ITFA Webinar on Electronic Bills of Lading and Borrowing Base Facilities

The many, and surprising, benefits of using Electronic Bills of Lading and why borrowing base facilities are becoming attractive to non-bank lenders

Electronic bills of lading are not new but recent advances in law and technology are allowing the industry to finally scale their use and reap benefits beyond improving logistical efficiency, important as this is. Their place and value in financing trade is beginning to be realised with a number of landmark borrowing base transactions hitting the market and a dawning understanding of the ways in which eBLs can improve bank regulatory capital at a time when trade finance is being hit by changes in the Basel framework. New non-bank participants are also starting to lend into this market.

Date: Wednesday, February 5th 2025
Time: 14.00 UK/ 15.00 CET/ 9.00 EST
Platform: Zoom (joining details will be sent by email to all those registered, a few days prior to the webinar)

ITFA has asked leading experts to talk about what has been happening in the market, what we can expect and the undiscovered benefits of using eBLs. This webinar will be moderated by Sean Edwards, Chairman of ITFA.

Our experts will cover:
– Elena Egorova – Head of Projects in DRUM Advisory and Shobhit Singh, Head of Metals, Minerals & Bulk at Trafigura – Peter, whose firm was appointed as Borrowing Base Agent / Collateral Manager on the Pareto Securities transaction and Shobhit who drove the Trafigura transaction for the commodity trader, will explain the background to the recent Pareto Securities and Trafigura borrowing base transactions which incorporated, in the Pareto transaction, non-bank lenders, and, in the Trafigura transaction, eBLs in their borrowing bases. Which insufficiencies or deficiencies do the use of eBLs overcome? What operational or practical changes need to be made to accommodate eBLs?
– Rebecca Shepherd, Senior Associate at Clifford Chance and Veronika Koroleva, partner at Gunner Cooke – Paul / Rebecca and Veronika worked on the Trafigura and Pareto Securities transactions respectively and will explain the legal issues. Are there any risks in using eBLs? What changes had to be made to the documentation to reflect the use of eBLs? How is the reliable system issue dealt with? What issues arise when dealing with non-bank lenders?
– Michele Sancricca, co -founder of Secro an eBL provider, and Orla Duffy, Reg Cap expert at SMBC Bank international plc– Michele and Orla will explain the regulatory capital benefits of using eBLs and how they can feed into the reg cap analysis through, for example,  bringing about lower LGD and Operational Risk pillar benefits through IFRS 9 analysis.

Please note that this webinar is exclusively for ITFA members.

Register

This session is part of ITFA’s ongoing commitment to fostering professional development and promoting excellence within our community.

We look forward to your participation in what promises to be a truly enlightening session.