For over 35 years, Miles & Stockbridge has represented lenders to US exporters and buyers of US-manufactured products and regularly represents banks engaged in working capital and end-user export finance, which often involves the use of guarantee or insurance products offered by the Export-Import Bank of the US. Parties to these transactions have included buyers located in over 50 countries.
Some of these loans have been structured as secured project finance transactions. Other loans have involved intercreditor arrangements with other lenders, subordinated debt, real estate or equipment as collateral or unsecured obligations of private borrowers or sovereign governments.
Representative transactions include:
- Secured aircraft acquisition financings in Nigeria
- Project financing for a housing complex in Qatar
- Purchase by a lender of debt instruments issued by a Russian company to a US seller of gas compression equipment
- Bank-to-bank financing in Africa, which was ultimately used to finance the purchase by a Malawian airline of a US-manufactured airplane
- Project financing for the acquisition of sport courts and other recreational facilities by the Government of the Dominican Republic
- Loans made to Brazilian utility company to purchase over two dozen construction cranes needed to expand its pipeline
- Multi-bank financing for the purchase of textile manufacturing equipment by a Turkish company
- Contract financing for the performance of a contract by a Minnesota-based manufacturer of flexible piping with a state-owned Russian company to construct a power plant in India
- Intricate export financings for each of a Wisconsin hydraulics manufacturer and a New York-based fabricator of building sprinkler systems integrated into asset-based lending financings with multiple domestic and foreign components
- Export working capital line of credit to Wisconsin manufacturer of packaging machinery extended in connection with the sale of the borrowing company by one German owner to another
- Short-term financing of purchases of US agricultural products and other commodities
Since the inception of the Working Capital Guarantee Program of the Export-Import Bank of the United States, Miles & Stockbridge has represented lenders financing the export working capital requirements of US exporters. These representations range from specific transactions to general export sales; stand-alone financings to those integrated into complex credit arrangements; loans secured by overseas collateral meeting US content requirements; and transactions under Ex-Im Bank’s Delegated Authority and Super Delegated Authority Programs.