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Rachel Campbell

Rachel Campbell


Rachel advises on structured trade and commodity finance, project and export finance as well as general corporate and acquisition finance.



Rachel has over 15 years of experience advising on international and emerging market transactions, ranging from structured trade and commodity finance, project and export finance as well as general corporate and acquisition finance. 

Both English and French law qualified, Rachel acts for banks and trading houses, ECAs as well as sponsors and project developers.

Rachel has developed a client-oriented expertise in energy and commodities, renewable energy, infrastructure and mining.

She is ranked by IFLR1000 2018 as a Rising Star in Banking and Project Finance as well as in the Energy industry. She is recognised by Legal 500 EMEA 2018 – Banking & Finance (France) for her expertise in English law and strong regional focus on Africa.

Rachel's experience includes advising:

  • TOTAL Oil Trading SA (TOTSA), ABN Amro, CA Indosuez and Rabobank as lenders on a USD 400 million crude oil commercial prepayment in favour of Gazprom Neft
  • BNP Paribas (Switzerland)  S.A. and a group of eight international banks in relation to a proposed USD 300 million syndicated partly committed secured borrowing base facility for Sucafina, a Geneva-based coffee commodity trader (TXF overall commodity deal of the year 2018)
  • The Mauritius Commercial Bank on a fully secured USD 100 million pre-export financing agreement in favour of Erin Petroleum Nigeria Limited, a Nigeria-based subsidiary of Houston-based dual-listed company Erin Energy Corporation, including intercreditor arrangements with Zenith Bank and the subsequent restructuring of the facility 
  • BNP Paribas as original lender, agent and security agent in relation to a USD 40 million borrowing base facility agreement for Traxys SARL and Traxys Cometals Europe S.à.r.L to finance prepayment advances made by Traxus Cometals, the buyer, to a Vietnamese company, the exporter, in relation of the purchase under an export contract of Fluorspar concentrate 
  • EDF, International Finance Corporation and Government of Cameroon on the development of a 420MW hydroelectric power plant at Nachtigal in Cameroon
  • BNP Paribas Fortis and Swedish Export Kredit (SEK) in relation to the arrangement of 4 export credit facilities (EKN backed) to finance 4 commercial contracts (entered into between the Angolan Ministry of Transport and Angloauto and Auto Sueco (the local importers of Scania and Volvo - who will have opened confirmed LCs in favour of their suppliers Scania and Volvo Bresil)
  • Solvay Participations Belgique, Marubeni Europe plc. on the creation of a joint-venture alongside with Ansaldo Energia, Cogeneration Rosignano S.p.A., to finance and operate a long-term energy efficiency project based on the combined supply of heat and electricity in the Solvay's chemical plant in Rosignano, province of Livorno, Italy
  • Crédit Agricole CIB and Unicredit in relation to a EUR 412 million COFACE backed credit facility for a subsidiary of SIBUR Holding
  • BNP Paribas (Switzerland) S.A. and a group of seven banks including Natixis on a 1 year USD 120 million committed working capital and overdraft facility for Cocoa Touton Processing Company Ghana Ltd. secured by goods and receivables to finance the prepayment, storage, processing, hedging and transportation of Ghana cocoa beans (including several sublimits and CAD mechanics) and subsequent refinancings
  • Natixis and the mandated lead arrangers on a USD 522 million prepayment facility agreement in favour of Glencore Energy UK in respect of a prepayment contract with SNPC
  • Natixis and ING in respect of an up to USD 50 million borrowing base facility granted to CDF Trading NV and Hail & Cotton International BV and secured by multiple obligors in Brazil, Colombia, Netherlands, Indonesia and the Dominican Republic
  • Société Générale, UBS, Natixis, BNP Paribas and SCB on an up to USD 410 million borrowing base facility granted to Addax Energy SA, secured by Obligors located in Switzerland and Malta with third party guarantors in various African jurisdictions
  • BNP Paribas on a facility for Erdemir covered by COFACE (now Bpifrance) and a commercial facility for the same borrower
  • Mitsui & Co., Ltd. on asset swaps between Mitsui and Vale in respect of various infrastructure and mining assets in Australia and Mozambique



Rachel joined Herbert Smith Freehills in Paris in May 2014 from Allen & Overy. She has worked in London, Amsterdam and Paris. Rachel was seconded to the energy and commodities, export and projects legal team of a French bank from 2008-2009.

Rachel is an ESSEC MBA graduate and holds a Bachelors of Law and French from Trinity College Dublin and a Master's in business law from Paris I Pantheon-Sorbonne.