This loan involved an SPV owned by a trading group who needed to refinance assets in order to fund wider development activities.

The SPV was able to evidence its ability to service the debt over the life of the term from free cashflow (the SPV receives guaranteed income under a lease), with a bullet repayment to be provided upon a refinance post construction of the asset that the loan was being used for.

We understood the unique fundamentals of this deal and were able to provide funding to the borrower in a package that other funders were not willing to do.