SECURED CROSS-BORDER FINANCING TRANSACTIONS
Trust and parallel debt
Cross-border financing transactions have links with different jurisdictions, and may include both civil law and Anglo-Saxon jurisdictions. Some jurisdictions do and some don’t accept that it is possible to grant security to a security agent (e.g. a special purpose vehicle or a trust) in order to secure money owed to several lenders (syndicated loan / facility).
As far as secured syndicated facilities are concerned, it is not uncommon that one or more lenders change. It is important that despite fluctuations in the group of lenders the security remains valid, without the need to re-establish (or re-register) …
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