Bridget King is a banking and finance lawyer based in Johannesburg.
Before joining the practice as a Candidate Attorney in 2004, Bridget King worked in Retail Foreign Exchange at one of the largest investment banks in South Africa. Bridget was appointed as a Director in April 2011. She obtained a BCom Law degree (ranked first) in 2001 and an LLB (Cum Laude) (ranked in the top three) in 2003. Bridget has been working in the highly regarded Banking and Finance division since July 2005. She completed her Registered Persons Exams (Equities) in 2007. In 2008 Bridget worked for 6 months in the Sydney office of a major Australian law firm in their banking and finance department.
Bridget’s areas of practice include financial services and markets regulation, banking and banking regulation, the regulation of stock exchanges and clearing houses, exchange control, the regulation of derivatives, contracts for differences, and other financial products.
Bridget is acting for Barclays Bank Plc in relation to the banking regulatory aspects of restructuring their African assets, involving the sale of Barclays’ interests in Botswana, Ghana, Kenya, Tanzania, Uganda, Zambia, Mauritius and Seychelles businesses to Absa Group in exchange for an increased shareholding in Absa Group together with the formation of an integrated African holding structure in keeping with Barclays’ One Bank in Africa strategy.
Bridget advises on derivatives, repo’s and stock lending and acts for ISDA Inc, HSBC Limited, Citibank, JPMorgan and other clients in respect of the enforceability of the ISDA Master Agreement and collateral arrangements in terms of the Credit Support Documents under South African law. She has also advised the Bond Market Association and the International Capital Markets Association and other institutions on the enforceability of the GMRA and GMSLA Master Agreements. Bridget assists corporate and banking clients with the negotiation and execution of GMSLAs, GMRAs and ISDA Master Agreements, Schedules and Credit Support Documents.
Bridget has negotiated and drafted hedging agreements for gold, coal, grain and other commodities for, among others, BNP Paribas, Deutsche Bank, Cargill Inc., Continental Coal and Investec Bank Limited. Bridget drafted and advised on the interest rate and forex hedging agreements for various sponsors, developers and lenders on 14 of the Department of Energy’s renewable energy projects.
Bridget advises local and offshore stock broking firms (and clearing members) of the JSE on the Securities Services Act and the Rules of the JSE Limited’s Equities Division, Derivatives Division and Interest Rate and Currency Division (previously the bond market). She frequently prepares advice and agreements for the custody and administration of securities under the Rules of the Central Securities Depository, Strate Limited. She also advises on the South African insider trading regime and shareholder disclosure rules.
Bridget assisted Barclays Bank Plc with the sale of their South African business to Absa Bank Limited (R578 million) as part of Barclays’ acquisition of a controlling interest in Absa Bank Limited in 2005 (R31 087 million). She continues to advise on the Banks Act requirements for registered banks to acquire offshore and local subsidiaries, establish branches and representative offices and for companies to acquire shares in banks and bank controlling companies.
In 2007 Bridget acted for borrowers and lenders with regards to drafting and advising on various credit facilities; a R500 million Revolving Credit Facility on behalf of Citibank N.A. South Africa Branch; a R1.6 billion Dual Tranche Facility for Anglo Platinum Limited and a R700 million Loan and Overnight Facility for Anglo Platinum Limited.
Whilst in Australia, Bridget assisted Deutsche Bank Australia in connection with facilities for Babcock and Brown and assisted in drafting the Facility Agreements, Prime Brokerage Agreements, ISDA Schedules and Master Netting Agreements. Bridget assisted ASX (Australian Securities Exchange) with indemnity agreements for services provided by ASX Operations Limited.
In 2009 Bridget acted for the consortium of international and local clients who won the tender to design and build the new electronic toll road for the Gauteng Freeway Improvement Project for SANRAL, and she drafted and advised on the Joint Venture and Co-Operations Agreements, the FIDIC Construction Contracts, the Subcontracts and Interface Agreements.
Bridget has worked extensively with the National Credit Act, and was involved in redrafting the retail banking credit agreements for Standard Bank and First National Bank. She worked with the Nedbank Capital Global Markets team and assisted with redrafting their agreements and documentation for compliance with the Consumer Protection Act and new Companies Act, 2008.
In respect of FATCA (the US Foreign Account Tax Compliance Act), Bridget has advised local banks on the legal and regulatory implications of implementing FATCA in South Africa in respect of US accountholders.
Bridget has presented numerous seminars and workshops on the 2008 Companies Act for various banks and other clients, and has written articles on Basel II, the National Credit Act and the Consumer Protection Act.
Her clients include major financial institutions (including foreign banks and institutions) who require advice and assistance with establishing a presence in South Africa, obtaining Financial Services Board registration in terms of the Financial Advisory and Intermediary Services Act and/or Banks Act registration.
Bridget has advised local and international fund managers on the regulatory, Collective Investment Schemes Control Act and Financial Advisory and Intermediary Services Act implications of doing business in South Africa.
Bridget holds a BCom Law degree and LLB (Cum Laude) and RPE (Equities).