Norton Rose Fulbright advises on two winning deals at the GTR Best Deals of 2025

Global law firm Norton Rose Fulbright has been recognised for its involvement in two winning deals as part of the Global Trade Review (GTR) Best Deals of 2025.

GTR is a leading industry publication providing in-depth news, leads and analysis on the global trade finance, export finance and risk markets.

The annual GTR Best Deals compilation carefully selects the market’s most significant transactions from the past 12 months, based on submissions sent to the editorial team. These winning deals showcase excellence across trade, commodities, supply chain and export finance, as well as FinTech innovation.

Norton Rose Fulbright advised Citi on extending a discounting facility to Indian IT services company HCL Technologies Limited (HCL) for long tenor receivables totalling US$100 million, which was named one of the GTR Best Deals of 2025.

The receivables are for subscription payments for a suite of HCL’s software as a service (SaaS) and was backed by credit insurance. This will enable HCL to overcome limits on new business origination by establishing a highly risk efficient structure backed by credit insurance. The Norton Rose Fulbright team advising Citi was led by partner Tudor Plapcianu in London.

The firm also advised on a winning deal for its role in one of Europe’s largest steelmakers, Salzgitter Group’s green steel transformation project to dramatically reduce its carbon emissions, including by replacing blast furnaces with electric arc furnaces and constructing direct reduction iron ore plants.

This was achieved via an unsecured financing package split into two components – a €300 million loan, to support the construction of the direct reduction plant, and an additional €200 million facility, which will enable the supply of the electric arc furnaces. The Norton Rose Fulbright team supporting two consortia around BNPP and Commerzbank on this financing was led by partners Bernhard Fiedler in Frankfurt and Arturo Sferruzza in Milan.

Norton Rose Fulbright’s global banking and finance team has one of the longest histories of any law firm in the field, advising major banks, finance providers, export credit agencies, corporate and sovereign entities and other participants in the global banking and finance arena. The firm advises across the full spectrum of legal banking and finance matters, acting for parties ranging from multinational lenders to growth corporations.