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Burwill Group – pre-payment loan
26 March 2010
Challenging pre-export conventions
MLA: Standard Chartered Bank
Borrower: Burwill Resources
Amount: $30 million
Tenor: 3-years
Lawyers: Baker & McKenzie |
This pre-payment loan for the financing of strategic, long-term iron ore purchases caught our eye because it challenges conventional thinking around pre-export financing. The usual flow of funds on this deal for the steel trader Burwill Resources has been reversed – a purchase in an OECD country is funded from a developing economy, instead of the other way around.
Standard Chartered’s financing solution allowed Burwill to push the envelope and be the first...
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