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Banking and finance

Structured trade and commodity finance

‘A dedicated trade and commodity finance team gives the firm a genuine profile in international trade financings, while it can also offer experience in metals, minerals, oil, gas and coal.’
Chambers UK, 2013

We have a pre-eminent reputation for advising on commodity and trade finance transactions worldwide, and in particular in emerging markets. Our team is based in offices across Europe, Asia, Australia, Canada, Africa, the Middle East and Latin America. We advise financial institutions, commodity producers, traders, blue-chip corporates, ECAs and other multilateral institutions, all of whom rely on our thorough understanding of financing issues and legal frameworks around the world.

The practice is complemented by our strengths in mining, shipping and transportation, derivatives and project finance, and uniquely enables us to offer you a complete service package within one legal practice.

Our areas of work include:

Barter and counter-trade
Borrowing base financings
Derivatives
Post-import financing
Pre-export financing
Pre-payment financing
Pre-production financing
Receivables purchase and factoring transactions
Reserve based lending
Stock and inventory financing and ownership structures
Synthetic securitisation
Tolling and processing

Our recent work:

Advising Rosneft on a US$10b pre-payment from Glencore and Vitol.
Advising Crédit Agricole on a US$250m pre-export finance facility provided to VSMPO.
Advising The Standard Bank of South Africa on £102.5m multi-jurisdictional multi-product borrowing base facility.
Advising Royal Bank of Scotland on the oil inventory financing of the $383m purchase of mandatory oil stocks from Polish oil refiner PKN Orlen.