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Bank Facility Rollover Declined
Rapid refinance of a major operating asset after a major bank unexpectedly pulled support.
Transaction Overview
A fully operational, cash-flow positive hospitality and retail precinct in Sydney had its facility rollover declined due to a change in the incumbent bank's sector appetite. Facing a hard expiry, we provided a $35M facility at a highly conservative 40% LVR against the going concern value, stabilizing the asset and providing a 24-month window to either sell the asset or secure alternative institutional debt.
Key Metrics
Loan Amount
$35,000,000
Interest Rate
10% p.a.
LVR
40% of going concern
Location / Asset
Sydney
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