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This facility is specifically designed to
overcome the acute lack of liquidity in the banking sector and the banks'
consequent inability to consider any sizeable long term lending position.
Our three principle funding resources have have sufficient liquidity to be
able to consider new projects no matter how large they might be. This
particular facility is not available for projects with cash requirements
of less than USD.250 million. Requirements for project funding below this
amount are currently not being considered.
Please note: this facility is presently over subscribed and so new
applications are only being accepted from applicants with and able
immediately to demonstrate the required liquidity.
In
short:
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PROVISIONAL PROJECT LOAN TERMS & CONDITIONS: |
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Currency and Amount: |
US.$200 million
and above. Euros or Sterling also available. |
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Funding Ratio: |
Up to 100% of the project's overall
financing requirement. Loan will not exceed direct project cost. |
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Term: |
5 to 15 years. Fixed at
inception. |
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Interest Rate: |
Example: 15 year, USD
presently 5.5% p.a. net of local withholding taxes.
Fixed at inception.
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Interest Payment: |
Annually, semi-annually or
quarterly
(project dependent). Interest holidays (max 3 years) can be included to meet
cash-flow requirements. |
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Security: |
Corporate debenture, floating
charge or as otherwise agreed. |
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Loan Scheduling:
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To suit project cash-flow. |
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Repayment:
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Repayments to be scheduled to
suit cash-flow.
Capital holidays agreeable (max 3 years). |
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Equity Participation: |
Up to 10% equity may be
required in a minority of cases. |
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Lender: |
Exclusively through an international European
bank rated "Aa3" /" A+". |
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Geographic Exclusions: |
War risk zones. West Africa
generally and Nigeria specifically. Politically unstable or corrupt regimes.
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Acceptable Projects: |
Civil Engineering -
infrastructure and transport (land, sea or air).
Oil and Gas industry - infrastructure
and extraction.
Ship building and mercantile marine infrastructure.
Power
- electricity generation, especially ecologically innovative or "green".
Large Scale Industrial in developing countries
Financial restructuring of any of the above.
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Unacceptable Projects:
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Casino or Gambling based
developments.*
Holiday home and coastal/marine based leisure developments.
Mining and Minerals Refinement. Gemstone mining.
Residential Developments unless landmark and in major city centres.*
Financial Markets speculation or investment.*
Politically or religiously based or motivated projects.
*
Alternative funding facilities may be available for these types of
project (LTV
not exceeding 65%).-
email us with an outline. |
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BORROWERS: |
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Financial Strength:
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Borrower must be able to provide
liquidity of at least $100 million. This sum is
not required to be invested in the project but it will be
required to be lodged at the Borrower's Project Account for a period
not exceeding 15
working days, after time which the funds are released back to the
Borrower with a premium
sufficient to compensate for loss of interest or other costs associated
with its lodgement and meet all setting up, legal and banking fees and
other disbursements.
This sum
is used to trigger the structured finance platform which supports the loan
facility and enables 100% funding to be offered.
Project Sponsorship
The 10%
may
be provided by a third party
Project Sponsor or investor. In some circumstances we may be able to
introduce a Project Sponsor, particularly for projects in the USA or with
values in excess of $250 million. The Project Sponsor will also be
compensated for moving the funds to the Borrower's Project Account and can
expect to realize a 4% gross profit in 15 - 20 business days.
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Management: |
First class, germane
track-records for all directors and upper management. |
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Corporate Structure:
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New, special purpose corporate entity. The Lender reserves the right
to place a director on the main board. The Project Account and
payments to the Borrower will be overseen by a Lender's nominee. |
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FEES AND COSTS:
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Non-usance Fee: |
In most cases a 0.2% (two tenths of one
percent) refundable, non-usance
(commitment) fee to be lodged with the Borrower's lawyers
against an undertaking to release to us only in the event that the
Borrower withdraws an application (after formally made) before first
draw-down.
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Facility Fee & Legal Costs:
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A Facility Fee of 5% (five
percent) is deducted from the first draw-down. Borrower is
responsible for the Lender's legal costs but will have received
sufficient margin from the initial structure (see above) to cover this
expense. |
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ENQUIRIES: |
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From principals
and retained professional advisers only please. Please enquire via this dedicated
email in the first instance
providing as much of the following basic information as possible:
a.
Description, location, total cost, end value, exit strategy, etc.;
and
b.
Maximum
borrowing requirement and timing thereof; and
c.
Proposed
repayment
schedule; and
d.
Capital
and interest holiday requirements, if any; and
e. Schedule
of directors (with career resumés) and a list of principal
investors, if any.
f.
Borrower's written confirmation that they have the required 10% cash
liquidity or have made arrangements with a third party (Project
Sponsor) to provide it.
* No more than ten (10) pages
please. Expect a response within 2 UK
working days.
*
Please do not enquire about facilities of less than $100 million or involving a non-qualifying project type or location.
* General enquiries not involving a specific project will not be
considered.
* Use of unconventional nomenclature (Crore and Lakh for example) Is not
welcomed.
" Enquiries may be in
English, French, German, Italian, Portuguese or Spanish. Responses will be in English.
Preferred Initial Enquiry format
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Further Details: |
The above is simplified
for ease of understanding by applicants whose first language is not
English.
More comprehensive details will be provided upon written request
outlining a specific project and borrower.
Initial interviews will be by appointment only in London.
Formal loan offers are generally provided within 4 to 6 weeks from
receipt of all required information and proof of the availability of
the required liquidity.
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