We recently completed this loan for a high-profile borrower. The total solution is divided into two parts: Part One – A syndicated short-term loan with an equitable charge, supported by a personal guarantee (PG) was put in place quickly to solve the borrower’s urgent financing requirement.
Part Two –A closed bridging loan with a first charge on the residential property, which would clear the existing mortgage and our equitable charge until the property is sold.
We funded Part One using a combination of our private capital and funds from three co-funders, each of whom received an attractive high double-digit return with a guaranteed exit in the short term. The syndicated loan was completed with Tenn Capital being the lender of note (security and facility agent). However, each co-funder received direct interest in the loan and the security.
Each co-funder was provided with:
Our credit assessment
Copies of all documentation provided
The opportunity to inspect the legal documentation
Time to discuss the loan and rationale with our senior team
The loan was filled within 30 minutes of announcement and was oversubscribed 4 times in the end.
When offering syndicated loans, Tenn Capital operates a “glass box” approach, rather than a “black box”, when partnering with our co-funder network.