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The Single Group Facility: Simplifying Cross-Border Receivables Finance

November 21, 2022

By Ronald Biemans and Tom Gevers


Biemens_Gevers_Headshots
Pictured: Ronald Biemans and Tom Gevers

In November of 2021, SFNet announced its first Cross-Border Finance Essay Contest, sponsored by Goldberg Kohn Ltd. Members of SFNet’s International Finance and Development Committee judged the essay submissions on content, originality, clarity, structure and overall contribution to furthering and expanding understanding and discourse within the field of cross-border finance. This essay is the first-place essay.

The authors of the winning essays have been invited to participate on a panel at SFNet’s 78th Annual Convention in Austin, TX, Nov. 9-11. The third place essays were published in the September issue of TSL and the second place winner was published in the October issue. 

To unlock the receivables cross-border financing potential in Europe, which was historically frustrated by the commercially unsuccessful multi-local market practice of providing scattered bilateral receivables facilities on a country-by-country basis, we designed the Single Group Facility solution (“SGF”) establishing a single receivables pool. The main advantages are a) its scalability and flexibility through consolidated asset pooling on a “plug-and-play” basis that smoothly (de-) connects relevant geographies (on and off balance sheet), b) relief for the clients in operating their working capital management and c) a single source of funding.

The SGF solution was implemented as a pilot in 2015. Currently it covers more than 21 European jurisdictions, USA, Canada, Australia and is accepted by the European ABF market as a valid and tested solution for cross-border receivable finance. Multiple European and US banks, aided by their legal professionals, participated in this (syndicated) solution over the past seven years.

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About the Author

Ronald Biemans joined ABNAMRO 12 years ago after a career as an attorney at law, insolvency practitioner and corporate finance. At ABNAMRO ABF he held various positions including CRO NL and head of Group Risk for NL, UK, GE and FR, prior to his current position as head of International Structuring & Origination. He was a strong promotor
of setting up the International Clients ABL team covering structured working capital management solutions in 2016. With its award winning European cross border solutions, the team shows evidence of winning new business across Europe, delivering innovative ABL structures and creative documentation, growing market share while maintaining credit quality and developing teams.  
     The holds master degrees in Dutch Law and European & International Law. He also holds post-graduate degrees in Insolvency Law, Finance & Security Law and Finance.

Tom Gevers is responsible for International ABL Structuring at ABN AMRO Asset Based Finance. He has over 20 years of experience in asset-based lending in various senior positions including head of Financial Restructuring & Recovery and manager International Business Development. Prior to his career at ABN AMRO Asset Based Finance, Gevers has been senior consultant at McKinsey & Company, general manager Vendor Trade Finance at DLL and international product manager at Philips. Tom has a degree in Technology from Eindhoven University and a post doctorate degree in Insolvency Law at Radboud University Nijmegen. 

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