Vinson & Elkins is a market leader in advising on all aspects of asset-based lending (ABL). We represent a diverse group of arrangers, agent banks, non-bank lenders, and borrowers in ABL transactions. Among our lead arranger clients are industry leaders, including the three largest lead arrangers by market share in 2014. Our borrower clients include both public and private companies, and are frequently portfolio companies of private equity firms.
Experience & Deep Capability
Our ABL Finance team has in-depth knowledge and experience
across industries and a broad range of assets, which gives us insights into the
sector-specific challenges faced by lenders and borrowers. While many firms
only focus on traditional ABL transactions in the manufacturing, distribution, and retail
spaces, V&E also regularly handles ABL transactions in the energy and
energy services sectors and in nontraditional ABL industries, such as
contracting, engineering, logistics, and staffing.
We are experienced in all
phases of ABL transactions, from structuring, documentation, and negotiation through
refinancings, restructurings, and bankruptcies. We advise in the context of the
borrower’s broader capital or debt structure, considering complex intercreditor issues and associated risks. Having handled ABL
deals ranging from $10 million to $1.25 billion, our lawyers know the product types, are adept at
devising innovative structuring techniques, and have the flexibility to meet either lender or borrower needs.
We work with V&E lawyers in other practice areas, such as our Tax, ERISA, and Environmental groups, when relevant to the finance documentation.
Our Restructuring & Reorganization lawyers partner with us to resolve
troubled loans, represent clients in bankruptcy proceedings, and manage
A Global Leader
Our Finance lawyers work on ABL transactions across the U.S. and, in
conjunction with our foreign offices and local counsel, throughout the world. We
have handled ABL transactions involving
borrowing base collateral in Australia, Belgium, Canada, Germany, the
Netherlands, New Zealand, Norway, Singapore, the UK, and the UAE. In such cases, our
team works closely with local counsel to assure that deals comply with local
laws and regulatory restrictions. In fact, we advised on and structured some of
the biggest and most complex financings provided to multinational, U.S.-based
companies operating on a global basis. Often, we have been able to secure a
single credit facility for borrower operations in multiple countries, thereby
streamlining and simplifying finance arrangements.