Structured trade finance transactions demand a combination of legal expertise and commercial awareness across a wide range of demanding jurisdictions.
The trade finance industry as a whole is becoming more integrated and geographically linked, which plays to our strengths as a global, cross-practice commodities and financing group. Our team has structured trade and export finance experience in virtually every market in the world, allowing us to deliver a complete service on cross-border transactions for our clients. Ranked in the top tier in the Emerging Markets, we are recognised as a firm of choice across the region with offices in Abu Dhabi, Dubai, Moscow and Warsaw and specialist teams covering: Africa, CIS, CEE, Middle East and Turkey.
Our structured trade finance specialists are part of Linklaters’ dedicated global commodities group which gives them an in-depth knowledge and understanding of the commodities and the commodities markets in which our clients operate. We believe this is fundamental to providing value-added legal advice on any commodities transaction and is combined with our team’s specialist knowledge of cutting-edge financing techniques.
Our team advises on a wide variety of innovative, highly structured transactions, ranging from receivables-backed financings, export and multilateral credits to commodity-based financings. In recent months we have advised on a wide range of commodity-based financings with particular emphasis on advising clients in the distressed environment.
Recent experience includes:
- C.I. Prodeco S.A and Glencore International AG on the US$400m secured revolving pre-export finance facility agreement (2013)
- Bank of America Merill Lynch and Citibank N.A., London Branch on the US$16.8bn loan facilities for Rosneft to finance its acquisition of BP's 50% shareholding in TNK-BP
- Advising ING Bank N.V. as agent and security agent for a group of banks, on the EUR 2bn restructuring of one of the world’s largest refinery businesses, The Petroplus Group (2012)
- Advised Kazakhmys PLC in connection with numerous commodities backed transactions including a USD 1.5bn loan facility from China Development Bank Corporation for the development of its major copper project at Aktogay (2012)
- Advised Industrial and Commercial Bank of China (Asia) Limited in connection with a USD 1.5bn financing for PDVSA, the national oil company in Venezuela, backed by oil export to China Oil (2012)
- Advised on numerous trade commodities and receivable transactions for the Glencore group, including a recent USD 1.215bn multicurrency committed bond facility (2011-2012)
- Acted for the finance parties in connection with an up to USD 2bn 3 year secured borrowing base revolving credit facility for Essar Oil (UK) Limited (2011)
- Advised BNP Paribas Suisse on the first Master Risk Participation Agreement under IFC’s Global Warehouse Finance Program to finance soft commodities in Africa (2011)
- Advised Essar Oil (UK) Limited in connection with crude oil and product inventory and supply arrangements and a separate receivables financing with Barclays Bank (2011)
- Advised The Royal Bank of Scotland plc on their portfolio of standard form trade finance documents (2011)
- Advised UniCredit Bank and other European banks on a club pre-export financing for Mechel Trading AG, secured by the sale proceeds of the Mechel Group's steel activities in Russia (2011)
- Advised Banco de Crédito del Perú as borrower in connection with a credit facility for made available by China Development Bank Corporation (2011)
- Advised the initial co-ordinating mandated lead arrangers, co-ordinating structured rate providers and agent and security trustee on a secured USD 1.5bn syndicated pre-export finance facility to OJSC MMC Norilsk Nickel, the world’s largest producer of nickel and palladium (2011)
- Advised BP plc on the multi award-winning up to USD 5.25bn pre-export finance facilities for BP Angola and BP Caspian (2010)
In 2011, we advised on eight deals named, EMEA Deals of the Year by Trade Finance Magazine.