£35M first charge club deal leading a bank syndicate through a restructuring and successful consensual sale.
Advised on the restructuring and sale of a portfolio of three secondary shopping centres financed by a syndicate of three banks. The assets had experienced sustained operational underperformance and the original asset management strategy had not delivered the anticipated improvement in income or value, requiring lenders and the borrower to consider a range of restructuring and recovery options.
How we structured it
Zero-loss calibration
Collaborated with other lenders, borrower, sponsors asset managers and purchaser to reposition the asset ahead of a consensual sale without loss to the lender group
End-to-end restructuring strategy
Designed and implemented the restructuring strategy including asset management, capital and provision management and legal risk
Mitigated hedging liabilities
Restructured hedging instruments to avoid crystalising a significant liability at point of repayment
