Debt and Structured Financing

Debt affects more than interest cost. Drawdown conditions, repayment timing, covenants and security can shape how the business operates and raises further funds. We assess the funding objective, cash flow, existing debt and proposed terms. Financial modelling and forecasts can help examine repayment assumptions and downside scenarios, with the information, assumptions and responsible advisers identified in the engagement.

• Working capital and commercial credit facilities supporting operating requirements or expansion.
• Trade finance, equipment and asset financing, leasing and receivables-based funding.
• Private debt, development credit and project financing involving different funding sources or risk allocations.
• Structures combining debt with equity, grants or concessional funding, with coordinated obligations across the capital stack.
• Refinancing, facility amendments, waivers and revised repayment or security arrangements.

An agreed advisory mandate can include debt strategy, financial preparation, lender mapping, pipeline development and engagement planning. We help organise the information supporting the funding request and prepare for negotiation. That work can consider banks, private credit providers or development finance institutions according to the transaction. Capital providers make their own credit decisions; mapping and preparation do not guarantee an offer.

We prepare, review and negotiate loan and facility agreements, guarantees, indemnities and security documents. The review addresses the terms together, including their interaction with existing obligations and the borrower's business. Representation is subject to conflict checks and an agreed scope.

• Interest, fees, repayment, representations, covenants, events of default and restrictions on distributions or additional borrowing.
• Conditions to drawdown, approvals, filings and the documents required for completion.
• Security creation, registration and release, guarantees, creditor priorities and intercreditor arrangements.
• Escrow arrangements, consent requirements and continuing obligations after refinancing or repayment.

Asset and receivables financing require clear treatment of ownership, title, assignments, payment rights, servicing, insurance and default. Equipment arrangements also allocate delivery, maintenance, loss and recovery responsibilities. For securitisation, we examine the proposed transfer structure, investor protections and relevant approvals. Project structures connect financing terms with project entities, contracts, revenue arrangements and the allocation of construction, operating and payment risks.

New funding must account for existing creditor rights. We assess amendments, waivers, replacement facilities, security priorities and consent requirements. Where distress affects the proposal, we consider the implications for the company, directors and creditors, coordinating with Distressed Financing and Corporate Transactions and Corporate Governance where rescue funding or restructuring is needed.

Clients include SMEs, growth companies, technology and AI businesses, asset owners, cooperatives, project sponsors and financing counterparties. Deliverables may include a debt strategy, financial model, lender materials, diligence report, negotiated facility and security documents, approval records, conditions checklist and completion record. Scope, fees, timetable and responsibilities are agreed before substantive work begins.