Matheson recently advised Stenn, a UK-based non-bank trade finance leading provider specialised in cross-border trade finance, and Crayhill Capital Management, a New York-based alternative asset management firm that specialises in private credit investments, in connection with the structuring and establishment of a $200 million receivables securitisation programme with Natixis.
The transaction confirms Stenn’s commitment to expanding its international capital markets programme towards its multi-billion target to address the $1.5 trillion ‘trade finance gap’, by providing financing to buyers and suppliers engaged in international trade who are currently underserved by the traditional banking industry.
Michael Tenitsky, Chief Legal Officer of Stenn, commented: "Matheson provided valuable support that was key to completing the securitisation programme. Stenn is now fully established in the capital markets, which provides the engine to fuel our rapid growth."
Alan Keating, New York Resident partner in Matheson’s Finance and Capital Markets Department, who led the Matheson team advising on the transaction, commented: “We were delighted to work with the Stenn and Crayhill teams on the execution of this innovative multi-jurisdictional securitisation as part of Stenn’s strategy to further grow its international business by providing suppliers and buyers around the world with much-needed working capital.”
Our team was lead by Finance and Capital Markets partner Alan Keating who was assisted by Tax partner Kevin Smith and Finance and Capital Markets senior associate Micheál Buckley.