Insights

Surety is a parallel credit system that sits alongside the bank facility, not against it. A look at how lenders and operators can use bonding capacity to expand without adding bank debt.

Critical minerals and rare earths have become strategic industries, shaped by industrial policy, security of supply, and geopolitics across developed economies. As that shift flows into contracts, liquidity gets trapped in letters of credit, cash collateral, and performance security, shrinking revolver headroom even as EBITDA improves. This article shows how to preserve usable capital by optimizing the LC portfolio and adding surety and trade credit insurance.