Alex Dunn
Alex Dunn is a banking lawyer based in London. She has experience of a broad range of domestic and cross-border structures and works primarily on secured corporate lending transactions and asset-based lending.
Alex also has experience of leveraged finance, with particular focus on the technology sector, and real estate finance. She primarily represents banks and other financial institutions and has both transactional and general advisory experience. Alex is recommended for asset-based lending work in Legal 500, 2018.
Practice Area
Panel
- Contributing Author
1 Contributions by Alex Dunn
PRACTICE NOTES
Asset-based lending under English law: receivables, inventory, plant and machinery, real estate; borrowing base, fixed and floating charges, ROT/CRAR, insolvency and intercreditor issues
This Practice Note sets out a concise overview of the financing structures typically used by UK asset-based lenders and highlights the key English law legal issues encountered when funding receivables (often called book debts) in the asset-based lending market, together with one or more of the following assets:
inventory (also referred to as stock)
plant and machinery (also referred to as equipment)
real estate
cashflow loan
It also summarises common asset-based lending structures and the principal issues to consider when arranging asset-based financing.
Key features of asset-based lending
ABL is senior, secured lending primarily intended to fund a trading business’s working capital. Advances are determined by the realisable value of defined classes of a borrower’s assets, collectively known as the borrowing base. ABL is often event-led, offering flexible access to liquidity during periods of transition, such as an acquisition or a restructuring. An asset-based lender invariably provides receivables financing (see: Receivables financing below) as the anchor facility, supplemented by one or more additional facilities as required...
Banking & Finance
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