Paul's CLO III Limited, of €326,700,000 class A secured floating rate notes due 2028, €64,900,000 class B secured floating rate notes due 2028, €32,400,000 class C secured deferrable floating rate notes due 2028, €26,400,000 class D secured deferrable floating rate notes due 2028, €33,000,000 class E secured deferrable floating rate notes due 2028, €15,400,000 class F secured deferrable floating rate notes due 2028 and €57,700,000 subordinated notes due 2028. The notes (other than subordinated notes) are rated by Fitch and S&P and are listed on the Global Exchange Market of the Irish Stock Exchange.

UK Bank, 2013

Advised a UK bank as arranger and initial purchaser on the issue by Glacier Securities Limited of €24,137,606 Class A notes due March 2046 and €12,997,172 class B notes due March 2046. The notes are backed by bonds issued by EMF-UK 2008-1 PLC and are listed on the Irish Stock Exchange. The transaction is compliant with Article 122a of European Union Directive 2006/48/EC and Article 17 of European Union Directive 2011/61/EU.

English Collateral Manager/US Collateral Manager, 2013

Advised an English collateral manager and a US collateral manager as joint investment managers on the issue by Guardian Loan Opportunities Limited of US$ 554,600,000 senior secured notes due 2016. The notes were largely backed by leveraged loans and listed on the Irish Stock Exchange.

English Collateral Manager, 2012

Advised an English collateral manager in respect of amendments to €55,000,000 class A-1 floating rate notes due 2024, US$ 71,600,000 class A-2 floating rate notes due 2024, €76,500,000 class B-1 floating rate notes due 2024, US$ 40,000,000 class B-2 fixed rate notes, US$ 47,800,000 floating rate deferrable notes due 2024, US$43,000,000 class M-1 fixed rate notes due 2024 and US$20,300,000 class M-2 fixed rate notes due 2024. The terms and conditions of the notes issued by SVG Diamond Private Equity II PLC were amended to permit excess cash held in the PEI reserve account to be released to repay principal on the notes. Amendments were also made to the liquidity facility to allow partial returns or collateral as and when the liquidity facility is partially reduced or partially cancelled. The priority of payments was amended to clarify where any outstanding fees due to the liquidity facility provider upon termination of the liquidity facility were to be paid. The amendments were effected by way of a consent solicitation by written resolution.

UK Bank

Advised a UK bank on establishing the rated and listed €5,000,000,000 Glacier multi-issuer asset-backed medium term programme.

Awards & Recognition

The Legal 500 2014

Finance – Securitisation; Finance – Derivatives and Structured Products, South Africa (Banking and Finance)

The Legal 500 UK 2013

Finance – Derivatives and Structured Products