Members of our team are active participants in the Secured Finance Network, the Asset-Based Finance Association and other similar bodies.
We have particular experience with respect to:
- Borrowing base evaluations and structuring
- Fraudulent conveyance/financial assistance risk mitigation
- Complex intercreditor arrangements, including split collateral pools and multi-lien structures
- Collateral trust and sales agency structures
- Debtor-in-possession, post-petition financings, secured party sales and alternate exit mechanisms
- a leading US financial institution, as administrative agent, in an asset based lending credit facility made available to a global technology systems provider as the borrower.
- a leading US financial Institution in relation to a secured US$750 million cross-border asset-based lending facility to members of the Erwin Hymer Group in the US, Canada, Germany and the UK. The facility is part of a circa US$2.7 billion capital structure being advanced to facilitate the acquisition of the Erwin Hymer Group by Thor Industries.
- a leading US financial institution in its role as agent in a US$45 million asset based revolving credit facility for a US manufacturer of fabricated wood millwork as the borrower.
- a leading US financial institution, as administrative agent, in a $250,000,000 syndicated revolving credit facility for a leading US retailer. and various of its subsidiaries in the UK, France, Germany, Hong Kong and Switzerland.
- a leading US Financial Institution in a $135 million syndicated asset based lending facility provided to certain members of a vertically integrated US textile group in the US, Canada and France.
- a leading global financial institution headquartered in London as sole coordinator, mandated lead arranger, facility agent and security agent, and a leading US global financial institution as mandated lead arranger, in respect of a KRW 150 billion revolving loan facility to Coupang Corp. as borrower and guaranteed by its US parent. Mayer Brown helped the sole coordinator put in place an asset-based lending structure backed by a dynamic pool of eligible inventory of Coupang located across South Korea in various fulfilment centers, together with credit support in respect of payment gateway cash flows. The deal, which forms part of a series of pre-IPO financing transactions for Coupang, marks the successful completion of the bank’s inaugural asset-based lending transaction in Asia.
- Young's Seafood Limited in relation to a £35 million asset based finance facility (receivables and inventory) provided by RBS Invoice Finance Limited, together with certain ancillary facilities provided by National Westminster Bank plc.
- Stemcor Group, a steel trader and distributor company on the refinance of its $960 million debt facilities. In the refinance, a $100 million term loan facility was repaid via a capital raise from existing lenders, a $400 million borrowing base facility was partly repaid and restructured into a €200 million European borrowing base facility, and a $460 million trade finance facility was converted into bilateral uncommitted trade finance facilities from existing and new lenders. The new European borrowing base facility is secured against assets in 14 jurisdictions.
- Swift Worldwide Resources and Air Energi, as borrowers, and Wellspring Capital Management LLC as sponsor in connection with the refinancing of US$305 million term debt and receivables financing facilities comprising a syndicated UK receivable finance facility, a US revolving receivables facility, a syndicated US term loan facility, a Korean receivables facility and local working capital facilities in Australia, Canada, Indonesia, Malaysia, Singapore and Papua New Guinea.
- Office Depot group in the United States, United Kingdom, Holland, Ireland and Luxembourg on US$1.5 billion syndicated asset-based lending facilities led by a leading global financial institution.
- A global integrated metals company in relation to a US$1 billion inventory-based ABL revolving syndicated credit facility led by a leading global bank.
Tier 1 in Asset-based Lending (2015-20)
"Very technical and knowledgeable team excels in handling highly structured big-ticket multi-jurisdictional asset based lending (ABL) mandates for funds, banks, sponsors and corporates."
"Its expertise on complex deals mirrors the growing sophistication of the ABL product in the European market, which is increasingly being used in the context of large syndicated facilities, as well as forming a part of the debt package to fund M&A transactions."
"Demonstrates prowess handling acquisition financings and on deals in the asset-based lending space."