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 advising:
- ING Bank N.V. as the documentation agent and the security agent of a US$1.125bn borrowing base facility for the Varo Energy Group
- KAZ Minerals PLC in connection with entry into an exclusive trading arrangement with Advaita Trade Private Limited for all of KAZ Minerals’ production of copper in concentrate
- a syndicate of banks on a US$950m borrowing base facility agreement between, among others, Greenergy Fuels Limited
- Intesa Sanpaolo S.p.A. as lender on a series of pre-export financings for Cetracore GmbHfor the purchase of crude oil supplied by Rosneft
- C.I. Prodeco S.A and Glencore International AG on the US$400m secured revolving pre-export finance facility agreement
- Bank of America Merill Lynch and Citibank N.A.,on the US$16.8bn loan facilities for Rosneft to finance its acquisition of BP's 50% shareholding in TNK-BP
- ING Bank N.V. as agent and security agent for a group of banks, on the €2bn restructuring of one of the world’s largest refinery businesses, The Petroplus Group
- Kazakhmys PLC in connection with numerous commodities backed transactions including a US$1.5bn loan facility from China Development Bank Corporation for the development of its major copper project at Aktogay
- Industrial and Commercial Bank of China (Asia) Limited in connection with a US$1.5bn financing for PDVSA
- the Glencore group on numerous trade commodities and receivable transactions for, including a recent US$1.215bn multicurrency committed bond facility
- the finance parties in connection with an up to US$2bn 3 year secured borrowing base revolving credit facility for Essar Oil (UK) Limited