Asset based lending

Norton Rose Fulbright

Leveraging extensive resources across its global network, Norton Rose Fulbright is particularly well-positioned to advise lenders on large cross-border ABL financings. Key to the firm’s success in the area is the work of ‘incredibly creative’ team head Michael Black, who has cultivated robust and long-lasting relationships with heavyweight US lenders, regularly acting for them on complex transatlantic deals where the ABL product sits alongside conventional bank lending and/or debt capital markets products. Notably, the firm has also picked up a growing number of borrower instructions as well as work for alternative capital providers. Alex Dunn and Helen Masri are also recommended.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

‘A highly experienced team for domestic and cross-border ABL. They know the obstacles to doing deals in their space, they get things done practically and they also know how to handle matters when trading performance doesn't go to plan.’
'They are very knowledgeable in every single jurisdiction we look to structure a deal in and to the extent there is an uncommon jurisdiction we are working with, they are quick to liaise with local counsel and get us the answers we need.'
'They are efficient, fantastic at communicating issues early and often and provide creative solutions.'
'Michael Black is incredibly creative at structuring deals that work for both the financing parties and the borrowers. He also has incredible market insight.'

Key clients

JPMorgan Chase Bank
Wells Fargo
Bantry Bay
Aurelius
Bank of America
Citibank
Comvest Credit Partners

Work highlights

Advised Citibank and Bank of America in relation to a series of large financings for Tenneco Inc., a Delaware corporation, which is controlled by investment funds, advised, managed or controlled by Apollo Global Management, Inc. The financings totalled $5.65bn debt, including a $1.2bn ABL facility.
Advised JP Morgan Chase on its $100m ABL facility to the North ActionSports Group, the adventure sports group, for its continued expansion.
Advised Citibank in relation to its ABL acquisition finance facilities to an affiliate of Lone Start Funds to fund the acquisition of Carlisle Fluid Technologies.