Corporate and Specialty Finance

Structuring, documenting and closing lending transactions secured by atypical collateral — such as works of art, coins, movie rights and other specialty collateral — has become more common. This is in large part due to increased lender scrutiny regarding loan to asset value, and clients’ need to turn investment assets into liquid assets. Niche markets that continue to expand their use of atypical collateral to secure loans include aviation, maritime, partnership interests and wealth management.

The lawyers of Troutman Sanders Finance practice regularly represent lender and borrower clients in a wide range of corporate and specialty finance matters. We work with commercial lending, private banking and wealth management divisions of lenders to develop standard and customized loan and collateral structures that protect the lender while providing liquidity to the borrower. Our lawyers create loan and collateral structures that address the nuances of lending that apply to borrowers in specialized industries.

Representative Experience

  • Represented a specialty finance bank and its affiliate in a $15 million loan to a taxi company, to finance the acquisition of vehicles and Chicago taxi medallions.
  • Represented an individual borrower in a $50 million loan secured by a collection of fine art on loan to a major international museum.
  • Represented a bank in connection with a $16.5 million term loan to acquire a yacht.
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