Assisting a Belgian bank in setting up a cross-border, multi-seller trade receivables purchase programme which includes originators (sellers) from 6 different jurisdictions.
Stibbe was lead counsel responsible for coordinating over 15 jurisdictions involved in the programme. The team developed multi-seller receivables purchase documentation allowing for flexible accession mechanics for additional sellers. The transaction also needed to cater to seamless closing mechanics ensuring uninterrupted funding for the client when it terminates its existing receivables purchase programme and transfers them to the programme. Finally, following Stibbe’s capabilities in efficiently coordinating cross-border transactions considering the involvement of a high number of jurisdictions, closing of the transaction took place within 3 months after Stibbe was mandated.