"Thanks to Redbridge and Accola’s support, we have been able to renew the securitisation program of our subsidiary SGDBF at improved conditions, and according to schedule"
Engagement overview
- Advise Saint Gobain on the renewal of their existing securitisation program (originally structured with Accola/Redbridge’s support).
Objectives
- Optimise the pricing of the transaction
- Select a new management company and depositary
- Within a compressed period of 3 months
Results
- Improvement of the financial terms of the transaction, leading to significant yearly savings
- A renewed bank pool was selected; a new bank was chosen to arrange the transaction
- A new management company and depositary were appointed
Methodology
- Dedicated RFP aimed at management companies
- Consultation of a large pool of potential lenders (over 20 banks). A detailed RFP, including quantitative and qualitative questionnaires, was circulated to assess the respondents’ commercial terms and experience
- Shortlisting of banks based on RFP responses.
- Bilateral negotiations with shortlisted banks with a view to optimising Saint Gobain’s funding cost
Value added by Redbridge
- In-depth knowledge of securitisation
- Understanding of prevailing market conditions
- Robust process leading to optimised terms & conditions
- Agile approach consistent with ambitious timeline