Linklaters advises Ferovinum on the world’s first asset-backed securitisation of wine and spirits

Linklaters has advised Ferovinum, the funding and supply chain platform for drinks businesses, on the world’s first asset-backed securitisation of wine and spirits.

Ferovinum has secured a $550m asset-backed securitisation programme from private credit investors and commercial banks.

Ferovinum specialises in providing funding to both brands and the drinks trade, helping them solve critical working capital problems unique to the industry that can often constrain growth.

The new facility enables Ferovinum to expand and enhance its existing UK service offerings to businesses in the United States and European Union, as well as Australia later this year.

The underpin for the asset-backed securitisation is a multi-jurisdictional trust structure which enables access to the inventory and the financial receivables and is portable as Ferovinum expands to other countries.

Sebastian Witte commented:

"It has been a privilege to put in place this financing platform with Ferovinum, which will be a key part of their growth story. We're proud to have delivered a novel cross-jurisdictional legal structure tailored to the needs of our client and their investors."

Co-founder and Chief Financial Officer at Ferovinum, Dan Gibney, said:

"We were truly impressed with the Linklaters team's expertise, drive and commitment to helping us pioneer the first securitisation of its kind for this asset class. We look forward to using our new program to deliver real value for our global client base and our capital markets partners."

The Linklaters team was led by Structured Finance partner Tom Quoroll and managing associate Sebastian Witte, and Corporate partner Chris Staples.