Schenck Price Closes $260 Million Multi-National Asset-Based Revolving Loan

Oct 29, 2018

Companies with large amounts of inventory often turn to asset-based loans to fund their growth. Here at Schenck Price, we have attorneys on both sides of the aisle, representing both borrowers and banks in asset-based lending transactions.  In October 2018, Michael J. Marotte, Co-chair of the firm’s Corporate and Business Law Practice Group, and Ilana T. Pearl, Counsel, represented a multinational corporate client as the borrower in a $260 million asset-based revolving loan from a private lender.  In addition to working closely with the client on due diligence and the preparation of disclosure materials, and aggressively negotiating loan documents, due to the large amount of foreign collateral pledged by the borrower and its foreign subsidiaries in connection with the loan, Schenck Price also collaborated with local counsel across Europe, Asia and Latin America on various mortgages and debentures required to close the loan.