Are the lenders closing the doors?
Commercial Spirits Intelligence No.87
This newsletter is a collaboration between Duncan McFadzean of Noble & Co, and Martin Purvis. In this newsletter we leverage our experience, contacts and market intel to provide meaningful analysis that speaks to relevant issues for you.
Are the lenders closing the doors?
Introduction
Two years ago we reviewed the asset backed lending market (Commercial Spirits Intelligence No.7). This is a topic long overdue a refresh and this week we share our insights on where the markets are currently and how the banks see life. We explain how ABL works and why it has grown as an asset class for lenders. ABL has enabled a lot of distilleries to lay down stock years ahead of generating the revenue from that stock. As an appreciating asset class it carries an attractiveness for banks. But is the market coming to a close?