Travers Smith Advises on Facility Upsize for Newable Commerce
Deal News | Nov 15, 2024 | Travers Smith
Travers Smith LLP provided legal counsel to Shawbrook Bank and Hampshire Trust Bank for the upsizing of financing facilities extended to Newable Commerce, aimed at bolstering the company's support for exporting SMEs. Newable Commerce, which facilitates international business by offering working capital solutions, will use the increased funding to streamline export processes for SMEs. Quilam Capital joined the financing efforts by contributing a new £40 million facility. The advisory was led by Head of Finance Charles Bischoff, with support from associates Simon McPartlan and Phillipa Lamberton. This facility expansion marks another step in Newable Commerce's mission to offer flexible two-year debt solutions and rapid funding applications for SMEs.
Sectors
- Financial Services
- Legal Services
Geography
- United Kingdom – Travers Smith, Shawbrook Bank, and Hampshire Trust Bank, the entities involved, are UK-based.
Industry
- Financial Services – Involves companies providing financial advice and banking services, as seen with Shawbrook Bank, Hampshire Trust Bank, and their collaboration with Newable Commerce.
- Legal Services – Travers Smith LLP provided advisory services in the transaction, highlighting the role of law firms in financial infrastructure.
Financials
- £40 million – Facility provided by Quilam Capital to Newable Commerce.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Travers Smith LLP | Legal Advisor | Company | A UK-based law firm advising the banks on financial facility upsizing. |
| Shawbrook Bank | Senior Lender | Company | A bank providing financial services, participating in the facility upsize. |
| Hampshire Trust Bank | Senior Lender | Company | A UK bank involved in the facility upsize for Newable Commerce. |
| Newable Commerce | Target Company | Company | A company focused on facilitating SME exports through working capital solutions. |
| Quilam Capital | Lender | Company | Provided a new £40 million facility as part of the funding for Newable Commerce. |
| Charles Bischoff | Head of Finance | Person | Led the Travers Smith advisory team for this transaction. |
| Simon McPartlan | Associate | Person | Part of the Travers Smith team advising on the facility upsize. |
| Phillipa Lamberton | Associate | Person | Part of the Travers Smith team advising on the facility upsize. |