Has your bank declined to roll-over your Company loan?
IS IT A “SPECIAL SITUATION” REFINANCING?
If your Bank has told you to refinance elsewhere, then opportunity beckons! We may be able to get you an unexpectedly good deal.
Why Choose Us?
Our Bank Refinancing Service (Special Situations)
We don’t do standard bank refinancing. We like the ones where the Bank has told you that they won’t refinance and you should look elsewhere. When we hear that we see an opportunity to get imaginative and get you a great deal that will involve moving banks but getting better terms and maybe a substantial haircut on the debt. Our Experts have been through this process many times and have been both on the Company side and the Bank side, so we know the buttons to push.
Experienced Refinancing Experts
Our Experts have been negotiating bank refinancings and debt restructurings since the 1980s!!
Chartered Accountant, Board Member of Association Independent Insolvency Practitioners, Member of Turnaround Management Association, Member Australian Restructuring Insolvency & Turnaround Association, Registered Liquidator.
Cliff is a corporate restructuring specialist with over 30 years of experience in Australia and internationally. He is the founder and Chief Executive Officer of Restructuring Works. In the last 10 years he has been appointed to over 700 companies. He was a Partner of Ernst & Young for 10 years. His experience ranges from debt restructurings, bank refinancings, to sale of business, due diligence and valuations. Cliff has been the lead adviser in some of the largest debt restructurings in the Asia Pacific region including twenty four listed companies with debts of over two billion dollars.
Fellow of Chartered Accountants Australia & New Zealand, Registered Liquidator, Member Association Independent Insolvency Practitioners
John has more than 30 years specialist experience in corporate recovery, restructuring and reorganisation. He was a Partner of one of the Big4 Accounting firms, Ernst & Young in the Transaction Advisory Services Division for 24 years and Leader of the firm’s National Corporate Restructuring practice. John’s experience allows him to deliver optimum results for his clients. This has been best demonstrated by his key role in a number of complex corporate restructurings including Greyhound Racing NSW Pty Limited and New Cap Reinsurance Corporation Limited.
WHAT IS THE
Bank Refinancing Process on a “Special Situation”?
The process varies to suit the situation and the particular bank. But some principles apply:
- we identify if your Company is suitable for our special service (yes, there are very specific traits we look for)
- then we work with you to assess the businesses metrics and prepare forecasts for us and the bank
- the negotiation is done directly by us with the bank, behind-the-scenes (we don’t use Voluntary Administration)
- once negotiated the agreement is documented in a simple Deed.
WHAT IS THE
Cost of our bank refinancing service?
We align our fee structure with your desired outcome. We have a variety of fee structures we can agree with you. By way of example we can use any of the following fee structures, or a combination:
- a retainer plus a fixed monthly fee
- a retainer plus a fixed success fee * hourly rates
- a percentage of the debt haircut we negotiate for you (say 20% of the debt reduction)
Bank Refinancing – what am I missing here?
Yes you probably are missing something, because the bank didn’t tell you! We specialise in bank refinancing in “Special Situations” where your current bank no longer wants you as client. In that situation the bank wants you to go and so we know the sorts of deals that will be acceptable to them. There is a chance you have entered the banks “special situations group” or even “bad bank”. Our experts have worked within those bank areas and advised those areas on how to deal with loans. We know what they want!
Speak to one of our Bank Refinancing Experts today
Examples of successful Bank Refinancings
Big 4 Bank
Our client became aware it had been transferred to the “Special Assets” division of a Bank. We arranged a deal whereby a new lender provided finance and the old lender agreed to payment at 70 cents-in-the-dollar.
Syndicate of five Banks
Payment holiday & terms extended
Our client was a small listed textile manufacturer with an unsecured debt to a syndicate of five banks. We negotiated a repayment holiday of one year and extended the terms of payment for the debt over four years
Major Asian Conglomerate
Debt Haircut & terms extended
Our client owed a large banking syndicate in excess of $300 million and an impasses had developed in negotiations. We developed an innovative “restructuring incentive plan” to align owners, management and the banks to cooperate to sell some assets, reduce the debt burden and refinance the base debt over a number of years.
Our professional memberships
Association of Independent
AIIP Board Member in-house
Association of Independent
ARITA Members in-house