"Redbridge played a key role in assisting us with the financing required for the acquisition of SADE. Their support was evident in the upstream thinking and financial engineering, as well as the management of the negotiations. They also played a crucial role in securing the financing by getting all the stakeholders involved to move forward together"
Engagement overview
- Debt Structure Advisory in connection with the proposed acquisition of the SADE Group by NGE
- Identification of the most appropriate financing instruments
- Support in securing and optimising the financing required for the acquisition
Objectives
- Determine the optimal financing structure for the acquisition
- Securing the “certainty of funds” required for NGE’s binding offer to the seller
- Combine i) excellence in terms and conditions, ii) careful management of banking relationships
Results
- Addition of an acquisition line to the existing syndicated credit facility
- Implementation of a securitisation bridging loan pending the integration of SADE into NGE’s historic securitisation programme
- Obtained the waivers required for the acquisition from the PP investors
Methodology
- Supporting the Group in its reflections on the optimal structure to be put in place as part of the acquisition: modelling and setting up a roadmap in line with the timing of the competitive acquisition process
- Preparation of the information package (IM, review of the financial model, Term Sheet) for borrowers (banks and investors)
- Managing consultation with lenders in conjunction with management and legal counsel, and negotiating Terms & Conditions
- Proactive support through to closing on 29/2/2024
Value added by Redbridge
- In-depth upstream thinking: analysis of the combined BP and existing documentation to recommend the optimal financing structure for the Group
- Coordination of the various streams of the assignment (syndicated loan, euroPP and bridging loan) to fit in with the tight timing of the acquisition
- NGE’s liaison with all the players involved (banks | investors | securitisation arrangers | lawyers)
- Team availability, production of internal support materials and assistance with key decisions