Case Studies

Featured transactions across sectors and jurisdictions.

Anonymised, illustrative examples of structured solutions delivered for clients. All transactions are subject to confidentiality — figures and details have been altered to protect client identity.

Project Finance
$120M
SectorRenewable Energy
RegionMENA

Multi-tranche solar project facility with ECA support

Challenge

A 250MW solar development required senior debt larger than any single regional lender could underwrite, alongside ECA cover for imported equipment.

Approach

We structured a senior + mezzanine stack with three lenders sharing risk, ECA-supported tranching on capex draws, and a tariff-linked DSCR covenant package.

Outcome

Closed in 5 months from term-sheet to first drawdown. Sponsor retained 100% project equity. Construction on schedule under tranche-by-tranche release.

Real Estate Finance
€45M
SectorMixed-Use Development
RegionSouthern Europe

Bridge facility with refinancing exit

Challenge

A developer needed an 18-month bridge to complete a mixed-use scheme, with a clear path to a senior term refinancing on stabilised cash flows.

Approach

Structured a first-charge bridge alongside a local senior lender, with milestone-based drawdown and a pre-agreed refinancing intercreditor.

Outcome

Project delivered six weeks ahead of schedule. Term refinancing closed at 65% LTV against valuation, bridging facility repaid in full.

Trade Finance
$18M
SectorCommodities Import
RegionAsia–Africa

Insurance-backed revolving LC line

Challenge

An importer with strong off-takers but limited collateral needed a revolving LC line to handle seasonal volumes that conventional banks declined.

Approach

Built an insurance-backed receivables facility: trade credit cover on rated buyers, LC issuance against confirmed orders, and a revolving 90-day cycle.

Outcome

Borrower scaled volume 2.4x in 18 months. Credit insurer renewed cover at improved terms. Facility extended to $32M.

Growth Capital
$32M
SectorHospitality
RegionEurope

Cross-border expansion mezzanine

Challenge

A hospitality operator entering three new countries needed expansion capital without giving up equity, sized larger than its existing bank could provide.

Approach

Structured a 5-year mezzanine instrument with PIK toggle and modest equity warrants, secured by the operator's master-lease portfolio.

Outcome

Six properties opened in 14 months. EBITDA tripled. Mezzanine refinanced into senior facility at completion of expansion plan.

Structured Finance
£25M
SectorTechnology / SaaS
RegionUK & EU

Recurring-revenue backed term facility

Challenge

A B2B SaaS company with predictable ARR wanted growth funding without a dilutive equity round, but standard venture-debt offers were undersized.

Approach

Designed a structured facility against contracted ARR — tranched, with covenants linked to net-revenue retention and a cash-sweep mechanism on excess CF.

Outcome

Facility funded in two tranches. Founders retained majority equity. Company reached profitability before final tranche was drawn.

Project Finance
$95M
SectorMining
RegionWest Africa

Off-take-backed development facility

Challenge

Mid-tier mining operator needed expansion capital ahead of full off-take commitments, with currency and political-risk concerns deterring senior lenders.

Approach

Combined ECA cover, political-risk insurance, and a phased off-take signing milestone tied to drawdown release. SPV structuring with offshore receivables account.

Outcome

Phase 1 funded; production volume up 60% within 18 months. Phase 2 facility approved on improved terms once full off-take book locked.

Examples are illustrative and anonymised. Outcomes vary by transaction and are not indicative of future facilities. All transactions are subject to underwriting, due diligence, and the decisions of independent credit committees.

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