Quantcast

Asset-Backed Commercial Paper and ABL Financing

Asset-Backed Commercial Paper and ABL Financing

As a leading player in the development of the asset-backed commercial paper and ABL market, Shearman & Sterling helped create the first pooled receivables-backed commercial paper programs in the United States and Europe, as well as the first loan-backed commercial paper programs. In addition, the firm was a key participant in one of the first issuances of medium-term notes by a special-purpose vehicle that had previously issued only receivables-backed commercial paper. We have been an established player in the ABL market for many years and have been involved in some of the largest and most complex cross-border ABL deals in the market.

We have represented US and non-US corporations, as well as financial institutions, in single-seller and multi-seller asset-backed commercial paper programs and have remained active in all aspects of the creation and administration of such programs, including credit enhancement and liquidity support. Today, we represent many of the largest US multi-seller CP conduits with aggregate commercial paper programs in excess of $50 billion. Our London partners have represented numerous European CP conduits including Eureka, Tulip and Rheinmain, as well as US and non-US originators on single and multi-jurisdictional deals.

Loading...
Loading...
Connect With Us