Trade & Export Finance

Marian Boyle Partner +44 (0)20 7448 1004 vCard
Simon Cook Partner +44 (0)20 7448 1002 vCard
Hannah Fearn Senior Associate +44 (0)20 7448 1008 vCard
Sam Fowler-Holmes Associate +44 (0)20 7448 1006 vCard
Tom Glinka Senior Associate +44 (0)20 7448 1007 vCard
Jon M. Jenkins Partner (212) 660-3016 vCard
Anna Koshy Senior Associate +44 (0)20 7448 1009 vCard
George P. Lindsay Partner (212) 660-3019 vCard
Mark Norris Partner +44 (0)20 7448 1003 vCard
Sarah Raza Associate +44 (0)20 7448 1012 vCard
Michael T. Sullivan Partner (212) 660-3024 vCard
Geoffrey L. Wynne Partner +44 (0)20 7448 1001 vCard

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Our market-leading, London- and New York-based Trade & Export Finance Group advises clients on transactions in a wide range of jurisdictions, with a special emphasis on emerging markets, including Africa, Asia, CIS and Latin America. We advise financial institutions, funds, corporates, and national and supranational sovereign/quasi-sovereign organizations.  

The practice has recently received a number of accolades: 

  • Global Trade Review named Sullivan & Worcester "Best Trade Finance Law Firm" in the GTR Leaders in Trade Awards 2015.
  • Trade & Forfaiting Review (TFR) named Sullivan & Worcester "Best Law Firm in Trade Finance" in its 2016 TFR Excellence in Trade Awards and 2015 and 2014 TFR Excellence in Trade Awards.
  • The Legal 500 UK, 2016 ranked the firm in Tier 1 for Trade Finance.
  • IFLR1000 2016, The Guide to the World's Leading Financial Law Firms, recognized Sullivan & Worcester as a Notable firm in the category of "Financial and Corporate — Bank Lending: Lender side."

Our practice is multi-disciplinary, involving attorneys and solicitors who are experts in trade and export finance, project finance, asset finance, securitization, securities law, insurance, tax, compliance issues and dispute resolution. We have advised on deals involving all types of commodities including softs, metals, oil and gas.

We have experience in a wide range of matters including:  

  • Commodity financing: large syndicated pre-export financings, prepayment transactions, borrowing base, reserve base lending and inventory financings and commodity repos
  • Receivables financing: multi-jurisdictional supply chain finance programs, invoice discounting, factoring and forfaiting transactions
  • Structured financing: asset acquisitions, distribution, securitizations, hedges, credit derivatives and synthetic securitizations
  • Trade services: advising on trade finance instruments and the application of uniform rules of practice
  • Export credit agency (ECA) finance: short, medium and long-term export credit agency and multi-source finance
  • Trade disputes: representing trade finance clients in disputes in fora through the world, including the International Chamber of Commerce, the London Court of International Arbitration, American Arbitration Association, and ad hoc arbitrations, as well as traditional courtroom proceedings

In addition, our partners regularly advise on regulatory (Basel III) bribery and corruption issues and sanctions issues in connection with trade and export finance.

Representative Client Work

  • Advising Deutsche Bank as documentation agent in relation to the annual $1.6 billion pre-export syndicated facility provided to the Ghana Cocoa Board. This financing typically has a syndicate in excess of 30 banks and is the largest soft commodity financing in Sub-Saharan Africa each year.
  • Advising a leading international bank on a $175 million commodity financing facility for a UAE/Pan-Africa trading group, involving the taking of security over commodities in multiple African jurisdictions.
  • Advising three international development agencies on a study of legal issues relating to warehouse and commodity-based financings in nine African jurisdictions, covering Anglophone, Francophone and Lusophone legal systems.
  • Advising a major international bank on a major jurisdictional survey relating to structuring and implementing commodity repos in several jurisdictions around the world, covering a variety of commodities including agriculture, metals and oil.
  • Advising a major international bank on receivables discounting agreements for a number of the bank’s clients, including receivables arising from sales of coffee.
  • Advising the UK subsidiary of a Nigerian bank on a $70 million commodity financing facility to UAE/Singapore borrowers involving the taking of security over commodities in multiple African jurisdictions.
  • Advising a regional development bank in Africa on a $5 million equipment import and installation facility for a Ghanaian corporate borrower and a Chinese supplier involving the taking of security over certain equipment and other assets.
  • Advising a number of banks on various facilities to energy companies to finance the sale and purchase of oil through the Kenyan oil open tender system (OTS).
  • Advising a hedge fund in relation to the provision of a prepayment facility to an international mining and mineral exploration company to finance the operations of a mine in Morocco.
  • Advising a club of international banks on an ECA supported financing in excess of $170 million in relation to an electricity infrastructure project in Zambia, supported by a government guarantee. The financing involved both an ECA and a commercial facility.

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