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International Finance

Miles & Stockbridge has a sophisticated international finance practice founded on our longtime representation of US corporations with international subsidiaries, foreign-owned corporations doing business in the US and all types of banks and financial institutions involved in international finance. Our lawyers bring decades of experience with complex global financing, transactional and tax issues and an extensive network of legal and financial counsel worldwide to every deal. In addition to the many collegial relationships we have formed in the representation of clients around the world, we are proud to be the Maryland representative of TerraLex, an alliance of more than 155 independent law firms in 100 countries and 44 US states. With global legal connections of this uncommon breadth, our clients have contact to an extensive network of legal counsel, practical commercial information and access to local capital markets throughout Europe, Asia, Africa and the Americas.

Representation of Multinational Borrowers and Banks

We have represented a significant number of foreign-owned entities in their US activities, as well as representing banks and commercial lenders involved in international finance. Our continuing counsel to several Fortune 500 multinational corporations and major global financial institutions enhances our experience in routine and complex international acquisitions, dispositions and cross-border financings. We provide legal counsel on the structure of transactions that deal effectively with applicable restrictions on collateral realization, repatriation and debt repayment to maximize foreign tax credits and manage negative tax and regulatory consequences. Our work in credit enhancement, an area of growing importance that serves to mitigate risk in markets where political or economic uncertainties may disrupt payments, is an increasingly important part of our international finance practice.

Global Capital

Miles & Stockbridge lawyers are both very active and accomplished in advising clients on resourceful techniques to raise capital in the global markets. We represent some of the world's largest commercial lenders in structuring multinational credit facilities for corporations with subsidiaries or significant operations in nearly all countries within the European Union and many located in Eastern Europe, Latin America and Asia. Many of these arrangements involve direct obligations of foreign subsidiaries of US corporations which are secured by assets located in other countries and structured to maximize collateral value, minimize US and foreign tax obligations and reduce lender risk. Our lawyers also counsel on other sophisticated forms of financing, such as the offering of equity in an emerging markets investment fund created as a Cayman Islands company and structured as a private placement sale to qualified investors around the world.

Trade Finance

For over 35 years, we have represented lenders to US exporters and buyers of US - manufactured products and represented banks engaged in working capital and end-user export finance, which often involves the use of guarantee or insurance products offered by the Export-Import Bank of the United States. Parties to these transactions have included buyers located in over 50 countries, many of which represent emerging markets. Some of these loans are structured as secured project finance transactions. Others have involved intercreditor arrangements with other lenders, subordinated debt, real estate or equipment as collateral and some are unsecured obligations of private borrowers or sovereign governments.

For descriptions of our work on International Business Transactions, please refer to our International Business Transactions practice description. For domestic Asset-Based Lending and Commercial Finance Transactions, please refer to our Asset-Based Lending and Commercial Finance practice description.