Tenn Capital’s Landmark £52m Cross-Border Financing Deal

Key Highlights

Client Type: Private Limited Company

Property Value: £200m

Property Location: UK & Switzerland

Loan Amount: £52m

LTV: 26%

Time to Complete: 5 weeks

What the customer required:

The customer required funding to repay existing finance and to make a small capex facility available to support the refurbishments being undertaken at the property.

Loan specifics

The loan was to be secured against Properties in different countries with guarantees from a parent company which ultimately is a regulated fund. All assets are held within an international structure spanning multiple jurisdictions. This meant legal and regulatory requirements had to be met. This is the largest single deployment Tenn has provided since its inception and we worked closely with one of syndication partners to deliver this facility.

As ever, due to the complexities involved, the Tenn team drove the transaction to completion, guiding and supporting all stakeholders. The Tenn team also led the facilitation of the deal, working closely with the various third parties in each location to ensure success for all parties.

Inside the deal

Steve O’Brien, Managing Director at Tenn Capital, worked on the deal and said: “This was the most interesting and complex loan I have ever worked on. It was crucial we contracted the specialist lawyers to ensure all aspects were covered. Not least because of the locations of the properties and the multiple legals aspects that required significant care. The international trust structure added a level of complexity to the deal which the Tenn team was able to negotiate due to the unrivalled experience we possess in terms of facilitating agreements against assets owned in such a way.”