Michael Bailey

Senior Associate

Michael Bailey is a Senior Associate in our Banking, Finance & Projects practice. He is part of the team that advises on most areas of finance (debt and equity), projects finance, corporate finance, private equity transactions, corporate and commercial law.

Michael Bailey

About Michael

Michael began his career as a Candidate Attorney at Cliffe Dekker Hofmeyr in 2021. He was appointed as an Associate in 2022. Prior to joining Cliffe Dekker Hofmeyr, he worked in-house at a commodity brokerage. 

Michael was promoted to Senior Associate in April 2025.

Areas of expertise

Experience

  • Advising major lending institutions and borrowers on equity funding (including preference share funding), project finance and debt finance.

  • Drafting and reviewing various finance documents including facility agreements and the appropriate security documents.

  • Conducting due diligence investigations and drafting due diligence reports.

  • Public Investment Corporation SOC Limited in relation to the subscription of shares in the Africa Finance Corporation amounting to ZAR 1,7 billion.

  • Old Mutual Limited on an amendment and restatement facilities agreement to purchase additional residential properties for a deal value of R500 million.

  • Grindrod Bank Limited in relation to: two facility agreements to finance a rooftop solar system at a commercial building; and funding to FEC Prop Proprietary Limited to purchase listed shares for a deal value of R129 million.

  • Grand Casino Investments Proprietary Limited on the subscription of preference shares in the amount of R100 million.

  • Development Bank of Southern Africa on its facility funding to a state-owned enterprise for a deal value of R500 million.

     

  • Taquanta Asset Managers Proprietary Limited on its financing for the purchase of a 49% undivided share in a shopping mall valued at R242 million.

     

  • Futuregrowth Asset Management Proprietary Limited on its term loan facility to a listed property developer valued at R272 million.

     

  • Food Lovers Holdings on its extension of its revolving credit facility for a deal value of R600 million.

     

  • Aleyo Growth Fund 1 Partnership on its subscription of debentures for a deal value of BWP100 million.

  • Vukile Property Fund Limited on its vendor loan finance for a deal value of R24 million.

Recognition

  • The Legal 500 EMEA 2024 - 2025 recommended Michael in banking and finance.
  • IFLR1000 2025 recognised Michael as a 'rising star' in Banking and Finance.

Credentials

Education

  • Registered with the Legal Practice Council
  • BA, University of Cape Town
  • LLB, University of Cape Town
  • LLM, University of Cape Town (with the coursework undertaken at Queen's University, Canada)
  • Year of admission as an attorney: 2022

LANGUAGES

  • English

News

Out with the old, in with the new: transitioning from JIBAR to ZARONIA
Banking, Finance & Projects

Out with the old, in with the new: transitioning from JIBAR to ZARONIA

The Johannesburg Interbank Average Rate (JIBAR) will be replaced by a new benchmark rate, the South African Rand Overnight Index Average (ZARONIA). While no formal announcement has...

Does providing security to a lender amount to a disposal in terms of section 112 of the Companies Act?
Banking, Finance & Projects

Does providing security to a lender amount to a disposal in terms of section 112 of the Companies Act?

In terms of section 112 of the Companies Act No. 71 of 2008 (Companies Act), the disposal of the whole or a greater part of a company’s assets or undertaking must be approved by a...

Rooftop solar: Energy bounce back loan guarantee scheme
Banking, Finance & Projects

Rooftop solar: Energy bounce back loan guarantee scheme

Professor Anton Eberhard estimates that as of June 2023, households and businesses have installed 4,412 MWs of rooftop solar. Not only is this double the capacity of Eskom under its...

The application of the in duplum rule to post-judgment interest: The SCA clarifies the legal position
Banking, Finance & Projects

The application of the in duplum rule to post-judgment interest: The SCA clarifies the legal position

The in duplum rule will not come to your rescue if you fail to make post-judgment interest after arrear interest ceases to accrue when the unpaid arrear interest equals the principal...

Securing funding for the installation of rooftop solar for commercial enterprises
Banking, Finance & Projects

Securing funding for the installation of rooftop solar for commercial enterprises

It is estimated that stage 6 loadshedding is costing the economy as much as R900 million per day. Many businesses are looking to self-generate power through the installation of rooftop...

Climate change, keeping construction evergreen in the race to net zero
Construction & Engineering

Climate change, keeping construction evergreen in the race to net zero

In this series, CDH’s Construction & Engineering experts address key issues facing the South African construction industry and provide insights into its future. Part 2 reviews the...

