Anthony Colegrave

Partner, London

Biography

Overview

Anthony is a partner in the derivatives and structured finance practice in the Firm's Capital Markets group in London. Anthony has a wide practice area based on his dual qualification in England & Wales and South Africa. His current practice is made up of derivatives (primarily equity derivatives and hedging solutions) both English and South African law governed and South African financial regulatory in both the capital markets and banking spaces. He is used to working on big cross-border and multi-jurisdictional projects from both a derivative and regulatory perspective.

In relation to his South African practice Anthony is Ranked Band 2 for Banking and Finance: Regulatory in South Africa (Chambers Global 2020). Sources say: "'Anthony Colegrave is particularly well known for his work with derivatives and securities lending. He is appreciated for his broad knowledge of banking law, with market observers describing him as 'very, very impressive.'" (Chambers Global 2020).

Bars and Courts
England and Wales
South Africa
Education
LLB
Rhodes University
BA
Rhodes University
Languages
English

Experience

Derivatives experience includes advising:

  • ISDA on the enforceability of the netting and set-off provisions in the 1992 and 2002 ISDA Master Agreements.*
  • Credit Suisse on preparing a template FX ISDA schedule.*
  • British Airways Trustee in relation to the embedded derivatives transaction required in the transfer of pension benefits.*
  • Midland Motorways Group in relation to certain hedging and deal contingent hedging in relation to financing advanced to it.*
  • Credit Suisse in relation to certain deal contingent hedging transactions.
  • A global financial services group on the enforceability of the collateral provisions contained in the English law Credit Support Deed and the Credit Support Annex in respect of South African domiciled pension funds, long­ term insurers, short-term insurers , collective investment schemes and asset managers.*
  • BNP Paribas on the enforceability of the netting and set off provisions in relation to a hedging a1Tangements to be provided to the Government Employees Pension Fund, a sovereign entity in South Africa.*
  • Goldman Sachs International on various extinguisher interest rate swap transactions with South African corporates including Consol Holdings Limited and Edcon Holdings Proprietary Limited.*
  • Bank of America Merrill Lynch on equity forward transactions with Absa Bank Limited, The Standard Bank of South Africa Limited and FirstRand Bank Limited in relation to the employee share incentive schemes of each of these banks.*
  • A global financial services group on hedging arrangements with Edcon Holdings Proprietary Limited.*
  • Bank of America Merrill Lynch on a ZAR500m equity collar transaction with WDB Construction Proprietary Limited.*
  • The four major banks in South Africa on the proposed derivative prudential limitations to be placed on South African registered pension funds.*
  • Investec Bank on the proposed regulation of OTC derivatives in South Africa under the Financial Markets Act, 2012 including trade reporting and centralised clearing requirements.*
  • Goldman Sachs International on a number of funded equity collar transactions to various counterparties.*
  • Credit Suisse International on various funded equity collar transactions. Various hedging banks and counterparties on FX and interest rate hedging to be put in place pursuant to certain financing and Intercreditor arrangements.*
  • LCH Clearnet on the role of central clearing counterparties under the existing South African legislation and the proposed regulations under the Financial Markets Act, 2012.*
  • ICE Clear on South African clearing requirements.*
  • Multiple offshore banks on the South African exchange control restrictions in relation to South African counterparties entering into derivative transactions with offshore counterparties.*
  • Multiple onshore and offshore banks on the South African licensing requirements for advising South African counterparties on derivative transactions.*
  • a collar transaction concluded with the Public Investment Corporation (or a South African Quasi-public investment entity) in relation to South African listed equities.*
  • International Finance Corporation on a USD200m loan to FirstRand Bank Limited.*
  • A number of international banks (and their local branches) on an equity swap with the Public Investment Corporation (acting on behalf of the Government Employees Pension Fund) in relation to South African listed shares.*
  • A global investment bank and a global financial services group on the extension of the equity swap transactions between a global investment bank and the Public Investment Corporation acting on behalf of the Government.*
  • Absa Bank Limited on a ZAR4.89bn equity collar-backed preference share financing facility for LeBashe Investments (Pty) Ltd.*

Securitisation experience includes advising:

  • Rand Merchant Bank on the required hedging transactions in relation to its Nitro securitisation scheme.*
  • A global financial services group on the sale of receivables owing to BMW Financial Services to a dedicated special purpose vehicle.*
  • Absa Bank on the sale of trade receivables to Mmela Financial Services.*

Regulatory and Exchange Control experience includes advising:

  • Goldman Sachs International Bank on the establishment of its branch in South Africa and various other regulatory approvals.*
  • Merrill Lynch International and The Standard Bank of South Africa Limited as joint bookrunners on a secondary accelerated bookbuild offering by Southern Palace Properties (RF) (Pty) Ltd of shares in Growthpoint Properties Ltd.*
  • Western Union in relation to money remittance services and digital platforns in South Africa.*
  • First National Bank in relation to payment services and e-money transactions.*
  • WorldPay in relation to payment services in South Africa. LCH Clearnet on central clearing regulation in South Africa.*
  • Rand Merchant Bank on establishing a collective investment scheme in South Africa.*
  • Bank of Nova Scotia on the Financial Advisory and Intermediary Services Act.*
  • Bank of America Merrill Lynch on South African Exchange Control requirement for derivatives transacitions.*
  • Merrill Lynch International on the submission of Exchange Control applications to the Financial Surveillance Department of the South African Reserve Bank.*
  • Rand Merchant Bank on Exchange Control requirement for inward foreign loans.*
  • Investec on the application of the PRA Stay Rules.*
  • Merrill Lynch South Africa on the Bank Recovery and Resolution Directive.*
  • Standard Bank on regulatory capital matters.*
  • Foresight Solar Fund Limited in relation to an inward secondary listing on the Johannesburg Stock Exchange i(JSE) using the JSE's fast track listing process, as well as capital raise in South Africa and in the EU.*
  • A global financial services group in respect of queries to be raised with the Financial Services Board relating to the delegation of certain management and administration functions of collective investment schemes in South Africa.*
  • Western Union LLC in respect of general regulatory advise on exchange control provisions, financial services and the Financial Advisory and Intermediary Services Act.*
  • Morgan Stanley & Co International PLC on an Article 305 opinion in the event of the insolvency of its clearing member under the laws of the Republic of South Africa.*
  • WorldPay AP Limited on the potential expansion of its money remittance services in South Africa.*
  • Macquarie Bank Limited on the regulatory requirements applicable to conducting the business of a bank in South Africa, and providing an opinion in respect of section 22(5) of the Bank Act, 1990.*
  • Sumitomo Mitsui Banking Corporation Europe Limited on a multijurisdictional survey in respect of cross border marketing services across Africa.*
  • Standard Bank of South Africa Limited on the Terms and Conditions in connection with Additional Tier 1 Capital.*
  • The Banking Association South Africa on a commercial paper exemption proposed directive for submission to the Registrar of Banks.*
  • Alipay.com Co. Limited in connection with certain promotional activities to be provided in South Africa.*
  • BNP Paribas in respect of a client's existing exchange control approval relating to a cash management scheme operated by the holding company of the client.*
  • Danske Bank in respect of its proposed entry into a Cleared Derivatives and Execution Agreement with a South African pension fund.*

* Matters worked on prior to joining White & Case