Having acted for lenders, borrowers and insolvency practitioners, Fran Rush has advised corporate, major banks and other financial services clients on project and asset structuring, finance and lending related issues for over 20 years.

After working as UK counsel for one of our national clients establishing its European business, Fran is able to draw on a breadth of cross-border experience in a number of asset classes. Her clients come to her to understand the risks that need to be identified and managed when developing and selling new products, or products developed for more traditional classes of assets.

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Expertise

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Banking and Finance

NAB and ANZ: Fran regularly acts for National Australia Bank Limited and Australia and New Zealand Banking Group Limited in lending to listed and wholesale property trusts, restructuring those facilities and more generally in connection with property finance transactions where the bank took both senior and mezzanine financier roles.

AMP: Fran acted for AMP Capital Investors in the restructure of its statutory life insurance portfolios and the development of a number of unitised products to offer to Australian institutional and retail investors. She has led the transaction teams for a number of projects, including:

  • the establishment and seeding of assets for AMP's direct wholesale retail and commercial funds;
  • the takeover and restructure of all of the AMP listed property trusts;
  • various joint venture arrangements in Australia and New Zealand for retail and commercial property;
  • the development of joint venture assets; and
  • in conjunction with our financial services and tax teams establishing offshore property funds in the United Kingdom and elsewhere in Europe. This required the investments to be structured using debt and equity instruments to deliver tax efficient returns to Australian superannuation and tax exempt investors.

Fran also recently led the Clayton Utz team in connection with the $2B restructure of AMP Capital's joint venture arrangements with the Westfield Group. This included advising AMP Capital in connection with various asset swaps, the revised management and development arrangements and the $864M equity capital raising from two foreign investors, Canadian Pension Plan Investment Board and Abu Dhabi Investment Authority.

Sovereign Wealth Fund: Fran is currently acting for an Asian sovereign wealth fund in connection with the establishment of an Australian fund and acting in connection with ongoing derivative transactions connected with it.

ANZ and Bank of America:
Fran has been acting for these banks since 2000 in connection with the leveraged lease and sale of a number of Boeing 767 aircraft on lease to an Australian operator.

Passenger and vehicular ferries and other logistics arrangements: Fran is currently acting for a financier providing funding in connection with a number of ferries and other vehicles used for a major resource project in Queensland. The financing is being provided for construction of the ferries both in Australia and offshore, with structured charter arrangements and put options to be exercised at the end of the finance term.

Asset, IT and Infrastructure Leasing Businesses: Fran acted for Macquarie Equipment Rentals in relation to a number of its asset leasing businesses in Australia (IT, infrastructure and aircraft engine fleet) and elsewhere.

Defence IT equipment and services: Fran is acting for the Department of Defence in connection with its IT equipment and procurement program, including how its suppliers propose to bundle services and financing of IT equipment across the Department.

Transfield Holdings & Campus Living Group: Fran acted in relation to its Australian and New Zealand projects. In her role she has worked with the Transfield Holdings and CLV teams in connection with the project development, construction and project financing and assisting the Transfield Holdings in relation to their equity investments in the projects. Francesca has been UK counsel for the group and was responsible for establishing the structure for the cross-border investment by the Campus Living Villages Fund and acquiring seed assets for the UK business.

See Banking and Finance

Structured Finance

AMP: Fran acted for AMP Capital Investors in the restructure of its statutory life insurance portfolios and the development of a number of unitised products to offer to Australian institutional and retail investors. She has led the transaction teams for a number of projects, including:

  • the establishment and seeding of assets for AMP's direct wholesale retail and commercial funds;
  • the takeover and restructure of all of the AMP listed property trusts; 
  • various joint venture arrangements in Australia and New Zealand for retail and commercial property;
  • the development of joint venture assets; and
  • in conjunction with our financial services and tax teams establishing offshore property funds in the United Kingdom and elsewhere in Europe. This required the investments to be structured using debt and equity instruments to deliver tax efficient returns to Australian superannuation and tax exempt investors.

Fran also recently led the Clayton Utz team in connection with the $2B restructure of AMP Capital's joint venture arrangements with the Westfield Group. This included advising AMP Capital in connection with various asset swaps, the revised management and development arrangements and the $864M equity capital raising from two foreign investors, Canadian Pension Plan Investment Board and Abu Dhabi Investment Authority.

Sovereign Wealth Fund: Fran is currently acting for an Asian sovereign wealth fund in connection with the establishment of an Australian fund and acting in connection with ongoing derivative transactions connected with it.

Transfield Holdings & Campus Living Group:
Fran acted in relation to its Australian and New Zealand projects. In her role she has worked with the Transfield Holdings and CLV teams in connection with the project development, construction and project financing and assisting the Transfield Holdings in relation to their equity investments in the projects. Francesca has been UK counsel for the group and was responsible for establishing the structure for the cross-border investment by the Campus Living Villages Fund and acquiring seed assets for the UK business.

See Structured Finance

Property Finance

NAB and ANZ: Fran regularly acts for National Australia Bank Limited and Australia and New Zealand Banking Group Limited in lending to listed and wholesale property trusts, restructuring those facilities and more generally in connection with property finance transactions where the bank took both senior and mezzanine financier roles.

AMP: Fran acted for AMP Capital Investors in the restructure of its statutory life insurance portfolios and the development of a number of unitised products to offer to

Australian institutional and retail investors. She has led the transaction teams for a number of projects, including:

  • the establishment and seeding of assets for AMP's direct wholesale retail and commercial funds;
  • the takeover and restructure of all of the AMP listed property trusts;
  • various joint venture arrangements in Australia and New Zealand for retail and commercial property;
  • the development of joint venture assets; and
  • in conjunction with our financial services and tax teams establishing offshore property funds in the United Kingdom and elsewhere in Europe. This required the investments to be structured using debt and equity instruments to deliver tax efficient returns to Australian superannuation and tax exempt investors.

Fran also recently led the Clayton Utz team in connection with the $2B restructure of AMP Capital's joint venture arrangements with the Westfield Group. This included advising AMP Capital in connection with various asset swaps, the revised management and development arrangements and the $864M equity capital raising from two foreign investors, Canadian Pension Plan Investment Board and Abu Dhabi Investment Authority.

Transfield Holdings & Campus Living Group: Fran acted in relation to its Australian and New Zealand projects. In her role she has worked with the Transfield Holdings and CLV teams in connection with the project development, construction and project financing and assisting the Transfield Holdings in relation to their equity investments in the projects. Francesca has been UK counsel for the group and was responsible for establishing the structure for the cross-border investment by the Campus Living Villages Fund and acquiring seed assets for the UK business.

See Property Finance

Asset Finance

ANZ and Bank of America: Fran has been acting for these banks since 2000 in connection with the leveraged lease and sale of a number of Boeing 767 aircraft on lease to an Australian operator.

Passenger and vehicular ferries and other logistics arrangements: Fran is currently acting for a financier providing funding in connection with a number of ferries and other vehicles used for a major resource project in Queensland. The financing is being provided for construction of the ferries both in Australia and offshore, with structured charter arrangements and put options to be exercised at the end of the finance term.
Asset, IT and Infrastructure Leasing Businesses: Fran acted for Macquarie Equipment Rentals in relation to a number of its asset leasing businesses in Australia (IT, infrastructure and aircraft engine fleet) and elsewhere.

See Asset Finance

Knowledge

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