London office advises Citibank on award-winning HCL supply chain finance programme

Global law firm Norton Rose Fulbright advised Citibank on establishing a global supply chain finance programme for HCL Technologies (HCL), which was awarded the “Best Use of Receivables Finance” award by the Working Capital Forum in 2022.

The new programme established a long-tenor insurance-backed receivables purchasing solution for HCL, which can handle nine currencies across 11 countries.

The Norton Rose Fulbright team was led by London-based partner Nick Grandage and senior associate Tudor Plapcianu.

Nick Grandage said: “This is a hugely successful outcome to a complex cross-border product. We are delighted that this transaction has concluded smoothly and has been recognised by the Working Capital Forum."

Norton Rose Fulbright’s structured trade and commodity finance practice is ranked Tier 1 by both Chambers & Partners and Legal 500. The firm’s lawyers cover the full range of commodities work for clients including financial institutions, alternative financiers, commodity producers, traders, corporations, export credit agencies and other multilateral institutions. They have significant experience advising on structured transactions and devising legal and practical solutions across a variety of products, both in established and emerging markets.