Capabilities · 03
Bonds & structured credit
Lending is only as stable as the funding behind it. Every facility we write carries a matched liability, so a repricing market cannot force us to call good companies.
- Programme size
- USD 50M+
- Format
- Private placement
- Coupon
- Fixed or revenue-linked
- Tenor
- 5 – 7 years
The hedge sits behind the loan
We term out commitments through private placements with institutional buyers, matching duration, currency and rate exposure to the facilities they support.
Borrowers get fixed-rate capital for the full tenor instead of a floating rate reset every quarter. The credit quality of the underlying companies is what the noteholders are paid for, and what we are held to.
Warehouse, then term out
Facilities are initially held on balance sheet, then refinanced into a note programme once a pool is large enough to place.
Structural protection
Cash-sweep triggers, concentration limits and reserve accounts are set at issuance and tested monthly.
Disclosure without theatre
Noteholders receive the same monthly reporting the investment committee sees, with no lag.
What we look for
The screen, before the term sheet.
- A pool of seasoned facilities with at least two quarters of performance
- Diversification across sectors and geographies before placement
- Currency exposure hedged to the note's denomination
- An administrator independent of the origination team
Related disciplines
One balance sheetEnquiries