Capital structure,decided before it is raised.
Capital structure, transaction design and financial modelling for projects and corporates, prepared to the standard a lender or an investor will test.
- Focus
- Capital · Transactions
- Output
- Models · Materials
- Discipline
- Executed terms
The work, itemised.
The structure is decided long before the money moves. This practice sets it, tests it, and produces the material a counterparty will actually review.
- 01
Capital structure
Debt, equity and quasi-equity assembled against the cash flow the asset can support, rather than the amount the sponsor would like to raise.
- 02
Transaction design
The sequence of steps — what is agreed first, what is conditional, and what releases capital — set out before any party is approached.
- 03
Financial modelling
Models built to be examined: stated assumptions, sensitivities that move the answer, and a downside case that is not decorative.
- 04
Equity and shareholder-loan structuring
Shareholder arrangements, loan terms and priorities set out so that control and return are agreed in writing before funding.
- 05
Lender and investor materials
Information memoranda, models and responses prepared to the standard a credit committee or an investment committee applies.
- 06
Valuation support
Valuation work assembled from evidence and stated method, prepared for negotiation rather than as a single number.
Three situations, usually.
Most mandates arrive at the point where the decision has been taken and the route has not.
- 01
The requirement exceeds the balance sheet
When the capital needed is larger than the sponsor can carry alone and the structure has to bring others in on terms that hold.
- 02
The structure is untested
When a structure has been proposed but never run against the cash flow, the covenants or a downside case.
- 03
The material does not exist yet
When a lender or investor has asked for documentation and nothing in the file can be sent as it stands.
Engaged with the mandate, not after it.
This practice is usually taken alongside a sector mandate and one or two others, on a single accountable scope.
Sectors served
Other practices
Discuss a corporate advisory & finance mandate.
Tell us the asset, the counterparty or the constraint. We will confirm whether we can help and who would take the mandate.