Borrowing Base
Definition

Borrowing Base (Beleihungsbasis)

Der Höchstbetrag, den ein Kreditnehmer im Rahmen einer revolvierenden Kreditfazilität abrufen darf, berechnet als Summe der berechtigten Sicherheitenwerte multipliziert mit den jeweiligen Vorschussquoten. Im Gegensatz zu einem Festkredit schwankt die Verfügbarkeit mit Veränderungen der Sicherheitenwerte; die monatliche Bescheinigung durch das Borrowing Base Certificate (BBC) ist branchenübliche Praxis.

Deep Dives

Borrowing Base Mechanics

Related Terms

Eligible Receivables

Receivables that satisfy contractual eligibility criteria and can be included in the borrowing base. Ineligible receivables (delinquent, government obligors, concentrated, cross-border) are excluded.

Advance Rate

The percentage of eligible collateral value that lenders will fund against; reflects the expected recovery rate in a stress liquidation scenario. Accounts receivable: 70–85%; inventory: 40–65%; equipment: 60–75%; real property: 50–65%.

Borrowing Base Certificate (BBC)

A periodic certification (typically monthly) by the borrower confirming the composition and value of the collateral pool. The BBC is the primary operational control document; lenders may field audit the BBC quarterly.

Concentration Limit

A cap on the proportion of the borrowing base attributable to a single obligor, industry sector, or asset type. Prevents a single default from causing a disproportionate availability reduction; typically 10–25% per obligor.

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