Building Information Modelling:  The future is here, and it’s #digital
Construction & Engineering

Building Information Modelling: The future is here, and it’s #digital

In this series, CDH’s Construction & Engineering experts will address key issues facing the South African construction industry and provide insights into its future. Part 1 looks at...

Violence and harassment in the workplace: Employers’ duty bound to expand protection of victims
Employment Law

Violence and harassment in the workplace: Employers’ duty bound to expand protection of victims

This alert expands on a previous alert in which CDH explores the International Labour Conference’s (ILO), new Convention and Recommendation titled the “ Convention Concerning the Elimination...

Extended COVID-19 Employer/Employee Relief Scheme (TERS) Benefits Update
Employment Law

Extended COVID-19 Employer/Employee Relief Scheme (TERS) Benefits Update

On 20 April 2021, the Minister of Employment and Labour, Thembelani Nxesi, published a further Direction Providing COVID-19 TERS Benefits for Certain Categories of Employees (Updated...

Brandishing dangerous weapons during strike action and proving employees’ awareness of the rule prohibiting this conduct
Employment Law

Brandishing dangerous weapons during strike action and proving employees’ awareness of the rule prohibiting this conduct

In the recent case of Pailpac (Pty) Ltd v De Beer N.O and Others (DA 12/2018) ZALAC 3 (1 March 2021), the Labour Appeal Court (LAC) was tasked with assessing this scenario. In July...

Out with the old, in with the new: transitioning from JIBAR to ZARONIA
Banking, Finance & Projects

Out with the old, in with the new: transitioning from JIBAR to ZARONIA

The Johannesburg Interbank Average Rate (JIBAR) will be replaced by a new benchmark rate, the South African Rand Overnight Index Average (ZARONIA). While no formal announcement has...

Does providing security to a lender amount to a disposal in terms of section 112 of the Companies Act?
Banking, Finance & Projects

Does providing security to a lender amount to a disposal in terms of section 112 of the Companies Act?

In terms of section 112 of the Companies Act No. 71 of 2008 (Companies Act), the disposal of the whole or a greater part of a company’s assets or undertaking must be approved by a...

Rooftop solar: Energy bounce back loan guarantee scheme
Banking, Finance & Projects

Rooftop solar: Energy bounce back loan guarantee scheme

Professor Anton Eberhard estimates that as of June 2023, households and businesses have installed 4,412 MWs of rooftop solar. Not only is this double the capacity of Eskom under its...

The application of the in duplum rule to post-judgment interest: The SCA clarifies the legal position
Banking, Finance & Projects

The application of the in duplum rule to post-judgment interest: The SCA clarifies the legal position

The in duplum rule will not come to your rescue if you fail to make post-judgment interest after arrear interest ceases to accrue when the unpaid arrear interest equals the principal...

Securing funding for the installation of rooftop solar for commercial enterprises
Banking, Finance & Projects

Securing funding for the installation of rooftop solar for commercial enterprises

It is estimated that stage 6 loadshedding is costing the economy as much as R900 million per day. Many businesses are looking to self-generate power through the installation of rooftop...

Climate change, keeping construction evergreen in the race to net zero
Construction & Engineering

Climate change, keeping construction evergreen in the race to net zero

In this series, CDH’s Construction & Engineering experts address key issues facing the South African construction industry and provide insights into its future. Part 2 reviews the...

Building Information Modelling:  The future is here, and it’s #digital
Construction & Engineering

Building Information Modelling: The future is here, and it’s #digital

In this series, CDH’s Construction & Engineering experts will address key issues facing the South African construction industry and provide insights into its future. Part 1 looks at...

Violence and harassment in the workplace: Employers’ duty bound to expand protection of victims
Employment Law

Violence and harassment in the workplace: Employers’ duty bound to expand protection of victims

This alert expands on a previous alert in which CDH explores the International Labour Conference’s (ILO), new Convention and Recommendation titled the “ Convention Concerning the Elimination...

Extended COVID-19 Employer/Employee Relief Scheme (TERS) Benefits Update
Employment Law

Extended COVID-19 Employer/Employee Relief Scheme (TERS) Benefits Update

On 20 April 2021, the Minister of Employment and Labour, Thembelani Nxesi, published a further Direction Providing COVID-19 TERS Benefits for Certain Categories of Employees (Updated...

Brandishing dangerous weapons during strike action and proving employees’ awareness of the rule prohibiting this conduct
Employment Law

Brandishing dangerous weapons during strike action and proving employees’ awareness of the rule prohibiting this conduct

In the recent case of Pailpac (Pty) Ltd v De Beer N.O and Others (DA 12/2018) ZALAC 3 (1 March 2021), the Labour Appeal Court (LAC) was tasked with assessing this scenario. In July...

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