Mayer Brown Advised Pareto Securities On First-Ever Non-Bank Borrowing Base Facility

Mayer Brown Advised Pareto Securities On First-Ever Non-Bank Borrowing Base Facility

Mayer Brown advised Pareto Securities as lead arranger on the first-ever borrowing base facility provided by non-bank creditors. The $125 million financing, which combines loan and debt capital markets structures, aims to serve as a blueprint for addressing the funding gap currently faced by small and medium-sized commodity traders.

This transaction opens a new source of debt capital to international commodity traders whose financing needs are more bespoke than those of larger companies. It also creates a pathway for a new class of creditor to invest in these asset-backed financings.

The lending group included five funds spanning the US, UK, EU, and Asia. The borrower is a Singapore-based oil trader.

The Mayer Brown team was led by Pierre Dzakpasu (Restructuring Partner) and included Anne Jesudason (Restructuring Associate, Singapore), James Taylor (Banking & Finance Partner), Gary Silverman (Counsel, Banking & Finance, London), David Prince (Counsel, Banking & Finance, New York), Serena Mussoni (Associate, Banking & Finance, London), Aditya Kurtakoti (Associate, Restructuring, Singapore), with product and sector assistance from Ash McDermott (London).

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