Asset Based Lending
With traditional bank lending difficult to come by, asset based lending and receivables financing has become an attractive alternative for many businesses in need of finance. This is particularly so for businesses which have capital tied up in tangible assets such as property, equipment and inventory; as well as for those which have receivables due from financially strong debtors.
Our banking & finance lawyers have significant experience in acting for both lenders & borrowers in relation to a variety of asset based lending transactions, ranging from small domestic invoice discounting and factoring arrangements through to large scale inventory and equipment financing and cross-border transactions. We also advise clients on a wide range of asset finance and leasing matters (including off balance sheet financing).
Whether you are borrower seeking to establish a working capital, growth or trade finance facility or a lender wishing to advance finance against assets, we will be able to provide a specialised yet cost effective service to you.
Our ABL client base includes overseas and domestic banks, trade finance providers, bridging lenders and corporates.
Representative Asset Based Lending Work
Examples of our team’s asset based lending work include:
- Advised a finance provider in connection with a £100m receivables finance facility obtained from Macquarie Bank.
- Advised a borrower purchasing raw materials from Eastern Europe in connection with a substantial loan facility from a major European Bank secured against future debt receivables.
- Advised a lender in connection with a substantial loan to a football club secured against future season ticket sales.
Phil BerryPartner Banking and Finance
Phil joined Teacher Stern as a trainee in 1980 and is head of the Legal 500 ranked real estate finance team. He is an expert in real estate finance with heavyweight experience in acting for a spectrum of lenders and borrowers.
He is very well regarded by his clients for providing sound commercial advice as well as having the technical knowhow. Clients have commented that he is “business orientated and pragmatic”. Phil is very proactive in driving deals towards closing and identifying complex issues, which have the potential to delay or even break the deal, at an early stage and finding solutions to overcome them.
An expert in property finance, Phil acts for banks and building societies on commercial property matters and both advises on, and drafts, security documentation.
- £430 million acquisition of a mixture of offshore and onshore companies owning 180 Shell petrol stations
- £101 million sale of a City building via JPUT
- Refinancing of shops and offices in Kensington, London to the value of £97 million
- £37 million acquisition of an industrial portfolio via four JPUTs
- Purchase of 42 snooker clubs via JPUT, worth £30 million