Delyth Hughes

delyth.hughes@lw.com

+44.20.7710.4609

Profile

Delyth Hughes represents both buy-side and sell-side clients on complex, highly structured, cross-border OTC derivative transactions, with a particular emphasis on fixed income based derivatives and associated regulation.

Delyth draws on extensive transactional and regulatory experience to advise clients on derivative matters across a range of asset classes. She advises a broad spectrum of clients, including global investment banks, global asset and alternative investment managers, hedge funds, private equity funds and corporates.

Delyth helps clients navigate the complexities of their bespoke derivative arrangements, including in relation to:

Secured and unsecured interest rate, FX, commodity and inflation-linked hedging arrangements, particularly those linked to complex financings, such as:
- Acquisition
- Leveraged
- Infrastructure
- Project
- Real estate
- Structured finance
Deal contingent hedging arrangements linked to complex acquisitions or project financings
Restructuring of large hedging portfolios
Repackaging of inflation-linked cashflows
Structured repo, stock-lending and total return swap transactions
Shari’ah-compliant derivative transactions and Islamic structured products

Experience

Delyth’s recent experience includes advising:

Numerous sponsors and their portfolio companies in establishing secured hedging strategies for purposes of hedging exposures to underlying financings, asset portfolios or commodity/inflation risks and preparing associated documentation on their behalf
Financial institutions in connection with understanding their rights under, and risks associated with, sponsor hedging policies and acting for them in negotiating associated financing and hedging documentation
Several private equity funds with respect to their unsecured fund-level treasury hedging strategies
Multiple utility companies in connection with the repackaging of inflation-linked cashflows into derivative arrangements, often in connection with their whole business securitisation financing structures
Private equity sponsors in connection with deal-contingent hedging arrangements for purposes of managing potential exposures linked to underlying acquisitions, including in connection with several large public to private M&A transactions
Alternative investment managers, asset managers and private equity funds in connection with back-leverage financing strategies documented by way of repo arrangements
Several large financial institutions and commodity houses in connection with bespoke commodity funding derivatives
Buy and sell-side clients with respect to the application of UK EMIR and associated derivative regulations to their derivative transactions, in particular advising on the application of margining, clearing and broader risk mitigation requirements
Financial institutions and private equity sponsors in connection with the structuring of Shari’ah compliant hedging arrangements in connection with both conventional and Islamic financings