Full-service support for your global ABL transactions
Whatever your ambitions, we can support you with every aspect of asset-based lending. From due diligence to work-outs, we know the issues that can come up and what to look out for. And we guide you throughout the process.
We’re a market-leading team of lawyers focused on asset-based lending and receivables financing. Offering a full service, we support you in domestic and cross-border transactions and work-outs. We prepare and negotiate facility and security documents for new facilities, and we advise on everything from refinancings to recovery proceedings.
Our lawyers advise a wide range of organizations, such as banks, finance houses, sponsors and corporates worldwide on their finance transactions. These include asset-based lending, receivables financing, supply chain finance, consignment and title finance, distribution and transit finance, and non-recourse structures. And our team includes lawyers from our finance, litigation and restructuring groups.
“Much of our work is international, and our global group of lawyers work with you as one team.”
We develop and draft many of the market’s standard facility and security documents. We do large, complex and multi-jurisdictional transactions and advise on market-specific financings and restructurings. We also help new entrants to the market with the legal advice they need to start their own asset-based lending operations.
Much of our work is international, and our global group of lawyers work with you as one team. We regularly act for lenders and borrowers on cross-border security arrangements. These involve all types of collateral in multiple jurisdictions.
- A developer and provider of mobile-personal emergency response systems and personal health management technologies in an amendment and upsize to their asset-backed credit facility with CIBC Bank.
- A Dutch-based lender initially on a review of its facilities and security in relation to a group of companies operating helicopters in the emergency services sector. Our work also included working alongside the financial advisers engaged by the lender to undertake contingency planning and thereafter to negotiate and complete a settlement agreement between the borrower group and the lender.
- A global leader in smart transportation as borrower in connection with an amendment of its USD75 million ABL credit agreement, which extended the maturity date by five years.
- A group of lenders on a multimillion-EUR cross-border asset-based financing provided to NCT Group, a global distribution & trading company in plastic raw materials.
- A private credit fund in connection with a new USD20 million asset-backed revolving credit facility they provided to a credit and payments platform for B2B e-commerce.
- A syndicate of asset-based financiers in respect of the on-going financing of Peninsula Petroleum by way of a USD400 million receivables finance facility; enabling the company to continue to develop its physical supply and reselling operations globally, investing across the marine fuels value chain.
- A syndicate of banks on the amendment and restatement of a receivables finance facilities agreement to increase the total commitments to GBP300 million and introduce a new funding channel in respect of stock previously funded by third parties.
- A three-bank syndicate with regards to the provision of a GBP100 million asset-based financing facilities agreement in favor of the Thomas Plant Hire group of companies, generating general corporate and working capital for the business in the UK.
- Acted as Irish counsel for a leading UK bank in relation to the provision of a GBP180 million multi-currency asset-based lending facility for a leading equipment hire provider with a material Irish subsidiary.
- An oil and gas wells technical products and services company in a revolving credit, term loan, equipment loan and security agreement with PNC Bank NA, as administrative agent for the lenders.
- Aurelius Investments Limited in relation to the multimillion-GBP ABL financing of its acquisition of McKesson UK in a corporate carve-out from US healthcare company McKesson Corporation.
- British Steel on a GBP50 million receivables finance facility provided by Secure Trust Bank, generating working capital for the business following its acquisition by Chinese conglomerate Jingye Group.
- Royal A-ware Food Group on the ESG-linked EUR400 million asset-based and corporate financing provided by ABN AMRO Bank, Rabobank, ING Bank and KBC Bank.