Herbert Smith and Freshfields Bruckhaus Deringer have snared the lead advisory roles on the £300m rights issue by UK lender Bradford & Bingley (B&B).

Herbert Smith is advising B&B, with the top 10 City outfit fielding a team under corporate chief Michael Walter and fellow corporate partners Adam Levitt and Will Pearce. Also advising are tax partner Derek Hill, employment partner Paul Ellerman and US securities partner Adam Wells.