Trade and commodity finance is a dynamic, high-stakes environment where market shifts and regulatory demands create constant challenges.
Clients face complex cross-border transactions, evolving risk profiles, and the need to secure reliable finance in fast-changing conditions.
Whether navigating complex trade finance structures, managing exposure in volatile markets, or executing cutting-edge trade receivables transactions, clients need clear, commercially focused guidance. They require a partner who understands both the physical and financial aspects of trade, and who can anticipate issues before they arise.
We support banks, development banks, export credit agencies, traders, importers, exporters, fintechs and other market participants worldwide. Our team brings together deep sector knowledge across a wide array of products and structures, including letters of credit, guarantees, documentary collections, confirmations, invoice financings, forfaitings, trade refinancings, funded and unfunded risk participations, and structured trade facilities such as prepayments, inventory financings, import and export factorings, receivable financings, payable financings and structured letters of credit, and related matters such as physical and derivatives contracts, sanctions, credit insurance, shipping, regulatory matters, and dispute resolution. By working collaboratively across offices and disciplines, we deliver practical solutions tailored to each client’s commercial objectives, no matter how complex or international the mandate.
Clients choose us for our proven ability to simplify complexity and deliver results. Our holistic approach, combined with a strong track record in commodities and trade finance, ensures clients achieve their goals with confidence.
Our Services
Advising lenders and borrowers on national and cross-border trade and commodity finance.
- Advising a multinational energy corporation in a prepayment structure in connection with a gasoline offtake contract.
- Advising various oil traders in banks' participation arrangements in the non-payment risk of their buyers and payment undertaking arrangements from such banks.
- Assisting with documenting and negotiating a bespoke receivables purchase structure for purchasing receivables arising from the sale and purchase of crude oil on an undisclosed basis.
- Assisting in establishing a CNY2.9 billion term loan facility to a Kazakhstan oil company to support PRC-Kazakhstan cooperation under the Belt and Road Initiative, as supported by funded risk participation arrangements.
- Designing the procedural guidelines for a PRC-based commodity trader on trading under letters of credit in general and back-to-back letters of credit structures with respect to UCP 600 and advised on red flags and commonly seen scenarios which may trigger money laundering, sanctions and fraud concerns.
- Advising a global vehicle manufacturer in its trade financing structures involving supplier credits and ECA arrangements, retention of title and security arrangements and other relevant legal and regulatory issues.
- Advising on a US$150 million structured letter of credit facility to a Singapore trader.
- Assisting in restructuring a bank's documentary credit facilities and security package for a multinational company under the French reconciliation procedure, involving Hong Kong law trust receipt and repayment arrangements and also French law and URDG-governed demand guarantees and receivable assignments of receivables.
- Advised on a bank's forfaiting arrangements with various other banks and back-to-back risk distribution to their customers.
- Advising a trading house on the drafting of template pre-payment and inventory financing documentation for cocoa and coffee.
- Advising a bank on its precedent documents for a range of structured inventory products.
- Advising a bank on inventory financing structures for various products including nickel concentrates, cocoa, powdered milk and marine fuel.
- Advising a financier on the structuring of a transit financing arrangement involving the purchase of LNG on CFR terms.
- Advising a trading house on the structuring of a tolling-based working capital facility for the processing of aluminium.
- Advising a financier on the development of its template transactional trade finance facility agreement and associated security documents.
Awards and Recognition
Latest News & Insights
Structured letters of credit - Considerations for traders and trade finance banks
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