Asset based lending

DLA Piper

Offering product experts in London as well as in key regional cities including Leeds and Manchester, DLA Piper provides a 'very proactive service' to a varied mix of banks, credit funds, sponsors and corporates, both at the front end and in a restructuring context. Co-heads Sarah Day and Joseph Frew have deep industry knowledge which comes into play in advising on relatively commoditised mandates and more bespoke structures, as well as product development for lenders. Clients also benefit from access to a number of adept restructuring lawyers, including Neil Riley and Birmingham-based Stephen Bottley, who are well-versed in refinancing and restructuring ABL facilities on both the creditor and debtor front. Alastair Carruthers is also recommended.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

'They provide a very proactive service.'
'Sarah Day – took control when required to provide security counsel to a syndicate of lenders.'
'Rachel Holt provides very timely updates.'

Key clients

ABN Amro Commercial Finance
Aldermore Invoice Finance
BNP Paribas Commercial Finance
Payoneer
Close Invoice Finance
ING Wholesale Banking
Deutsche Bank
AIG Europe S.A.
Shawbrook Bank Business Credit
ING Commercial Finance
Bibby Financial Services
Coöperatieve Rabobank U.A., "Rabobank"
Almastone
Secure Trust Bank

Work highlights

Advising Close Brothers and Leumi ABL on £90m of asset-based lending (receivables and inventory) facilities to Endless-backed EVO Business Supplies.
Advising Secure Trust Bank on its ABL facility to Batt Cables, alongside funding from BZ Commercial Finance.
Acted for INEOS Automotive on the provision of its very first asset-based lending facilities, comprising of €100m with an innovative structure to obtain funding against vehicles located in various jurisdictions around the world.