Pillsbury‘s Trade & Commodities Finance practice encompasses traditional trade financing such as letters of credit and forfeiting, as well as the more highly structured financings of aircraft and cross-border infrastructure projects supported by government guarantees or insurance. In particular, our attorneys are experienced with the financing of equipment supported by export credit agencies, and the financing of international infrastructure projects that involve participation by governmental and quasi governmental agencies such as the US Export-Import Bank, World Bank, International Finance Corporation, the Overseas Private Investment Corporation and foreign governments.
Pillsbury attorneys also advise banks and other financial institutions on a wide range of commodity finance transactions and an array of collateral categories, including livestock, cocoa, steel, mining, cotton, grain, soybeans, and energy products. As the demand for commodities has increased, so has the need for legal guidance in understanding the complexities of these financial structures. We work with a multitude of deal structures—including single-bank and syndicated credit facilities, domestic and cross-border transactions, and dollar-denominated and multicurrency loans—and have counseled clients with respect to a whole host of transactional aspects, including:
- receivables financings
- structured commodities financings
- pre export financings
- secured and unsecured credit facilities
- repurchase agreements
- warehouse receipts
- uncommitted facilities
- intercreditor agreements
- collateral management
Pillsbury also advises clients on the structuring, negotiating and documenting of stand-alone commodity derivatives, as well as commodities derivatives that are embedded in larger financings. We advise on the creation and documentation of swaps, options, and other tailored commodities derivatives to meet the particular needs of clients and their counterparties.
We represent lenders, equity investors, and purchasers of equipment, and work with sovereign guarantees and other financial instruments designed to mitigate political risk. We have helped clients structure deals around the globe, including Algeria, Bangladesh, Pakistan, India, Ethiopia, Canada, China, Uzbekistan, Thailand, Korea, Jordan, Malaysia, Israel, Peru, Mexico, Turkey, Brazil and Guatemala.
Cap and trade. Right.
Old news but worth repeating because the politicians keep talking this shit. Remember dotcoms? Remember weekly refinancing for 125% of home equity? Meet the next game called cap and trade. $7B USD magically disappears and no one is accountable.
Flying below the American radar, a tax scandal has been rocking the global carbon markets. Ironically, it is emanating from Copenhagen, the city that six months ago hosted the world's largest climate summit
Aluminium prices hit beer can costs
The soaring cost of making beer cans has forced the London-listed SABMiller on to the back foot in its long-running US price war with Anheuser-Busch, the company behind America's most popular beer, Budweiser.
Aluminium prices have almost doubled in the last year to about $3,000 (Â£1,586) a tonne, mirroring other commodity price rises. SABMiller, which brews the number-two US beer, Miller, admitted that, unlike some rivals, it had not hedged against this rising cost and would not start doing so at current aluminium price levels.Miller sales to the US drinks trade dropped 1%, with operating profit down 7%