Year in Review 2021: Banking and Finance

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2021 has been an incredibly busy year for SVW's banking and financing team. Our team of more than twenty-five specialised banking and financing lawyers have assisted borrowers, lenders and sponsors with numerous new financings, across most sectors.

We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team.

We have assisted our clients with a considerable number of new financings and refinancings, across most sectors.  It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing.

On the regulatory side, the LIBOR transition has had a particular focus which clearly will continue in 2022.

Further, the new Norwegian Act on Financial Contracts and Financial Assignments is expected to come into force first half of 2022, and we are already advising our clients on how to adapt to this new regulatory framework.

Other hot topics in 2021 have been ESG, taxonomy and sustainable financing. The development we have seen within ESG in 2021 will continue in 2022 and its relevance will continuously increase. Should you be curious about the taxonomy, you may also check out our new taxonomy application.

By the end of 2021, the pandemic has once again escalated, and it is evident that it will continue to affect us also in 2022. We are now looking forward to some quiet days off and are hoping that it soon will be safe to lift the new restrictions. The last years have, however, evidenced the adaptability of the financial market and we therefore remain positive for yet another busy year in 2022.

We would like to thank all our clients and counterparties for the good cooperation during 2021.