DLA ADVISES ON CROSS BORDER ASSET-BASED FINANCE TRANSACTION
DLA has advised both GMAC Commercial Credit and
Barclays Bank on their provision of £34m multi-currency secured
facilities to Daisytek-ISA, the computer accessories distributor.
DLA provided advice on the funding of the borrower's group in four
European countries using D&P alliance member Lindh Stabell Horton
in Norway and Sweden and Bette Brink in Germany.
GMAC Commercial Credit was advised by banking partner David Breakell
assisted by Lucy Nicholas and Iain Shurwood.
Barclays Bank was advised by DLA partner Simon Neilson-Clark assisted
by Richard Tripp.
The borrower group were advised by Hammonds.
The deal was one of the most complex of its type, having regard
to the multi-jurisdictional nature of the transaction., the different
types of facilities granted to different group companies and the
syndicated element, which is still relatively unusual in asset-based
finance.
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