05 · What we finance
Structured finance
Capital structures for transactions with several parties or several sources of repayment: vehicles, tranches, mezzanine.
Tenor 2 to 7 years
The facility
When a transaction has several parties, several kinds of risk or several sources of repayment, the structure matters more than the rate. We design the vehicle, the waterfall and the tranches so that each party’s position is written down and each risk sits where it is best held.
What it is for
- Acquisition and project structures
- Mezzanine and subordinated capital
- Securitisation-style pools
- Hybrid and convertible instruments
What stands behind it
- Ring-fenced vehicles and waterfalls
- Project and contract cash flows
- Layered security packages
What we ask for
- The transaction structure and parties
- Cash-flow model and sources of repayment
- Legal opinion on the vehicle
- Security package and intercreditor terms
- Corporate documents and KYC
Also
The other five.
- 01Corporate lending
Term and revolving facilities for established companies: expansion, acquisitions, refinancing, and the balance-sheet moments between them.
Read - 02Private credit
Bilateral, confidential credit for situations a bank’s template does not fit: a timetable, an unusual asset, a sponsor’s structure, a need for discretion.
Read - 03Real estate finance
Development, investment and bridging capital for owners and developers, secured on the property and its income.
Read - 04Asset-backed finance
Facilities sized to what a business owns or is owed: receivables, inventory, plant and fleet. The line moves with the assets.
Read - 06Trade and working capital
Finance that moves with the trading cycle: imports, distribution, confirmed orders and receivables.
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